ETH falls below the $2700 mark

BlockBeats news, on February 5th, according to Cointelegraph, Republican leaders of the US House and Senate committees announced the establishment of a working group focused on developing a digital asset framework and legislation for stablecoins. At a press conference on February 4th, Arkansas Congressman and Chairman of the U.S. House Financial Services Committee, French Hill, announced that lawmakers from four House and Senate committees will form a "cross house working group" to advance the legislative process for digital currency regulatory frameworks and stablecoins. The committees participating in this group include the House Financial Services Committee, the House Agriculture Committee, the Senate Banking Committee, and the Senate Agriculture Committee.

1. Trump's encryption policy may disrupt payment networks 2. Tether issues 1 billion USDT on TRX chain 3. Trump's Crypto Tsar Considers Bitcoin Reserves 4. 1.07 billion USDC flowing into the exchange may indicate a bottom 5. SEC reduces cryptocurrency enforcement efforts 6. SEC launches encryption task force 7. US lawmakers draft encryption bill 8. Circle issues 250 million USDC in Solana The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/441250

Odaily Planet Daily News: The Trump administration has appointed Luke Pettit, assistant to Republican Senator Bill Hagerty, to a senior position in the US Treasury Department. According to a notice on Congress.gov, Pettit has been nominated as Assistant Secretary for Financial Institutions. Pettit will be responsible for the Treasury Department Office, which plays an important role in formulating policies for regulating banks, fintech companies (including digital asset companies), non bank mortgage lending institutions, and many other financial companies. This position requires Senate approval. For the past three years, Pettit has been serving as a senior policy advisor to Tennessee Republican Hagetti. According to his LinkedIn profile, prior to this, he was an economist for the Senate Banking Committee, having worked at Bridgewater Fund, the Monetary Affairs Department of the Federal Reserve Bank of Washington, and the Federal Reserve Bank of San Francisco. He will replace Graham Steele, who held the position during the Biden administration. Steele will leave the Ministry of Finance in January 2024. Ethan Fallang, a former member of Rumble Inc.'s board of directors and a prot é g é of Vice President JD Vance, has also been appointed to a senior position in the Office of Financial Institutions at the Ministry of Finance. According to insiders, Fallang is a popular candidate for the position of Deputy Assistant Minister of Capital Markets, and it is currently unclear whether he has accepted the position. (Bloomberg)

According to The Block, the newly established cryptocurrency working group of the US Securities and Exchange Commission (SEC) will undertake a series of priority tasks as the agency takes a different direction than in previous years. The working group, led by Republican commissioner Hester Peirce, will strive to distinguish which "crypto assets" belong to securities, potentially change the way companies are registered, and provide clear statements when approving or rejecting exchange traded products. Peirce outlined her task list in a statement on Tuesday, attaching a link to the cryptocurrency working group, while noting that the list is not exhaustive. Peirce stated that one of the priority tasks is to classify certain tokens as' non securities'. Peirce said, "The working group is still considering the possibility of recommending that the committee take action to provide temporary forward-looking and retrospective exemptions for certain token issuances, provided that the issuing entity or other entities willing to take responsibility provide certain specific information, keep the information updated, and agree not to question the committee's jurisdiction in cases involving asset buying and selling fraud." Peirce said, "We will work with other federal government departments, state securities regulatory agencies, and international peers to invite builders, enthusiasts, and skeptics to interact with us to jointly determine what the final rule should be and what temporary measures can be taken during this period to promote innovation Earlier today, the New York Times reported that the US SEC has reduced its enforcement efforts in the cryptocurrency field.

The current price of Binance ETH is $2702.22, a decrease of 6.09% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 24 hours was 401 million US dollars, with multiple orders being the main liquidation and ETH liquidation of 133 million US dollars (33.15%). The data is for reference only.