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Yahoo
2 hours ago
- Business
- Yahoo
Genius, Clarity bills sail through House in major win for crypto
In a historic victory for crypto, the House of Representatives approved three industry-backed bills on Thursday, one of which President Donald Trump will sign Friday afternoon. Two of the bills drew significant — an unexpected — bipartisan support. The Clarity Act, which would install the Commodity Futures Trading Commission as the industry's primary regulator, passed 294-134. Most Democrats, furious the bill didn't include language barring Trump from launching or promoting his own crypto companies, voted against the bill. Still, the so-called market structure bill earned greater bipartisan support than a similar bill that passed the House last year. The Clarity Act drew support from 78 Democrats. Only 71 Democrats voted for last year's market structure bill, FIT21. 'The somewhat surprisingly strong Democratic support for the passage of the Clarity Act in the House means that there is a bipartisan constituency for this bill,' Eli Cohen, general counsel at crypto firm Centrifuge, said in a statement. The Genius Act did even better on Thursday. That bill, which will allow banks and other companies to issue their own stablecoins, passed the House 308-122. The Senate approved the Genius Act exactly one month ago. With approval from both chambers of Congress, the bill just needs Trump's signature to become law. The president has scheduled a signing ceremony for 2:30 pm on Friday, according to crypto reporter Eleanor Terrett. Industry trade groups celebrated the bill's passage. 'The bipartisan passage of the GENIUS Act is a watershed moment for digital assets in the United States,' Summer Mersinger, the newly-installed CEO of the Blockchain Association, said in a statement. Amanda Tuminelli, executive director of the DeFi Education Fund, called it a 'historic achievement for the United States.' A third bill, the Anti-CBDC Surveillance State Act, passed 219-210. Only two Democrats voted for the bill, which would ban the US from issuing its own digital currency. Thursday's votes marked the culmination of 'Crypto Week,' which had been hyped as a celebratory moment for a once-embattled industry. But things didn't go according to plan. A group of far-right Republican lawmakers held up a series of procedural votes this week, prompting Trump's direct intervention. The president brokered a deal on Tuesday night, only for that deal to fall apart on Wednesday. After a record-breaking 10-hour vote, the bills cleared their final hurdle late Wednesday, allowing Thursday's votes, which sent the Genius Act to the president and the other two bills to the Senate. Despite Thursday's bipartisan showing, market structure legislation is expected to face steeper odds in the Senate, where 60 votes are typically needed for a bill's passage. Senators have yet to file their own market structure bill. But Democrats on the Senate Committee on Housing, Banking, and Urban Affairs have expressed skepticism over Republicans' stated principles for such legislation. 'It's critical that any crypto regulation bill we pass does not have massive unintended consequences,' Senator Elizabeth Warren, a Democrat from Massachusetts, said last week. Aleks Gilbert is DL News' New York-based DeFi correspondent. You can reach him at aleks@ Sign in to access your portfolio
Al-Ahram Weekly
4 hours ago
- Politics
- Al-Ahram Weekly
The Knesset votes in favour of non-binding motion to annex the West Bank - War on Gaza
The Knesset voted 71-13 on Wednesday in favour of a non-binding motion for Israel to annex the occupied West Bank. The Israeli Knesset draft resolution supports the imposition of so-called "Israeli sovereignty" over the occupied West Bank. This move would effectively begin the annexation process and constitutes a blatant challenge to international law and UN resolutions. According to Israel's Channel 12, the proposal was introduced by members of the ruling coalition before the Knesset's recess. It has garnered open support from senior ministers, including Energy Minister Eli Cohen, who declared, "The time has come for sovereignty over the West Bank." This move mirrors the escalating field operations and coincides with a conference held Monday at the Knesset in West Jerusalem. The conference was attended by several right-wing ministers and lawmakers, particularly from the ruling Likud party, as well as former US ambassador to Israel David Friedman. The Palestinian Ministry of Foreign Affairs and Expatriates strongly condemned the move. In a statement on Wednesday, the ministry stressed that these 'colonial' measures reinforce a system of apartheid in the occupied Palestinian Territory and reflect blatant disregard for United Nations resolutions and the advisory opinion of the International Court of Justice (ICJ), WAFA news agency reported. On 19 July 2024, the International Court of Justice affirmed what it called "Israel's unlawful presence in the occupied Palestinian territory." The statement further warned that such actions deliberately undermine the prospects of implementing the two-state solution, especially following the Knesset's decision to reject a Palestinian state, as well as constituting a clear call to escalate the cycle of wars and violence. The ministry also warned that the occupation continues to expand colonial settlements and deepen annexation daily. It called on states and the international community to take these developments seriously, to strongly condemn them, and to take all necessary measures to stop them immediately, especially as the date for hosting the UN conference on the two-state solution approaches. Motions for the agenda have no practical implications and will not impact the legal status of the West Bank, The Times of Israel reported. Last year, the Knesset approved a similar motion for the agenda opposing a Palestinian state that passed 68-9. Israel occupied the West Bank, along with Jerusalem and the Gaza Stri,p in 1967. Since the start of Israel's genocidal war on the Gaza Strip in October 2023, the Israeli occupation forces have conducted near-daily raids and expanded their military operations in the occupied West Bank. Demolitions and expansion of colonial settlements also continued. The Israeli occupation authorities demolished or seized 884 buildings, most of them homes, displacing nearly tens of thousands of Palestinians. Follow us on: Facebook Instagram Whatsapp Short link:
Jordan News
14 hours ago
- Politics
- Jordan News
Amid Continued Israeli Raids… Knesset to Vote on West Bank Annexation - Jordan News
A 14-year-old Palestinian boy, Ibrahim Nasser, was killed and another injured after Israeli occupation forces opened fire on them in the town of Qabatiya, south of Jenin in the northern occupied West Bank, according to medical sources reported by Al Jazeera. اضافة اعلان His killing on Tuesday evening came amid an ongoing military escalation, with Israeli forces continuing widespread raids across cities and towns in the West Bank. Early Wednesday morning, occupation forces raided Nablus and Tulkarm, along with surrounding villages. In Nablus, they imposed a siege on Rafidia Hospital, blocking the emergency department entrance and inspecting ambulances. The raids also extended to towns in Jenin, Bethlehem, and Hebron. Knesset Vote on Annexation In the midst of this military escalation, the Israeli Knesset is scheduled to vote on Wednesday on a draft resolution supporting the imposition of so-called 'Israeli sovereignty' over the West Bank—a move that would effectively begin the annexation process and constitutes a blatant challenge to international law and UN resolutions. According to Israel's Channel 12, the proposal was introduced by members of the ruling coalition before the Knesset's recess. It has garnered open support from senior ministers, including Energy Minister Eli Cohen, who declared: 'The time has come for sovereignty over the West Bank.' Sovereignty over the West Bank This political move mirrors the escalating field operations and coincides with a conference held Monday at the Knesset in West Jerusalem, attended by several right-wing ministers and lawmakers, particularly from the ruling Likud party, and former U.S. ambassador to Israel David Friedman. Israeli Justice Minister Yariv Levin said during the conference: 'Israel is facing a historic opportunity that must not be missed—to apply full sovereignty over Judea and Samaria,' referring to the West Bank using its biblical terminology. He added: 'We need swift action and must not surrender. Sovereignty should extend to all settlements.' Energy Minister Eli Cohen echoed similar rhetoric, saying: 'There will be only one state between the Mediterranean and the Jordan River—Israel. Sovereignty over the West Bank is a security necessity before being a political choice,' according to his claim. Knesset Speaker Amir Ohana, who opened the conference, recalled that the Knesset had previously passed a resolution with 68 votes opposing the establishment of a Palestinian state, asserting that the West Bank represents 'Israel's front line of defense.' Knesset member Avichai Boaron, one of the proposal's supporters, argued that over 500,000 settlers currently live under what he described as "Jordanian law" and should be brought under Israeli law 'for the safety of Israel and its children.' Former U.S. Ambassador David Friedman also voiced support for the move, expressing regret that Israel had not pursued annexation during his tenure, calling sovereignty over the West Bank 'not a whim but a shared interest.' Escalation on All Fronts This latest step follows a steady increase in official calls for annexation, including a letter sent on July 2 by 14 Likud ministers and Knesset Speaker Ohana to Prime Minister Benjamin Netanyahu, urging him to immediately approve annexation of the West Bank. Such a move would represent a violation of international law and UN Security Council and General Assembly resolutions, which call for ending the Israeli occupation of the Palestinian territories occupied in 1967, including the West Bank and East Jerusalem. Since the war on Gaza began on October 7, 2023, the Israeli military and settlers have intensified attacks in the West Bank, resulting in the killing of over 1,000 Palestinians and the injury of approximately 7,000 others, according to Palestinian data.
Middle East Eye
15-07-2025
- Politics
- Middle East Eye
Israel says it will cut off electricity and water to Unrwa's offices
The UN Relief and Works Agency for Palestine Refugees (Unrwa) continues to be targeted by Israel. In the latest attack on the agency, Israeli Energy Minister Eli Cohen announced the government was planning to cut off electricity and water to the aid group's offices in a post on X on Tuesday. In October 2024, Israel banned Unrwa from operating in Israel. It followed this up by forcing six Unrwa-run schools to close in East Jerusalem.
Al Mayadeen
15-07-2025
- Politics
- Al Mayadeen
‘Israel'-Syria ties dramatic development in Middle East: Israeli media
Israeli-Syrian ties were the topic least debated in public, despite being one of the hot topics discussed behind closed-door meetings between Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump at the White House, Yedioth Ahronoth reported. Though absent from public discourse, the newspaper describes the topic as one of the most dramatically significant undercurrents in recent diplomacy. According to the report, efforts to normalize ties between Tel Aviv and Damascus could allow Syria's leadership to claim a major political breakthrough before its citizens. The paper claims that normalization, however limited, could serve as a springboard for broader regional stability and act as a catalyst for renewed 'peace talks' across the Middle East. It speculates that the evolving dynamic might eventually lead to a partial reconfiguration of ties between 'Israel' and Syria's post-conflict regime. One potential gesture mentioned is the return of the remains of Israeli spy Eli Cohen, executed in Syria in 1965, as part of a series of mutual confidence-building measures. Read more: How Eli Cohen's documents arrived in 'Israel': Israeli media "Why could this meeting change the rules of the game?" the report asks, highlighting the potentially dramatic nature of such diplomacy. Furthermore, Ynet suggests 'Israel' might consider withdrawing from the demilitarized buffer zone in exchange for firm security guarantees from the US and not the UN. This would, according to the paper, allow 'Israel' to act 'preemptively' in the event of intelligence pointing to any military movement near the border, similar to the threat it faces from Hezbollah in Lebanon. Read more: Israeli army preparing for a long stay in Syria: Israeli media The report further notes that such steps could pave the way for an expanded diplomatic process, starting with formalizing bilateral relations, followed by reforms in Syria's educational system and even Israeli support for agricultural development in border regions. According to Yedioth Ahronoth, 'If peace efforts between Israel and Syria progress and the relationship stabilizes, moderate Sunni states such as Saudi Arabia, Jordan, and the United Arab Emirates would be more inclined to invest in Syria without the looming fear of war.' This, in turn, would significantly reduce the financial risks tied to major investments. The newspaper also links the potential thaw in 'Israel'-Syria relations to broader US ambitions in the region. It argues that Trump's push to expand the so-called 'Abraham Accords' could bolster his status, positioning him as a frontrunner for the Nobel Peace Prize, which is on his checklist. Such a diplomatic win, the article suggests, would serve as a cornerstone of Trump's agenda to 'Make America Great Again,' both by reasserting US influence in the Middle East and positioning the United States as a central player in the reconstruction and development of a post-war Syria. Read next: Syrian-Israeli normalization 'very possible', Trump allies say
