The US House may prevent the Federal Reserve from issuing a central bank digital currency by combining a CBDC ban with a market structure bill. House Republicans previously slowed stablecoin regulation to include a CBDC ban, but all bills eventually passed with bipartisan support. The Senate’s version of the bill is distinct legislation called the Responsible Financial Innovation Act.

Senate Democrats are offering their own framework for market structure, calling for regulatory clarity in the digital asset industry. Republicans and Democrats aim to update regulatory requirements, but Democrats want provisions addressing Trump’s involvement in the industry. It’s unclear if the bill will address Trump’s ties to his family’s crypto ventures, but it is expected to head for a committee vote soon.

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1. Bitcoin reaches new all-time high, surpassing $60,000 for the first time ever. The cryptocurrency saw a 7% increase in value in just 24 hours, with a market cap of over $1.1 trillion.

2. Ethereum also hits a record high, breaking $2,000 for the first time. The second-largest cryptocurrency has seen a 180% increase in value so far this year, with a market cap of over $230 billion.

3. Tesla announces that customers can now purchase vehicles using Bitcoin. The electric car company revealed that they will be keeping the Bitcoin payments as cryptocurrency, rather than converting them to fiat currency.

4. Visa partners with Crypto.com to offer a cryptocurrency rewards card. The collaboration will allow users to earn up to 8% back in Bitcoin on their purchases, as well as receive other benefits like no annual fees.

5. Miami Mayor plans to invest city funds in Bitcoin, following the lead of other municipalities. The mayor revealed that they are looking into the possibility of putting a percentage of the city’s treasury reserves into the cryptocurrency.: US House To Consider Retroactive CBDC Ban In Market Structure