The past week has seen a number of records set already, including Bitcoin’s new ATH at 123K.
Now, it can add a nine-hour standoff in the US House of Representatives to that list.
US political drama briefly overshadowed market performance on Wednesday. Key lawmakers delayed progress on three significant crypto bills due to procedural issues. The GENIUS Act, Clarity Act, and a related CBDC ban all have the potential to reshape the US crypto regulatory landscape.
And behind the scenes, a fierce debate erupted over the future of Federal Reserve chairman Jerome Powell – a debate Trump himself started.
Time for a closer look.
Record-Setting Procedure in House Ensures Anti-CBDC Provision
The Anti-CBDC Surveillance State Act was at the heart of a 9-hour deadlock, the longest in recent history. Hard‑line Republicans demanded an explicit ban on central bank digital currencies (CBDCs) before moving the bill package to the debate stage.
To appease them, GOP leaders agreed to include a CBDC ban in the must-pass National Defense Authorization Act (NDAA). House Republicans held a 217–212 vote after more than nine hours of deadlock, paving the way for debate on the bills in the coming days.
The case against a US CBDC depends on how much clarity and control it would give the US government. With a ban in place, the stage is set for other laws to establish a more positive framework.
Key Bills at Stake: GENIUS Act, Clarity Act
The GENIUS Act, which outlines a stablecoin framework, passed the Senate in June with a 68–30 vote. It requires stablecoin issuers to maintain transparent and secure reserve structures.
The CLARITY Act, which pertains to the crypto market structure, clarifies whether digital assets are commodities (regulated by CFTC) or securities (under SEC), to resolve long‑standing regulatory uncertainties.
The Anti‑CBDC Surveillance State Act, now attached to the NDAA, restricts the Federal Reserve from implementing a government‑controlled digital currency. Core issues at stake include privacy and surveillance concerns.
Intermission: Fire Powell?
So far, most of the internal disputes over crypto bill procedures have been eclipsed by another debate: will President Trump dismiss Fed Chair Jerome Powell, the man he appointed in 2017?
Behind closed doors, Trump showed a draft termination letter for Powell during a private meeting with about a dozen House Republicans, polling them on whether he should move forward. The lawmakers supposedly supported the move.
Trump’s ire at Powell stems primarily from the Fed’s decision not to lower interest rates, at least not yet.
Trump advocates for lower rates to ease pressure on consumers and support his spending initiatives. He has also directly and indirectly criticized Powell over the ongoing $2.5B Fed renovation; many of his attacks have been channeled through close ally William J. Pulte, the director of the Federal Housing Finance Agency.
But as is often the case, Trump later described firing Powell as ‘highly unlikely,’ denied drafting any letter, and said there was no current plan to remove the Fed chair.
The combination of the ongoing debates and Trump’s potential firing of Powell sets up a number of possible outcomes for the broader crypto market:
- Federal Reserve independence: Trump’s suggestion to fire Powell runs up against legal norms, and his retraction highlights the fragility of central bank autonomy.
- Crypto sector legitimacy: Passage of the three bills could usher in regulated stablecoins, define digital-asset classifications, and bar a Fed-issued CBDC, all of which would potentially transform crypto regulations in America..
Clearer regulation should further boost institutional investment—already increasing through ETFs and crypto treasuries—and promote broader crypto adoption, including tokenized assets.
That’s fertile soil for the best crypto presales to thrive. Here are three worth watching.
Bitcoin Hyper ($HYPER) – SVM-Powered Bitcoin Layer 2 Unlocks DeFi for $BTC
Bitcoin Hyper ($HYPER): take Bitcoin’s market cap, add DeFi, staking, and ZK infrastructure.
The result is the fastest Layer 2 for Bitcoin, ready to propel Bitcoin’s next phase of growth. Users can deposit $BTC into the canonical bridge, which uses an SVM smart contract called the Bitcoin Relay Program to transfer $BTC to the Bitcoin Hyper Layer 2.
While technically complex, the process is proven, efficient, and enables near-instant finality.
A fast-acting Layer 2 opens the door for all the crypto applications that have emerged over the decades since Bitcoin first appeared: DeFi, staking, and more. Before the project fully deploys the Layer 2, investors can stake $HYPER for an estimated 286% APY.
Interest in the project has pushed the presale to new heights, with $3.1M raised so far. Tokens currently cost $0.0123.
Visit the Bitcoin Hyper ($HYPER) presale page to learn more.
Best Wallet Token ($BEST) – Leading Utility Token with 98% APY for Self-Custody Wallet
The growth of the crypto economy demands the best crypto wallet possible. That means Best Wallet Token ($BEST) and the Best Wallet app, a leading Web3 non-custodial wallet.
Benefits include lower trading fees and higher staking rewards for $BEST holders. The wallet features an upcoming tokens section that provides advanced research and easy purchasing options for a curated list of top crypto presales, enabling investors to get in early on prime opportunities.
And $BEST is just the beginning. Along with the token and the wallet itself, a Best Card is in the works to make spending your crypto easier than ever.
All of it is facilitated by the $BEST token, currently available for $0.025345. The presale has raised nearly $14M so far.
Visit the Best Wallet Token presale today.
SpacePay ($SPY) – Tomorrow’s Investments, Today with Next-Gen Payments Solution
SpacePay, a London‑based fintech company, aims to bring seamless crypto payments to everyday businesses. The $SPY token powers its innovative solution, allowing merchants, like cafes and retail stores, to accept crypto through existing Android card terminals.
Behind the scenes, transactions instantly convert to local fiat at the point of sale. This adds an extra layer of security, protecting merchants from volatility and making sure they receive full value for every purchase.
The $SPY token, currently priced at $0.003181 during presale, runs the show. A total supply of 34B $SPY allocates 20% to the public presale. Tokens are also reserved for loyalty rewards, partnerships, development, marketing, and team incentives.
The $SPY presale has raised $1.19M so far.
What Happens Next with Trump, Crypto Legislation
It’s still an open question whether Trump can legally fire a Fed chair ‘for cause,’ even if he decides to go through with his threat. It’s possible that Trump is just using the threat as leverage to get lower interest rates.
With a 9-hour stalemate safely in the record books, the crypto legislation could be on Trump’s desk as early as today or tomorrow. These crypto presales could benefit.
As always, do your own research; this isn’t financial advice.
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
Source: https://bravenewcoin.com/sponsored/presale/best-crypto-to-buy-as-house-gop-pushes-crypto-bills