Last week, it was anticipated that new crypto bills would be introduced, but their discussion was postponed. Now, they have been blocked due to votes from some Republicans.
Legislative Stalemate in Cryptocurrency
In the House of Representatives, 13 Republican members voted against bringing crypto bills to the floor. Just a few hours prior to the vote, Donald Trump praised the GENUS bill, declaring the start of the 'Joyful Crypto Week.' The rejection by Republicans right after Trump's endorsement appeared to be a clear defiance.
Impact on PENGU and XRP Coins
Crypto expert Eleanor Terrett commented on the matter, stating, 'The procedural vote on cryptocurrency bills failed because of the ‘no’ votes from some members of the Republican Freedom Caucus. Their concerns mainly arise from CBDCs and the bills not being presented as a package.'
Market Perspectives on Cryptocurrency
Currently, BTC has weakened following the opening of the US market, slightly shaking altcoins due to ongoing losses. XRP Coin, continuing to find buyers above $2.84, might test $3, and if it closes above this, it could exceed $3.4, reaching a new ATH. This demand surge is linked to Ripple's recent major announcements and the conclusion of a long-standing lawsuit. PENGU made a strategic move with its recent Coinbase listing, showing a 140% gain in six days. If it achieves closures above $0.02776, it could surpass the $0.0369 resistance and aim for $0.04672.
The delay in crypto bill legislation and Trump's reaction highlight the current complexities in US legislation. Meanwhile, key crypto assets like PENGU and XRP Coin remain in the spotlight for investors and experts.
