ChainCatcher news, according to Cointelegraph, Blockchain Association CEO Kristin Smith stated at the 2025 Digital Assets Summit that U.S. lawmakers may pass legislation related to stablecoins and crypto market structure as early as August. Bo Hines, Executive Director of the President's Digital Asset Advisory Committee, also predicted that comprehensive stablecoin legislation would be introduced in the coming months.Democratic Congressman Ro Khanna stated at the summit on March 18 that he expects Congress to pass the bill in 2025, noting that about 70 to 80 Democrats support stablecoin legislation to promote the global use of the dollar and enhance U.S. influence.

ChainCatcher news, according to the International Business Times, U.S. Representative Gerald Connolly, a Democrat from Virginia, is pressuring the U.S. Treasury to halt plans to establish a strategic Bitcoin reserve. In a letter to Treasury Secretary Scott Bessent, Connolly pointed out that the plan, issued by Trump through an executive order, has "obvious conflicts of interest" and provides "no clear benefit to the American people."As a senior Democrat on the House Oversight and Government Reform Committee, Connolly questioned the necessity of establishing a Bitcoin reserve, noting that the U.S. has historically created strategic commodity reserves through "congressional legislation" rather than investing in the highly volatile cryptocurrency market. He also emphasized that the reserve would benefit Trump and his family and allies, rather than American taxpayers.

ChainCatcher News, U.S. Congressman Byron Donalds plans to submit a legislative proposal to formally legislate the executive order signed by the Trump administration this month, which aims to establish a strategic Bitcoin reserve and a U.S. digital asset reserve. If the bill passes, it will ensure that the policy cannot be revoked by future presidential executive orders. Trump's executive order requires the Treasury Department to establish a Bitcoin reserve to hold approximately 200,000 Bitcoins and authorizes the Treasury and Commerce Departments to develop a "budget-neutral" strategy to purchase more Bitcoins while prohibiting the sale of Bitcoins from the reserve. Additionally, the executive order also establishes a digital asset reserve at the Treasury Department for storing existing and future digital assets obtained through criminal or civil asset forfeiture.

ChainCatcher news, the strategic Bitcoin reserve bill proposed by U.S. Senator Cynthia Lummis has now been published on the Congressional government website.

ChainCatcher news, according to Jinshi reports, the Republican-controlled House of Representatives voted on Tuesday to prevent Congress from quickly challenging the tariff policy implemented by President Trump that has caused turmoil in the financial markets. This vote effectively undermined the challenge initiated by Washington State Democratic Representative Suzan DelBene against Trump's tariffs on Canada and Mexico.The blocking provision was cleverly incorporated into the procedural vote of a six-month temporary funding bill proposed by the Republicans. DelBene had previously sought to force a vote under the National Emergencies Act, which grants the president special powers in emergencies, and Trump invoked this act to implement the tariffs. The bill originally allowed the House to force a vote to revoke the president's emergency powers within 15 days, and the Senate would also need to pass a related resolution for it to take effect.However, Tuesday's vote adjusted the way the House calculates the remaining calendar days for 2025, effectively preventing such challenge votes within this year and solidifying the Trump administration's dominance in trade policy.

ChainCatcher News: U.S. Congressman Hill stated that Trump should work with Congress on the Bitcoin reserve issue.

ChainCatcher news, U.S. Congressman Nick Begich tweeted: "It's time for America to become the first Bitcoin superpower."Begich stated that he is working with Wyoming Senator Cynthia Lummis (the sponsor of the "Bitcoin Strategic Reserve Act" and chair of the Senate Banking Committee's Digital Assets Subcommittee) on a "significant" (₿ig) Bitcoin-related initiative and hinted that details will be announced next Tuesday.

ChainCatcher news, U.S. Congressman Nick Begich from Alaska posted on X platform stating, "Now is the time for America to become the first Bitcoin superpower; I am working on something big with (U.S. crypto-friendly Senator, Chair of the U.S. Senate Banking Committee on Digital Assets) Cynthia Lummis. Stay tuned for the reveal next Tuesday." He also mentioned the account of the Bitcoin Policy Institute. This news was confirmed by a retweet from Cynthia Lummis.

ChainCatcher news, U.S. Congressman Nick Begich stated that he is working with Senator Cynthia Lummis to prepare a significant initiative related to Bitcoin, which will be announced next Tuesday. Begich posted on his Twitter account: "It's time for America to become the first Bitcoin superpower. I am collaborating with Senator Lummis on a major (₿ig) plan, so stay tuned for next Tuesday."

ChainCatcher news, according to Cointelegraph, U.S. Congressman Mike Collins stated that his congressional campaign officially accepts cryptocurrency donations starting from March 5. Donations can be made using cryptocurrencies such as BTC, ETH, LTC, DOGE, SOL, and USDT.Collins stated in a statement: "Whether it's artificial intelligence, machine learning, or emerging assets like cryptocurrency, the U.S. has long been hindered by its reluctance to adapt to new technologies. I hope that by launching this platform, I can help eliminate societal biases against the crypto industry."

ChainCatcher news, according to Walter Bloomberg, although the Bitcoin strategic reserve plan proposed by Trump has gained support among some pro-cryptocurrency members of Congress, its recent feasibility is in question. Wyoming Republican Senator Cynthia Lummis, who introduced the related bill, acknowledged that the proposal lacks sufficient support in Congress.Lummis stated at the Bitcoin Investor Day event in New York that there is resistance even within the Republican Party. She quoted House Banking Committee Chairman Tim Scott's suggestion to delay implementation and pointed out that lack of preparation is a major obstacle.

ChainCatcher news, according to Jinshi reports, on Tuesday night, Musk attended Trump's speech at the U.S. Congress. Musk took off the T-shirt and jeans he usually wears and changed into a suit. Previously, Ukrainian President Zelensky was criticized for not wearing a suit during his meeting with Trump at the White House. Musk rarely wears a suit and tie; he even once answered questions at the White House while wearing a black T-shirt that said "Occupy Mars."Although Musk was dressed appropriately, he was asked by security to put away his phone for filming a video. Later, Trump praised Musk for his efforts to reduce government spending, and Musk smiled and saluted the lawmakers present.

ChainCatcher message, Trump's speech in Congress has ended, and he did not mention cryptocurrency.

ChainCatcher News: U.S. President Donald Trump delivered his first joint address to Congress for his second term today at 10 AM Beijing time.

ChainCatcher news, before President Trump addresses Congress, a new survey shows that most people are dissatisfied with his job performance.A CNN survey conducted over the last five days of last month and released on Sunday found that 52% of respondents said they do not support "Trump's handling of the presidency," while 48% said they do support the president's performance. The survey also found that 39% of respondents believe the U.S. is heading in the "right direction" with "the policies proposed by Trump," while 45% disagreed. This survey was conducted before the tense meeting between Trump, Zelensky, and Vance in the Oval Office on Friday.

ChainCatcher news, according to Fox reporter Eleanor Terrett, U.S. House Republican Whip Tom Emmer and Congressman Ritchie Torres are joining forces to establish the Congressional Crypto Caucus, a bipartisan initiative aimed at promoting crypto-friendly policies in the House.Unlike the Congressional Blockchain Caucus established in 2017, this caucus will operate more as a voting bloc, mobilizing support for the digital asset legislation (including stablecoin and market structure bills) being developed in the House. Congressman Emmer stated that the formation of this caucus is in response to millions of American voters supporting candidates who prioritize the development of digital assets and blockchain technology in the November elections.

ChainCatcher News, the White House stated on its X platform that President Trump will deliver a joint address to Congress for the first time tomorrow night at 9 PM Eastern Time (10 AM Beijing Time on March 5).

ChainCatcher news, Aurelie Barthere, the chief research analyst at blockchain analytics firm Nansen, stated that the rise may be temporary due to the lengthy approval process required to establish a U.S. cryptocurrency reserve: "I think building reserves by purchasing new tokens is a complex process that requires a congressional vote, so it takes time. I'm a bit concerned about the sustainability of today's initiative."

ChainCatcher news, according to CoinDesk, former Chairman of the Commodity Futures Trading Commission (CFTC) Timothy Massad has urged Congress to prioritize the establishment of a stablecoin regulatory framework and to postpone discussions on cryptocurrency market structure legislation for several years. He believes that the currently proposed market structure plans may exacerbate regulatory confusion rather than provide clear guidance.