The post Senator Lummis Warns China Will Overtake the US in Crypto if CLARITY Bill Stalls appeared on BitcoinEthereumNews.com.
The United States will lose its leadership position in crypto to other countries, including China, if US lawmakers fail to pass the Digital Asset Market Clarity Act (CLARITY), a crypto market structure bill, according to Wyoming Senator Cynthia Lummis. Passing a comprehensive crypto regulatory framework would “ensure” that other countries “do not write the rules of the next financial era,” Lummis said. She added in a separate X post: “America built the dollar-dominated financial system that has anchored global stability for a century. The Clarity Act ensures we build the next one. The time to act is now, before Beijing decides it will.” In May, the Senate Banking Committee voted to advance the CLARITY Act after the legislation had stalled for months, reviving crypto industry hopes that the bill might be codified into law in 2026. Source: Senator Cynthia Lummis
The post CLARITY Act Enters Critical June Deadline as Lummis Warns of Chinese Dominance in Crypto Regulation appeared on BitcoinEthereumNews.com.
TLDR Galaxy Digital’s Mike Novogratz declares June the final opportunity for the CLARITY Act, stating it’s a “now or never” moment Senator Cynthia Lummis cautions that failing to pass crypto legislation now could delay action until 2030 JPMorgan’s Jamie Dimon confirms banking sector will aggressively oppose the current bill due to deposit interest provisions and AML standards Following Treasury Secretary Scott Bessent’s congressional appeal, Polymarket betting odds rose to 60% for passage A crowded Senate schedule including reconciliation debates, FISA matters, and housing legislation threatens the bill’s timeline A pivotal cryptocurrency market structure bill known as the CLARITY Act is approaching what may be its last chance for passage in this congressional session. Political leaders, crypto executives, and administration officials are mou
The post JPMorgan CEO Jamie Dimon Criticizes Coinbase, Opposes CLARITY Act appeared on BitcoinEthereumNews.com.
Rongchai Wang
May 29, 2026 23:02
JPMorgan’s CEO Jamie Dimon criticizes Coinbase and vows banks will oppose the CLARITY Act, a landmark crypto market-structure bill advancing in Congress.
JPMorgan CEO Jamie Dimon has made it clear that the banking industry will continue to oppose the Digital Asset Market Clarity Act (CLARITY), a landmark crypto market-structure bill currently advancing in Congress. Speaking to Fox Business on May 29, Dimon specifically criticized crypto exchange Coinbase and its CEO, Brian Armstrong, for their lobbying efforts in favor of the legislation. Dimon argued that the latest version of the CLARITY Act gives crypto firms unfair advantages over traditional banks. According to him, the bill allows companies to pay interest on deposits and stablecoin balances without being subject to the same Anti-Money Laundering (AML), sanctions, and c
The post US Seizes Nearly $1 Billion in Iranian Crypto Assets, Treasury Secretary Says appeared on BitcoinEthereumNews.com.
The United States has seized roughly $1 billion in Iranian crypto assets, Treasury Secretary Scott Bessent said Friday, adding that some of the wallet owners may not yet know the funds are gone. “I believe that we have seized about a billion dollars of their crypto,” Bessent said while speaking at the Reagan National Economic Forum. “Just outright grabbed the wallets. Some of them may be typing in right now and not have realized that their wallet had been grabbed,” he added. Bessent said the seizures are part of the US financial pressure campaign against Iran, known as Operation Economic Fury. Launched in March 2025, the operation has targeted Iranian assets across multiple fronts, seizing cryptocurrency, freezing bank accounts and working with European allies to confiscate properties. Scott Bessent at the Reagan National Economic Forum. Source: YouTube “I think b
The post GOP Portfolios Shift Toward Bitcoin and Other Trump Favorites: Report appeared on BitcoinEthereumNews.com.
GOP lawmakers in the US are increasingly investing in assets favored by Donald Trump. It appears that Bitcoin is no longer just a campaign talking point in DC – it’s becoming a very visible part of political investment portfolios in the circles close to President Donald Trump. Republican lawmakers have shifted their portfolios to reflect assets and companies that are in the president’s favor. GOP Trades Follow Trump’s Crypto Signal According to a recent report, GOP lawmakers have migrated their portfolios toward “Trump favorites.” These include Intel and Bitcoin, which underscores how closely political sentiment and market positioning have started to overlap. The report also says that investments in the iShares Bitcoin Trust ETF currently account for about 4% of total Republican holdings, subject to the analysis. This figure is relatively small compared to traditional s
The post Crypto News: US Seized $1 Billion in Iranian Crypto, Owners May Not Know appeared on BitcoinEthereumNews.com.
Key Insights Crypto news focused on a $1 billion Iranian asset seizure. Treasury expanded Operation Economic Fury against Tehran. U.S. officials said some wallet owners remain unaware. The latest crypto news emerged from Washington after U.S. Treasury Secretary Scott Bessent disclosed a large-scale seizure of Iranian cryptocurrency assets. Speaking on May 30 at the Reagan National Economic Forum, Bessent said authorities had taken control of roughly $1 billion linked to Iran. He added that some affected holders may still not realize their wallets were compromised. The disclosure marked a new stage in the financial campaign targeting Tehran. Crypto news has increasingly intersected with sanctions enforcement as governments expand efforts beyond traditional banking channels. Digital assets have become another battlefield in economic disputes because they allow value tran
The post Lummis Warns China Could Eclipse US on CLARITY Stall as $1B Iran Crypto Seized, Gravity Bridge Loses $5.4M appeared on BitcoinEthereumNews.com.
Crypto News Wyoming Senator Cynthia Lummis has issued a stark warning that the United States risks ceding global leadership in digital assets to China and other rivals if Congress fails to enact the Digital Asset Market Clarity Act before the legislative window closes. Lummis argued that a comprehensive market structure framework is essential to ensure foreign jurisdictions do not dictate the rules of the next financial era, drawing a direct line from the dollar’s century of dominance to the coming era of tokenized finance. The Senate Banking Committee advanced the legislation in May after months of delay, yet ratification before the midterm cycle remains uncertain as competing interests inside Washington continue to pressure the text. JPMorgan chief executive Jamie Dimon publicly committed the banking lobby to opposing the current dra
The draft deal could stabilize regional tensions, potentially lowering oil prices and enhancing global energy security through diplomatic means.
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