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๐บ๐ธ USA: GENIUS Act Failed in Senate ๐ This happened due to a change in the position of Democratic senators who previously supported the law. Now they voted against it, led by Kirsten Gillibrand. Previously, she was one of the main initiators of this law. ๐ฆ Senators said that the new Republican amendments to the law are too insufficiently developed in the area of โโAML and investor security. Democrats generally believe that this law and the entire crypto policy of the Republicans in the United States lobbies too much for the interests of the crypto business (and Donald Trump personally). ๐คฏ It seems that the situation with crypto regulation in the United States is getting worse and new laws on crypto are being postponed because of the Democrats. On the other hand, while there are no new laws, most decisions will be made by regulators (CFTC, SEC, OCC, FinCEN), which are led by Republicans. So crypto businesses can benefit even from this failure.
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๐บ๐ธ USA: GENIUS Act Failed in Senate ๐ This happened due to a change in the position of Democratic senators who previously supported the law. Now they voted against it, led by Kirsten Gillibrand. Previously, she was one of the main initiators of this law. ๐ฆ Senators said that the new Republican amendments to the law are too insufficiently developed in the area of โโAML and investor security. Democrats generally believe that this law and the entire crypto policy of the Republicans in the United States lobbies too much for the interests of the crypto business (and Donald Trump personally). ๐คฏ It seems that the situation with crypto regulation in the United States is getting worse and new laws on crypto are being postponed because of the Democrats. On the other hand, while there are no new laws, most decisions will be made by regulators (CFTC, SEC, OCC, FinCEN), which are led by Republicans. So crypto businesses can benefit even from this failure. #newbie
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BTC and ETH Exchange Supply Dries Up According to Santiment, BTCโs supply on exchanges has fallen to 7.1% for the first time since November 2018. Over the last five years, there has been 1.7 million less BTC on crypto trading platforms. Similarly, ETH now has less than 4.9% of its supply on crypto exchanges for the first time in more than 10 years. It also has 15.3 million fewer coins on trading platforms over the last five years. A shrinking supply of a certain cryptocurrency on exchanges often means a decline in assets available for immediate sale. This also means that investors are more confident and are moving their assets to cold storage for long-term holding, with the expectation of future price appreciation. $BTC #BTC
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