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Section 423 of the Intelligence Authorization Act could limit transactions for major DeFi protocols and stablecoins if they facilitate prohibited transactions.
Binance and other companies do not oppose certification of the case under the UK's collective proceedings regime, which will bring the case to trial.
Meanwhile, SEC Commissioner Mark Uyeda has called for SAB 121 to be withdrawn.
Market stability is disguised by brief funding rate spikes and drops across exchanges.
The Biden administration said the resolution would have hampered the SEC's ability to set guardrails and address issues.
The lawmakers called on President Biden to either sign the resolution into law or collaborate with the SEC to revoke the guidance.
Coinbase filed its closing brief on May 31, slamming the SEC for its refusal to provide regulatory clarity for the digital asset industry.
The transaction follows an equivalent donation from Ripple.
The fund could gain approval and launch in the coming weeks.
Lummis, a vocal advocate for pro-crypto legislation, believes that recent victories in Congress signal a promising future for the sector.
The leading candidates for the position, Joe Biden and Donald Trump, have been making several advances towards crypto users recently.
Solana navigates the tightrope between cutting-edge speed and systemic vulnerabilities.
The court ruled that crypto influencer Ian Balina violated securities laws by offering and selling the SPRK token, which was deemed a security under the Howey test.
The judge ruled that "a court, not an arbitrator," must decide whether one of Coinbase's agreements supersedes the other.
The bill aims to prevent unelected officials from developing a CBDC that could infringe on Americans' financial privacy.
Industry experts, including Bernstein, believe Ethereum securing spot ETF approval will pave the path for Solana ETFs and commodity classification.
The Senate must vote on the bill at a later date.
The SEC is due to approve or reject the firm's ETF application on May 23.
The FIT 21 Act has gathered enormous support from the crypto community and among US lawmakers.
Crypto has become a pivotal topic in the lead-up to the November elections and the political landscape seems to be softening its stance toward the industry.
