Tag: Votes

US House Kicks Off ‘Crypto Week’ With Votes on Landmark Digital Asset Bills

Key Notes The US House began ‘Crypto Week’ on July 14 to vote on three major digital asset bills. The bills cover market structure (CLARITY Act), stablecoins (GENIUS Act), and a ban on a US CBDC. The process begins with a House Rules Committee meeting before moving to a full floor vote this week. The US House of Representatives has officially started its “Crypto Week” today, July 14, setting the stage for floor votes on three major pieces of legislation that could define the future of digital asset regulation in…

US Senate Votes To Pass GENIUS Stablecoin Bill

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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to pass an amended version of the bill. In a Tuesday vote of 68-30, a majority of the US Senate chose to pass the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The bill’s companion, the STABLE Act, may be considered in the House of Representatives next, where it could face additional proposals for amendments. “With this bill,…

Cetus votes on stolen $162M, Sui Foundation offers emergency loan

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Sui-based decentralized exchange Cetus may be one step closer to recovering funds lost in a recent exploit, pending the outcome of a community governance vote scheduled to end June 3. Cetus was exploited for over $220 million worth of digital assets on May 22. Shortly after the incident, Cetus managed to freeze $162 million of the funds. In a May 27 post on X, Sui said Cetus had requested a community vote to approve the recovery of the frozen funds. “If the community vote is approved, the funds will be…

Gaming NFT maker Aavegotchi votes to ditch Polygon for Base

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Aavegotchi, a non-fungible token (NFT) protocol focused on Web3 gaming, has opted to abandon blockchain network Polygon and “go all-in” on Base, an Ethereum layer-2 scaling chain, according to the results of an onchain vote.  On April 8, Aavegotchi’s community members voted 93.5% in favor of a proposal to “Make Aavegotchi Based Again” by deprecating the protocol’s smart contracts on Polygon and re-deploying on Base, according to Aavegochti’s governance page.  “Given our close relationship with the Base team, as well as recent developments in the Base ecosystem […] we believe…

U.S. House Votes to Overturn IRS DeFi Broker Rule

A majority of lawmakers in the U.S. House of Representatives voted to overturn an IRS rule treating crypto entities as brokers and requiring them to collect certain taxpayer and transaction information, including decentralized finance (DeFi) platforms. With a 292-132 vote, a bipartisan majority in the House joined the U.S. Senate in advancing the Congressional Review Act resolution overturning the rule finalized in the closing days of former President Joe Biden’s administration. Missouri Republican Jason Smith, urging his fellow lawmakers to vote for the resolution earlier in the day, said the…

Binance Overhauls Crypto Listings and Delistings—Community Votes Will Decide Winners and Losers

Binance is handing power to its users with a new governance system, allowing them to vote on token listings and delistings, reshaping market dynamics and transparency. Binance Unveils Community-Driven Token Governance System Crypto exchange Binance has introduced a new community-driven governance system for token listings, allowing users to have a direct say in listing and […] Source BitcoincryptoexchangeExchanges CryptoX Portal

US Senate votes to overturn IRS DeFi broker rule

The U.S. Senate has voted 70-27 to overturn an Internal Revenue Service rule that would have imposed new reporting requirements on decentralized finance brokers.  As reported by Business Insider, the motion presented by Senator Ted Cruz, was approved under the Congressional Review Act on Mar. 4, indicating that both parties were against the Biden-era rule. Introduced in December, the IRS DeFi broker rule required DeFi platforms to report user data for tax compliance, thereby broadening the definition of “brokers” to include them. Since decentralized platforms do not hold funds or…

Microsoft Votes No on Bitcoin Reserves: Michael Saylor’s Pitch Fails to Convince

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Microsoft shareholders rejected a push to adopt bitcoin as a strategic reserve, dismissing claims it could add trillions in market value and mitigate shareholder risks. Microsoft Rejects Bitcoin Investment: What It Means for Shareholders Microsoft’s shareholders have voted against a proposal to include bitcoin in the company’s financial reserves, following guidance from the board of […] Original

Trump Declared 47th US President as AP Calls Election With 277 Electoral Votes

According to the Associated Press, Donald Trump has secured victory in the 2024 U.S. presidential election, garnering 277 electoral college votes compared to Kamala Harris’s 224. Trump’s Election Victory Confirmed by AP The Associated Press (AP) and multiple news outlets have declared Donald Trump the 47th president of the United States. Trump clinched victory with […] Source CryptoX Portal

Crypto Market Little Changed as U.S. Votes

Bitcoin is little changed, having recovered from a dip below $68,000. Aside from today’s U.S. presidential election, which has traders seeking clues for the next market move, BTC has also been threatened by activity by Mt. Gox. The defunct crypto exchange transferred over 32,000 BTC ($2.2 billion) to unmarked wallet addresses, often a sign of an impending transfer to exchanges, thereby applying selling pressure to BTC. Bitcoin traded at just under $68,800 late in the European morning, little changed in the last 24 hours. The broader digital asset market, as…