Cryptocurrency Live News & Updates : Greene Criticizes GENIUS Act as Government Control Tool
Representative Marjorie Taylor Greene has denounced the GENIUS Act, claiming it paves the way for a central bank digital currency and government control over financial transactions. In a recent legislative session, Representative Marjorie Taylor Greene voiced strong opposition to the GENIUS Act, labeling it a potential gateway to government-controlled digital currency. She expressed concerns that the bill could lead to a cashless society where authorities could manipulate citizens' financial freedoms. Greene voted against the GENIUS Act but supported the Anti-CBDC Surveillance State Act, which aims to prevent the Federal Reserve from issuing Central Bank Digital Currencies. She also backed the Clarity Act, emphasizing the importance of self-custody protections in cryptocurrency. Greene's remarks echo a broader skepticism among lawmakers regarding the implications of digital currency regulation, reminiscent of historical shifts like the abandonment of the gold standard. Former State Representative Tim Cahill echoed Greene's sentiments, warning that cashless payment systems could lead to increased surveillance and fees. As Congress navigates the complexities of cryptocurrency legislation, the American public remains largely unaware of the potential ramifications of these bills, highlighting a critical need for transparency and education in the evolving digital currency landscape. Show more
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Economic Times
11 minutes ago
- Economic Times
SIR 'institutionalised chori'; EC colluding with BJP to carry out 'vote theft': Rahul Gandhi
Describing the Special Intensive Revision of electoral rolls as an "institutionalised chori", Congress leader Rahul Gandhi on Friday claimed that the Election Commission is "openly colluding" with the BJP to carry out this "theft" with the objective of taking away the voting rights of the poor. Gandhi made the charge in a video released on his YouTube channel in which he also claimed that SIR has been brought in Bihar because the EC knows that "we have caught their chori". He alleges that the Election Commission (EC) and the BJP are "colluding" to "steal elections". A day after he held a press conference in which he pointed to a "vote chori" model being allegedly used in various constituencies across the country, Gandhi released the video explaining the investigation done by the Congress and what the analysis of data of an assembly segment in Karnataka from the 2024 Lok Sabha polls suggests. Citing the probe, Gandhi goes on to repeat his claims in the video that over 1 lakh votes were "stolen" through five types of manipulation in the assembly segment of Mahadevapura in Karnataka's Bangalore Central Lok Sabha seat. He says that 1,00,250 votes were stolen in the Mahadevapura assembly segment in the 2024 Lok Sabha polls."I am confident that there are more than 100 such seats in India. What has happened here has happened in those seats as well," Gandhi says. "If the BJP had 10-15 seats less, Modi would not have been the prime minister and there would have been an INDIA bloc government," he says in the video and goes on to talk about the five types of 'vote chori' found in the Mahadevapura assembly segment. Gandhi claims there was a theft of 1,00,250 votes in the Mahadevapura segment, with 11,965 duplicate voters, 40,009 with fake and invalid addresses, 10,452 bulk voters or single-address voters, 4,132 voters with invalid photos and 33,692 voters misusing Form 6 of new voters. He goes on to describe each form of manipulation with examples on the screen. Under the 'duplicate voter' header, Gandhi claims that 11,965 such voters were found in the Mahadevapura segment. He cites that Gurkeerat Singh Dang appeared on the voters' list four times at as four different booths. The former Congress chief also cites the example of another person being registered as a voter in different states. Gandhi claims that there were 40,009 voters with fake and invalid addresses, showing on screen how several people in the Mahadevapura segment were registered with 'House Number 0'. Under the header of bulk voters or single address voters, there were 10,452 voters in Mahadevapura, Gandhi says and cites that 'House number 35' having 80 registered voters. He further claims that there were 4,132 voters with invalid photos and 33,692 voters who misused Form 6, meant for first-time voters. Under this header, Gandhi cites the example of one Shakun Rani, a 70-year-old woman registered twice in two months. "The truth is that in India, the EC and the BJP are colluding to steal elections. The entire evidence is before everyone in black and white," Gandhi says. "They know that we have caught their 'chori' and that is why SIR (Special Intensive Revision) has come. SIR is an institutionalised chori. EC is openly colluding with the BJP to carry out this theft. SIR's objective is to take away the voting rights of the poor," he further charged. "In this investigation we have looked only at voter addition. But probably the number of voter deletions is much more than voter additions," he adds. "We have caught just one method, we have not probed other methods. I am telling the EC and its officials clearly that what you are doing is not right. This is treason against the country," Gandhi says, reiterating his warning to the officials. "Time will come, we will catch you and you will not be spared. It is critical that we expose voter chori," Gandhi asserts. Pointing out that he was born into a political family, Gandhi recalls in the video that when he was small, in 1980, he along with his sister Priyanka (Gandhi) used to go out at night and stick posters for campaigning. "I understand elections and have been fighting polls myself for the last 20 years. How polling happens, how polling booths are managed, voters list, form 17, I understand all this. Some time back we felt something was fishy," Gandhi says. "Election results would be contrary to the mood. I remember in Uttarakhand, we lost the polls. I asked the candidate to go and find out how many votes we got where a road show was held. Thousands of people came for the road show but none voted in the polling booths. This was impossible, it cannot happen. Then came the results of Chhattisgarh and Madhya Pradesh and we realised that there is something wrong," he says. Gandhi talks about Madhya Pradesh where the party won 2018. He says the Congress government was stolen later and during the Bharat Jodo Yatra, he felt tremendous anti-incumbency against the BJP rule. "But in 2023, we only got 65 seats. This is impossible. Then came Maharashtra and we got our evidence for the first time. New voters emerged through magic between the Lok Sabha and assembly polls. Wherever these new voters voted their vote went to the BJP," he claims. "When we had doubts we did a press conference along with our alliance partner leaders. We asked EC to give us the voter list and video recording. They neither gave us the voter list nor the video recording which raised doubts. It raised the question in our mind as to whether the EC is helping the BJP. Is the EC indulging in stealing elections? We set up a team and asked them to find out the truth," Gandhi says in the video. He points out that EC does not give digital data but physical data which means lakhs of papers have to be examined physically. The reason EC does not give digital data is that if it does so, its reality would be out, Gandhi claims. Tagging his video on X, Gandhi said, "Vote theft is not just an election scam, it is a big fraud committed against the Constitution and democracy." "Criminals of the country should listen - times will change, punishment will definitely be given," he on Thursday made explosive claims of a "huge criminal fraud" in polls through collusion between the BJP and the EC, as he cited an analysis in a constituency in Karnataka and said it was "a crime against the Constitution". The Chief Electoral Officer of Karnataka on Thursday asked Gandhi to share the names of electors he claimed were either included or excluded wrongfully from the voters' list of the state along with a signed declaration for the poll authorities to initiate "necessary proceedings".
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First Post
11 minutes ago
- First Post
5 ways India may counter Trump tariffs as trade tensions flare up
As US President Donald Trump continues with his tariff tirade against India, here are five ways New Delhi can navigate through the rough waters. read more President Donald Trump and Prime Minister Narendra Modi shake hands during a news conference in the East Room of the White House. AP Ties between the United States and India soured after US President Donald Trump announced nearly 50 per cent tariffs on India, replacing China with New Delhi as the prime target. The Trump administration argued that the move was undertaken because of India's continued purchase of Russian oil amid the war in Ukraine. However, in response to the Tariffs, India called out the duplicity of standards of both the West and the US in particular, since they continue to trade with Russia despite the war. India also pointed out that China purchases more oil from Russia than India, yet the Trump administration failed to take a similar stance on the matter. STORY CONTINUES BELOW THIS AD While the impact of the tariffs would not be immediate for the Indian consumers as much as it would be for American consumers, it would still be significant. The tariffs would cause immense pressure on Indian exporters, with their American buyers looking for alternatives due to the price hike. If India's manufacturing sector is impacted, it would automatically lead to a rise in unemployment and a decline in purchasing power. As India continues to deal with the wrath of Donald Trump, here are the five steps it can undertake to navigate the rough waters with the Trump administration. 5 ways India may counter Trump tariffs Lobby with Indian-origin Congresspersons and top corporate bosses for their interests When Trump increased tariffs on China, American businessmen like Jensen Huang, Bill Gates and Elon Musk all came out in China's favour. Something like this rarely happens for India. Hence, New Delhi should lobby with half a dozen Indian-origin Congressmen and scores of CEOs in business groups, including Microsoft, Google and Adobe, to put forward its case. Look for an integrated BRICS effort against Trump tariffs Trump's wrath against BRICS, a group of nations initially comprised of Brazil, Russia, India, China and South Africa, has been apparent from the time he returned to the White House. The Republican firebrand is expecially sceptical towards the prospect of the group pursuing 'De-Dollarisation'. While Russia is already facing American sanctions, just like India, Trump imposed high sanctions on Brazil and China as well. Hence, India can join hands with fellow BRICS nations to come up with a plan to resist Trump's tariff policies. In light of this, Brazil's President Lula da Silva has already called for a meeting on the issue. Not only this, Prime Minister Narendra Modi is expected to discuss the matter at the Tianjin SCO summit when he visits China at the end of this month. Phase out Russian oil consumption Apart from this, India also needs to consider whether it can bite the bullet and offer a headline-grabbing deal for a phased reduction in the purchase of Russian oil. Although his change would impact the global oil prices. Give Trump some concessions Apart from this, they can also give concessions on premium agricultural products. However, that would have a significant impact on the Indian farmers, an option which India might not incline towards. Prime Minister Narendra Modi has already maintained that India will 'never compromise on the interests of farmers… even though we will have to pay a heavy price for it', effectively rejecting Washington's desire for Indian purchase of US agricultural products. STORY CONTINUES BELOW THIS AD Retaliation Just like China, India can also hit back with retaliatory tariffs. However, India does not have the same kind of leverage in American markets as China does. For example, China has a strong hold of rare-earth, which is something that the American defence sector needs. Hence, it will be interesting to see how India would tackle this issue.
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First Post
11 minutes ago
- First Post
Indian exporters work out 3-way deal with US buyers to beat Trump tariffs, expedite consignments
Indian exporters and their American partners have worked out a three-way arrangement to distribute the burden of US President Donald Trump's tariffs between Indian exporters, American importers, and American customers. But Indian exporters fear that even such an arrangement may not save them from 50% tariffs. read more Textiles and clothing, gems and jewellery, shrimp, leather and footwear, chemicals and electrical and mechanical machinery would be most affected. Reuters Several Indian exporters have worked out a three-way deal with their American partners to tackle 50 per cent tariffs imposed by US President Donald Trump. Under the deal, Indian exporters and their American partners are splitting the burden of tariffs in three equal halves, according to The Times of India. The arrangement, which began when Trump imposed the 10 per cent tariff in April, means that the Indian exporter will provide a discount amounting to one-third of the total increased cost of tariffs (7-8 per cent in case of 25 per cent tariffs), the American importer will cut its margin by the same percentage, and the rest of the increased cost will be passed on to customers, as per the newspaper. STORY CONTINUES BELOW THIS AD ALSO READ: Trump's 50% tariffs could drag Indian GDP growth below 6% — here's what analysts say Trump on July 31 imposed 25 per cent tariff on India when he announced country-specific tariffs for more than 60 countries. He topped that with 25 per cent additional tariff on Wednesday for India's purchase of Russian oil, taking total tariffs to 50 per cent. They are also frontloading exports and dispatching consignments before the kick-in of tariffs. Even 3-way burden-sharing may not save exports from 50% tariffs: Exporters Exporters are concerned that even the three-way split of tariffs' burden may not save themselves once 50 per cent tariffs kick in as some export-oriented, labour-intensive sectors like textiles run on low margins and tariffs will squeeze their margins further. They said that 25 per cent could be tolerated but 50 per cent could cripple them. The 25 per cent additional tariff —taking overall tariffs on India to 50 per cent— will kick in on August 27. For goods shipped before that date, the previous tariff rates will apply till Sept. 27. Apparel Export Promotion Council (APEC) Chairman Sudhir Sekhri told ToI that 50 per cent tariffs are a 'huge setback' to the labour-intensive apparel export industry. 'There is no way industry can absorb this. I am sure the government also realises that this unreasonable increase in tariff will sound the death knell for the micro and medium apparel industry, especially those who majorly sell to the US market, unless govt steps in with direct fiscal support to the industry,' said Sekhri. Separately, Tirupur Exporters' Association President Raja M Shanmugam sought an intervention from the government and argued that it is now no longer feasible to export to the United States due to the low margins. For gems and jewellery too, the prognosis is not good, with companies predicting a steep fall in exports and bankers said that much of the exports are on credit and there is a risk of default, the newspaper reported. STORY CONTINUES BELOW THIS AD
