U.S. Congress

U.S. President Donald Trump signed an executive order on October 17 bypassing a Congress-passed Russia sanctions bill named for the late Senator Lindsey Graham, citing ’national interests.’ Ukrainian President Zelenskyy immediately warned the move amounted to ‘rewarding Putin’ and would extend the war. The bill was set to take effect in 11 days, and Trump simultaneously waived tariffs on the largest buyers of Russian oil, prompting bipartisan criticism and concern from European allies.

According to The Block, U.S. crypto advocacy group Stand With Crypto unveiled its first round of Senate endorsements after the digital asset market structure bill was blocked in a procedural vote, aiming to advance crypto asset-related legislation through grassroots mobilization and policy advocacy. The group mobilized millions of voters on crypto issues during the 2024 election cycle, and the new list is seen as an important signal of the crypto industry’s continued push on the legislative front.

The U.S. House Committee has expanded its regulatory probe into the crypto industry, requesting records from Crypto.com, Hyperliquid and PredictIt covering government insider activity, employee trading, and suspicious activity reports, signaling continued congressional pressure on crypto and prediction market compliance.

CoinDesk reported on September 13 that as the U.S. Senate returned from summer recess, the Crypto Clarity Act still lacks a clear schedule for advancement in the Senate. The bill has already passed the House, but the Senate remains significantly divided over core provisions on digital-asset classification, the allocation of regulatory authority and stablecoin reserve requirements. Several industry observers have described the bill as being in a Schrödinger-style state of simultaneous life and death, stressing that until the Senate majority leader signals that it will be placed on the priority agenda, the bill’s ultimate fate remains highly uncertain.

A sweeping cryptocurrency bill faces a narrowing path to passage as pressure grows on the Senate to take up the legislation next month.