Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Republicans suffered their first setback in Congress on crypto legislation, Bitcoin-powered darknet marketplace Abacus Market has gone offline amid suspected law enforcement pressure, and Ripple plans to pursue a MiCA license.
Cryptocurrency-related bills backed by US President Donald Trump failed to clear a key procedural step in the House of Representatives on Tuesday, despite the president’s public push for action.
Trump had urged Republican lawmakers to “get the first vote done this afternoon” on legislation to regulate payment stablecoins as part of a larger effort to pass crypto legislation before the August recess.
In a Tuesday post on his social media platform Truth Social, Trump ordered all Republicans to vote yes on the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a bill designed to regulate payment stablecoins in the US.
The legislation is one of three bills, along with ones to address market structure and central bank digital currencies, that Republican House leaders had been pushing as part of the party’s “crypto week” plans.
Abacus Market, the largest Bitcoin-powered Western darknet marketplace, has gone offline in an apparent exit scam.
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