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Russia’s Calculated Currency Decline: A Strategic Shift Amid Economic PressureThe Russian ruble is experiencing a steep decline, nearing the critical threshold of 100 per U.S. dollar—a level that once would have triggered alarm. Surprisingly, the Kremlin appears unbothered by this rapid depreciation, taking no immediate steps to stabilize the currency. According to insiders, the government sees this depreciation as beneficial, aligning with its plans for increased state spending in 2024. With reduced urgency to rescue the ruble, officials are reportedly comfortable with it sliding past 100 per dollar. Compounding the ruble’s troubles is the evolving foreign exchange policy. The Moscow Exchange no longer trades in U.S. dollars or euros, reshaping how the ruble’s value is calculated. Western sanctions have already led to a severe shortage of foreign currency, a situation exacerbated by the U.S. deadline for businesses to exit the Moscow market by October 12. As a result, the ruble has dropped by nearly 9% since the sanctions took effect. Oleg Vyugin, a former Bank of Russia official, dismissed concerns about inflation, though rising prices remain a side effect of the weakening currency. China’s yuan, which has become Russia’s preferred trade currency following Western sanctions, is also gaining strength against the ruble. The Russian currency has fallen by 11% against the yuan, hitting its lowest level since May at 13.26 per yuan. To counterbalance the decline, Russia recently revised capital controls, requiring exporters to convert only 25% of their foreign currency earnings into rubles, down from previous levels. This has led major exporters to reduce their currency sales by 30% in September, as they rely more on rubles for international trade. Despite efforts to manage inflation through interest rate hikes, borrowing costs have soared, surpassing 20% for both domestic and foreign loans. This financial strain has complicated payment systems for exporters, with transactions often delayed by sanctions. In a recent meeting with the Security Council, President Vladimir Putin acknowledged the growing difficulties in cross-border payments. To reduce dependence on the dollar, Russia is working on a new payment system, possibly blockchain-based, which will be discussed further at the upcoming BRICS summit in Kazan. As Russia shifts away from Western financial systems, it aims to reshape international trade and reduce reliance on what it now views as "toxic" currencies like the dollar and euro. $BTC #usdoller #USsenate #RussiaUkraineWar #Write2Earn!

Russia’s Calculated Currency Decline: A Strategic Shift Amid Economic Pressure

The Russian ruble is experiencing a steep decline, nearing the critical threshold of 100 per U.S. dollar—a level that once would have triggered alarm. Surprisingly, the Kremlin appears unbothered by this rapid depreciation, taking no immediate steps to stabilize the currency. According to insiders, the government sees this depreciation as beneficial, aligning with its plans for increased state spending in 2024. With reduced urgency to rescue the ruble, officials are reportedly comfortable with it sliding past 100 per dollar.

Compounding the ruble’s troubles is the evolving foreign exchange policy. The Moscow Exchange no longer trades in U.S. dollars or euros, reshaping how the ruble’s value is calculated. Western sanctions have already led to a severe shortage of foreign currency, a situation exacerbated by the U.S. deadline for businesses to exit the Moscow market by October 12. As a result, the ruble has dropped by nearly 9% since the sanctions took effect. Oleg Vyugin, a former Bank of Russia official, dismissed concerns about inflation, though rising prices remain a side effect of the weakening currency.

China’s yuan, which has become Russia’s preferred trade currency following Western sanctions, is also gaining strength against the ruble. The Russian currency has fallen by 11% against the yuan, hitting its lowest level since May at 13.26 per yuan. To counterbalance the decline, Russia recently revised capital controls, requiring exporters to convert only 25% of their foreign currency earnings into rubles, down from previous levels. This has led major exporters to reduce their currency sales by 30% in September, as they rely more on rubles for international trade.

Despite efforts to manage inflation through interest rate hikes, borrowing costs have soared, surpassing 20% for both domestic and foreign loans. This financial strain has complicated payment systems for exporters, with transactions often delayed by sanctions. In a recent meeting with the Security Council, President Vladimir Putin acknowledged the growing difficulties in cross-border payments. To reduce dependence on the dollar, Russia is working on a new payment system, possibly blockchain-based, which will be discussed further at the upcoming BRICS summit in Kazan. As Russia shifts away from Western financial systems, it aims to reshape international trade and reduce reliance on what it now views as "toxic" currencies like the dollar and euro. $BTC
#usdoller #USsenate #RussiaUkraineWar #Write2Earn!
Trump's Foreign Policy on Russia-Ukraine : What Could a 'Win' Look Like?#TrumpCryptoSupport #USsenate #BinanceSquareFamily #Bitcoin❗ #Crypto_Jobs🎯 Introduction : As the Russia-Ukraine conflict continues to evolve, global eyes are fixed on how U.S. foreign policy could shift under a potential second term for Donald Trump. Trump’s foreign policy style has always been unconventional, marked by direct negotiations, transactional diplomacy, and a focus on “winning” for America. But what would a “win” look like for Trump in the complex and deeply entrenched conflict between Russia and Ukraine? For crypto traders, global investors, and those interested in international relations, understanding Trump's potential approach to this conflict is crucial for navigating future geopolitical and economic landscapes. This blog will explore the possible outcomes Trump might seek in the Russia-Ukraine conflict, examining the political, economic, and strategic dimensions of what a 'win' could entail for his administration and how it may impact the global stage. Trump’s Foreign Policy Legacy with Russia : A Delicate Balancing Act Throughout his presidency, Donald Trump maintained a unique relationship with Russia and its president, Vladimir Putin. While critics accused him of being too soft on Moscow, Trump's supporters pointed to his administration’s sanctions on Russian oligarchs and officials as evidence of a firm stance. Trump’s foreign policy was characterized by transactional diplomacy, often attempting to broker deals that he believed would benefit U.S. interests directly. His handling of Russia reflected his broader approach: negotiations rather than outright confrontation. In the context of the Russia-Ukraine conflict, a Trump “win” would likely prioritize U.S. interests, seeking stability in the region while avoiding costly military entanglements. Trump’s ability to negotiate a deal that benefits the U.S. economically and strategically—without damaging relationships with key allies—would be key to what he would consider a successful resolution. Defining a 'Win' for Trump : Key Scenarios 1. Negotiated Settlement : Avoiding Military Escalation One possible version of a “win” for Trump would involve negotiating a settlement between Russia and Ukraine that brings an end to hostilities without further military escalation. Trump has always touted his negotiation skills and willingness to engage with authoritarian leaders like Putin, which may lead to attempts to broker a ceasefire or peace agreement. In this scenario, Trump would position himself as a peace broker, bringing both sides to the table and working toward a resolution that ends the conflict. While the details of such a settlement are unpredictable, it could involve compromises from both Ukraine and Russia, such as territorial concessions or agreements on regional autonomy for contested areas. The ability to claim responsibility for peace could elevate Trump’s status globally and serve as a key victory for his foreign policy legacy. However, critics would likely argue that this type of settlement could involve concessions that would undermine Ukraine’s sovereignty or security, making it a controversial path forward. Investors, particularly those with interests in Eastern Europe, would have to weigh the potential stabilization of the region against possible long-term economic consequences of such a deal. 2. A Focus on U.S. Economic Interests Trump’s foreign policy often revolves around protecting and advancing U.S. economic interests. In the Russia-Ukraine conflict, a Trump “win” could manifest as securing favorable terms for U.S. companies in any post-conflict reconstruction or resource extraction opportunities. For instance, a negotiated settlement could open up opportunities for U.S. energy companies to invest in Ukraine’s energy sector, particularly in natural gas and renewable energy projects. This would allow Trump to claim an economic victory by securing American jobs and investments while helping Ukraine rebuild. Moreover, access to the Black Sea or increased leverage over European energy markets could boost U.S. economic influence in the region, aligning with Trump’s America-first rhetoric. This scenario may appeal to global investors, especially those in the energy and infrastructure sectors, as it could open up lucrative investment opportunities. For crypto traders, the stabilization of the region and the potential for blockchain technologies to play a role in rebuilding efforts could create new markets and innovations. 3. Reducing European Dependence on Russian Energy Another potential "win" for Trump could involve diminishing European dependence on Russian energy—a long-standing goal of U.S. foreign policy that Trump actively pursued during his presidency. This would entail increasing U.S. liquefied natural gas (LNG) exports to Europe and promoting alternative energy sources that weaken Russia’s leverage over European countries. A focus on energy independence for Europe could strengthen alliances between the U.S. and European nations, bolstering Trump's standing on the global stage. It would also align with his broader goals of reducing U.S. involvement in foreign conflicts while still exercising economic influence over global markets. For investors, this could signal new opportunities in the energy sector, particularly in LNG and renewables, as European nations seek to diversify their energy portfolios. This shift could also benefit crypto traders and blockchain enthusiasts, as decentralized energy trading platforms and blockchain-based solutions for energy logistics may gain traction in a post-conflict Europe focused on energy independence. Strategic Calculations: Geopolitical Power Play 1. Weakening Russia’s Influence For Trump, a win might also be measured in terms of reducing Russia's influence on the global stage. While Trump’s personal rapport with Putin has been the subject of much scrutiny, his administration did pursue policies that constrained Russia’s international ambitions, such as military aid to Ukraine and sanctions on Russian oligarchs. A second-term Trump could seek to further isolate Russia by strengthening NATO and enhancing U.S. military presence in Eastern Europe. This strategy could weaken Russia's power in the region without direct confrontation. Trump's focus would likely be on balancing diplomacy with deterrence, maintaining pressure on Russia through economic sanctions and military alliances, while avoiding large-scale conflict. For global investors, the potential weakening of Russia's geopolitical influence could present both opportunities and risks. Countries bordering Russia may seek greater Western investment as a counterbalance, creating new avenues for trade and development. However, increased tensions could also lead to market volatility, particularly in energy and defense sectors. 2. Shifting Alliances and Power Dynamics Another version of a "win" could involve Trump successfully navigating the shifting power dynamics in Eastern Europe and Central Asia. A Trump-led foreign policy might involve recalibrating relationships with countries in the region to reduce Russia's influence while maintaining the U.S.'s strategic interests. This could mean bolstering partnerships with countries like Poland, the Baltic States, or even Turkey to create a counterweight to Russian power. For investors, this shift could open new opportunities in emerging markets as these countries invest in defense, infrastructure, and technology to strengthen their positions in a changing geopolitical landscape. The Uncertain Path Forward : Potential Risks and Opportunities Trump’s foreign policy is unpredictable by nature, making it difficult to determine exactly how he would handle the ongoing Russia-Ukraine conflict. However, a successful resolution—by Trump’s standards—would likely focus on protecting U.S. interests, achieving a negotiated settlement that avoids further military involvement, and leveraging economic opportunities in the post-conflict landscape. For global investors, Trump’s foreign policy on Russia-Ukraine could present both risks and rewards. On one hand, successful diplomacy could stabilize the region, reduce market volatility, and open up new investment opportunities in energy, infrastructure, and technology. On the other hand, the potential for compromised solutions, weakened alliances, or renewed economic sanctions could create uncertainty in key markets. Crypto traders, investors, and those involved in emerging technologies like AI should monitor developments closely, as the geopolitical shifts resulting from Trump’s foreign policy could have ripple effects across global markets. Increased volatility in traditional markets may create opportunities in alternative assets like cryptocurrencies, while blockchain technology could play a role in post-conflict reconstruction and economic development. Conclusion : A 'win' for Trump in the Russia-Ukraine conflict would likely revolve around securing U.S. interests through strategic diplomacy, economic leverage, and reducing Russia’s global influence. However, such a victory could come with significant risks, including compromised alliances and potential backlash from other global powers. For traders, investors, and crypto enthusiasts, understanding these dynamics is critical to navigating the complex and evolving landscape that a Trump-led foreign policy might create. As the world watches the next chapter of U.S. leadership unfold, the potential outcomes of Trump’s approach to Russia-Ukraine remain a key consideration for global markets.

Trump's Foreign Policy on Russia-Ukraine : What Could a 'Win' Look Like?

#TrumpCryptoSupport #USsenate #BinanceSquareFamily #Bitcoin❗
#Crypto_Jobs🎯

Introduction :

As the Russia-Ukraine conflict continues to evolve, global eyes are fixed on how U.S. foreign policy could shift under a potential second term for Donald Trump. Trump’s foreign policy style has always been unconventional, marked by direct negotiations, transactional diplomacy, and a focus on “winning” for America. But what would a “win” look like for Trump in the complex and deeply entrenched conflict between Russia and Ukraine? For crypto traders, global investors, and those interested in international relations, understanding Trump's potential approach to this conflict is crucial for navigating future geopolitical and economic landscapes.
This blog will explore the possible outcomes Trump might seek in the Russia-Ukraine conflict, examining the political, economic, and strategic dimensions of what a 'win' could entail for his administration and how it may impact the global stage.

Trump’s Foreign Policy Legacy with Russia : A Delicate Balancing Act

Throughout his presidency, Donald Trump maintained a unique relationship with Russia and its president, Vladimir Putin. While critics accused him of being too soft on Moscow, Trump's supporters pointed to his administration’s sanctions on Russian oligarchs and officials as evidence of a firm stance. Trump’s foreign policy was characterized by transactional diplomacy, often attempting to broker deals that he believed would benefit U.S. interests directly. His handling of Russia reflected his broader approach: negotiations rather than outright confrontation.
In the context of the Russia-Ukraine conflict, a Trump “win” would likely prioritize U.S. interests, seeking stability in the region while avoiding costly military entanglements. Trump’s ability to negotiate a deal that benefits the U.S. economically and strategically—without damaging relationships with key allies—would be key to what he would consider a successful resolution.

Defining a 'Win' for Trump : Key Scenarios

1. Negotiated Settlement : Avoiding Military Escalation

One possible version of a “win” for Trump would involve negotiating a settlement between Russia and Ukraine that brings an end to hostilities without further military escalation. Trump has always touted his negotiation skills and willingness to engage with authoritarian leaders like Putin, which may lead to attempts to broker a ceasefire or peace agreement.
In this scenario, Trump would position himself as a peace broker, bringing both sides to the table and working toward a resolution that ends the conflict. While the details of such a settlement are unpredictable, it could involve compromises from both Ukraine and Russia, such as territorial concessions or agreements on regional autonomy for contested areas. The ability to claim responsibility for peace could elevate Trump’s status globally and serve as a key victory for his foreign policy legacy.
However, critics would likely argue that this type of settlement could involve concessions that would undermine Ukraine’s sovereignty or security, making it a controversial path forward. Investors, particularly those with interests in Eastern Europe, would have to weigh the potential stabilization of the region against possible long-term economic consequences of such a deal.

2. A Focus on U.S. Economic Interests

Trump’s foreign policy often revolves around protecting and advancing U.S. economic interests. In the Russia-Ukraine conflict, a Trump “win” could manifest as securing favorable terms for U.S. companies in any post-conflict reconstruction or resource extraction opportunities.
For instance, a negotiated settlement could open up opportunities for U.S. energy companies to invest in Ukraine’s energy sector, particularly in natural gas and renewable energy projects. This would allow Trump to claim an economic victory by securing American jobs and investments while helping Ukraine rebuild. Moreover, access to the Black Sea or increased leverage over European energy markets could boost U.S. economic influence in the region, aligning with Trump’s America-first rhetoric.
This scenario may appeal to global investors, especially those in the energy and infrastructure sectors, as it could open up lucrative investment opportunities. For crypto traders, the stabilization of the region and the potential for blockchain technologies to play a role in rebuilding efforts could create new markets and innovations.

3. Reducing European Dependence on Russian Energy

Another potential "win" for Trump could involve diminishing European dependence on Russian energy—a long-standing goal of U.S. foreign policy that Trump actively pursued during his presidency. This would entail increasing U.S. liquefied natural gas (LNG) exports to Europe and promoting alternative energy sources that weaken Russia’s leverage over European countries.
A focus on energy independence for Europe could strengthen alliances between the U.S. and European nations, bolstering Trump's standing on the global stage. It would also align with his broader goals of reducing U.S. involvement in foreign conflicts while still exercising economic influence over global markets. For investors, this could signal new opportunities in the energy sector, particularly in LNG and renewables, as European nations seek to diversify their energy portfolios.
This shift could also benefit crypto traders and blockchain enthusiasts, as decentralized energy trading platforms and blockchain-based solutions for energy logistics may gain traction in a post-conflict Europe focused on energy independence.

Strategic Calculations: Geopolitical Power Play

1. Weakening Russia’s Influence

For Trump, a win might also be measured in terms of reducing Russia's influence on the global stage. While Trump’s personal rapport with Putin has been the subject of much scrutiny, his administration did pursue policies that constrained Russia’s international ambitions, such as military aid to Ukraine and sanctions on Russian oligarchs.
A second-term Trump could seek to further isolate Russia by strengthening NATO and enhancing U.S. military presence in Eastern Europe. This strategy could weaken Russia's power in the region without direct confrontation. Trump's focus would likely be on balancing diplomacy with deterrence, maintaining pressure on Russia through economic sanctions and military alliances, while avoiding large-scale conflict.
For global investors, the potential weakening of Russia's geopolitical influence could present both opportunities and risks. Countries bordering Russia may seek greater Western investment as a counterbalance, creating new avenues for trade and development. However, increased tensions could also lead to market volatility, particularly in energy and defense sectors.

2. Shifting Alliances and Power Dynamics

Another version of a "win" could involve Trump successfully navigating the shifting power dynamics in Eastern Europe and Central Asia. A Trump-led foreign policy might involve recalibrating relationships with countries in the region to reduce Russia's influence while maintaining the U.S.'s strategic interests. This could mean bolstering partnerships with countries like Poland, the Baltic States, or even Turkey to create a counterweight to Russian power.
For investors, this shift could open new opportunities in emerging markets as these countries invest in defense, infrastructure, and technology to strengthen their positions in a changing geopolitical landscape.

The Uncertain Path Forward : Potential Risks and Opportunities

Trump’s foreign policy is unpredictable by nature, making it difficult to determine exactly how he would handle the ongoing Russia-Ukraine conflict. However, a successful resolution—by Trump’s standards—would likely focus on protecting U.S. interests, achieving a negotiated settlement that avoids further military involvement, and leveraging economic opportunities in the post-conflict landscape.
For global investors, Trump’s foreign policy on Russia-Ukraine could present both risks and rewards. On one hand, successful diplomacy could stabilize the region, reduce market volatility, and open up new investment opportunities in energy, infrastructure, and technology. On the other hand, the potential for compromised solutions, weakened alliances, or renewed economic sanctions could create uncertainty in key markets.
Crypto traders, investors, and those involved in emerging technologies like AI should monitor developments closely, as the geopolitical shifts resulting from Trump’s foreign policy could have ripple effects across global markets. Increased volatility in traditional markets may create opportunities in alternative assets like cryptocurrencies, while blockchain technology could play a role in post-conflict reconstruction and economic development.

Conclusion :

A 'win' for Trump in the Russia-Ukraine conflict would likely revolve around securing U.S. interests through strategic diplomacy, economic leverage, and reducing Russia’s global influence. However, such a victory could come with significant risks, including compromised alliances and potential backlash from other global powers. For traders, investors, and crypto enthusiasts, understanding these dynamics is critical to navigating the complex and evolving landscape that a Trump-led foreign policy might create. As the world watches the next chapter of U.S. leadership unfold, the potential outcomes of Trump’s approach to Russia-Ukraine remain a key consideration for global markets.
US Election-Year Bull Runs : How Bitcoin Historically Surged Post-Victory #BTC☀ #Bitcoin❗ #BinanceSquareFamily #USsenate #usdoller With just 65 days remaining until the U.S. presidential election, bitcoin wrapped up August with an 8.6% decline compared to where it started the month. Historically, in the last two election cycles, bitcoin’s value has only shown substantial appreciation after the election had ended and a victor was declared
US Election-Year Bull Runs : How Bitcoin Historically Surged Post-Victory

#BTC☀ #Bitcoin❗ #BinanceSquareFamily #USsenate
#usdoller

With just 65 days remaining until the U.S. presidential election, bitcoin wrapped up August with an 8.6% decline compared to where it started the month. Historically, in the last two election cycles, bitcoin’s value has only shown substantial appreciation after the election had ended and a victor was declared
🚨President Biden Vetoes Resolution Overturning SEC Guidance🚨 President Joe Biden has vetoed a House Joint Resolution aimed at repealing the SEC's Staff Accounting Bulletin 121.This veto was announced Friday afternoon, before the House or Senate had a chance to vote on it. #JoeBiden #SEC #USsenate 1/5🧵
🚨President Biden Vetoes Resolution Overturning SEC Guidance🚨

President Joe Biden has vetoed a House Joint Resolution aimed at repealing the SEC's Staff Accounting Bulletin 121.This veto was announced Friday afternoon, before the House or Senate had a chance to vote on it.

#JoeBiden #SEC #USsenate

1/5🧵
$SOL has shown mixed market movements in recent weeks, characterized by short-term volatility and significant whale activity. The recent upward trend was partly fueled by a large whale purchase of $23 million worth of SOL, which suggests growing market confidence in the asset. SOL's RSI indicates the possibility of price stabilization. The RSI has been approaching the neutral zone, implying that the bearish momentum could be weakening. Support levels around $122-$130 remain crucial for determining the next move. A hold at these levels would be bullish. In the short term,Solana remains vulnerable to external market pressures, but its solid fundamentals and developer activity keep it in a positive light within the crypto space. FOLLOW @Zigasjay for more analysis. #Debate2024 #DOGSONBINANCE #UsaElections #USsenate
$SOL has shown mixed market movements in recent weeks, characterized by short-term volatility and significant whale activity. The recent upward trend was partly fueled by a large whale purchase of $23 million worth of SOL, which suggests growing market confidence in the asset.

SOL's RSI indicates the possibility of price stabilization. The RSI has been approaching the neutral zone, implying that the bearish momentum could be weakening. Support levels around $122-$130 remain crucial for determining the next move. A hold at these levels would be bullish.

In the short term,Solana remains vulnerable to external market pressures, but its solid fundamentals and developer activity keep it in a positive light within the crypto space.

FOLLOW @Crypto Zillion for more analysis.

#Debate2024 #DOGSONBINANCE #UsaElections #USsenate
House Democrats Not Forced to Oppose Two Pro-Crypto Bills Despite Strong OppositionDemocratic Party members of the United States House of Representatives will not be mandated to vote against two Republican-led pro-crypto bills expected to come up for a floor vote soon, despite party leaders expressing strong opposition. A leaked email dated May 20, shared by Politico, revealed that Democratic leaders have not officially urged members to vote no on the Financial Innovation and Technology for the 21st Century (FIT21) Act and the CBDC Anti-Surveillance State Act, H.R. 4763 and H.R. 5403, respectively. However, they strongly oppose these bills. Overview of the Bills Financial Innovation and Technology for the 21st Century (FIT21) Act The FIT21 Act aims to clarify the process for classifying cryptocurrencies as commodities or securities and predominantly assign regulatory control of the sector to the U.S. Commodity Futures Trading Commission (CFTC). The U.S. crypto industry and lobbyists support the bill, with 60 companies urging the House to pass it in a letter dated May 16. CBDC Anti-Surveillance State Act The CBDC Anti-Surveillance State Act seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). Opposition from Democratic Leaders The email noted that Representatives Maxine Waters and David Scott strongly oppose the FIT21 Act, with Waters also opposing the CBDC Act. Politico later obtained a letter from the pair urging a vote against FIT21. Politico reporter Eleanor Mueller reported that House Democratic leaders announced they would not whip against the Republican's crypto bill, referring to FIT21. Criticisms of FIT21 In the email, Democratic leaders highlighted concerns over parts of the FIT21 Act, particularly its establishment of a process for trading digital commodities in the secondary market if they were initially offered as part of investment contract securities, as defined by the Securities and Exchange Commission (SEC) using the Howey test. "This language undermines decades of legal precedent and case law, thereby creating uncertainty in our traditional securities market," the email stated. Leaders also argued that the bill "weakens investor protections and opens the door to fraud and market manipulation" by providing a "safe harbor" for entities to lodge an intent to register, effectively shielding them from the SEC until the SEC and CFTC finalize crypto rules. Criticisms of the CBDC Anti-Surveillance State Act The email also criticized the CBDC Anti-Surveillance State Act, arguing that halting CBDCs would undermine the "primacy of the U.S. dollar," especially as other countries developing their own CBDCs seek to evade sanctions. "According to the Congressional Budget Office (CBO), the bill’s overly broad definition of CBDC raises concerns the bill could undermine the Fed’s ability to conduct monetary policy," the email added. This concern is particularly pressing as the Fed attempts to navigate a soft landing regarding inflation. Upcoming Debate and Vote According to Politico’s Mueller, floor debate and passage of FIT21 are expected on Wednesday, May 22. Despite the Democratic leaders' strong opposition, party members are not being forced to vote against the bills, allowing for individual discretion in their votes. #crypto #USsenate Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

House Democrats Not Forced to Oppose Two Pro-Crypto Bills Despite Strong Opposition

Democratic Party members of the United States House of Representatives will not be mandated to vote against two Republican-led pro-crypto bills expected to come up for a floor vote soon, despite party leaders expressing strong opposition.
A leaked email dated May 20, shared by Politico, revealed that Democratic leaders have not officially urged members to vote no on the Financial Innovation and Technology for the 21st Century (FIT21) Act and the CBDC Anti-Surveillance State Act, H.R. 4763 and H.R. 5403, respectively. However, they strongly oppose these bills.
Overview of the Bills
Financial Innovation and Technology for the 21st Century (FIT21) Act
The FIT21 Act aims to clarify the process for classifying cryptocurrencies as commodities or securities and predominantly assign regulatory control of the sector to the U.S. Commodity Futures Trading Commission (CFTC). The U.S. crypto industry and lobbyists support the bill, with 60 companies urging the House to pass it in a letter dated May 16.
CBDC Anti-Surveillance State Act
The CBDC Anti-Surveillance State Act seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC).
Opposition from Democratic Leaders
The email noted that Representatives Maxine Waters and David Scott strongly oppose the FIT21 Act, with Waters also opposing the CBDC Act. Politico later obtained a letter from the pair urging a vote against FIT21.
Politico reporter Eleanor Mueller reported that House Democratic leaders announced they would not whip against the Republican's crypto bill, referring to FIT21.
Criticisms of FIT21
In the email, Democratic leaders highlighted concerns over parts of the FIT21 Act, particularly its establishment of a process for trading digital commodities in the secondary market if they were initially offered as part of investment contract securities, as defined by the Securities and Exchange Commission (SEC) using the Howey test.
"This language undermines decades of legal precedent and case law, thereby creating uncertainty in our traditional securities market," the email stated.
Leaders also argued that the bill "weakens investor protections and opens the door to fraud and market manipulation" by providing a "safe harbor" for entities to lodge an intent to register, effectively shielding them from the SEC until the SEC and CFTC finalize crypto rules.
Criticisms of the CBDC Anti-Surveillance State Act
The email also criticized the CBDC Anti-Surveillance State Act, arguing that halting CBDCs would undermine the "primacy of the U.S. dollar," especially as other countries developing their own CBDCs seek to evade sanctions.
"According to the Congressional Budget Office (CBO), the bill’s overly broad definition of CBDC raises concerns the bill could undermine the Fed’s ability to conduct monetary policy," the email added. This concern is particularly pressing as the Fed attempts to navigate a soft landing regarding inflation.
Upcoming Debate and Vote
According to Politico’s Mueller, floor debate and passage of FIT21 are expected on Wednesday, May 22. Despite the Democratic leaders' strong opposition, party members are not being forced to vote against the bills, allowing for individual discretion in their votes.
#crypto #USsenate

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The MACD $ZK indicates a consolidation phase,where price movement could swing either direction depending on volume and market conditions. If $ZK breaks this support we will expect an uptrend #USsenate #CryptoNewss #DOGSONBINANCE
The MACD $ZK indicates a consolidation phase,where price movement could swing either direction depending on volume and market conditions.

If $ZK breaks this support we will expect an uptrend

#USsenate #CryptoNewss #DOGSONBINANCE
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