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Crypto

Trump moves to broker late-stage Clarity bill deal as talks stall over ethics provision

U.S. President Donald Trump is set to meet senators to discuss a disputed ethics provision in the Clarity crypto market structure bill. Talks are focused on whether to restrict top officials, including the president, from holding personal business interests in the crypto industry. Democrats say they will not cooperate on a final vote without the clause. Senate leaders aim for floor action before the Aug. 7 work period ends.

Crypto

Dormant bitcoin awakens after 14 years, ownership dispute in focus on 720,000 percent return

A cache of 30 bitcoin that had not moved for more than 14 years has recently been transferred, drawing attention. The coins were first received on Aug. 7, 2011 and moved in bitcoin block 956627. Galaxy Research said the wallet had been dormant for 14 years and 9 months, valuing the holdings at $1.88 million and calculating a 719,353 percent return based on a $9 average purchase price. The coins are linked to an ongoing ownership lawsuit in New York.

Crypto

U.S. CLARITY Act passage this year in doubt as bipartisan clash intensifies

A bipartisan clash is growing again over the U.S. Senate’s crypto market structure bill known as the CLARITY Act. Senator Cynthia Lummis rejected criticism from Senator Elizabeth Warren that the bill would create anti-money laundering loopholes, saying it includes more than 16 safeguards to block illicit flows. Warren said hostile foreign actors move billions through crypto networks and warned the bill could worsen the problem. Banks and other groups have also raised concerns over exemptions and competition issues.