This Week's Key News Preview | U.S. House of Representatives Reviews Three Cryptocurrency Bills

Organizer: Jerry, ChainCatcher

Key News:

• U.S. House of Representatives designates the week of July 14 as "Crypto Week," advancing the GENIUS stablecoin bill and two other legislations
• Tornado Cash co-founder to appear in New York court on July 14, facing money laundering and conspiracy charges
• Binance Alpha to launch Chainbase (C) on July 14 and open airdrop claims
• The U.S. will release June CPI data on July 15 at 20:30

July 14 (Monday)

U.S. House of Representatives designates the week of July 14 as "Crypto Week," advancing the GENIUS stablecoin bill and two other legislations

According to DLNews, the House plans to kick off "Crypto Week" on July 14, reviewing three significant pieces of legislation including the "GENIUS Act," the "Payment Stablecoin Transparency Act," and the "Anti-CBDC Surveillance State Act."

The "GENIUS Act" will set federal standards for dollar-backed stablecoins, with issuers exceeding the $10 billion threshold facing oversight from the Federal Reserve and the Office of the Comptroller of the Currency. The "Payment Stablecoin Transparency Act" will establish a federal regulatory framework for stablecoins, while the "Anti-CBDC Surveillance State Act" aims to permanently prohibit the Federal Reserve from issuing retail central bank digital currency.

Cryptocurrency lawyer John Deaton stated that once the bill is signed into law, the likelihood of the government changing policies in the future will significantly decrease. The market is closely watching the outcome of this vote, which is seen as a critical moment in determining the direction of U.S. crypto regulation.

Tornado Cash co-founder to appear in New York court on July 14, facing money laundering and conspiracy charges

According to Cointelegraph, Roman Storm, co-founder and developer of the Tornado Cash cryptocurrency mixing service, is set to appear in a New York court on July 14, facing money laundering and conspiracy charges.

With less than two weeks until the U.S. criminal trial, Storm stated in a video interview that his legal team intends to address the allegations of profiting from illegal funds through his role in Tornado Cash during the trial. However, he declined to disclose whether he would testify in his defense, stating, "I don't have a 100% answer right now. I might or might not (testify)" regarding the charges of money laundering, conspiracy to operate an unlicensed money transmission business, and conspiracy to violate U.S. sanctions.

Storm was indicted by U.S. authorities in 2023, about a year after the Treasury Department's Office of Foreign Assets Control sanctioned addresses associated with Tornado Cash. Government agencies stated that the mixing service facilitated the laundering of cryptocurrency stolen by North Korean hackers.

Plasma: XPL public sale to start on July 17, deposits and withdrawals will be locked on July 14

The stablecoin project Plasma announced on social media that the public sale of XPL will officially begin on July 17, with deposits and withdrawals locked on July 14 (72 hours before the sale). This is the last opportunity for users to withdraw, and insurance inventory deposits cannot be used for this sale. All deposits will remain locked for at least 40 days after the sale ends.

Binance Alpha to launch Chainbase (C) on July 14 and open airdrop claims

Binance Alpha announced that it will launch the Chainbase (C) project on July 14. Eligible users can claim airdrops using Binance Alpha points on the Alpha event page once trading opens. The official stated that more details will be announced soon, and users can follow Binance channels for the latest information.

July 15 (Tuesday)

The U.S. will release June CPI data on July 15 at 20:30
On July 15 at 20:30 Beijing time, the U.S. will release the June CPI data.

July 17 (Thursday)

WLFI token transfer proposal currently has a support rate of 99.93%, voting will end on July 17

According to information from the official page, the WLFI token transfer proposal has opened community voting, with a current support rate of 99.93%. Voting will end on July 17.

The proposal aims to seek community opinion and formally initiate token transferability. If approved, the team will initiate the distribution of tokens to eligible early supporters and launch community governance through a second vote to decide the unlocking of the remaining tokens.