According to Fox News, Illinois Representative Krishnamoorthi has entered the increasingly crowded Democratic race for the U.S. Senate, a move that could influence future crypto-related legislation and regulation due to his established positions on technology and financial oversight (Fox News, May 7, 2025). Traders should monitor Krishnamoorthi's campaign, as his potential ascent to the Senate could affect the trajectory of U.S. crypto regulatory frameworks, potentially impacting digital asset market sentiment and price action.

According to Eleanor Terrett, Senator Ruben Gallego and nine other senators have released a joint statement opposing the current version of the GENIUS Act, citing multiple concerns with the updated bill text released last week (source: Eleanor Terrett, Twitter, May 3, 2025). The senators' stance signals potential delays in regulatory clarity for the cryptocurrency sector, which could create short-term uncertainty for crypto traders and investors. Key issues highlighted include insufficient protections and ambiguities that may affect market participants, raising caution for those trading in digital assets until further legislative developments are confirmed.

According to Eleanor Terrett on Twitter, Rep. French Hill, current Chair of the Financial Services Committee, brings significant private equity and payments industry experience to his crypto policy work, having co-founded Pulse, a payments company. This background is likely to influence regulatory decisions and legislative outcomes relevant to crypto trading markets, especially as Congress debates digital asset regulations (source: Eleanor Terrett, Twitter, April 30, 2025). Traders should monitor upcoming Financial Services Committee sessions, as Hill’s practical experience may shape market-impacting policy frameworks.

According to Eleanor Terrett, Bo Hines, Executive Director of the White House Crypto Council, discussed digital asset legislation, the BTC strategic reserve, and his role in the council during an interview at Blockworks DAS. A bonus episode featuring this discussion is set to be released later this week.

According to Eleanor Terrett, Donald Trump has expressed his expectation for Congress to deliver digital asset legislation to his desk before the August recess. The meeting included notable members such as @GOPMajorityWhip and @RepBryanSteil, with @SenatorTimScott initially setting the legislative goal. This development could significantly impact the cryptocurrency market, as regulatory clarity often leads to increased investor confidence and market stability.