News

Odaily reported that Cointelegraph posted on X stating that the Governor of South Carolina has signed Bill S.163. This bill protects the right to self-custody Bitcoin, prohibits discriminatory taxation on Bitcoin, and safeguards the right to Proof-of-Work mining in the state.

BlockBeats News, May 20th, according to Barchart citing data from the Korea Financial Investment Association, the leverage amount (margin loans) in the South Korean stock market has surged to around 35 trillion Korean won, reaching a historical high, indicating extremely aggressive positions held by traders in the country.

BlockBeats News, May 20th - Last week, the long-awaited CLARITY Act officially passed the U.S. Senate Banking Committee's review, taking a solid step towards enactment. Earlier this week, Patrick Witt, a key digital asset advisor to Trump, revealed that the "U.S. Bitcoin Strategic Reserve Announcement is expected to be made in the coming weeks." Additionally, there was news of the SEC considering introducing an "Innovation Exemption" for tokenized stocks, and today, President Trump signed a crypto-friendly executive order, showcasing the Trump administration's recent favorable stance on crypto. BlockBeats believes that Trump's main motivation may stem from the pressure of the U.S. midterm elections. Given the historical trend of the president's party performing poorly in midterm elections, current predictions suggest that Democrats may regain the House while Republicans only hold onto the Senate. Therefore, Trump urgently needs to attract young, tech-savvy, and libertarian voters through a series of positive initiatives, aligning with the narrative of "U.S. Innovation Leadership." At the same time, crypto lobbying groups (such as Fairshake) have become major donors behind Trump, and Trump also needs to fulfill his pre-election crypto-friendly promises to secure more donations.