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Seeds of Wisdom
US LAWMAKER REINTRODUCES BILL AMID PUSHBACK ON TRUMP’S CRYPTO TIES
The US president’s intention to host a dinner for people who purchased millions of dollars worth of his memecoin has contributed to slowing or halting crypto bills in Congress.
A D--------c representative in the US Congress will support a blockchain bill at a time when many left-leaning lawmakers are blocking crypto-related pieces of legislation due to concerns with President Donald Trump’s potential conflicts of interest.
In a May 21 notice, Minnesota Representative Tom Emmer said he had reintroduced the Blockchain Regulatory Certainty Act, a bill that “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.” Emmer, a Republican, said D--------c Representative Ritchie Torres would co-lead the bill, making it a bipartisan effort in Congress.
“The Blockchain Regulatory Certainty Act reflects a thoughtful, bipartisan effort to get digital asset policy right,” said Torres. “While similar language was voted down in markup last Congress, we took that feedback seriously and returned with a smarter, sharper framework that protects innovation without compromising oversight.”
Representatives of advocacy organizations, including the Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DeFi Education Fund, and Blockchain Association, said they would support the proposed blockchain regulatory bill.
It was unclear whether Emmer and Torres had a majority of votes in the House of Representatives for the legislation to pass.
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Torres has supported many bills and policies favorable to the crypto industry since assuming office in 2021. Together with Emmer, he has led the Congressional Crypto Caucus to advance crypto-friendly policies in the House since March.
A Bipartisan Blockchain Bill Amid Memecoin Concerns?
Other D--------c House members, including Representative Maxine Waters, have suggested they intend to block any legislation related to crypto and blockchain until Republicans address Trump’s connections to the industry, such as his family’s stake in World Liberty Financial and his TRUMP memecoin.
The president is planning to host a dinner with up to 220 people holding the most significant amounts of his memecoin on May 22.
@ Newshounds News™
Source: Cointelegraph
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MICHIGAN LAWMAKERS PROPOSE FOUR NEW CRYPTO-RELATED BILLS
The new Michigan bills would permit Bitcoin pension investments, bar state CBDC support, and offer tax breaks for crypto mining at oil sites.
▪️ Michigan lawmakers introduced four crypto-related bills, including HB 4510, which would permit public retirement funds to invest in Bitcoin via regulated exchange-traded products.
▪️ HB 4511 seeks to block state support for U.S. central bank digital currencies, banning any licensing, taxation, or official advocacy of CBDCs by state agencies.
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▪️ Two companion bills, HB 4512 and HB 4513, promote Bitcoin mining at abandoned oil wells, offering tax breaks to companies that restore environmental sites in exchange for mining rights.
Four new crypto-related bills were introduced in the Michigan House late Wednesday, joining a growing trend of state-level efforts to define the role of digital assets in public policy.
Rep. Bill Schuette’s (R-MI) House Bill 4510 seeks to allow Michigan’s state treasurer to invest retirement funds in crypto, provided they averaged a market cap of at least $250 billion over the previous year and are held through exchange-traded products.
That threshold effectively narrows eligibility to Bitcoin, which soared past $111,000 on Wednesday and set a new all-time high amid renewed institutional interest.
Assets must be held through exchange-traded products issued by registered investment firms, ensuring regulatory oversight, according to HB 4510.
The next measure, House Bill 4511, introduced by Rep. Bryan Posthumus (R-MI), takes aim at the federal government’s push for central bank digital currencies.
The bill proposes a state-level ban on any licensing, taxation, or restriction of digital asset holdings, and outright prohibits state agencies from advocating for a U.S. CBDC.
“An agency or department of this state shall not advocate for or support… the testing, adoption, or implementation of a [CBDC],” the bill reads.
Meanwhile, Rep. Mike McFall (D-MI) introduced two companion bills, HB 4512 and HB 4513, focused on Bitcoin mining and tax reform.
One establishes a “Bitcoin Program,” allowing private firms to plug abandoned oil or gas wells in exchange for temporary rights to mine Bitcoin using residual fuel sources.
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The other offers income and corporate tax deductions for revenue earned through such mining efforts, linking crypto directly to environmental remediation.
If passed, the program would be administered by the state’s Supervisor of Wells, who would maintain a public registry of eligible well sites, solicit annual bids, and ensure that participating miners carry financial responsibility for site restoration.
Michigan’s legislative push comes as several U.S. states race to either welcome or restrict crypto adoption.
Just hours earlier, the Texas House passed a bill to create a state-managed Bitcoin reserve, sending it to Governor Greg Abbott’s desk.
The bill would allow the state comptroller to invest in any digital asset with a market cap above $500 billion, currently only Bitcoin.
New Hampshire Governor Kelly Ayotte signed a similar bill into law earlier this month, making her state the first in the country to formally authorize crypto and precious metal investments for public funds.
@ Newshounds News™
Source: Decrypt
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Source: Dinar Recaps
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BRICS: STANDARD CHARTERED, DEUTSCHE BANK PREDICT US DOLLAR’S FUTURE
Amid the ongoing BRICS de-dollarization agenda, global leading banks Standard Chartered and Deutsche Bank have provided the latest insights on the US dollar’s future prospects.
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The two banks remain bearish on the greenback due to various macroeconomic factors. These trillion-dollar institutions are now questioning the profitability of US-backed financial assets on a global scale.
The US-backed assets, especially the dollar, which was once the bedrock of all global finances, is slowly drifting away after BRICS kick-started the de-dollarization initiative, and Standard Chartered and Deutsche Bank are taking notice of the drastic changes that have occurred in the markets since three years ago.
BRICS: The US Dollar’s Future Is in Danger, Say Standard Chartered & Deutsche Bank
Standard Chartered and Deutsche Bank wrote in their latest report that the US dollar is in danger, not just from BRICS, but from everyone.
“The dollar weakness story is not over,” wrote Standard Chartered Global FX head Steve Englander. The strategist explained that the new trade policies have caused a long-term strain, eroding confidence in the White House.
Following Standard Chartered’s warning, Deutsche Bank wrote that the US dollar would face trouble not only from BRICS but from within.
Deutsche Bank analysts warned that Trump’s tax-cut bill would add $3 trillion to $5 trillion to the nation’s fiscal debt. This projection estimates that the extended debt could be added over the years.
As of May 2025, America’s debt stands at $36.2 trillion and is spiraling out of control.
“The combination of diminished appetite to buy US assets (from BRICS and others) and the rigidity of a fiscal process that locks in very high deficits is what is making the market very nervous (on the dollar),” wrote George Saravelos, Global Head of FX Research at Deutsche Bank.
Therefore, both Standard Chartered and Deutsche Bank are bearish on the prospects of the US dollar, as global demand weakens and fiscal instability intensifies.
@ Newshounds News™
Source: Watcher Guru
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US LAWMAKER INTRODUCES ANTI-C--------N BILL AHEAD OF TRUMP’S DINNER
Donald Trump is preparing to host up to 220 people at his golf club, with access tied to his memecoin purchases.
California Representative Maxine Waters, ranking member of the US House Financial Services Committee, has announced plans to introduce legislation “to block [Donald] Trump’s memecoin and stop his crypto c--------n.”
In a May 22 notice, Waters said the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 bill would be aimed at blocking the US president, vice president, members of Congress, and their families from engaging in “crypto crime.”
The US lawmaker referred to Trump and his wife, Melania, issuing personal memecoins in January, his family launching a stablecoin, USD1, through the crypto platform World Liberty Financial, and the president attempting to establish a national Bitcoin reserve as his sons back a BTC mining venture.
“Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer,” said Waters, adding:
“Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”
Waters’ bill was one of many actions announced to oppose the president’s dinner to reward memecoin holders. Senators Chris Murphy and Elizabeth Warren are expected to attend a press event with representatives for the consumer advocacy group Public Citizen, and two D--------c organizations are set to protest at the Trump National Golf Club outside Washington, DC, where the memecoin dinner will be held.
Majority of participants have stayed anonymous ahead of dinner
The number and names of attendees to the May 22 dinner were still largely unknown, but several revealed their intentions through social media and news outlets to apply for background checks and meet the president.
Bloomberg reported that more than half of the participants eligible for the dinner and “VIP Tour” — a separate experience limited to the top 25 memecoin holders — were likely foreign nationals.
Among those claiming to attend included:
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- Tron founder Justin Sun
- Hyperithm co-CEO Oh Sangrok
- Kronos Research CIO Vincent Liu
- Synthetix founder Kain Warwick
Sun posted to X on May 21, showing himself appearing to gain access to the Eisenhower Executive Office Building in Washington, DC, part of the White House compound.
Addressing members of the press on May 22, White House Press Secretary Karoline Leavitt said Trump was attending the dinner “in his personal time.”
She denied that the event would take place at the White House, despite the memecoin project’s website previously stating the top 25 holders would be eligible for a tour of the government building.
Since the launch of the TRUMP memecoin on Jan. 17, many lawmakers and industry figures — including some generally supportive of Trump’s policies — have criticized the project.
In a May 20 article, the Wall Street Journal Editorial Board called on the White House to disclose the names of those attending the dinner, adding that Trump would “help himself by calling off his Thursday gala.”
Two organizations behind the TRUMP token are tied directly to the president and control roughly 80% of the total supply, opening up the potential for a rug pull in the future. In the previous 24 hours, the price of the memecoin has risen more than 11%, to $15.76 from $14.13.
@ Newshounds News™
Source: Cointelegraph
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Source: Dinar Recaps
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