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Compilation of cryptocurrency and blockchain-related news on June 14:

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🏛 U.S. Crypto Legislation and Policy Updates

• Stablecoin Legislation Accelerates

The U.S. Senate has passed the procedural vote for the GENIUS Act, planning to establish a federal regulatory framework for stablecoins. It is currently awaiting further voting and review by the House of Representatives. The GENIUS Act allows stablecoin issuers to assume more capital liquidity responsibilities, which has raised questions from Senator Warren. 

• CLARITY Act in Progress

The House of Representatives is evaluating the CLARITY Act, which aims to clarify the division of responsibilities between the SEC and CFTC. The Senate is also preparing comprehensive legislation to improve stablecoin regulations. 

• Government Advocates Crypto Supporters to Join

David Sacks, the U.S. White House "Crypto Czar," pointed out that the Trump administration is actively promoting friendly crypto regulations, including revisions to stablecoins and digital asset market structures. Some bills have already gained majority bipartisan support.

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🏦 Institutional and Market Events

• Walmart/Amazon Stablecoin Trial

Walmart and Amazon are considering issuing their own stablecoins, which, if successfully implemented, will significantly change the payment ecosystem. This action must wait for the GENIUS Act to pass to obtain clear regulatory protection, and the news has severely impacted Visa and Mastercard's stock prices. 

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🔗 On-Chain Security Incidents

• Echo Protocol Hacked, Emergency Withdrawal Suspension

The Echo Protocol suffered a supply chain attack, resulting in the theft of approximately $266 million from uBTC wallets. The platform has urgently suspended withdrawals, and fund security has not yet been fully restored. 

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📉 Crypto Market Overview

• Bitcoin Falls Slightly

Bitcoin fluctuated today, with prices ranging between $104K–$106K, currently around $105.7K, with a slight short-term pullback.