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Explainer-What is in the US Senate's landmark crypto bill?

Explainer-What is in the US Senate's landmark crypto bill?

By Hannah Lang May 12 (Reuters) - The U.S. Senate Banking Committee late on Monday unveiled the text of a long-awaited, landmark bill that would create a regulatory framework for cryptocurrencies ahead of a scheduled committee vote to advance the bill on Thursday.
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US Senate blocks latest bid to rein in Trump Iran war powers, support grows

US Senate blocks latest bid to rein in Trump Iran war powers, support grows

By Patricia Zengerle WASHINGTON, May 13 (Reuters) - U.S. Senate Republicans on Wednesday blocked the latest Democratic-led effort to end the Iran war until it is authorized by Congress, but the measure edged closer to passage as a third Republican voted to advance the bill.
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FDA commissioner Makary is resigning, sources say

FDA commissioner Makary is resigning, sources say

By Yasmeen Abutaleb WASHINGTON, May 12 (Reuters) - U.S.
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Senator Kennedy's Support Secures CLARITY Act Passage in Senate Banking Committee

Senator Kennedy's Support Secures CLARITY Act Passage in Senate Banking Committee

Senator John Kennedy has announced his support for the Digital Asset Market CLARITY Act, ensuring its passage in the Senate Banking Committee. This decision comes after a deal with Chairman Tim Scott, which includes adding a fiduciary duty provision for crypto industry workers and incorporating Senator Elizabeth Warren's Build Now Act housing bill into the package. The committee, composed of 13 Republicans and 11 Democrats, required every GOP vote to advance the bill, with Kennedy being the last holdout. The legislative text, released by Chairman Scott, follows extensive negotiations over stablecoin yield rules. The bill had previously passed the House but faced delays in the Senate. White House crypto director David Sacks praised the markup as a significant step for U.S. competitiveness in the crypto market.
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China criticizes US chip equipment bill in run-up to Beijing talks

China criticizes US chip equipment bill in run-up to Beijing talks

By Karen Freifeld May 13 (Reuters) - China is pushing back against proposed U.S. legislation that would curb its chipmakers in the global AI race, making early moves that underscore Beijing's concerns.
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Florida plans to close 'Alligator Alcatraz' migrant detention center, New York Times reports

Florida plans to close 'Alligator Alcatraz' migrant detention center, New York Times reports

By Daphne Psaledakis and Ted Hesson WASHINGTON, May 12 (Reuters) - Florida intends to shut down the controversial federal migrant detention center known as "Alligator Alcatraz", the New York Times reported on Tuesday, citing a federal official and three people familiar with the facility's operations
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Lobbying battle intensifies as E15 ethanol bill nears US vote

Lobbying battle intensifies as E15 ethanol bill nears US vote

By Siddharth Cavale and Jarrett Renshaw NEW YORK, May 12 (Reuters) - Biofuel advocates are making a last-minute push to convince House lawmakers to approve year-round sales of gasoline blended with higher volumes of ethanol ahead of a vote on Capitol Hill this week, as the refining sector seeks to
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Nvidia's Jensen Huang joins Trump's China visit

Nvidia's Jensen Huang joins Trump's China visit

By Laurie Chen and Karen Freifeld BEIJING/NEW YORK, May 13 (Reuters) - Nvidia CEO Jensen Huang has joined over a dozen U.S. CEOs on President Donald Trump's visit to China this week.
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Trump nominates fired FEMA leader to again lead the agency

Trump nominates fired FEMA leader to again lead the agency

By Kanishka Singh WASHINGTON, May 11 (Reuters) - U.S. President Donald Trump has nominated Cameron Hamilton to lead the Federal Emergency Management Agency, which is part of the Department of Homeland Security, a year after Hamilton was ousted from his position as FEMA's acting director last year.
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Senate Republicans move ahead with $1B for Trump's ballroom security as Democrats pledge to fight

Senate Republicans move ahead with $1B for Trump's ballroom security as Democrats pledge to fight

Senate Republicans say they will move forward with a proposal to give the Secret Service up to $1 billion for security upgrades to Donald Trump’s White House ballroom project
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US senators urge Trump to 'stand strong' on shipbuilding in talks with Xi

US senators urge Trump to 'stand strong' on shipbuilding in talks with Xi

By Andrea Shalal WASHINGTON, May 11 (Reuters) - A bipartisan group of U.S. senators on Monday urged President Donald Trump to hold fast to trade remedies proposed by his administration to rebuild U.S. shipbuilding and not offer concessions when he meets with Chinese President Xi Jinping.
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Senators Gallego and Schiff Pressured to Address Ethics in Crypto Legislation Amid Industry Influence

Senators Gallego and Schiff Pressured to Address Ethics in Crypto Legislation Amid Industry Influence

Senators Ruben Gallego and Adam Schiff are facing pressure from progressive advocacy groups to support ethical provisions in a new crypto bill. The legislation, which is set to be voted on by the Senate Banking Committee, has been stalled due to disagreements between the crypto industry and banks over stablecoin yield proposals. Progressive groups are urging the senators to ensure the bill includes measures that prevent President Trump and other high-ranking officials from engaging in crypto businesses. The advocacy groups argue that such provisions are necessary to prevent conflicts of interest and maintain ethical standards in the industry.