Congress

Former New York Gov. Andrew Cuomo urged Congress to pass the CLARITY Act, arguing that clearer federal rules are needed for crypto firms and traditional financial institutions. He warned that leaving policy to regulators could create shifting standards as political control changes in Washington.

The U.S. Securities and Exchange Commission has issued a proposed rule known as Regulation Crypto Assets, setting out exemptions for certain crypto offerings. The proposal opens a 60-day public comment period and arrives as Congress continues work on broader digital asset market structure legislation.

Microsoft’s strong outlook and renewed confidence in artificial intelligence spending helped lift Wall Street, supporting weekly gains in the S&P 500 and Dow Jones. Yet tariff uncertainty, elevated Treasury yield risks and stretched valuation indicators may keep the path higher uneven.

EUR/USD is showing its first meaningful higher low in some time as impulsive buying challenges the recent bearish tone. Softer US CPI has weakened the US Dollar, but resistance between 1.1463 and 1.1500 remains the key test for bulls.

A bipartisan U.S. housing-affordability bill is set to become law at midnight, bringing with it a temporary restriction on a Federal Reserve central bank digital currency. The provision blocks a U.S. digital dollar for four years, even as the central bank had not been moving toward issuing one.

The White House says the administration is still evaluating how to structure a federal Strategic Bitcoin Reserve and a separate U.S. Digital Asset Stockpile. The effort remains dependent on unresolved agency decisions and potential congressional backing.

The Alliance to End Human Trafficking is urging Congress to revisit Section 604 of the CLARITY Act, saying the language could make it harder to hold some crypto platform developers accountable when their tools are used in trafficking-related payments. Supporters of the provision counter that it simply reflects existing U.S. anti-money laundering guidance and does not block criminal prosecutions.

A sweltering week in New York matched the temperature in Washington as lawmakers and regulators pushed ahead on crypto tax rules and prediction market oversight. Court developments, including a rejected Sam Bankman-Fried appeal, added to the fast-moving policy backdrop.