Seeds of Wisdom RV and Economic Updates Monday Afternoon 5-5-25
Good Afternoon Dinar Recaps,
HOUSE REPUBLICANS RELEASE DISCUSSION DRAFT OF A BILL TO REGULATE THE CRYPTO INDUSTRY AT LARGE
▪️ The discussion draft released on Monday includes language around the U.S. SEC and CFTC’s authority.
▪️ The draft also includes requirements around disclosures and outlines how “digital commodity exchanges” would be registered.
House Republicans have unveiled a discussion draft of a bill aimed at regulating the digital asset industry, building on years of legislative groundwork.
Leading the initiative are top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — in collaboration with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Dusty Johnson. The draft was officially released on Monday.
“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” said Rep. Hill in a statement.
“Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States.”
Blueprint for the 21st Century
As previously reported by The Block, lawmakers planned to release the draft before a key hearing titled:
“American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.”
This new draft is expected to mirror last year’s Financial Innovation and Technology for the 21st Century Act (FIT21), which successfully passed the House.
What FIT21 Proposed
FIT21 was designed to clarify the regulatory lines between:
The Securities and Exchange Commission (SEC)
The Commodity Futures Trading Commission (CFTC)
It would grant more power and funding to the CFTC to oversee:
Crypto spot markets
Digital commodities — particularly Bitcoin
The bill would also establish parameters for how and when the SEC exercises jurisdiction over digital assets.
Key Components of the New Discussion Draft
The updated draft released Monday includes:
Language detailing the authority of the SEC and CFTC
A “pathway to raise funds under the SEC’s jurisdiction”
A “clear process to register with the CFTC for digital commodity trading”
Disclosure requirements for crypto projects
Registration guidelines for “digital commodity exchanges”
@ Newshounds News™
Source:
~~~~~~~~~
ARIZONA SENATOR VOWS TO REINTRODUCE BITCOIN RESERVE BILL DESPITE GOVERNOR’S VETO
▪️ Governor Hobbs' veto did not deter Senator Rogers, who insists future leadership will embrace Bitcoin's potential.
▪️ Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill next session.
▪️ The vetoed bill aimed to allocate retirement funds into Bitcoin, drawing strong reactions from both sides.
Arizona State Senator Wendy Rogers has declared her intent to reintroduce her proposed Strategic Bitcoin Reserve (SBR) bill in the upcoming legislative session, despite a recent veto from Governor Katie Hobbs.
This marks a historic first — the first formal rejection of a crypto initiative by a sitting U.S. governor.
“Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session.”
— Senator Wendy Rogers
About the SBR Bill (Senate Bill 1025)
The bill, officially called Senate Bill 1025, would have:
Authorized the Arizona state treasurer to allocate part of the state’s retirement funds to Bitcoin
Passed both chambers of the Arizona legislature without changes
Been vetoed by Governor Hobbs, who cited concerns over volatility and long-term risk
Despite the rejection, Senator Rogers remains confident that future administrations may take a more favorable stance.
“If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill for this already proven (16 years!) innovation that will protect our wealth.”
— Senator Rogers
Current Exposure to Bitcoin
Interestingly, Arizona’s State Retirement System (ASRS) already has indirect exposure to Bitcoin through investments in Strategy, the largest corporate holder of the asset, according to Julian Fahrer, founder of Bitcoin Laws.
What’s Next for Arizona?
Though SB1025 is currently off the table, crypto legislation in Arizona is far from over. Another proposal — Senate Bill 1373 — is still under review.
🟩 Key Differences in SB1373: Does not involve retirement funds
Seeks to allow the state to retain and manage cryptocurrencies obtained through seizures or appropriated assets
However, given Governor Hobbs’ resistance to
SB1025, it’s unclear whether she would support SB1373 — even though some believe its administrative nature may give it a better shot at approval.
@ Newshounds News™
Source: CryptoSlate
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound's News Telegram Room Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Thank you Dinar Recaps