The U.S. Senate has passed a cryptocurrency bill.
On Tuesday, the Senate approved a major cryptocurrency bill, with 18 Democrats joining the majority of Republican senators to secure the victory. The bill will ensure consumer protection and impose restrictions on stablecoins - a digital asset pegged to the U.S. dollar. Stablecoins are designed to be less volatile than Bitcoin. The bill is now heading to the House of Representatives, where lawmakers are expected to make changes. "With this bill, the United States is one step closer to becoming a global leader in cryptocurrency," said Republican Senator Bill Hagerty from Tennessee, one of the bill's authors, on the Senate floor. The crypto industry welcomed this development. "By advancing bipartisan stablecoin legislation, the Senate took a decisive step toward ensuring the legal and regulatory clarity necessary to foster responsible innovation and protect consumers," said Blockchain Association CEO Summer Mersinger. She called it a "victory" for American developers and entrepreneurs. Most Democrats opposed this measure, arguing that it does not sufficiently restrict the Trump family's ability to profit from their cryptocurrency ventures. President Trump made it clear that he wants significant cryptocurrency legislation passed before Congress breaks for its summer recess in August. However, the schedule is already filled with consideration of his "mega-bill," which contains the main parts of his agenda on taxes, border control, and defense spending.
Ukrainians will be able to hold multiple passports, but the list of countries is limited by the Cabinet of Ministers.
The Verkhovna Rada has adopted the law on multiple citizenship in Ukraine in general. The decision was supported by 243 parliamentarians.
Now Ukrainian citizens will be able to have a second citizenship, but only from countries that the Cabinet of Ministers includes in a special list. Which countries these are has not yet been determined. The Cabinet will decide on its own and will be able to change the list.
The law includes a clause that defines six cases when multiple citizenship is considered permissible - for example, at birth, adoption, marriage, or automatic acquisition.
The loss of a Ukrainian passport will threaten those who voluntarily obtain the citizenship of a country not included in the Cabinet's list, as well as for citizenship of the Russian Federation (except in cases from occupied territories, if there was no public support for aggression).
Foreigners from countries on the Cabinet's list will be able to obtain Ukrainian citizenship in a simplified manner. They will not have to renounce their passport - it will be enough to submit a declaration stating that in their relations with Ukraine they recognize themselves solely as Ukrainians. Citizenship acquisition is also simplified for foreigners serving in the military in Ukraine.
The law will come into effect six months after the president's signature and its publication. During this time, the government must decide how to regulate access to public positions for people with multiple citizenships.
The U.S. Senate has postponed sanctions against Russia at least until July.
Despite consensus among senators, the U.S. is delaying the introduction of new sanctions against Russia at least until July. The reason is the escalation of the war between Israel and Iran, as well as new tax initiatives from Republicans. Donald Trump has not yet approved the bill, focusing on domestic policy and a potential military conflict with Iran. Against this backdrop, even bills with broad support, such as cryptocurrency regulation, are not moving forward. Senator Graham acknowledged that the sanctions will have to be postponed, but assured that the issue of Russia and Ukraine remains a priority for him. He stated: "Iran is now in the spotlight, but that does not mean I have forgotten about Russia or Ukraine."
USA: The Social Security Fund may run out of money in less than ten years.
According to a new report published on Wednesday, federal funds for the Social Security Trust Fund will run out by 2033, leading to benefit cuts. The trustee board warned that the depletion date for Social Security funds has been moved two years earlier compared to last year's report, which predicted it would run out in 2035. This is partly due to bipartisan legislation signed by former President Joe Biden earlier this year that increased benefits for retired police, teachers, and other public sector officials whose positions were not covered by Social Security. Trustees calculated that funding for Medicare's hospital insurance trust fund will run out in 2033—three years earlier than previously projected. If the Social Security system becomes insolvent, retirees will automatically see their benefits cut by 23%. Democrats are advocating for the elimination of the payroll tax cap that limits Social Security taxes to the first $176,100 of a person's earnings.
Copenhagen ranked first in The Economist's Global Liveability Index.
The city received 100 out of 100 points for stability, education, and infrastructure. In 2023 and 2024, the city ranked second in this rating, while Vienna held the first place for three consecutive years, but this year it placed second.
Zurich ranked third, Melbourne fourth, and Geneva fifth. The top ten of the ranking also included Sydney, Vancouver, and Osaka, while Kyiv ranked last at 165th. Damascus was in the last position at 173rd. All cities covered by the study in the UK (London, Manchester, and Edinburgh) dropped in the ranking after mass unrest and an increase in homelessness. Among them were also two Canadian cities (Calgary, Toronto), as health ratings for all four Canadian cities in the index decreased. North American cities remain very popular places to live. Their ratings are 80 or higher.
Texas Instruments is investing $60 billion in chip manufacturing in the USA.
Texas Instruments is investing in seven semiconductor manufacturing plants. According to the company, this is the largest such investment in U.S. history. The seven factories will be located on three sites in Texas and Utah, creating 60,000 new jobs. Commerce Secretary Howard Latnick highly praised the investment, as did Apple CEO Tim Cook and Nvidia CEO Jensen Huang. Ford CEO Jim Farley said: “80% of Ford cars that we sell in the U.S. are assembled in the U.S., and we are proud to stand alongside such technology leaders as TI, who continue to invest in manufacturing in the U.S.”
Tesla shares are plummeting as the company abruptly halts production of the Cybertruck and Model Y.
Tesla is suspending production of the Cybertruck and its recently upgraded Model Y, and the stock market is already reacting to this. Following the emergence of a new report on the production halt, which, according to insider interviews, is expected to last a week starting June 30, the company's shares fell to approximately $316, a decrease of almost four percent. As Tesla's sales had significantly dropped earlier, the new Model Y and the launch of Robotaxi were expected to improve the electric vehicle manufacturer's situation. Instead, these controversial crises prove to be yet another example of how Musk overestimates his promises and fails to meet expectations. It is noted that this is already the third time this year that Cybertruck production has been halted.
News in brief
WSJ: Trump has agreed to the U.S. attack plan on Iran.
Negotiating teams from Russia and Ukraine are agreeing to hold a new round after June 22 - Putin.
At SpaceX, another accident occurred - the Super Heavy rocket exploded during a test on the launch pad.
Ukrzaliznytsia is launching a new regional express connecting Zhytomyr - Kyiv - Zhytomyr. There will be one stop in Fastiv on the route.
The Football Association of England has officially accused Mudryk of violating anti-doping rules. The likely punishment is a four-year disqualification.