While a recession is rarely a good thing, Wood said it could provide Trump and the Federal Reserve with leeway to enact pro-growth policies. “We are worried about a recession” — Cathie WoodAlthough US Treasury Secretary Scott Bessent isn’t worried about a recession, Wood is certainly preparing for that possibility. Speaking virtually at the Digital Asset Summit in New York, Wood implied that the White House could be underestimating the recession risk facing the economy as a result of Trump’s latest tariff war. “We are worried about a recession,” Wood said.“We think the velocity of money is slowing down dramatically.”A slowdown in the velocity of money means capital is changing hands less frequently as consumers and businesses reduce spending.
The GENIUS Act seeks to establish clear guidelines for US stablecoin issuers, including collateralization requirements and compliance rules with Anti-Money Laundering laws. “I think our colleagues on the other side of the aisle also recognize the importance for US dominance in this space, and they’re willing to work with us here, and that’s what’s really exciting about this,” said Hines.
Source: CointelegraphUS stablecoin bill is “imminent” — Bo HinesThe US could have comprehensive stablecoin legislation in as little as two months, according to Bo Hines, the recently appointed executive director of Trump’s Presidential Council of Advisers on Digital Assets.
The story "Crypto Biz: As crypto booms, recession looms" has 738 words across 29 sentences, which will take approximately 4 - 7 minutes for the average person to read.
Which news outlet covered this story?
The story "Crypto Biz: As crypto booms, recession looms" was covered 15 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 58 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
