FameEX Morning Crypto News Recap | March 14, 2025
2025-03-14 08:35:55U.S. Senate Banking Committee Passes Financial Integrity and Regulatory Management Act
The U.S. Senate Banking Committee approved the Financial Integrity and Regulatory Management Act in a narrow 13–11 vote. Proposed by Senator Tim Scott, the bill aims to stop federal regulators from using reputational risk to oversee financial institutions, tackling crypto industry concerns about discriminatory “debanking” and regulatory overreach.
Mnuchin Minimizes Recession Fears, Urges Investors to Stay Calm Amid Market Shifts
On March 14, former Treasury Secretary Mnuchin dismissed recession concerns, attributing recent market volatility to adjustments from Trump’s trade policies. He advised investors to remain calm, expressing confidence that the economy won’t enter a recession. Though reduced government spending may slow growth slightly, he sees no cause for major alarm.
U.S. Senate Panel to Review GENIUS Act
Senator Cynthia Lummis stated that the Senate Banking Committee will soon hold a final review of the GENIUS Act, introduced by Senator Hagerty. The legislation seeks to define payment stablecoins, establish clear regulatory procedures for issuers, and promote innovation while safeguarding consumers.
Trump Threatens 200% Tariff on EU Wine Imports
Trump called the EU a hostile institution on social media, accusing it of imposing unfair tariffs, including a 50% duty on U.S. whiskey. He warned that unless the EU lifts these tariffs, the U.S. will respond by imposing a 200% tariff on wine and champagne from France and other EU countries.
Over Half of Americans View Musk Negatively, Survey Reveals
A CNN and SSRS survey shows 53% of Americans now view Elon Musk negatively, with his approval falling since joining Trump’s government efficiency team. About 60% believe he lacks the expertise to reform government, and even 28% of Trump supporters doubt his judgment and ability to drive meaningful change.
Royal Bank of Canada Analysts Worry About U.S. Growth, Trade Tariff Risks
Analysts at RBC Capital Markets warned that while tariffs could cause long-term inflation, their uncertainty may reduce short-term demand, slow economic growth, and potentially trigger deflation, highlighting the complex economic impact of trade policies.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.