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05.05.2025 03:04 PM
Stablecoin bill in jeopardy

Bitcoin and Ethereum have declined, and the broader cryptocurrency market reacted negatively to news that the bipartisan GENIUS Act—Guiding and Enabling National Innovations for Unleashing Stablecoins—was expected to reach the Senate soon. However, the bill's future is now in doubt after nine Democratic senators opposed it in its current form.

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In a statement released by the group, they said the current draft contains numerous issues that must be addressed. These include:

  • Stronger anti-money laundering provisions
  • Regulations for foreign issuers
  • National security concerns
  • Safeguarding the reliability and stability of the U.S. financial system
  • Ensuring accountability for those who fail to comply with the law

Republican Senator Bill Hagerty, one of the bill's co-authors, stressed the urgency of enacting stablecoin legislation. "We have a choice," Hagerty wrote. "Move forward and make any remaining necessary adjustments on a bipartisan basis—or show that digital asset and cryptocurrency legislation remains a solely Republican issue."

A key concern is whether stablecoin issuers hold enough liquid assets to maintain the stability of their tokens. Democrats are also concerned about potential competition between stablecoins and central bank digital currencies (CBDCs), which are currently being developed by the Federal Reserve.

The bill would require stablecoins to be 100% backed by US dollars and short-term Treasury securities (or other similarly liquid assets), with monthly public disclosure of reserves and annual audits for issuers with a market cap over $50 billion. It also introduces strict marketing standards, insolvency procedure guidelines, and other regulatory measures.

Despite the Democratic pushback, the wide support for this legislation suggests that the current obstacle is likely just a temporary setback.

Trading recommendations

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Bitcoin (BTC) Buyers are currently targeting a return to the $94,700 level, which would open a path to $95,600, and from there, a move toward $97,100. The ultimate target is the $98,400 area; breaking above it could signal the end of the bear market. In case of a decline, buyers are expected around $93,300. A fall below that zone could quickly push BTC toward $92,300, with the next support at $91,300.

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Ethereum (ETH): A firm hold above $1,828 paves the way to $1,853, with an extended target at $1,880—a level that could mark the end of bearish pressure. If ETH drops, buying interest is expected around $1,799. Falling below this could drag ETH down to $1,772, with the final downside target near $1,750.

Chart notes:

  • Red levels represent key support/resistance zones likely to trigger either a pause or a sharp price move.
  • Green line = 50-day moving average
  • Blue line = 100-day moving average
  • Light green line = 200-day moving average

A price interaction with these moving averages often results in either a market slowdown or a fresh price impulse.

Jakub Novak,
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جون 3 کو کرپٹو کرنسی مارکیٹ کے لیے تجارتی سفارشات

ایشیائی تجارت کے دوران بٹ کوائن اور ایتھر میں زبردست اضافہ ہوا، حالانکہ کل کا اختتام قدرے مایوس کن نوٹ پر ہوا۔ تاہم، ان اثاثوں کی تیزی سے مضبوطی

Miroslaw Bawulski 13:59 2025-06-03 UTC+2

کرپٹو سرمایہ کار اب بھی امید پرستی سے مغلوب ہیں

جاری تصحیح کے باوجود، کرپٹو اثاثوں کو خریدنے کی طرف سرمایہ کاروں کا جذبہ مثبت رہتا ہے، جیسا کہ نام نہاد خوف اور لالچ انڈیکس سے ظاہر ہوتا ہے،

Jurij Tolin 16:38 2025-05-30 UTC+2

مئی 29 (شمالی امریکی سیشن) کے لیے کرپٹو مارکیٹ پر تجارتی تجاویز

بٹ کوائن نے کافی مضبوط واپسی کی ہے، $108,000 کے نشان سے اوپر چڑھ کر $109,000 کو توڑ دیا۔ نیچے دیا گیا چارٹ $108,100 کی سطح کے ذریعے

Miroslaw Bawulski 20:05 2025-05-29 UTC+2

بٹ کوائن نے $109,000 تک بہتری کی ہے

بٹ کوائن آج تیزی سے $109,000 کی سطح پر پہنچ گیا۔ یہ تیز رفتار اضافہ، خاص طور پر کل کے 106,600 ڈالر تک گرنے کے بعد،

Jakub Novak 19:29 2025-05-29 UTC+2

بٹ کوائن اور ایتھریم تیزی کی رفتار کو برقرار رکھتے ہیں۔

ایک مختصر وقفے کے باوجود، بٹ کوائن اور ایتھریم اپنی اوپر کی حرکت کے ساتھ ختم ہوتے دکھائی نہیں دیتے۔ جبکہ آج کے ایشیائی تجارتی سیشن کے دوران بٹ کوائن

Jakub Novak 17:03 2025-05-27 UTC+2

یہ کہ 27 مئی کو کرپٹو کرنسی مارکیٹ کے لیے تجارتی تجاویز

بٹ کوائن اور ایتھر کی مانگ اس ہفتے کے اوائل میں جاری ہے۔ بٹ کوائن $109,000 کے نشان سے اوپر رہتا ہے، جبکہ ایتھریم $2,600 سے اوپر کو مستحکم کرنے

Miroslaw Bawulski 16:22 2025-05-27 UTC+2
ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
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