The recent conviction of Rowland Marcus Andrade marks a significant moment in the ongoing battle against cryptocurrency fraud. Andrade’s case underscores the challenges regulators face in ensuring compliance within the
Navigating the volatile world of cryptocurrency often requires a keen understanding of broader financial markets, and the Forex market is no exception. Recent shifts in currency valuations can ripple through the crypto sphere, impacting trading strategies and investment decisions. Today, we delve into a significant development in the Forex arena: HSBC’s updated GBP/USD forecast . While the financial giant has raised its projections for the pair, a shadow of potential weakness looms on the horizon. Let’s unpack what this means for traders and investors alike, exploring the factors driving this revised outlook and what cautionary signals to watch out for. Decoding the Latest GBP/USD Forecast from HSBC HSBC, a global financial institution, has recently adjusted its GBP/USD forecast , offering a revised perspective on the future trajectory of this major currency pair. This update is noteworthy because HSBC’s analyses are closely watched by market participants worldwide, often influencing trading strategies and investment decisions. But what exactly does this new forecast entail, and why should you pay attention, even if you’re primarily focused on crypto markets? The core of the update lies in an increased near-term optimism for the Pound against the US Dollar. This upward revision suggests that HSBC analysts believe the GBP/USD pair is likely to appreciate in the immediate future. This positive adjustment could stem from a variety of factors, including: Positive Economic Indicators in the UK: Stronger-than-expected economic data from the United Kingdom, such as improved GDP figures, declining unemployment rates, or robust retail sales, can bolster the Pound’s value. Shifting Monetary Policy Expectations: Anticipation of more hawkish monetary policy from the Bank of England (BoE) compared to the Federal Reserve (Fed) in the US can make the Pound more attractive to investors seeking higher yields. For instance, if markets expect the BoE to raise interest rates more aggressively than the Fed, demand for GBP could increase, pushing the GBP/USD rate higher. Weakening US Dollar Sentiment: Conversely, factors that weaken the US Dollar, such as concerns about the US economic outlook, rising inflation without corresponding interest rate hikes, or geopolitical uncertainties, can indirectly strengthen the GBP/USD pair. Technical Factors and Market Positioning: Sometimes, purely technical factors, like trend reversals on charts or shifts in market positioning (e.g., speculators reducing their short positions on the Pound), can contribute to a revised GBP/USD forecast . It’s important to remember that these forecasts are not guarantees, but rather informed opinions based on current data and analysis. However, understanding the reasoning behind these revisions can provide valuable context for your own market assessments. Why is the Forex Forecast Relevant to the Crypto Market? You might be wondering, “Why should I, as a crypto enthusiast, care about a Forex forecast ?” The answer is multifaceted, highlighting the interconnectedness of global financial markets: Risk Sentiment Correlation: Forex markets, particularly major pairs like GBP/USD, often reflect broader risk sentiment in global markets. When risk appetite is high, currencies like the Pound (considered risk-on) can strengthen against safe-haven currencies like the US Dollar. This risk-on sentiment frequently spills over into the cryptocurrency market, leading to increased demand and potentially higher prices for digital assets. Dollar’s Dominance: The US Dollar remains the world’s reserve currency and the primary pricing currency for many commodities and assets, including cryptocurrencies. Fluctuations in the Dollar’s value directly impact the price of Bitcoin and other cryptos when priced against USD. A weaker Dollar, as potentially implied by parts of HSBC’s analysis, can make assets priced in USD, including crypto, appear relatively cheaper and more attractive. Macroeconomic Insights: Forex forecasts are built upon macroeconomic analysis, considering factors like inflation, interest rates, economic growth, and geopolitical events. These same macroeconomic forces influence the cryptocurrency market. Understanding the Forex outlook provides a valuable lens through which to view the broader economic landscape affecting all asset classes, including crypto. Trading Strategy Diversification: For traders looking to diversify their strategies, insights from Forex forecasts can inform cross-market trading approaches. For example, if a weakening Dollar is anticipated, traders might consider strategies that benefit from a weaker USD, both in Forex and crypto markets. In essence, staying informed about Forex developments, such as HSBC’s Forex forecast revisions, equips you with a more holistic understanding of the financial environment that shapes the crypto market. The Looming Weakness: What Cautions Does HSBC Highlight? While HSBC’s revised Currency Market outlook includes a near-term upgrade for GBP/USD, it’s crucial to acknowledge the caveat – the anticipation of weakness ahead. This isn’t a purely bullish signal; instead, it’s a nuanced perspective that suggests a potential temporary upswing followed by a downturn. What are the potential sources of this looming weakness? Persistent Inflationary Pressures: While some inflation indicators might be showing signs of easing, persistent inflationary pressures in the UK and globally could still weigh on economic growth. If inflation remains stubbornly high, it could necessitate more aggressive interest rate hikes, potentially slowing down economic activity and impacting the Pound negatively in the medium to long term. Economic Slowdown Risks: The global economy faces headwinds from various sources, including geopolitical instability, supply chain disruptions, and the lagged effects of previous interest rate increases. A significant economic slowdown, particularly in the UK or globally, could diminish demand for the Pound. Divergence in Central Bank Policies: While HSBC might anticipate near-term hawkishness from the BoE, future policy decisions are uncertain. If the Fed becomes more aggressive in its monetary policy tightening than currently anticipated, or if the BoE becomes less hawkish due to economic concerns, this could shift the dynamics and favor the US Dollar, weakening the Pound US Dollar pair. Geopolitical Risks: Unforeseen geopolitical events can trigger significant market volatility and currency fluctuations. Escalations in existing conflicts or new geopolitical tensions could impact investor sentiment and lead to shifts in currency valuations, potentially weakening the Pound. This element of caution in HSBC’s analysis is vital. It suggests that while there might be short-term opportunities for GBP appreciation, the longer-term outlook remains uncertain and potentially tilted towards weakness. Traders and investors should be prepared for potential volatility and downside risks. Actionable Insights: Navigating the GBP/USD Landscape So, how can you translate this Currency Market analysis into actionable insights, particularly if you are involved in crypto trading or investment? Short-Term Trading Opportunities: The revised positive near-term GBP/USD forecast might present short-term trading opportunities in the Forex market. Traders could consider strategies that capitalize on potential GBP strength against the USD in the immediate future. However, this should be approached with caution and robust risk management, given the anticipated weakness ahead. Crypto Market Correlation Awareness: Be mindful of the potential correlation between GBP/USD movements and the cryptocurrency market. A strengthening Pound, particularly if driven by positive risk sentiment, could coincide with positive movements in crypto prices. Conversely, a weakening Pound, especially if linked to risk aversion, might signal caution for crypto markets as well. Dollar-Cost Averaging Considerations: For long-term crypto investors, understanding the Pound US Dollar outlook can inform dollar-cost averaging strategies. If a weaker Dollar is anticipated in the medium term (despite potential short-term GBP strength), it might be strategically advantageous to accumulate crypto assets when the Dollar is relatively stronger. Diversification and Hedging: The uncertainty highlighted in HSBC’s analysis underscores the importance of diversification. Holding a diversified portfolio across different asset classes, including Forex, crypto, and traditional assets, can help mitigate risks associated with volatility in any single market. Forex instruments can also be used to hedge against currency risk in crypto portfolios, although this requires careful consideration and understanding of hedging strategies. Continuous Monitoring: Financial markets are dynamic. Relying solely on a single forecast is insufficient. Continuously monitor economic data releases, central bank announcements, geopolitical developments, and market sentiment to stay ahead of potential shifts in the Forex Forecast and the broader market landscape. By integrating insights from Forex analysis into your broader market understanding, you can make more informed decisions in the crypto space and navigate market fluctuations with greater confidence. Conclusion: A Cautiously Optimistic Glimpse with a Reality Check HSBC’s updated GBP/USD forecast offers a fascinating glimpse into the complexities of the Currency Market . The raised near-term outlook provides a dose of optimism, suggesting potential opportunities for GBP strength. However, the crucial caveat of looming weakness serves as a vital reality check. This forecast is not a straightforward bullish signal but rather a nuanced perspective that demands careful consideration. For crypto market participants, understanding these Forex dynamics is increasingly important. The interconnectedness of global finance means that shifts in major currency pairs like GBP/USD can have ripple effects across all asset classes, including digital currencies. By staying informed, adapting strategies, and exercising caution, you can navigate the ever-evolving financial landscape with greater resilience and insight. To learn more about the latest Forex market trends, explore our article on key developments shaping currency valuations and trading strategies.
In the ongoing debate over Bitcoin’s market trajectory, two prominent crypto analysts have shared contrasting viewpoints on X, underscoring the community’s divided sentiment. While one maintains that a drastic downturn remains possible, the other posits that the worst of the market downturn has already passed—citing a notable 87.5% probability. Bitcoin Bears In Trouble? Crypto analyst Doctor Profit (@DrProfitCrypto) posted on X and laid out two potential paths for Bitcoin: “There are two scenarios: A) Bottom to be 68-74k region in normal market, B) Full crash towards 50k in Black Swan event.” He did not provide a specific probability for either outcome but emphasized that a Black Swan event—a term used to describe a rare, unexpected event that can drastically impact markets—cannot be ruled out. While noting that such an extraordinary downturn was previously unlikely, he now concedes that recent shifts in the macro landscape may leave room for it:“Take your bets, I would say that a Black Swan event was very unlikely in the last few months, but ask me now, I would not rule it out, rather welcome it.” Related Reading: Bitcoin Teeters On The Edge: Will This Pivot Hold Or Collapse? In direct contrast, crypto analyst Astronomer (@astronomer_zero) responded with a more bullish outlook, asserting that the bottom is already behind us. He referenced a track record of Bitcoin price reversals around Federal Open Market Committee (FOMC) meetings, claiming it works “14 out of 16 times,” or roughly 87.5% of the time. “Not guarantees, but an 87.5% chance, granted the chart below and all the confluences I already presented. So far so good.” His approach relies on mapping out price movements in proximity to FOMC dates, noting that markets often price in interest rate decisions (and related news) before official announcements. Astronomer’s method contends that Bitcoin typically finds local bottoms in a window spanning from up to five “2D bars” before an FOMC date to the day of the meeting itself. “All it requires is flip on a daily (or 2 daily in my case to keep the chart clean) timeframe, plot out all the dates FOMC meeting appeared, and see what price did. This shows that indeed price tends to reverse when time is nearing into FOMC. The caveat is that the price reverses before or at the very latest, right at the FOMC day,” the analyst writes. Related Reading: Bitcoin Shows Signs of Recovery—Is the Whale Sell-Off Finally Over? He points out that the next FOMC meeting is scheduled for March 19, meaning the bottom—if the historical pattern holds—should appear no later than that date: “Works almost every time, 14 out of 16 times in fact (or 87.5% of the time)… The time difference the bottom happens versus the FOMC day is usually 0 to 5 2D bars before the exact date. Given the next FOMC is the 19th of March, that means the low is in the latest that day and the earliest the 5th of March.” To bolster his argument, Astronomer points to what he perceives as “peaking fear” in the market. He views heightened pessimism and “cautionary posts out of nowhere” from established traders as typical signals that a rebound could be imminent: “Sentiment wise, fear is peaking to hilarious levels. Even ‘Reputable’ traders are protecting their reputation I don’t blame anyone’s methods, but I take it as a great sign of a bottom.” At press time, BTC traded at $83,277. Featured image created with DALL.E, chart from TradingView.com
Is Litecoin on the brink of a major breakout while Hyperliquid gears up for a rebound? The latest LTC price analysis reveals continued strength, with Litecoin showing resilience amid market volatility and targeting a potential surge to $370. Meanwhile, the Hyperliquid price dip of 15% has triggered interest from whales, with millions of dollars flowing into HYPE, signaling a possible sharp recovery. Amid these market moves, Web3Bay is taking a different path, focusing on transforming e-commerce through decentralization. By eliminating middlemen and enabling direct peer-to-peer transactions, Web3Bay offers lower fees, greater transparency, and full control over user data—something traditional e-commerce giants simply can’t provide. For those looking for the best long term crypto, Web3Bay’s innovative approach could make it a top contender. Web3Bay: The Future of Decentralized E-Commerce Web3Bay is on a mission to transform online shopping through decentralization. By removing middlemen and enabling direct peer-to-peer transactions, Web3Bay offers lower fees, greater transparency, and full control over user data. This blockchain-powered approach makes it a strong contender for those seeking the best long term crypto, especially in a market where traditional e-commerce giants often prioritize profits over user benefits. The Web3Bay presale is already making headlines, with over $1.6 million raised and more than 395 million 3BAY tokens sold. Currently, in its 5th stage, the presale offers 3BAY tokens at a price of $0.00524. Early supporters are seeing real potential here, as the projected launch price of $0.1959 per token suggests a substantial opportunity for growth. The presale’s structured stages, with increasing token prices, also provide clear incentives for early participation. Web3Bay’s unique value proposition is not just in its tokenomics but also in its practical use case. The platform’s dual payment system, supporting both cryptocurrency and traditional options like PayPal, bridges the gap between Web2 and Web3 users. With its focus on rewarding users and ensuring transparency, Web3Bay is shaping up to be more than just another crypto project—it’s building a marketplace that could well be among the best long term crypto choices for those looking to benefit from a decentralized e-commerce revolution. LTC Price Analysis: Is Litecoin Set for a Breakout? The latest LTC price analysis suggests that Litecoin could be gearing up for a significant move. After showing strength with a 10% increase amid broader market uncertainty, Litecoin is targeting a breakout towards the $370 range high. Analysts are watching closely as the LTC price analysis indicates that the coin’s strong performance against Bitcoin and its resilience during market dips could signal a bullish trend. On the technical front, Litecoin has formed a 5-year-long uptrend, with the weekly chart showing multiple resistance breakouts. The recent absorption of a major sell-off and the sustained interest in LTC add to the positive outlook. If Litecoin manages to break the critical $140 resistance level, the next target could be $370, making it a coin to watch for those looking for robust opportunities in the market. Hyperliquid Price Dip: Are Whales Betting on a Rebound? The recent Hyperliquid price dip of 15% has caught the market’s attention, but the smart money seems to see an opportunity. With whales accumulating millions of dollars in HYPE tokens, including a $1.5 million purchase and a $3.5 million limit order, the Hyperliquid price dip might be setting the stage for a significant rebound. The platform’s strong fundamentals, including its $624 million total value locked, add weight to the bullish outlook. Technical indicators also suggest potential for a recovery. The Relative Strength Index (RSI) has bounced back to 50, and the 30-period moving average is showing signs of life. Market analysts predict that if buying pressure continues, HYPE could hit $25 in the coming weeks and possibly reach $30 by the end of Q2 2025. The ongoing whale activity reinforces the possibility of a strong turnaround. The Final Take The latest LTC price analysis points to a potential breakout for Litecoin, with the coin holding strong and targeting $370 if it breaks the critical $140 resistance. Meanwhile, the Hyperliquid price dip has led to significant whale accumulation, suggesting a possible rebound to $25 and even $30 by the end of Q2 2025. Amid these trends, Web3Bay is making its mark by transforming e-commerce with its decentralized model. By removing middlemen and enabling peer-to-peer transactions, Web3Bay offers lower fees, greater transparency, and complete control over user data. This innovative approach positions Web3Bay as the best long term crypto, offering real utility and a clear path to growth. For those looking to be part of the e-commerce revolution, Web3Bay’s presale presents a strong opportunity. Join Web3Bay Presale Now: Presale: https://web3bay.io/buy Website: https://web3bay.io/ Twitter: https://x.com/web3bayofficial Instagram: https://www.instagram.com/web3bayofficial/ The post Hyperliquid Price Dips 15% – Whales Move to Litecoin and Web3Bay for the Best Gains of 2025 appeared first on TheCoinrise.com .
A widely followed crypto analyst is warning that Bitcoin ( BTC ) may plummet in value if one key support level breaks down. In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 244,000 followers on the social media platform X that Bitcoin may revisit the $60,000 range if BTC loses $78,000 as support. However, he says if Bitcoin can reclaim the $90,000 range, the flagship crypto asset may reach its all-time high of about $109,000. “BTC basically just two paths. This low established at $78,000 feels really vital and if we lose that, you just see mid-$60,000s. If we can somehow get back within the range at $90,000, you probably see a retest of ATH (all-time highs). But that’s a while away. Until then, it’s mostly a waiting game. Expect a lot more volatility for a bit until we actually see where this bottoms and then probably some calm after. Best to stay patient.” Source: Altcoin Sherpa/X Next up, the analyst says that layer-1 chain Aptos ( APT ) may have found a market bottom after bouncing off the $4.80 level. “Most alts are going to keep going down but I think some of these alts have bottomed. Coins that have (relatively) maintained their lows since early February despite all the volatility and chopped for the last 1.5 months or so. APT, ACT are examples.” Source: Altcoin Sherpa/X Bitcoin is trading for $82,757 at time of writing, flat on the day. Meanwhile, Aptos is trading for $5.12 at time of writing, down 7.8% in the last 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Trader Says Bitcoin Could Go Much Lower if Vital Support Level Crumbles, Maps Path Forward for Aptos appeared first on The Daily Hodl .
The founder of a cryptocurrency exchange whose namesake was tied to Anti-Money Laundering (AML) was found guilty of wire fraud and money laundering in a California court. In a March 12 trial in the US District Court for the Northern District of California, a jury found AML Bitcoin creator Rowland Marcus Andrade guilty of two felony counts as part of a scheme to defraud investors. Authorities initially filed criminal charges against Andrade in June 2020 in parallel to a civil case filed by the US Securities and Exchange Commission (SEC) against the AML Bitcoin creator and the NAC Foundation, for which he was the founder and CEO. “Mr. Andrade’s outrageous lies lured and scammed individuals into investing their hard-earned money into a new cryptocurrency with fabricated features,” said Linda Nguyen, the IRS Criminal Investigation Oakland Field Office Special Agent in Charge. “But there is nothing advanced about this scheme. Rowland Marcus Andrade stole money from innocent people and used it to further his personal wealth.” Rowland Marcus Andrade jury verdict on March 12. Source: PACER The SEC’s civil case against Andrade was notable for the involvement of political lobbyist Jack Abramoff, who served four years in prison between 2006 and 2010 following his conviction on mail fraud, conspiracy to bribe public officials and tax evasion. A judge agreed to stay the SEC lawsuit in January 2021 until the conclusion of Andrade’s criminal case, suggesting that it may once again proceed soon. The June 2020 indictment alleged the NAC Foundation claimed a cryptocurrency that AML Bitcoin would launch — it never did — would comply with money laundering and Know Your Customer (KYC) regulations. Andrade used those claims for an initial coin offering between 2017 and 2018. According to the information presented at his trial, the AML Bitcoin creator diverted more than $2 million in proceeds from the sale of the platform, spending it on real estate and luxury automobiles. Related: IRS wants court to toss crypto exec’s appeal over bank record summons “Andrade falsely claimed, among other misrepresentations, that the Panama Canal Authority was close to permitting AML Bitcoin to be used for ships passing through the Panama Canal when no such agreement existed,” said the Justice Department. The AML Bitcoin creator is scheduled to return to court for a sentencing hearing on July 22, having remained free on a $75,000 bond since 2020 with some travel restrictions. He faces a maximum penalty of 20 years in prison for the wire fraud count and 10 years for the money laundering count. Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
Shiba Inu (SHIB) price has gained attention recently, but it is struggling to maintain momentum. Currently, SHIB is hovering near the $0.000011 support level, showing difficulty in recovering. Over the past week, the coin has dropped by 10%, following the general downturn in the broader crypto market. With this in mind, here are the top 5 risks that could further impact Shiba Inu’s price movement. Top 5 Factors That Could Affect Shiba Inu Price The Shiba Inu price continues to feel the impact of various market factors, with a direct correlation to the performance of its competitor, Dogecoin (DOGE). As DOGE struggles, losing 17% in value over the past week, Shiba Inu also experiences a downturn. This negative trend highlights the close relationship between these two meme coins in the broader crypto market. The meme coin sector, in general, is witnessing a decline. With a market capitalization of $2.63 trillion, the sector is down by 1.64%. As the second-largest meme-based coin after Dogecoin, Shiba Inu has not been immune to this dip. Furthermore, new meme coins like PENGU, TRUMP, FARTCOIN, and Ai16z are gaining attention, which threatens Shiba Inu’s position in the market. Another factor influencing Shiba Inu’s price is the price of BTC price , which is currently facing uncertainty. Analysts predict that BTC could fall to $70K or even $65K, causing a ripple effect across the cryptocurrency market. Shiba Inu, being linked to the performance of Bitcoin and other major altcoins, may see further declines if Bitcoin’s price continues to struggle. In addition, the broader macroeconomic outlook plays a crucial role in shaping market sentiment. Potential Federal Reserve interest rate hikes or delays in cuts could trigger broader market corrections , affecting cryptocurrencies like Shiba Inu. The ongoing trade tensions under Trump’s leadership also create uncertainty in the stock market, which could further pressure cryptocurrencies, including Shiba Inu. SHIB Price Shows Bearish Signals, Risks a 33% Decline The SHIB price hovered at $0.00001197 on March 13, 2025, experiencing a slight dip of 9%. In the past 24-hours, the meme coins showed some volatility, with support levels at $0.00001150 and resistance near $0.000013. This suggests a potential risk of further decline if the downward pressure persists. The Moving Average Convergence Divergence indicator shows a bearish crossover, with the MACD line (blue) moving below the signal line (orange). The histogram also reflects negative momentum, which further supports the possibility of continued bearish movement. If this trend continues, the Shiba Inu price prediction could see a drop toward the $0.000008 mark, representing a potential 33% decline from its current price. Additionally, the Chaikin Money Flow (CMF) indicator remains positive at 0.03, indicating that there is still some buying pressure in the market. Source: TradingView To sum up, the Shiba Inu price faces significant risks, including its relationship with Dogecoin, competition from new meme coins, Bitcoin’s uncertainty, and macroeconomic challenges. If these risks persist, SHIB’s price could see further declines. The post Top 5 Risks That Could Impact Shiba Inu Price appeared first on CoinGape .
Following Donald Trump’s reelection, Michael Saylor’s Strategy rapidly acquired Bitcoin, but recent market shifts indicate a potential change in approach. Despite being a dominant force in the Bitcoin market, Strategy’s
The company’s Bitcoin purchases occurred quickly following Donald Trump’s reelection but have cooled as spot Bitcoin ETFs shed assets.
The post U.S. Senate Banking Committee Advances Stablecoin Bill with Bipartisan Support; Full Senate Vote Next appeared first on Coinpedia Fintech News Under President Trump’s encouragement for the crypto sector, the U.S. Senate Banking Committee has successfully pushed forward a bill regulating stablecoins. This marks a significant move towards having the legislation reach President Trump’s desk for his signature. The bill cleared the committee with an 18-6 vote, benefitting from the support of five Senate Democrats who joined Republicans in advancing the proposal. Stablecoin Regulation Bill Heads Toward Trump The U.S. Senate Banking Committee has moved forward with the cryptocurrency industry’s stablecoin regulation bill, marking a critical move towards presidential approval. After obtaining its inaugural committee endorsement, the bill aimed at regulating U.S. stablecoin issuers federally is poised for a Senate vote, with a similar bill pending in the House of Representatives. Despite several obstacles ahead, such as reconciling differences between the Senate and House versions, the committee has successfully passed the bill with an 18-6 vote. Source Among the Democrats supporting the passage of the GENIUS Act were bill co-sponsor Angela Alsobrooks and Senate Banking Committee members Mark Warner, Andy Kim, Lisa Blunt Rochester, and Ruben Gallego. Bill Hagerty, the bill’s sponsor, expressed his aim to bring the bill to a full Senate vote by the end of April. Also read: Just In: Senator Hagerty Introduces GENIUS Act to Regulate Stablecoins At the Senate Banking Committee meeting on Thursday, Senator Elizabeth Warren, a known skeptic of cryptocurrency, proposed several amendments to the GENIUS Act. This legislation aims to establish a legal framework allowing nonbank stablecoin issuers to operate within the U.S. economy. Senator Elizabeth Warren suggested modifications to the GENIUS Act that would blacklist stablecoin issuers if their tokens were used for illegal activities, such as transactions with state enemies, drug trafficking, or purchasing child pornography. She also proposed extending the Act’s regulations to include crypto exchanges and other entities dealing with stablecoins. However, her proposed amendments were rejected along party lines. Republican Majority Prioritizes Stablecoin Legislation Near the end of the hearing, Elizabeth expressed strong reservations about advancing the bill, highlighting its numerous deficiencies and the timing of its progression amid reports that Donald Trump was attempting to launch his own stablecoin with a company known for legal violations. She referred to news that Trump-associated World Liberty Financial had been negotiating with the crypto exchange Binance. Warren criticized the decision to push the bill through while Trump was allegedly making deals with what she termed a criminal stablecoin platform, cautioning that it was a mistake likely to be regretted. Hagerty said, “It presents common sense rules that protect consumers, promote competition, and foster innovation. It’s time we provide the clarity and stability that our country and its innovators so desperately need.” This year, the crypto industry is rallying bipartisan support in Congress for its policies. A notable bipartisan success involved overturning an IRS rule opposed by the sector. After the 2024 elections gave Republicans control of both chambers, stablecoin legislation has become a key priority under Scott’s leadership.