JH Kim

The three major U.S. stock indices are showing mixed movements. The Nasdaq Composite Index is trading at 20,865.97 points as of 00:19 on the 23rd, down 0.52% from the previous day. The Dow Jones Index is up 0.05% at 44,346.88 points, while the S&P 500 Index is down 0.17% at 6,294.81 points.

All three major U.S. stock indexes closed higher. On the 22nd, the Nasdaq Composite Index rose 0.38% from the previous trading day to 20,974.18 points. The Dow Jones index closed up 0.02% at 44,352.36 points, while the S&P 500 index finished up 0.18% at 6,308.07 points.

According to Eleanor Terrett, host of Crypto in America, on the 21st (local time), the White House of the United States is preparing to release its virtual asset (cryptocurrency) policy report to the public by the end of July. This report was prepared in accordance with Executive Order 14178, which took effect in January, and the official deadline is July 22 (local time). According to a White House official, the draft of the report has been completed in line with the internal schedule, and it could be made available to the public as early as the end of this month.

Anna Paulina Luna, a close associate of former US President Donald Trump and a Republican member of the US House of Representatives from Florida, has filed a criminal complaint with the US Department of Justice (DOJ) against Jerome Powell, Chair of the Federal Reserve (Fed). The charge is 'perjury,' alleging that Powell gave false testimony during a congressional hearing. According to Fox News on the 21st (local time), Congresswoman Luna claims that Powell made two false statements during a Senate Banking, Housing, and Urban Affairs Committee hearing on June 25 regarding the renovation of the Fed headquarters at the Eccles building. Luna stated, "Powell explained that the reason for the cost of the Fed headquarters renovation increasing from $1.9 billion to $2.5 billion was due to 'minor changes,'" adding, "A congressional investigation revealed that luxury facilities such as upscale restaurants, marble finishes, and rooftop gardens were included." She also pointed out that Powell's claim, via official documents, that the changes were 'measures to simplify construction and prevent delays' conflicted with the actual materials submitted by the Fed. Luna emphasized that all these statements constitute perjury, which can carry a sentence of up to five years in prison. This complaint comes as pressure mounts within conservative circles to remove Powell from his position before the end of his term. Meanwhile, Powell has denied all allegations and has officially requested an audit of the Eccles building renovation costs. The Fed is currently providing a video explanation and summary of the project on its website.

The three major U.S. stock market indices are showing an upward trend. As of 00:17 on the 22nd, the Nasdaq Composite Index is trading at 21,049.52 points, down 0.05% from the previous session. The Dow Jones Index is up 0.45% at 44,542.55 points, and the S&P 500 Index is also up 0.56% at 6,332 points.

The three major U.S. stock indexes ended the session with mixed results. On the 19th, the Nasdaq Composite Index closed at 20,895.66 points, up 0.05% from the previous day. The Dow Jones Index fell 0.32% to 44,342.19 points, while the S&P 500 Index declined 0.01% to end at 6,296.63 points.

According to Blockworks, a virtual asset (cryptocurrency) specialized media outlet, on the 18th (local time), Donald Trump, President of the United States, signed the stablecoin regulation law 'GENIUS Act'. This bill establishes qualification requirements for stablecoin issuers and stipulates that reserves must be maintained at a 1:1 ratio in United States Dollar or other equivalent liquid assets. In addition, the Bank Secrecy Act also applies to stablecoin issuers.

According to foreign media reports on the 18th (local time), President Donald Trump of the United States has once again strongly opposed the introduction of Central Bank Digital Currencies (CBDC) and reaffirmed his intention to create a permanent legal ban on CBDCs. On this day, President Trump stated, "I have already signed an executive order prohibiting the issuance of CBDCs," adding, "I will soon legislate this into law to establish a permanent ban." He also mentioned the soon-to-be-signed stablecoin regulatory law, the GENIUS Act, emphasizing, "I will maintain the status of the United States Dollar as the world’s key reserve currency."

According to The Block, a media outlet specializing in digital assets (cryptocurrencies), on the 18th (local time), JP Morgan stated in a recent report that "financial regulatory authorities in several countries outside the United States are showing a more favorable attitude toward 'tokenized bank deposits' than stablecoins." According to the outlet, tokenized deposits, which are issued based on bank deposits, are settled at face value in inter-account transactions, and a major advantage is that there is less risk of trading below face value in the market compared to stablecoins. JP Morgan analysts explained, "From a regulatory perspective, tokenized deposits are more easily integrated into the existing banking system," and added, "Risk management is also easier, so financial authorities in several countries are evaluating them more positively."

According to Eleanor Terrett, host of Crypto in America, on the 18th (local time), the United States Senate Committee on Agriculture is scheduled to hold a confirmation vote for Brian Quintenz, the nominee for Chair of the Commodity Futures Trading Commission (CFTC), on the 21st (local time). This vote is a follow-up step after last month's confirmation hearing and is regarded as a major personnel decision that could impact the regulatory landscape of virtual assets (cryptocurrencies). Quintenz is known within the CFTC for his crypto-friendly stance, drawing significant attention regarding the future direction of policy.

On the 18th (local time), the Financial Times (FT), citing three sources, reported that U.S. President Donald Trump is demanding that the European Union (EU) agree, in trade negotiations, to impose tariffs of at least 15~20% on all EU products. President Trump is reportedly dissatisfied with the previously discussed basic tariff plan of about 10% on most products, and has raised his tariff demand to test the EU's limits of patience. Furthermore, despite the EU's proposal to reduce car tariffs, Trump did not respond and is said to be willing to maintain the existing plan of a 25% tariff in the automotive sector.

According to virtual asset (cryptocurrency) specialist media Watcher Guru on the 18th (local time), Paul Atkins, a U.S. Securities and Exchange Commission (SEC) Chairman, stated that "the passage of the GENIUS Act represents important progress for the virtual asset industry." He emphasized, "This bill presents clear rules for the stablecoin market and lays the foundation for responsible innovation," and added, "It is a significant measure for the virtual asset industry to mature further and to gain market trust."

Bo Hines, Chair of the White House Presidential Virtual Assets (Cryptocurrency) Advisory Committee, announced on June 18 (local time) via his X (formerly Twitter) that "this afternoon, President Trump is expected to sign the most monumental virtual asset bill in history, the 'GENIUS Act.'" He emphasized that through this signing, "the United States will strengthen its global dollar dominance, lead innovation, and lay the foundation to permanently control the future of digital finance." The GENIUS Act focuses on establishing regulations and a supervisory framework for stablecoin issuance, and is considered one of the Trump administration's key digital asset policies.

The three major U.S. stock indices are showing a downward trend. As of 00:16 on the 19th, the Nasdaq Composite Index is trading at 20,875.76 points, down 0.05% from the previous day. The Dow Jones Industrial Average is down 0.32% at 44,343.64 points, and the S&P 500 Index is at 6,295.32 points, down 0.03%.

According to Watcher Guru, a crypto-focused media outlet, the United States House of Representatives has passed a bill prohibiting the Central Bank Digital Currency (CBDC). This bill prohibits the Federal Reserve (Fed) from directly offering certain products or services, considered core elements of a CBDC, to U.S. citizens. With this vote, all three major bills that comprehensively address the digital asset industry—the stablecoin regulation bill 'GENIUS Act,' the digital asset market structure bill 'CLARITY Act,' and the CBDC prohibition bill—have passed the House. These bills now await only President Donald Trump's final signature.

On the 17th (local time), Eleanor Terrett, host of Crypto in America, reported via her X (formerly Twitter) account that the U.S. House of Representatives passed the stablecoin regulatory bill, the 'GENIUS Act.' The GENIUS Act establishes a clear regulatory framework for the issuance and distribution of stablecoins. Key details include specifying the types of institutions authorized to issue stablecoins and requiring that reserves be maintained at a 1:1 ratio with U.S. dollars or equivalent highly liquid assets. Additionally, the scope of the Bank Secrecy Act has been extended to include stablecoin issuers, reflecting an aim to strengthen anti-money laundering efforts and consumer protection. The passage of this bill is significant as it marks the U.S.'s first substantial step toward regulatory clarity and institutionalization in the stablecoin market.

The three major U.S. stock indices closed higher. On the 18th, the Nasdaq Composite Index rose 0.74% from the previous day to 20,884.27 points. The Dow Jones Index gained 0.52% to finish at 44,485.10 points, and the S&P 500 Index ended up 0.59% at 6,300.42 points.