Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, the head of President Trump’s crypto council said stablecoin legislation will likely be passed imminently, Grayscale’s Bitcoin Mini Trust ETF (BTC) is the only fund to maintain a positive net inflow of funds in March, and Donald Trump’s SEC Chair pick Paul Atkins’ confirmation hearing is reportedly set for March 27.
Bo Hines: Expect stablecoin legislation “in next two months”
The executive director of the President’s Council of Advisers on Digital Assets, Bo Hines, told the Digital Asset Summit in New York that stablecoin legislation is “imminent” following the Senate Banking Committee’s swift approval of the GENIUS Act earlier this month.
The GENIUS Act stands for the Guiding and Establishing National Innovation for US Stablecoins, which sets out to guidelines for stablecoin issuers. On March 13, it passed the Senate Banking Committee in a bipartisan 18 to 6 vote.
“We saw that vote come out of the Senate Banking Committee in extremely bipartisan fashion,” Hines said. “I think our colleagues on the other side of the aisle also recognize the importance for US dominance in this space, and they’re willing to work with us here, and that’s what’s really exciting about this.”
When asked about when the final stablecoin legislation will arrive on President Trump’s desk, Hines gave the timeline of the “next two months.”
All but 1 US spot Bitcoin ETF in the red this March
Except for Grayscale’s Bitcoin Mini Trust ETF (BTC), all other United States spot Bitcoin exchange-traded funds (ETFs) had net negative performances in March as analysts expect a bearish Bitcoin trend of up to 12 months.
