US President Donald Trump has said he reached a deal with most Republican lawmakers who earlier blocked a vote on three major crypto bills. According to Cointelegraph, the lawmakers had objected to the bills over the absence of a clear ban on central bank digital currencies (CBDCs).
Trump said on his social media platform that he met with 11 out of the 12 dissenting representatives and convinced them to vote in favour of the bills. The move comes after a planned vote was derailed when 13 Republicans, along with Democrats, opposed the procedure to advance the legislation. They wanted the bills to include stricter provisions against CBDCs and to allow amendments.
The blocked bills include the GENIUS Act, which regulates stablecoins; the Anti-CBDC Surveillance State Act, aimed at banning CBDCs; and the CLARITY Act, focused on broader crypto market regulation. As per Cointelegraph, some lawmakers wanted the GENIUS Act to clearly ban CBDCs or be merged with the other bills into one package.
The House is expected to meet again for another attempt to push the bills forward. Speaker Mike Johnson confirmed Trump’s involvement and said it played a key role in moving the process ahead.
Cointelegraph noted that earlier objections also centered on the number of bills and the limited amendment process. Trump had already issued an executive order in January calling for a ban on a Federal Reserve-issued CBDC.
Core Chain Presents Revenue-Sharing Model for Stablecoin Issuers
Core Chain, a blockchain network, has presented a new model where stablecoin issuers can take home a revenue share of the network. According to Cointelegraph, the system is meant to gain more stablecoin projects as it provides them with financial rewards for using the Core Chain.
In this model, issuers of stablecoins will be rewarded based on a share of the fees collected on the network. These fees primarily consist of transaction processing and other in-chain operations. In accordance with Cointelegraph, the thought is that issuers will be rewarded for contributing to network activity and usage.
Stablecoins are cryptocurrencies that maintain a stable value, commonly tied to the US dollar. They are highly used in payments, savings, and crypto trading. By providing a percentage of revenue, Core Chain seeks to emerge as a favored platform for these issuers.
The model is integrated into the design of the network, and therefore, revenue sharing occurs automatically according to the usage of a stablecoin. The more activity a stablecoin brings to the network, the bigger share it gets. This design incentivises stablecoin issuers to market their tokens and bring other users to the platform.
Kraken Starts US Crypto Derivatives Platform After NinjaTrader
Deal Crypto exchange Kraken has launched crypto derivatives trading for users in the US by teaming up with the trading platform NinjaTrader. This move helps Kraken enter the US derivatives market in a legal and regulated way.
Now, qualified users in the US can buy and sell Bitcoin and Ether futures via NinjaTrader's platform. These are regulated products, handled by a registered clearing organisation, which provides an additional layer of security and compliance.
Kraken had acquired the futures-oriented platform in 2022. It has now integrated it completely with its other services. What this implies is that US users are now able to access traditional crypto trading as well as more sophisticated futures trading, all under the umbrella of Kraken.
Crypto derivatives, such as futures, enable speculating on the future value of digital assets without having to own them. It is a more advanced form of trading with other rules than the usual spot trading.
The release comes as laws surrounding crypto derivatives in the US are still under consideration. By leveraging a registered counterpart such as NinjaTrader, Kraken is attempting to stay on the right side of the law while providing more options for serious traders.
The release provides advanced US traders with additional avenues for trading crypto in a regulated environment.
