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U.S. Senators Cynthia Lummis and Bill Cassidy introduced the "Mined in America Act," aimed at promoting the development of the cryptocurrency mining industry and codifying President Trump's executive order establishing a strategic Bitcoin reserve into law.The bill plans to strengthen the role of cryptocurrency mining in the U.S. economy while consolidating previous policy arrangements regarding the strategic Bitcoin reserve through legislation. This reserve is primarily composed of Bitcoin seized by the U.S. Treasury through law enforcement actions. The bill also requires the U.S. Department of Commerce to establish a voluntary certification system to regulate and manage mining pools and facilities.In addition, certified mining facilities must gradually reduce their reliance on mining equipment produced by companies associated with "foreign adversaries." The proponents state that this bill is one of the important measures to promote the U.S. as a global digital asset hub and aims to enhance the nation's strategic position in the cryptocurrency industry chain.

According to Politico, Senate Republicans are considering adding bank deregulation provisions to the cryptocurrency market structure bill to help advance a stalled housing proposal.

According to The Block, amid ongoing disputes over stablecoin yields, senior House Republican French Hill has suggested that the Senate directly adopt the House-passed cryptocurrency market structure bill, the CLARITY Act, to advance the legislative process.The bill received bipartisan support in the House last year but did not address the current contentious issue in the Senate—the stablecoin yield problem. Hill stated that if the Senate cannot reach a clear conclusion, it should consider adopting the House version, which has the support of 78 Democrats, as a solution. He also noted that the Treasury could intervene, as the OCC released a proposal last week regarding the implementation of the GENIUS Act and sought public comments.

According to crypto journalist Eleanor Terrett, a16z co-founders Marc Andreessen and Chris Dixon had a lunch meeting with Republican senators, focusing on advancing cryptocurrency market structure legislation to solidify the United States' global leadership in the fields of crypto and AI.

Some Republican lawmakers are urging the U.S. Treasury to purchase Bitcoin. Senator Cynthia Lummis has reportedly suggested to Treasury Secretary Yellen to use the U.S. gold reserves to buy Bitcoin. She proposed this idea to Yellen last year and stated that she would support actions taken within the existing executive authority.

According to Jinshi, U.S. Democratic Senator Warren stated that no Republican should agree to advance the nomination of Waller before President Trump halts the investigation into the Federal Reserve.

Cryptocurrency journalist Eleanor Terrett posted on X platform that several leading companies and industry associations in the cryptocurrency sector have expressed support for the Senate Republicans' (BankingGOP) market structure bill this evening, following Coinbase's public opposition. Currently, a16z, Circle, Kraken, Digital Chamber, Ripple, and Coin Center have all expressed their support.

As Democratic Commissioner Caroline Crenshaw leaves the U.S. Securities and Exchange Commission (SEC), the SEC is now entirely composed of Republicans. The Trump administration is unprecedentedly consolidating control over the executive branch, and it is expected that the SEC, composed entirely of Republicans by 2026, will accelerate the formulation of pro-crypto regulatory policies, with internal dissent now vanished.The three current Republican commissioners at the SEC are Chairman Paul Atkins, Hester Peirce (nicknamed "Crypto Mom"), and Mark Uyeda. There are currently two vacant seats, resulting in the first instance of all sitting commissioners being from a single party, which U.S. economic policy experts have described as "unprecedented."

According to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) is currently fully controlled by the Republican Party and is expected to introduce cryptocurrency-friendly regulations by 2026. The agency will continue to implement last year's rule-making efforts that support cryptocurrencies, as Republicans are generally more favorable towards the cryptocurrency industry than Democrats.It is reported that the U.S. Senate is expected to vote on the cryptocurrency market structure bill soon.

According to Cointelegraph, the U.S. House of Representatives passed the National Defense Authorization Act (NDAA) on Wednesday with a vote of 312-112, but the bill did not include the previously promised ban on central bank digital currencies (CBDCs), leading to dissatisfaction among hardline Republicans.Republican Congressman Keith Self posted on the X platform, "Conservatives were explicitly promised that strong anti-CBDC language would be included in the NDAA, but that promise was broken." Self had submitted an amendment on Tuesday to include a CBDC ban, but the amendment did not advance and was not voted on in the House. In July, House Republican leadership had reached an agreement with hardliners in the party to include a CBDC ban in the defense spending bill in exchange for their support on three cryptocurrency bills. Congresswoman Marjorie Taylor Greene also criticized House Speaker Mike Johnson for not fulfilling the promise. The bill has now been sent to the Senate, aiming for passage by the end of the year. Self stated that he would continue to push for a CBDC ban in the next must-pass legislation.

The Republicans avoided a surprising defeat in the U.S. House elections held in Tennessee on Tuesday, which relieved Trump and his congressional allies. According to predictions from the Associated Press, NBC News, and the election analysis site Decision Desk HQ, Trump-backed Republican candidate Matt Van Epps is set to win. Trump praised the Republican victory in a social media post, and Epps also announced his victory. However, even with the win, voters in a district where Trump won by a landslide a year ago are gradually distancing themselves from the Republican Party. This is the latest data point indicating the Republican Party's troubling prospects in next year's midterm elections.In a series of elections this year, the Democrats have outperformed their voting advantage for the 2024 presidential election. Just a few weeks ago, the party achieved political victories in New York City, New Jersey, and Virginia, sweeping the ballots, and won a redistricting referendum in California aimed at weakening the Republican advantage in Congress. (Jinshi)

According to Cryptopolitan, well-known cryptocurrency advisor and XRP supporter lawyer John Deaton announced that he will run for the U.S. Senate in 2026 as a representative from Massachusetts. If Republicans vote to support him, Deaton will gain the party's nomination, which would be a significant boost for his campaign in November. Unlike his last campaign, cryptocurrency is not the foundation of his campaign platform.The media analysis indicates that the political environment in Massachusetts is quite challenging for Deaton, as the state's voters are among the most staunchly Democratic supporters in the nation. In 2024, Deaton lost to Warren by nearly 20 percentage points.

According to Jinshi reports, Trump stated that the Republican Party should abolish the lengthy debate process (the Democrats will do this whenever they get the chance!), end government shutdowns, pass many great "things," and win the midterm elections. This is easy to do; be the smart side, not the stupid side!

BitMEX co-founder Arthur Hayes posted: Today the Republican Party was completely defeated by the Democratic Party. It's time for Trump and Treasury Secretary Mnuchin to restart the money printing machine in 2026 and distribute various benefits to prevent the Republican Party from suffering a crushing defeat in the midterm elections in November 2026. I hope you hold long positions in Bitcoin and ZEC.The Democratic Party won the gubernatorial elections in Virginia and New Jersey on Tuesday, regaining political momentum. Voter anxiety over the economic situation during Trump's second term may pave the way for the Democrats to gain control of Congress next year. Abigail Spanberger's easy victory in the Virginia gubernatorial race, along with Mikie Sherrill's win in New Jersey, collectively represent the Democratic Party's most significant electoral victories since Trump returned to the White House.

According to a report by Wall Street Watch, on Tuesday, the current U.S. government shutdown entered its 35th day, matching the longest shutdown record set in 2018-2019. This deadlock is causing significant waves in the financial markets, with analysts suggesting that its effect on liquidity is comparable to multiple rounds of interest rate hikes.Senate Majority Leader John Thune proposed a potential solution on Tuesday, aiming to combine a bill providing short-term funding for the government with a voting opportunity to extend subsidies under the Affordable Care Act (ACA). This proposal is seen as a key step to breaking the deadlock, designed to meet the core demands of the Democrats that have persisted since September.Some Republican lawmakers predict that the deadlock may end this week. Republican Senator Markwayne Mullin from Oklahoma expressed that he is "very confident" about reaching an agreement this week, specifically noting, "I think we have a chance to finish by tomorrow (Wednesday) night... but more likely on Thursday."However, President Trump has once again pressured Republicans to abolish the Senate's "filibuster" rule, and the apparent divisions within the Democratic Party over compromise proposals add uncertainty to the final agreement.

ChainCatcher news, according to crypto journalist Eleanor Terrett, cryptocurrency and AI czar David Sacks plans to meet with Republican members of the Senate Banking Committee tomorrow morning to emphasize the importance of advancing the market structure bill out of committee this year and to address concerns publicly expressed by members, including Senator John Kennedy, regarding the process.This meeting comes at a time when cryptocurrency activities are frequent on Capitol Hill tomorrow, including two industry roundtables—one hosted by Senator Gillibrand and the other by Senator Tim Scott. According to Republican and Democratic sources, they believe these gatherings represent positive momentum to restart the recently stalled bipartisan negotiations.

ChainCatcher news, according to The Block, a new bill in the U.S. House of Representatives will implement an executive order signed by President Trump, which directs the Department of Labor to pave the way for including cryptocurrency and private equity investments in 401(k) retirement plans.Informed sources revealed that Republican Congressman Troy Downing from Montana will introduce the bill on Tuesday, titled the "Retirement Investment Options Act." The source stated, "The focus of the bill is to codify the executive order and give it long-term effect. The core driving force of the bill is to promote financial democratization and allow more people to access these alternative investments." The bill has four Republican co-sponsors: Representatives Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. According to sources, there is currently no corresponding version of the bill in the Senate.

ChainCatcher News: U.S. Republican Congressman Troy Downing will introduce a new bill titled the Retirement Investment Choice Act on Tuesday, aimed at legislating an executive order previously signed by President Trump to allow cryptocurrencies and private equity to be included in the investment options for 401(k) retirement plans.The bill has the support of four Republican co-sponsors, including Byron Donalds, Buddy Carter, Warren Davidson, and Barry Moore. Downing stated that this move will enable more American savers to access high-potential alternative assets. Previously, the Biden administration had taken a cautious stance on including crypto assets in retirement plans.

ChainCatcher news, according to Jin Shi reports, U.S. Senate Republican leader Thune stated that the Senate will vote on Wednesday to reopen the federal government. He expressed optimism that more support from Democrats could break the funding deadlock.In a television interview, Thune said, "Tonight, when we vote, we will have three (Democrat) votes." He added that Republicans hope to gain more votes in the next round of voting. "Ultimately, we will have enough votes in the Senate to pass the bill and keep the government running." Thune blamed the ongoing government shutdown on the Democratic leadership, accusing Senate Minority Leader Chuck Schumer, a Democrat from New York, of catering to progressive lawmakers. "This is all completely unnecessary," Thune said, "They are doing this just to appease the left-wing base and Schumer's fears."

ChainCatcher news, according to Bloomberg, U.S. Republican Congressman Zachary Nunn has called for the federal government to review Bitcoin mining hardware manufacturers Bitmain and Cango Inc., stating that the expanding operations of these two companies in the U.S. may pose national security risks.Nunn pointed out that Bitmain and Cango "seem to be expanding their operations in the U.S. through complex ownership structures and financing arrangements, which regulators and the public may not fully understand in terms of transparency." In response, representatives from both Bitmain and Cango stated that they strictly comply with all U.S. laws and have no affiliations with any government or state-owned enterprises.Bitmain indicated that it has noted rumors regarding its plans to acquire Cango, but "these rumors are completely untrue," while denying that it is exploring direct ownership of U.S. power plants, stating that claims regarding its mining machines potentially affecting infrastructure are "nonsense." Cango, on the other hand, stated that it does not comment on "market rumors" or potential merger and acquisition transactions.