Today, in cryptocurrency, the U.S. Senate passed the Genius Stable Coin Act, which marks a critical step in legislation moving to the House of Representatives. Meanwhile, Thailand suspended taxes on cryptocurrency revenues over the next five years, while Bitcoin returned to earnings after tensions in the Middle East increased.
U.S. Senate passes 68-30 vote to pass Genius Stablecoin bill
Guiding and establishing national innovations against the U.S. Stability Act or Genius Act A step closer to becoming a law In the United States, the U.S. Senate voted to pass an amended version of the bill.
In the U.S. Senate majority 68-30 vote choose The Genius Act was passed about six weeks after Tennessee Senator Bill Hagerty introduced legislation. The companion of the bill, the Stability Bill, could be considered next in the House, where it may face recommendations for other amendments.
“With this bill, the U.S. said on the Senate floor before the vote on Tuesday: “The U.S. is closer to becoming a global leader in cryptocurrencies,” he added: “Once the Genius Act is law, businesses of all sizes, Americans across the country will be able to settle almost immediately, rather than waiting for days or sometimes days or weeks. ”
Genius Law Initially failed the ticket In May, the Senate opposes democratic opposition to U.S. President Donald Trump’s connection to the cryptocurrency industry. The Trump family has a large stake in the world’s free finances. Release your own USD1 Stablecoin In March.
It is unclear whether stable legislation has enough support to pass the House, and Republicans also have a majority of Democrats. Trump’s AI and Crypto Czar, David Sacks, Recommended in May The president will support bills passed by the Republican-controlled Congress.
Thailand approves five-year crypto tax exemption
There is in Thailand Approved income tax exemption According to the Treasury announcement, from cryptocurrencies sold for five years, such as Bitcoin.
Thailand will exempt the capital tax tax on cryptocurrency sales from licensed crypto asset asset service providers from 1 January 2025 to 31 December 2029, Deputy Finance Minister Julapun Amornvivat said in a statement release Tuesday.
According to the minister, the measure aims to strengthen Thailand’s position as a global financial center and is one of the first countries to adopt digital asset laws and their tax laws.
The tax measure is also aimed at promoting cryptocurrency trading in Thailand under supervision by the Securities and Exchange Commission (SEC). Anti-money laundering (AML) Policy recommended by the Financial Action Working Group (FATF).
In the statement, the minister highlighted the role of crypto assets in fundraising activities, an important use case for Thai technology and innovation.
According to the ministry’s estimates, crypto assets are expected to help Thailand’s economy expand and increase medium-term tax revenues “not less than 1 billion baht”, or $300.7 million.
Bitcoin tilts in the report, Trump has called advisers to the situation room
Bitcoin and cryptocurrency markets fall after U.S. President Donald Trump A summit for leaving world leaders And ominous information about Tehran was released.
Trump demands preparation of the National Security Council in the White House Situation Room when he returns from Canada’s G7 summit on Monday, Fox News Report.
The report came hours after Trump bring In his social media platform, real social, comes with a shocking message: “Everyone should evacuate Tehran immediately!”
Bitcoin price fell by more than $2,000 in the past few hours, down 2% immediately.
Bitcoin had earlier strengthened to an intraday high of $108,780, but the latest news returned it to a smaller recovery before sending it back to $106,421.
