Last week, the cryptocurrency industry celebrated its latest victory: the Senate pass “Genius Law” will regulate the hot and stable industry. From a large number of Difficulty in breathingalmost equal fearyou may want the bill to sail on the House and on the land on President Trump’s desk at the end of the summer. However, reality is tricky.
Just to take a step back, let’s consider the absolute impossible that cryptocurrencies have become one of Congress’ most important legislative priorities. This is not a healthcare reform or a major infrastructure tool. You might argue that the attempt to enact regulations for the cryptocurrency sector was in the spirit of Dodd-Frank, but this landmark bill was only passed after the biggest financial crisis since the Great Depression and reshape the foundations of our banking system.
The push for the crypto bill has not surfaced due to the financial crisis. In fact, the opposite is true, with legislative efforts stalling in late 2022 after Sam Bankman Fried’s crypto exchange FTX crashed. But the industry spend Trump is north of $100 million in political donations Embrace The department and a group of lawmakers occupy the mantle of Congress.
Even if you don’t touch cryptocurrencies with a ten-foot pole, the near-pass of the Stability Act has put the industry dangerously close to the mainstream. Remember, Stablecoins is a cryptocurrency that is usually fixed on the US dollar. In the past, cryptocurrency traders have primarily used stable streptococci for chain trading, but companies are increasingly using them for cross-border payments and wages, rather than barrier chain companies are increasingly comfortable adopting them as regulatory prospects melt. stripe Over the past year, large tech companies have Yuan and apple Exploring integration The most successful IPO In history. Now it’s time to start paying attention.
But it all assumes the bill is passed. Political calculations are not as simple as they seem, and even if the Senate’s overwhelming support is, it seems to be the biggest obstacle Encryption skepticism Elizabeth Warren. The problem is that the crypto industry wants not only the Stablecoin bill. Influential groups including Coinbase and Andreessen Horowitz need a second bill that would set rules around market structures, or simply how to issue, trade and oversee cryptocurrencies through the Securities and Exchange Commission and the Commodity Trading Commission, such as the Securities and Exchange Commission. This is a more ambitious importance for the industry.
House Financial Services Chair, Not Advancing a Clean Version of the Senate’s Stability Bill French Mountain (r-ark.) Say clearly He wanted to tie the two together by tying them together. This even opposes Trump’s opposition Posted On the truth social last week, he hopes the Senate’s stability bill at its desk “no delays, no additions ons (sic)”.
The Ring Road insider I talked to said at least at this point, the most likely outcome is that the houses are tied to the Market Structure Act, which will inevitably slow down the Senate gear. The result is that Congress has a small chance to pass anything by August, which is the deadline Trump had previously asked. And if the two bills end up being combined instead of building a house in the Senate Genius Bill, the cryptocurrency industry could be seriously in trouble with the $100 million selling price in making legislation. As one lobbyist told me: “This is a calculus that everyone wants to know (about).
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Leo Schwarz
X: @leomschwartz
e-mail: leo.schwartz@fortune.com
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Risk Trading
– decagonSan Francisco-based customer experience conversation AI platform raised $131 million in C financing at a valuation of $1.5 billion. accelerate and Andreessen Horowitz Lead the tour, joined Afra,,,,, forerunner,,,,, Rib Capitaland existing investors one*,,,,, Bain Capital Venturesand link.
– botpressQuebec-based AI agent developers and deployers raised $25 million in Series B funding. frame Lead the tour, joined Inovia Capital,,,,, Deloitte Adventure,,,,, Hubspot Adventure,,,,, decibeland existing investors.
– VedaThe Defi Vault infrastructure platform in New York City raised $18 million in funding. COINFUND Lead the tour, joined Coinbase Ventures,,,,, GSR,,,,, swirlangel investors and others.
– LyceumBerlin and Zurich-based AI infrastructure developers have raised €10.3 million (USD 11.9 million) in pre-funding. Re-alkali Lead the tour, joined 10 times founder.
– superSan Francisco-based Healthcare Administration’s voice AI platform raised $12 million in Series A funding. Signal speed Lead the tour, joined Slow adventure,,,,, Box groupand Scrub capital.
– qualityThis is the data quality platform for Atlanta enterprises, raising $10 million in Series A funds. BMW I’m taking a risk Lead the tour, joined Conductive enterprises,,,,, Mountain Fundand existing investors Tech Square Ventures,,,,, Noel Adventure,,,,, Internal circulating capitaland others.
– meridianMiami-based AI-powered private market transaction management platform raised $7 million in seed funding. 645 companies Lead this round and join by existing investors CHAAC Adventure and angel investors.
– MoonnoxChicago-based professional services deliver AI solutions, raising $2 million in funding. M25 Lead the tour, joined Hyde Park AngelS, Early businessand Service Provider Capital.
– arrowheadA payroll and human resources management platform in Lagos, Nigeria, raised $1.8 million in seed funding. Risk Lab Action Lead this round and join with existing investors Zrosk,,,,, Chui adventureand Zedcrest Capital.
Private Equity
– Edison Partners Invested $20 million Shucona clinical placement platform for nurse practitioners based in Atlanta.
– Knowledge Healtha portfolio company Arsenal Capital Partners,get Switch RCMheadquartered in Boca Raton, Florida, Florida-based healthcare income intelligence platform. Financial terms are not disclosed.
– Screaming Chemistrya portfolio company Gem Capital,get Carbon chemicalsa distributor of Ringaskiddy specialty chemicals, food ingredients, pharmaceutical raw materials and agricultural products based in Ireland. Financial terms are not disclosed.
– Westview Capital Partners Acquired a majority stake Eyeq Monitoringan Atlanta-based provider of AI-powered remote video surveillance security solutions. Financial terms are not disclosed.
other
– Descartes get Packageroutea FedEx route management solution provider based in Sammamish, Washington, for $2 million.
– Mutores Agree to obtain Intimate Groupsheadquartered in Isernhagen, Germany, a transportation and logistics company from Germany Super Group. Financial terms are not disclosed.
