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According to CoinDesk, U.S. Representative Tom Emmer (R-Minn.) has predicted that the most significant opportunity for major cryptocurrency legislation this year lies in the closing stages of the congressional session. Despite recent support from Democrats in Congress for crypto measures, Emmer suggested that the U.S. Senate still has substantial work ahead.
Emmer acknowledged that despite the crypto industry's recent victories in Congress, significant legislation faces a considerable practical hurdle in the Senate. He stated that the Senate would want to have its say in a significant crypto bill, leaving little time in the dwindling congressional session. Emmer suggested that the House-approved Financial Innovation and Technology for the 21st Century Act (FIT21) is most likely to be passed during the 'lame-duck' session, a period when crucial legislation is often targeted with unrelated add-on bills that can become law through swift negotiations.
Emmer, who is a top leader in the House as the majority whip for the Republican caucus, noted that FIT21, which received substantial support in the House, is now awaiting consideration in the Senate. If senators engage in serious work on a similar bill, it would need another review in the House. 'They're going to want to change it, which means it comes back to the House,' Emmer said, highlighting the growing support from Democrats on this and other crypto matters.
FIT21, the first comprehensive digital assets legislation to win approval in one of the chambers of Congress, saw 71 Democrats join in the yes vote despite opposition from President Joe Biden, including former Speaker of the House Rep. Nancy Pelosi (D-Calif.). A separate effort to overturn a U.S. Securities and Exchange Commission accounting policy also drew significant support from Democrats when it passed the House and Senate, despite a veto threat from Biden.
Notice on New Trading Pairs & Trading Bots Services on Binance Spot - 2024-05-29
Fellow Binancians, To expand the list of trading choices offered on Binance Spot and enhance users’ trading experience, Binance will open trading for the BTC/MXN, XRP/MXN, ENS/USDC and LDO/USDC trading pairs at 2024-05-29 15:00 (UTC). In addition, Binance will enable Trading Bots services for the following trading pairs at 2024-05-29 15:00 (UTC): Spot Algo Orders: BTC/MXN, XRP/MXN, ENS/USDC, LDO/USDC. Start Trading on Binance Spot Now! Notes: MXN is a fiat currency and does not represent any other digital currencies.Users will enjoy discounted taker fees on all existing and new USDC spot and margin trading pairs until further notice. Trading of the aforementioned new trading pair(s) is subject to eligibility based on the user's country or region of residence. Please note that the list of restricted countries provided below may be changed from time to time, due to mandatory changes in applicable laws and regulations, or other changes relevant to the trading eligibility of these new trading pair(s). Users need to complete account verification to participate in the trading of these new trading pair(s). Please note that this list may be updated periodically to accommodate changes in legal, regulatory, or other factors. Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot trading pair(s): Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine. Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. Thank you for your support! Binance Team 2024-05-28