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With Trump’s backing, GOP pushes for sweeping crypto regulations

  • The GOP, with President Donald Trump's backing and his son Eric Trump's crypto involvement, is advancing sweeping cryptocurrency regulations in 2025.
  • This effort follows Biden's administration restrictions on crypto banks and enforcement under Gary Gensler, while Trump's SEC chair favors a pro-crypto stance, creating splits in regulatory approaches.
  • Congress is considering two key bills: a stablecoin bill tied to the dollar and a broader digital asset market framework, which faces Democratic opposition partly due to Trump's controversial crypto holdings.
  • Industry experts at the Consensus conference praised recent progress, with lawyer Lewis Cohen calling it "a very encouraging three months" and Annemarie Tierney noting a chance to reset ties between crypto and Washington.
  • These developments suggest that rapid regulatory clarity is expected before a possible House power shift, as bipartisan support grows despite concerns over conflicts of interest and market risks.
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Crypto industry praises Trump, calls for market clarity

The start of President Donald Trump's term earned rave reviews at the world's leading crypto conference Wednesday, but top industry lawyers said digital platforms wanted regulatory clarity while the Republicans control Congress.

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  • 57% of the sources are Center
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Bloomberg broke the news in United States on Tuesday, May 13, 2025.
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