congress

Crypto journalist Eleanor Terrett revealed that the office of U.S. Senator Thom Tillis plans to publicly release legislative text related to stablecoin yields and reward mechanisms next week, and is currently in ongoing communication with various industry stakeholders.According to reports, this move comes in response to dissatisfaction expressed by participants in the crypto industry, such as Coinbase, regarding the relevant terms presented earlier this week. Coinbase's Global Head of Investment Research, David Duong, stated that the industry is preparing a coordinated counter-proposal aimed at pushing for adjustments to the terms to protect users while maintaining a sustainable reward mechanism.

U.S. lawmakers have introduced the PREDICT Act, which aims to prohibit the President, members of Congress, and other senior government officials from participating in prediction market trading.The bill was jointly proposed by Adrian Smith and Nikki Budzinski and aims to restrict the use of insider information in prediction activities related to political events or policy outcomes, extending its scope to the spouses and family members of the relevant personnel. The bill also proposes a penalty of 10% of the total contract value for violations, with all profits being forfeited to the U.S. Treasury.

According to market news, U.S. Democratic Representative Alexandria Ocasio-Cortez has officially called for the removal of Trump from office under the 25th Amendment of the Constitution. The 25th Amendment of the U.S. Constitution states that if the president is unable to perform the duties of office, the vice president shall assume those powers.

The Bitcoin Policy Institute warns that the U.S. Congress has only a few months left to pass a micro-exemption policy for small Bitcoin transactions. The organization has met with 19 congressional offices to promote this change.

Investment bank TD Cowen stated that the U.S. Congress may be close to passing legislation to permanently prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC). This move could benefit stablecoin issuers but may also introduce new complexities for cryptocurrency market structure legislation.Last week, U.S. Senator Ted Cruz proposed an amendment in the housing bill "21st Century ROAD to Housing Act," calling for a permanent ban on the Federal Reserve issuing CBDC. The amendment aims to convert the currently effective temporary ban, which lasts until 2030, into a permanent provision. The housing bill is expected to be submitted for a Senate vote as early as this week.Jaret Seiberg, Managing Director of TD Cowen's Washington research department, indicated that the housing bill ultimately submitted for the president's signature is likely to include this ban, and the possibility of a permanent ban is higher than that of a temporary one. Seiberg pointed out that the amendment is primarily aimed at solidifying the current policy stance.The Federal Reserve has repeatedly stated that it will not issue a digital dollar without explicit authorization from Congress. Meanwhile, several U.S. lawmakers have recently co-signed a letter to congressional leadership, urging for a permanent ban on CBDC. Congressman Ralph Norman stated that unlike cash, CBDC could allow the government to track transactions and monitor individual spending behavior, thus a permanent ban is necessary to protect the privacy and freedom of Americans.It is noteworthy that the U.S. House of Representatives passed the "Anti-CBDC Surveillance State Act" last year, which prohibits the Federal Reserve from directly issuing CBDC to individuals. Cruz has also been actively pushing for similar legislation in the Senate.

The U.S. Treasury Department, in its report on the GENIUS Act submitted to Congress, suggested that Congress consider creating a "hold law" for digital assets. This proposal aims to provide a legal safe harbor for crypto platforms, allowing them to temporarily and voluntarily freeze digital assets suspected of illegal activity during investigations.Ari Redbord, policy director at TRM Labs, stated that this legislation would give law enforcement time to address the rapid nature of blockchain transactions. Although the Bank Secrecy Act protects institutions that submit suspicious activity reports, there is currently a lack of clear statutory provisions authorizing platforms to freeze funds without a court order. The report noted that this move would strengthen public-private partnerships in combating crypto fraud and money laundering.

The U.S. Treasury submitted a 32-page report to Congress stating that cryptocurrency mixers can be used for legitimate financial privacy purposes, allowing users to protect sensitive information such as personal wealth, business payments, or charitable donations. This stance marks a shift from its attitude when sanctioning Tornado Cash in 2022.The report reveals that North Korean cybercriminals stole at least $2.8 billion in digital assets between January 2024 and September 2025, including $1.5 billion stolen from Bybit, and regularly used mixers for multi-step money laundering. Since May 2020, over $1.6 billion in mixer deposits have flowed into cross-chain bridges, with more than $900 million concentrated in a bridging protocol related to North Korean money laundering activities.The report distinguishes between custodial and non-custodial mixers, noting that compliant custodial mixers can provide customer identity and off-chain transaction data, but it did not recommend imposing new restrictions on non-custodial mixers. In terms of legislative recommendations, the report urges Congress to create a digital asset-specific "freezing law" to provide safe harbor protection for financial institutions to temporarily freeze suspicious assets during short-term investigations, and suggests that Congress clarify which DeFi participants should bear anti-money laundering obligations.The report also proposes adding a "sixth special measure" to Section 311 of the USA PATRIOT Act, authorizing the Treasury to impose bans or restrictions on specific digital asset transfers that do not involve agency banking relationships. This report was prepared based on Section 9 of the GENIUS Act signed in July 2025.

According to Cointelegraph, U.S. Congressman Michael Cloud, along with 28 other lawmakers, has sent a letter to congressional leadership requesting a permanent ban on the issuance of a central bank digital currency (CBDC) in the United States.The lawmakers believe that the current bill, which only proposes a temporary measure to prohibit the Federal Reserve from issuing a CBDC until 2031, is insufficient. They warn that a CBDC could lead to financial surveillance, grant excessive power to the Federal Reserve, and threaten citizens' freedoms. They call for the restoration of stricter permanent ban provisions previously proposed in the "Anti-CBDC Surveillance State Act."Any ban on the issuance of a U.S. central bank digital currency must be "permanent," and they warn that issuing a U.S. central bank digital currency is "essentially anti-American."

According to CCTV News, Dong Jin, a representative of the National People's Congress and the director of the Beijing Microchip Blockchain and Edge Computing Research Institute, stated that China's independently developed underlying blockchain technology has been applied in 16 central ministries and 27 central enterprises, achieving positive progress in areas such as taxation, cross-border trade, and global payments.Every year, hundreds of billions of invoices are "run" on the independent blockchain in our country, with over 300,000 enterprises in cross-border trade on the blockchain, and the trade amount reaching trillions of yuan.

According to CoinDesk, despite the Clarity Act being stalled in Congress, the Trump administration is providing regulatory clarity for the crypto industry through executive actions.Analyst Brady Dale pointed out that Trump's appointment of Paul Atkins as SEC chairman could be a decisive move, as Atkins, a seasoned regulatory expert, has clearly stated that the SEC has the authority to establish the necessary rules for the crypto industry without waiting for congressional legislation. The appointment of new CFTC chairman Michael Selig further ensures coordination between the two major regulatory agencies. The two agencies are expected to submit draft rules this fall and finalize them in the spring of 2026, which will establish dedicated rules for decentralized financial networks for the first time, allowing exchanges to operate in compliance and making token sales possible.

The U.S. House of Representatives is expected to vote on a war powers resolution on Thursday. The resolution requires the president to obtain congressional approval before taking any further military action.

According to Jinshi Data, U.S. President Trump stated that the "Insider Trading Prohibition Act" should be passed immediately to ensure that members of Congress cannot profit from insider information.

According to Jinshi Data, U.S. President Trump stated that the Supreme Court's ruling is regrettable. Almost all countries and cooperative organizations hope to maintain the agreements they have reached on tariffs. Tariffs will continue to be implemented and will replace income tax, with no action needed from Congress on the tariff issue.

According to the official website of the Brazilian Chamber of Deputies, a strategic sovereign Bitcoin reserve alternative bill named RESbit has recently been officially submitted. The bill proposes that Brazil accumulates at least 1 million Bitcoins as a national strategic reserve asset through a planned gradual acquisition over 5 years. This submitted bill significantly expands the scale of the previous bill regarding the use of 5% of foreign exchange reserves to purchase Bitcoin.The draft also includes provisions to prohibit the sale of Bitcoins seized by the judiciary, accept Bitcoin payments for federal taxes, and provide incentives for Bitcoin mining and holding companies. If this bill is passed, Brazil's holdings are expected to surpass those of the United States and China. Currently, the bill still needs to address the limitations of existing regulatory regulations from the central bank, as the current central bank regulations do not consider the use of Bitcoin as a reserve asset.

According to the official website of the Brazilian Chamber of Deputies, a strategic sovereign Bitcoin reserve alternative bill named RESbit has recently been officially submitted. The bill proposes that Brazil accumulate at least 1 million Bitcoins as a national strategic reserve asset through a planned gradual acquisition over the next 5 years.The submitted bill significantly expands the scale of the previous bill regarding the use of 5% of foreign exchange reserves to purchase Bitcoin. The draft also includes prohibiting the sale of Bitcoins seized by the judiciary, accepting Bitcoin payments for federal taxes, and providing incentives for Bitcoin mining and holding enterprises. If this bill is passed, Brazil's holdings are expected to surpass those of the United States and China. Currently, the bill still needs to address the limitations of existing central bank regulatory regulations, as the current central bank regulations do not consider using Bitcoin as a reserve asset.

The crypto super PAC Fairshake is investing $1.5 million in an advertising campaign aimed at preventing Texas Democratic Congressman Al Green, who has a critical stance on the crypto industry, from winning in the primary election. This expenditure is pledged by Fairshake's affiliate Protect Progress.Al Green has been rated "F" by the pro-crypto organization Stand With Crypto for highlighting the potential risks of cryptocurrency and voting against crypto policy legislation, while his opponent Christian Menefee received an "A" rating. The $1.5 million investment from Fairshake exceeds the over $700,000 in campaign funds that Al Green has currently raised.It is reported that Fairshake has a funding reserve of $193 million and announced this week that it will spend $5 million to support another pro-crypto Republican Congressman Barry Moore.

The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, was questioned by Democratic lawmakers during a House Financial Services Committee oversight hearing regarding the suspension of enforcement actions against Tron Foundation founder Justin Sun.Senior Democratic lawmaker Maxine Waters emphasized that the SEC has abandoned nearly all previous cryptocurrency enforcement cases since Trump took office and questioned whether Sun's relationship with Trump influenced this. Atkins stated that he could not discuss individual cases but was willing to provide confidential briefings within the limits of the rules. At the same time, Atkins confirmed that the SEC is working with the CFTC to develop cryptocurrency regulatory rules consistent with the Clarity Act to clarify the jurisdiction of the two agencies.

According to Jinshi, Federal Reserve Governor Waller stated that the resolution of cryptocurrency regulatory issues seems to be stalled in Congress.

According to CoinDesk, the Brazilian Congress's Science, Technology, and Innovation Committee has approved a bill report aimed at banning algorithmic stablecoins.The bill will prohibit the issuance or trading of stablecoins like USDe from Ethena and Frax, which maintain their value through algorithms rather than fully collateralized assets, requiring all stablecoins issued in Brazil to be fully backed by segregated reserve assets. The bill also raises transparency requirements and classifies the issuance of uncollateralized stablecoins as a new criminal offense, with violators facing up to eight years in prison. For stablecoins issued abroad (such as USDT and USDC), the new regulations require that only companies authorized to operate in Brazil can offer such assets, and exchanges are responsible for ensuring that their issuers comply with regulatory standards similar to those in Brazil, or else they must bear the related risk management responsibilities themselves. The bill still needs to be reviewed by Brazil's Finance and Taxation Committee and the Constitution, Justice, and Citizenship Committee before being submitted to the Senate to become formal law.