tldr; Former President Donald Trump has brokered a deal to end a Republican revolt over three crypto-related bills, including the GENIUS Act, which regulates stablecoins. Trump convinced 11 of 12 dissenting Republican lawmakers to support the bills after they initially opposed them due to the absence of a ban on central bank digital currencies (CBDCs). The bills are part of a Republican-led initiative, dubbed ‚Crypto Week,‘ to pass crypto legislation before Congress’s August recess. A re-vote is expected, with further discussions on amendments and bundling the bills into one package.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
MichaelAischmann on
A deal requires a quid pro quo. What is it?
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tldr; Former President Donald Trump has brokered a deal to end a Republican revolt over three crypto-related bills, including the GENIUS Act, which regulates stablecoins. Trump convinced 11 of 12 dissenting Republican lawmakers to support the bills after they initially opposed them due to the absence of a ban on central bank digital currencies (CBDCs). The bills are part of a Republican-led initiative, dubbed ‚Crypto Week,‘ to pass crypto legislation before Congress’s August recess. A re-vote is expected, with further discussions on amendments and bundling the bills into one package.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
A deal requires a quid pro quo. What is it?