ChainCatcher news, according to The Block, U.S. Democratic Senator Adam Schiff introduced legislation on Monday aimed at prohibiting public officials, including the President and their immediate family members, from issuing or endorsing cryptocurrency assets.In a statement released that day, Adam Schiff stated that the legislation, titled the Curbing Officials Income and Nondisclosure Act (COIN Act), aims to prevent senior public officials from "issuing, initiating, or endorsing any digital asset, including meme coins, NFTs, or stablecoins." The ban would apply to the period from 180 days before the start of their term to two years after the end of their term.Adam Schiff pointed out that Trump's involvement in cryptocurrency raises serious ethical, legal, and constitutional concerns, suggesting that he might exploit presidential powers for personal gain. There is a need for stricter scrutiny of the President's financial activities and to prevent him or any other political figures from profiting through similar actions.

ChainCatcher news, U.S. Senator Cynthia Lummis stated today, "The U.S. Senate has taken a key step towards solidifying the dominance of the dollar by passing the bipartisan GENIUS Act. I look forward to working with my colleagues to advance comprehensive market structure legislation to protect consumer rights and ensure that the U.S. becomes the global cryptocurrency capital."

ChainCatcher news, according to Cointelegraph, the ruling party in South Korea has proposed legislation to allow the issuance of stablecoins. The proposed "Basic Law on Digital Assets" will permit South Korean companies with capital exceeding $368,000 to issue stablecoins.

ChainCatcher news, according to Caixin, U.S. Senate Majority Leader John Thune has called for a crucial procedural vote on June 11 regarding stablecoin legislation. The legislative proposal has the support of the cryptocurrency industry and President Trump.

According to ChainCatcher, a message from crypto journalist Eleanor Terrett reveals that a joint statement from eight major crypto industry associations is set to be released, with Uniswap and Jump Crypto also participating in the statement, expressing support for the inclusion of the Blockchain Regulatory Certainty Act (BRCA) in the latest version of the CLARITY Act.The eight major crypto policy organizations in Washington, D.C. issued a joint statement calling on Congress to include the Blockchain Regulatory Certainty Act (BRCA) in market structure legislation.These organizations include: DeFi Education Fund, Coin Center, Solana Policy Institute, The Digital Chamber, Blockchain Association, Crypto Council for Innovation, Bitcoin Policy Institute, and Paradigm.They stated that this amendment is crucial for protecting software developers and infrastructure providers who do not custody customer funds. The amendment was initially proposed by Tom Emmer and has now gained bipartisan support from Rep. Ritchie Torres and others. Many in the industry view it as a foundational policy safeguard for DeFi developers. The joint statement urges lawmakers to include the BRCA in the CLARITY Act, which is a House bill regarding the market structure for digital assets.

ChainCatcher news, according to Jinshi reports, Citic Securities research report indicates that recently, both Hong Kong and the United States have been advancing the legislative process of stablecoin-related bills to varying degrees. Stablecoins can provide a stable trading method for RWA token assets, enhance market liquidity, and help promote the further implementation of RWA issuance projects by mainland enterprises in Hong Kong. At the same time, the stablecoin bill is expected to indirectly boost the construction of payment and settlement interfaces related to digital currencies in Hong Kong's financial industry. Financial IT companies with experience in cross-border settlement of digital currencies/digital yuan and supply chain finance projects are expected to benefit.

ChainCatcher news, according to Cointelegraph, VanEck's head of digital assets Matthew Sigel stated at the Bitcoin 2025 conference that if the U.S. needs to continue increasing its Bitcoin strategic reserves, it must do so through congressional legislation rather than executive orders. He suggested incorporating Bitcoin mining incentives into the budget reconciliation bill, including tax credits for mining companies that use methane gas, and requiring miners to pay a portion of their mining proceeds to the government.Currently, the U.S. government holds nearly 200,000 Bitcoins. When President Trump established this reserve through an executive order on March 7, it stipulated that any new reserves could only be achieved through budget-neutral strategies or asset forfeiture. Wyoming Senator Cynthia Lummis proposed in July 2024 to convert part of the Treasury's gold certificates into Bitcoin, and President's digital asset advisor Bo Hines also proposed a similar plan this March.

ChainCatcher news, according to Crypto In America, U.S. House Financial Services Committee Chairman French Hill announced that a hearing on cryptocurrency market structure will be held on June 4, with a markup session planned for June 10, aiming to complete legislation before the August 4 deadline set by President Trump.Meanwhile, the GENIUS stablecoin bill is facing obstruction from Democrats and some Republican lawmakers in the Senate and is undergoing a new round of amendments. The SEC's crypto task force has held 104 industry meetings, including discussions with Ripple Labs, demonstrating a markedly different open attitude compared to former Chairman Gary Gensler.Although Congress is in recess this week, the annual Bitcoin conference will take place in Las Vegas, featuring heavyweight figures such as Vice President J.D. Vance and White House crypto and AI czar David Sacks, with Crypto in America providing live coverage.

ChainCatcher news, according to Tech in Asia, as the number of stablecoin-related bills in the United States continues to rise, cryptocurrency company Tether is shifting its business focus to overseas markets to cope with the increasingly stringent regulatory environment.

ChainCatcher news, the Ukrainian government is preparing legislation to establish a national strategic Bitcoin reserve. It is reported that Ukraine currently holds approximately 46,351 BTC, worth about 4.8 billion USD. These Bitcoins mainly come from donations, asset seizures, and fundraising activities during the war.Ukrainian lawmaker Yaroslav Zhelezniak stated that the relevant bill has entered the final drafting stage and is expected to be submitted to parliament for review soon. The bill aims to formally incorporate Bitcoin into the national financial strategy. The cryptocurrency exchange Binance is assisting Ukraine in advancing this plan but emphasizes the need for significant legislative reforms. Previously, the Ukrainian parliament passed a virtual assets bill, but it was withdrawn under pressure from the presidential office and the national securities commission. Currently, the national securities commission has proposed 80 amendments to improve the legal framework for crypto assets. Ukraine's move signifies an increasing emphasis on cryptocurrencies in its national financial strategy.

ChainCatcher news, the Nebraska legislature has just passed a bill regulating Bitcoin miners. The LB 526 bill requires large miners to bear the costs of infrastructure upgrades, mandates miners to report energy usage, and allows authorities to interrupt services. The bill passed unanimously with a vote of 49:0.The Bitcoin mining bill LB 526 in Nebraska is not a huge setback for companies in the state. The bill is just over two pages long and very straightforward. Unlike anti-mining bills, it does not address carbon emissions or other environmental impacts. Instead, it focuses almost entirely on the power grid.

ChainCatcher news, according to CoinDesk, Bo Hines, the executive director of the White House Digital Asset Advisory Committee, stated at the Consensus 2025 conference in Toronto that despite challenges in the legislative process, the Trump administration still plans to complete the signing of bills related to stablecoins and market structure before the August congressional recess. Hines emphasized that current legislative negotiations are actively progressing, and the government remains optimistic about this timeline.In response to recent public skepticism regarding the Trump family's involvement in the cryptocurrency business, Hines stated that the president's children, as private business entities, have the legal right to participate in the capital markets and believe that digital assets represent the future direction of the financial industry. He also made it clear that reports about companies purchasing TRUMP tokens will not affect presidential decision-making.Additionally, Hines confirmed that the White House working group is still researching specific implementation plans for establishing a Bitcoin strategic reserve program. This statement continues the Trump administration's policy direction to maintain the United States' leading position in the digital asset space.

ChainCatcher News, Senate Democrats blocked stablecoin legislation supported by the digital asset industry, and Trump's extensive and growing cryptocurrency portfolio has caused a stir.The bill's supporters failed to reach the required 60 votes in Thursday's vote, with a tally of 49 to 48. There is still a possibility for both sides to reach an agreement in the coming weeks, as many Democrats argue that stablecoin regulation is crucial for protecting consumers and providing guidelines for this emerging industry. Trump has recently been heavily promoting the TRUMP coin named after him, and after the token's organizers launched a marketing campaign stating "the largest holders can dine with the president," token sales surged. Democratic Senator Warren and others have claimed that such measures exhibit clear corruption.

ChainCatcher news, Coinbase CEO Brian Armstrong stated in a post today that Congress is at a critical moment this week to advance stablecoin and market structure legislation. The Senate is reviewing the GENIUS Act, which requires 60 votes to initiate debate. Meanwhile, the House is also advancing related work based on the FIT21 framework. Armstrong emphasized that both chambers need to accelerate their actions to ensure comprehensive legislation is passed before August.

ChainCatcher news, according to Cointelegraph, the Australian cryptocurrency industry is urging the newly elected Labor government to prioritize digital asset legislation to ensure that Australia does not fall further behind in the global market.Joy Lam, Global Head of Regulatory and Legal Affairs for Binance Asia Pacific, stated that the exchange has been consulting with Treasury officials on legislative proposals since the end of 2023, and now is the time to take action. John O'Loghlen, Managing Director for Coinbase Asia Pacific, called for the establishment of a cryptocurrency asset working group within the first 100 days of the government's term.The Treasury stated that it will release a consultation paper this year, and any legislative reforms will be implemented in phases to minimize disruption to existing businesses. The legislation will focus on the regulation of digital asset platforms and the modernization of payment systems, using the existing Australian Financial Services License (AFSL) framework as a regulatory basis.

ChainCatcher News, Bank of America stated that it is willing to issue its own stablecoin if Congress enacts relevant legislation.Bank of America is the second-largest lending institution in the United States, and its CEO Brian Moynihan has previously stated, "As long as legislation allows, we will enter the stablecoin business."

ChainCatcher news, Bo Hines, the executive director of the Trump Digital Assets Advisory Committee, stated that the U.S. Congress is actively advancing cryptocurrency legislation, with related bills expected to be completed in the short term. This week, some significant legislative strategic points regarding the efforts of the cryptocurrency industry may be addressed in Congress. He believes that two major cryptocurrency bills can still meet Trump's deadline in August. He also emphasized that the current legislative process is an important step for the U.S. government in promoting a regulatory framework for the cryptocurrency industry, aimed at providing clear legal guidance and regulatory standards for the digital asset market.

ChainCatcher news, according to Crypto In America, U.S. lawmakers are returning to Congress after the Easter recess, prioritizing cryptocurrency legislation with the goal of completing the stablecoin and market structure bills before the August deadline set by President Trump.The House Financial Services Committee and the Agriculture Committee will hold a joint hearing on May 6 to discuss the digital asset legislative blueprint. The Senate is also working to integrate the contents of the 2022 Lummis-Gillibrand bill and the FIT21 bill.