News

 the Senate Agriculture Committee has released an updated legislative draft on the structure of the crypto market, granting the Commodity Futures Trading Commission (CFTC) new authority to regulate digital commodities. The committee is scheduled to hold a business meeting for a markup hearing at 3 PM on January 27.

BlockBeats News, January 22nd. Today, Trump stated that he hopes the Fed chair nominee will be similar to Alan Greenspan, who served as chairman for a long time in the 1990s. He does not believe that strong economic growth will necessarily lead to inflation or the need for rate hikes, and he disagrees with the market's reaction being excessive. During Greenspan's tenure, he cut interest rates in the early period, raised them later on, and allowed high-risk assets to rise. His policies fueled the expansion of the tech stock bubble, which led to economic prosperity but also laid the groundwork for the 2000 dot-com bubble burst. The later low-interest-rate environment indirectly contributed to the 2008 housing crisis.

Foresight News reported, according to Bloomberg, that sources revealed the review of the "CLARITY Act" may be further delayed until late February or March, as key members of the U.S. Senate Banking Committee have shifted their focus to potential housing legislation supporting President Trump's housing affordability initiative.Foresight News previously reported, citing CoinDesk, that U.S. Senate Democrats have resumed negotiations with representatives from the crypto industry to discuss the next steps for the "CLARITY Act." The first vote by the Senate Banking Committee, originally scheduled for January 15, was postponed, but the Agriculture Committee's vote is still planned for January 27. A certain exchange has stated it cannot support the current draft of the bill, considering it "unworkable." The bill needs to be approved separately by both the Banking Committee and the Agriculture Committee before being merged and submitted to the full Senate for a vote.