US President Donald Trump has raised the issue of crypto legislation again, securing agreement from some congressmen to resume discussions on important bills regarding digital assets.
Trump Saves Crypto Bills
Trump announced a meeting with Republican congressmen who had previously opposed the discussion of crypto-related bills. Following a 'short discussion,' lawmakers agreed to support the bills. Trump thanked Congress for their quick response.
Failed Vote in Congress
A recent vote in Congress, where 13 Republicans voted against discussing the bills, sparked panic in the markets, and Bitcoin price fell below $117,000. Conservatives protested against the structure of the stablecoin legislation.
Market Recovery for Cryptocurrencies
After Trump's intervention, the cryptocurrency market began to recover, with Bitcoin trading at an average price of $118,727. Ethereum also saw a 6% increase. A re-vote on three key bills regarding stablecoin regulation and other important market aspects is expected in Congress.
Trump's initiatives to revive discussions on crypto legislation highlight his ambition to become a 'crypto president' and may lead to significant changes in the regulation of digital assets in the US.
