7 hours ago
A pro-crypto Congressman says central bank digital currencies (CBDCs) are a tool to upend the American way of life as he pushes for legislation to prevent their existence. In a new press release, Republican Congressman Tom Emmer of Minnesota says he’s introducing a bill that would codify President Donald Trump’s executive order to ban CBDCs into law as he believes they stand against American principles. “The bill is simple: It halts the efforts of unelected bureaucrats from ever issuing a central bank digital currency that could upend the American way of life. This bill has the support of over 100 Members of Congress and groups ranging from the Independent Community Bankers Association and the American Bankers Association to Club for Growth, Heritage Action, and the Blockchain Association. CBDC technology is inherently un-American and I’m grateful to President Trump for understanding this and signing an executive order banning CBDCs as one of his first actions as President. My bill would codify the executive order into law and prevent a future administration from creating such an obvious tool for financial surveillance against its own citizens.” CBDCs are government-backed digital assets issued by a nation’s central bank that represent its fiat currency. Emmer first introduced a similar bill in 2022 that aimed to stifle the government from issuing CBDCs, at the time saying they would hurt the dominance of the US dollar and allow the state to keep tabs on citizens’ financial transactions. “[A]s other countries like China develop CBDCs that fundamentally omit the benefits and protections of cash. It is more important than ever to ensure the United States’ digital currency policy protects financial privacy, maintains the dollar’s dominance and cultivates innovation. CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collect personally identifiable information on users and track their transactions indefinitely.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post CBDCs ‘Obvious Tool for Financial Surveillance’ Against Americans, Says Congressman Emmer Amid New Stablecoin Bill appeared first on The Daily Hodl .
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Regulators cbdc central bank digital currency congress Crypto Donald Trump News regulators Tom Emmer
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Bitcoin Price Recovery Possible Above $85K—Will Bulls Step In?
Bitcoin price started a recovery wave above the $80,000 zone. BTC is now rising and might aim for a move above the $84,000 and $85,000 levels. Bitcoin started a decent recovery wave above the $80,000 zone. The price is trading above $82,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $82,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $84,000 and $85,000 levels. Bitcoin Price Eyes Breakout Bitcoin price remained strong above the $78,000 level. BTC formed a base and recently started a recovery wave above the $80,000 resistance level. The bulls pushed the price above the $82,000 resistance level. The price surpassed the 23.6% Fib retracement level of the downward wave from the $91,060 swing high to the $76,820 low. However, the bears are now active near the $84,000 resistance zone. Bitcoin price is now trading above $82,000 and the 100 hourly Simple moving average . There is also a connecting bullish trend line forming with support at $82,000 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $84,000 level and the 50% Fib retracement level of the downward wave from the $91,060 swing high to the $76,820 low. The first key resistance is near the $85,000 level. The next key resistance could be $85,650. A close above the $85,650 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $84,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,000 level and the trend line. The first major support is near the $81,200 level. The next support is now near the $80,000 zone. Any more losses might send the price toward the $78,000 support in the near term. The main support sits at $76,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $82,000, followed by $81,200. Major Resistance Levels – $84,000 and $85,000. The Daily Hodl
SEC vs Ripple: XRP Lawsuit Wrapping up as Negotiations Reach Final Stage—Report
Ripple’s high-stakes legal battle with the SEC may soon end, as negotiations reportedly center on vacating a key ruling that imposed a $125 million fine. SEC vs. Ripple Nears Settlement? Report Suggests a Resolution Is Closer Than Ever The U.S. Securities and Exchange Commission (SEC) case against Ripple regarding the sale of XRP could be The Daily Hodl
