WASHINGTON: The US House passed landmark cryptocurrency bills on Thursday, delivering on the Trump administration’s embrace of the once-controversial industry.
US lawmakers easily passed the CLARITY Act, which establishes a clearer regulatory framework for cryptocurrencies and other digital assets.
The bill is intended to clarify rules governing the industry and divides regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission .
It will now head to the Senate, where Republicans hold a thin majority.
House legislators also easily passed the GENIUS Act, which codifies the use of stablecoins — cryptocurrencies pegged to safe assets like the dollar. That bill was due to immediately go to Trump for his signature to become law.
The GENIUS Act was passed by the Senate last month and sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency.
The raft of legislation comes after years of suspicion against the crypto industry amid the belief that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors.
But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House.
Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission .
He has also established a federal “Strategic Bitcoin Reserve” aimed at auditing the government’s bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures.
The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency — a digital dollar issued by the US Federal Reserve.
Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties.
It would require a not-easily-won passage in the Senate before going to Trump for his signature.
An aborted effort to set the anti-CBDC bill aside caused a furor among a small group of Republicans and delayed the passage of the two other bills before a solution was found.
US House passes landmark crypto bills in win for Trump
https://arab.news/5ht82
US House passes landmark crypto bills in win for Trump
- It will now head to the Senate, where Republicans hold a thin majority
Mass shooting at a South African bar leaves 11 dead, including 3 children
- Another 14 people were wounded and taken to the hospital
- The children killed were a 3-year-old boy, a 12-year-old boy and a 16-year-old girl
CAPE TOWN: A mass shooting carried out Saturday by multiple suspects in an unlicensed bar near the South African capital left at least 11 people dead, police said. The victims included three children aged 3, 12 and 16.
Another 14 people were wounded and taken to the hospital, according to a statement from the South African Police Services. Police didn’t give details on the ages of those who were injured or their conditions.
The shooting happened at a bar inside a hostel in the Saulsville township west of the administrative capital of Pretoria in the early hours of Saturday. Ten of the victims died at the scene and the 11th died at the hospital, police said.
The children killed were a 3-year-old boy, a 12-year-old boy and a 16-year-old girl. Police said they were searching for three male suspects.
“We are told that at least three unknown gunmen entered this hostel where a group of people were drinking and they started randomly shooting,” police spokesperson Brig. Athlenda Mathe told national broadcaster SABC. She said the motive for the killings was not clear. The shootings happened at around 4.15 a.m., she said, but police were only alerted at 6 a.m.
South Africa has one of the highest homicide rates in the world and recorded more than 26,000 homicides in 2024 — an average of more than 70 a day. Firearms are by far the leading cause of death in homicides.
The country of 62 million people has relatively strict gun ownership laws, but many killings are committed with illegal guns, authorities say.
There have been several mass shootings at bars — sometimes called shebeens or taverns in South Africa — in recent years, including one that killed 16 people in the Johannesburg township of Soweto in 2022. On the same day, four people were killed in a mass shooting at a bar in another province.
Mathe said that mass shootings at unlicensed bars were becoming a serious problem and police had shut down more than 11,000 illegal taverns between April and September this year and arrested more than 18,000 people for involvement in illegal liquor sales.
Recent mass killings in South Africa have not been confined to bars, however. Police said 18 people were killed, 15 of them women, in mass shootings minutes apart at two houses on the same road in a rural part of Eastern Cape province in September last year.
Seven men were arrested for those shootings and face multiple charges of murder, while police recovered three AK-style assault rifles they believe were used in the shootings.
