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Trump-backed crypto bills fail in Congress vote

Trump-backed crypto regulation bills stalled in Congress as House Republicans defy leader, impacting crypto market negatively

Published

3 months ago

July 16, 2025

Ahron Young

Trump-backed crypto regulation bills stalled in Congress as House Republicans defy leader, impacting crypto market negatively

In Short:
– Cryptocurrency regulation bills supported by Donald Trump failed in the House, with 196 votes for and 223 against.
– Crypto stocks fell post-vote; Rep. Greene opposed bills lacking a ban on central bank digital currencies.

Cryptocurrency regulation bills supported by Donald Trump failed to clear a key procedural hurdle in the House of Representatives, significantly impacting the crypto industry. The bills require the House to approve rules of debate to move forward; however, the vote concluded with 196 in favour and 223 against.

Thirteen Republicans joined Democrats to block the legislation’s advancement.Uncertainty surrounds the next steps for the bills, particularly after House Republican leadership opted not to hold another vote the same day. The defeat occurred during “Crypto Week,” an unusual moment of rebellion against Trump’s directives by House Republicans.

Crypto decline

After the vote, shares of crypto-related companies declined, with Circle down over 7% and Coinbase dropping more than 4%. One of the stalled bills is the GENIUS Act, aiming to regulate stablecoins. Another proposal, the CLARITY Act, seeks to determine whether assets are treated as securities or commodities.

Rep. Marjorie Taylor Greene opposed the measure, stating it lacked a ban on central bank digital currencies, aligning with Trump’s earlier calls for such a provision.

News

Gold plunges 5% in biggest drop since 2013

Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.

Published

18 hours ago

October 22, 2025

ticker NEWS

Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.

Gold prices have crashed over 5% in a single day, sparking concerns across global markets and sending investors scrambling.

Chris Weston from Pepperstone breaks down the causes and implications.

#Gold #Markets #Investing #Commodities #GoldCrash #PreciousMetals #ASX #GlobalMarkets #Finance #Trading

News

Trump and Xi set for high-stakes APEC showdown

Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.

Published

18 hours ago

October 22, 2025

ticker NEWS

Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.

President Trump and President Xi Jinping will meet for the first time in six years at the APEC summit, aiming to ease trade tensions and revive dialogue amid tariff threats.

#Trump #XiJinping #APEC #Trade #China #USPolitics #Economy #Tariffs #AsiaPacific #GlobalSummit

News

Trump to meet Xi at APEC amid trade tensions

Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

Published

1 day ago

October 21, 2025

Ahron Young

Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

In Short:
– Trump will meet Xi Jinping at the APEC summit in South Korea later this month amid trade tensions.
– China has reshuffled its trade team, appointing Li Yongjie as the new WTO representative.

President Donald Trump confirmed he will meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit later this month in South Korea.

It marks their first face-to-face encounter in six years amid ongoing trade tensions.Trump expressed hope about achieving a “fantastic deal,” despite escalating disputes. He is prepared to impose significant tariffs on Chinese imports if no agreement is reached. Current U.S. tariffs on Chinese goods average 55%, with a potential increase to 155% looming.

Trump mentioned that he believes an excellent trade deal would benefit the U.S., China and the global economy. He acknowledged the importance of the negotiations, stating that China respects the U.S. but is always seeking advantages in trade.

China’s Trade Reshuffle

China has reshuffled its trade negotiation team. Li Chenggang has been removed from his position as the representative to the World Trade Organization, while retaining his role as vice minister of commerce. This change aligns with Beijing’s strategy to adjust its trade diplomacy amid tensions.

Li Yongjie has been appointed as the new WTO representative. This team transition comes after scrutiny from U.S. officials and reflects China’s commitment to recalibrating its approach within the ongoing trade discussions.

The upcoming APEC summit will gather leaders from 21 economies, representing a significant portion of global GDP. It serves as a pivotal platform for dialogue, despite the backdrop of intensified trade negotiations.