Trump's Triple Moves Spark Heated Debate: Cutting Aid, Establishing Stablecoin Regulations, Suing the Media - A Day of Political and Public Opinion Turmoil
- Trump Signs Spending Cut Bill: On July 18 local time, Trump signed a spending cut bill, officially withdrawing $9 billion in foreign aid and federal public broadcasting expenditures. The bill, submitted to Congress on June 3, underwent 45 days of bipartisan negotiations and was finally passed in the House and Senate in a thrilling vote.
- Trump Signs Stablecoin Legislation: On July 18 local time, Trump signed the 'Guidance and Establishment of a National Innovation Act for Stablecoins' at the White House, marking the first formal establishment of a regulatory framework for digital stablecoins in the United States. Trump also stated that he has signed an executive order to establish a federal 'Strategic Bitcoin Reserve' and 'National Digital Asset Reserve', reiterating that he would not allow the establishment of a central bank digital currency in the U.S.
- Trump Sues Over Epstein Case for Defamation: On July 18 local time, Trump posted on social media that there is no conclusive evidence regarding the Epstein case and filed a defamation lawsuit against News Corp, Dow Jones, media tycoon Rupert Murdoch, and two Wall Street Journal reporters, seeking at least $10 billion in damages. Dow Jones, the parent company of the Wall Street Journal, stated that it would 'vigorously respond' to the lawsuit.
