The US Senate held its first vote on the Iran "war powers resolution," failing to pass a vote to halt Trump's strikes against Iran without congressional authorization. All votes have been counted.

Crypto infrastructure company Zerohash has filed an application with the Office of the Comptroller of the Currency (OCC) seeking a National Trust Bank license to expand its digital asset services capabilities. According to the filing, the trust bank plans to offer a range of digital asset-related services, including digital asset and fiat currency custody, escrow and verification services, transfer agency services, trade execution, stablecoin management, and settlement, clearing, and escrow services. Zerohash's Chief Legal Officer, Stephen Gardner, has been nominated as the trust bank's CEO. This application follows a similar regulatory path taken by several crypto companies. Previously, Ripple, Circle, and BitGo also applied to establish federally regulated trust banks and received conditional approval from the OCC last December. It should be noted that even with the license, Zerohash will not be able to conduct traditional banking activities, such as accepting deposits or making loans. However, the license will allow the company to operate under federal regulations, making it easier to attract institutional clients.

US banking groups have strongly opposed the Federal Reserve's approval of master account status for crypto firm Kraken Financial, arguing that this could allow crypto firms to directly access the Fed's payment system without the same regulatory safeguards as traditional banks. A master account is a crucial channel for financial institutions to access the Fed's clearing and payment network. This approval means Kraken Financial can directly use the US central bank's payment infrastructure. The Bank Policy Institute expressed "deep concern," noting that the decision appears to have been made before the Fed finalized its policy framework. Currently, the Fed is still studying regulatory rules for so-called "skinny master accounts," which are typically for financial institutions that do not engage in traditional deposit and loan businesses. The institute also criticized the lack of transparency in the approval process, stating that the public has no access to the approval process and related risk mitigation measures. Meanwhile, some crypto industry supporters believe this decision could open the door for more financial institutions focused on payment services but not traditional banking models, allowing them direct access to the core payment network of the US financial system.

Investment bank TD Cowen stated that while President Trump's recent call on social media for the banking and crypto industries to reach an agreement on the CLARITY Act (Clarity for Digital Asset Markets Act) is positive, it is insufficient to break the current legislative deadlock. Jaret Seiberg, Managing Director of TD Cowen's Washington Research Department, noted in a report that while Trump's frequent use of social media has limited practical impact on policy progress, individual posts require direct presidential involvement in negotiations between the banking and crypto industries to advance crypto market structure legislation. Seiberg believes that simply expressing positions through social media is unlikely to lead to a legislative breakthrough, and a real solution may require Trump to personally convene negotiations with all relevant parties. However, he also pointed out that given the current armed conflict between the US and Iran, the likelihood of Trump directly intervening in negotiations in the short term is low. Previously, Trump stated on Truth Social that the banking industry should reach a "reasonable agreement" with the crypto industry and should not oppose provisions allowing crypto platforms to offer yields to stablecoins, in order to push Congress to pass crypto market structure legislation as soon as possible. He also pointed out that the GENIUS Act, the stablecoin regulatory bill passed last year, is being "threatened and weakened" by the banking industry.

null source: https://x.com/BSCNews/status/2029327953033642253

Bloomberg posted on X that Scott Nuttall, Co-CEO of KKR, emphasized three critical areas for investors to concentrate on. Nuttall identified linear deployment as a significant focus, suggesting that investors should pay attention to this strategy. The discussion highlights the importance of adapting investment approaches to current market conditions. Investors are encouraged to consider these areas to optimize their strategies and navigate the evolving financial landscape effectively.

Bloomberg posted on X, highlighting the clarity emerging from investment decisions made over the past 5 to 10 years. As these choices mature, their outcomes are becoming increasingly evident, providing insights into their effectiveness and impact on financial markets. Investors are now able to assess the long-term viability and success of their strategies, reflecting on the foresight and planning involved in their initial decisions. This period of evaluation offers valuable lessons for future investment approaches, emphasizing the importance of strategic planning and patience in financial decision-making.

Canada has issued a travel advisory urging its citizens to avoid visiting several countries in the Middle East. According to Jin10, the advisory includes Bahrain, Iran, Iraq, Israel and Palestine, Kuwait, Lebanon, Qatar, Syria, the United Arab Emirates, and Yemen. The Canadian government cited security concerns as the primary reason for the advisory, emphasizing the potential risks associated with traveling to these regions. Travelers are advised to stay informed about the situation and consider alternative destinations.

null source: https://x.com/BSCNews/status/2029325845350023444

When an asset class becomes large and popular enough, its development is not solely supported by accounting strategies; the fundamental driving force behind it is always trust.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

Homogeneous industries are ultimately fragile; only when different species emerge can a market truly thrive.

During the Chinese New Year holiday, a discussion about the concept of "Web 4.0" sparked a heated debate on Twitter.

War can only tell you the truth; four "rules" are needed to help you seize opportunities, especially the fourth one.

US President Trump publicly named traditional banks, accusing them of trying to block the GENIUS Act and delay the CLARITY Act.

The crypto market is always the same: a "deep bear market" is causing a brutal shakeout. (Golden Finance) The cycles repeat themselves, and it's always the same.

Two weeks ago, Vitalik made a bet with a developer named Yaq: Could one person use AI programming tools to write the entire Ethereum 2030+ technology roadmap into code?

Australia’s regulator ASIC has granted AUDC Pty Ltd a full licence to operate the AUDD stablecoin, allowing banks and businesses to use it legally for digital transactions on the XRP Ledger and other blockchains. The stablecoin is fully backed by Australian dollars in trust accounts, making it an institutional-grade payment option with clear regulatory approval.

President Donald Trump fired off a Truth Social salvo Tuesday, accusing major banks of “threatening and undermining” the crypto revolution — and urging Congress to fast-track the CLARITY Act before U.S. digital assets get sidelined overseas.