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Huge shakeup for crypto in the U.S.

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In a significant development for the U.S. cryptocurrency industry, the United States House Financial Services Committee has successfully passed two crypto regulatory bills.

The bills, named the Financial Innovation and Technology for the 21st Century Act and the Blockchain Regulatory Certainty Act, were approved by a majority of U.S. lawmakers on July 26.

The Financial Innovation and Technology for the 21st Century Act, passing with a 35-15 vote, is set to establish clear rules for cryptocurrency firms regarding their registration requirements. It will provide guidance on when these firms should register either with the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).

Additionally, the Republican bill outlines a process for firms to obtain certification from the SEC, confirming the adequate decentralization of their projects.

This certification would enable digital assets to be registered as digital commodities with the CFTC. Congressman French Hill, a Republican and Vice Chairman of the House Financial Services Committee, expressed pride in the bill’s passage, highlighting its bipartisan support and emphasis on robust consumer protections and fostering innovation in the United States.

The second bill, the Blockchain Regulatory Certainty Act, has bipartisan sponsorship by Congressman Tom Emmer and Congressman Darren Soto.

Its objective is to remove hurdles and requirements for various entities in the blockchain sector, including miners, multisignature service providers, and decentralized finance platforms.

Emmer hailed the passing of this bill as a “huge win” for the United States. He clarified that the Blockchain Regulatory Certainty Act addresses which blockchain-related entities would qualify as money transmitters in the country.

If passed in the House of Representatives, the bill would affirm that blockchain entities not holding customer funds are not considered money transmitters, providing much-needed clarity for the industry.

Despite the success of these two bills, some lawmakers refused to support the proposed Digital Assets Market Structure bill. Democratic Representative Maxine Waters criticized the bill for being too accommodating to the crypto industry’s demands and overlooking regulatory guidance from the SEC.

She emphasized the importance of upholding existing securities laws to protect investors and foster innovation.

With the passage of these regulatory bills, the U.S. cryptocurrency industry is now on the path towards greater clarity and stability.

The legislation aims to strike a balance between protecting consumers and encouraging innovation, fostering a conducive environment for crypto-related businesses in the United States.

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RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

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RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

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Feeling the stress this tax season?

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximize deductions for 2025.

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Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximise deductions for 2025.


It’s that time of year again, and if you’re feeling overwhelmed, you’re not alone.

With so many moving parts, from missed deductions to misplaced receipts, small mistakes can lead to big losses.

Dr Steve Enticott from CIA Tax joins to break down what people forget most, which new deductions to know for 2025, and why a simple checklist can save you money.

#TaxTime #MoneyTips #2025Tax #TaxReturn #TickerNews

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Trump’s ‘big beautiful bill’ passes Senate

Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.

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Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.


President Trump’s sweeping tax and spending bill has narrowly passed the U.S. Senate 51-50, with Vice-President JD Vance breaking the tie.

The bill promises big tax breaks, military boosts, and immigration crackdowns, while slashing support for Medicaid and low-income aid, a move critics say risks deepening inequality.

All eyes now turn to the House vote, where Trump’s political clout will face a fresh test.

#Trump #BigBeautifulBill #USPolitics #TickerNews

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