The U.S. Senate Passes Important Crypto Assets Bill, Taking a Key Step in Regulatory Process

The U.S. Senate recently passed the landmark "GENIUS Act," marking a significant advancement in the federal government's regulation of stablecoins. The passage of this bill also puts pressure on the House of Representatives to expedite the next phase of national digital asset regulation planning. This is the first time the U.S. Senate has passed such important Crypto Assets legislation.

One of the main sponsors of the bill expressed gratitude for the support of his colleagues before the official vote. Less than a week ago, senators had already voted overwhelmingly in favor of the bill, so its eventual passage was not surprising.

Next, the House will need to decide how to advance the related legislative process. In April of this year, the House Financial Services Committee proposed its own stablecoin legislation - the "Stablecoin Transparency and Accountability to Promote a Better Ledger Economy Act." However, this proposal has not yet been submitted for a full House vote.

Crypto Assets Market Trends

As of the time of writing, the prices of major Crypto Assets are as follows:

• BTC: $104,691, 24-hour change -2.2%
• ETH: 2,516.29 USD, 24-hour decline of 2.0%
• SOL: 148.20 USD, 24-hour decline of 2.4%
• DOGE: $0.1701, 24-hour decline of 2.4%
• XRP: $2.16, 24-hour change -4.4%
• TRX: $0.2718, 24-hour drop 1.4%

The Federal Reserve will discuss easing bank leverage ratio requirements

The Federal Reserve announced that it will hold a board meeting on June 25 to discuss plans to amend the "supplementary leverage ratio". This measure requires banks to set aside a certain proportion of capital regardless of asset risk. This meeting will be the first important meeting after the appointment of the Federal Reserve's new chief regulatory officer.

Relaxing leverage ratio requirements could be the first step in a series of easing rule plans by the Federal Reserve. New officials aim to reform the way the Federal Reserve regulates and supervises large complex banks in the United States. Although the Federal Reserve has not disclosed specific proposal details, the banking industry has been calling for modifications to the supplementary leverage ratio for years, hoping to exempt traditional safe assets or adjust the leverage ratio calculation formula. Banks believe that the current supplementary leverage ratio may limit their ability to enter the Treasury market during periods of market stress.

Crypto Assets Industry Dynamics

1. A major bank will pilot the issuance of the deposit token JPMD on a blockchain network, representing the bank's dollar deposits, indicating that financial institutions are further deepening their layout in the field of digital assets.

2. A certain Crypto Assets trading platform is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer blockchain-based stock services.

3. The stablecoin project Plasma announced that the deposit limit will no longer be increased, with a total cap maintained at $1 billion. Although the recharge channel is closed, the system will continue to operate. Users can withdraw at any time before the lock-up period begins, but withdrawing or transferring proof tokens will reduce the allocated share.

4. A trading platform has officially announced its entry into the German and Polish markets, offering fully compliant centralized Crypto Assets trading services. Users in Germany and Poland can trade over 270 types of Crypto Assets, including more than 60 trading pairs with the euro.

5. Deutsche Bank plans to launch a minimum viable product (MVP) for asset tokenization and services on its blockchain-as-a-service platform in November 2025. The platform aims to reduce the upfront hardware and infrastructure costs for enterprises exploring tokenization, allowing asset managers, wealth advisors, and other financial companies to create, distribute tokenized assets and provide related services.

6. Asset management company VanEck plans to launch a private digital asset fund called the VanEck PurposeBuilt Fund this month. The fund will be managed by the VanEck's Digital Assets Alpha Fund (DAAF) team, focusing on the Avalanche blockchain ecosystem, investing in tokenized Web3 projects in areas such as gaming, financial services, payments, and artificial intelligence, as well as early projects with long-term token utility.

7. The chairman of a major e-commerce platform stated that the company plans to apply for stablecoin licenses in major currency countries worldwide to achieve efficient exchanges between global enterprises. The plan aims to reduce global cross-border payment costs by 90% and improve efficiency to within 10 seconds. In the future, it may also expand into the C-end payment field, allowing consumers to use the platform's stablecoin for payments globally.