Latest news with #CouncilofAdvisersonDigitalAssets
Business Recorder
02-08-2025
- Business
- Business Recorder
Pakistan, US deepen ties on crypto collaboration
ISLAMABAD: Pakistan and the United States deepen ties on crypto collaboration following landmark trade agreement, a statement issued from office of the Special Assistant to Prime Minister/Minister of State on Blockchain and Crypto. As Pakistan and the United States close one chapter of economic diplomacy with the successful conclusion of historic trade talks, a new one begins — this time in the digital realm. The 31st July's high-level meeting between Bilal Bin Saqib, Pakistan's Minister of State for Crypto and Blockchain, and Bo Hines, executive director of President Trump's Council of Advisers on Digital Assets, marked a bold new direction in US–Pakistan relations. The discussion centered on the global coordination of crypto policy and Pakistan's ambitious plans to become a regional hub for Web3 innovation. This engagement came a day after the United States unveiled its long-awaited Digital Asset Framework, a landmark blueprint for global digital asset regulation. The alignment sends a strong signal: Pakistan and the US are no longer just trading partners. They are exploring now on how they can collaborate on crypto legislation. This latest dialogue follows Bilal Bin Saqib's landmark visit to the United States in June, where he held extensive meetings with top US lawmakers, including senators Cynthia Lummis, Tim Sheehy, and Rick Scott, as well as New York City Mayor Eric Adams and Bo Hines himself. Copyright Business Recorder, 2025
The Hill
26-06-2025
- Business
- The Hill
White House, senators eye September deadline for crypto framework
A White House adviser and two key senators said Thursday they are now hoping to pass legislation laying out oversight of the crypto industry by the end of September, pushing back an earlier August deadline. Senate Banking Chair Tim Scott (R-S.C.) offered up the new timeline for market structure legislation at a fireside chat alongside Sen. Cynthia Lummis (R-Wyo.) and Bo Hines, executive director of President Trump's Council of Advisers on Digital Assets. 'I want to set a timeline … of seeing the market structure completed before the end of September,' Scott said Thursday. 'I think that is a realistic expectation.' Lummis, who serves as chair of the Senate Banking subcommittee on digital assets, seemed prepared to meet the new deadline, saying they hope to put out draft legislation before Congress leaves for its August recess and hold a markup in September. Hines also confirmed the timeline, adding in a post on X, 'As stated today, we are committed to getting market structure done by the end of September. Period.' The Trump administration and GOP leaders had previously been aiming to pass both market structure and stablecoin legislation before the August recess. The market structure legislation seeks to split up oversight of the digital asset market between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), while stablecoin legislation aims to create a regulatory framework for the dollar-backed cryptocurrencies. After the Senate passed its stablecoin bill, known as the GENIUS Act, last week, Trump urged the House to quickly send the measure to his desk without major changes. However, his push runs counter to an effort by some in the industry and Congress, who hoped to tie the stablecoin and market structure bills together amid concerns that a second lone crypto bill could lose momentum. 'I've been very clear that I think the president's mandate of moving GENIUS Act immediately to his desk is in the best interest of the American people,' Scott said Thursday. 'What they're concerned about is not getting market structure done fast enough,' he added. 'And I believe that we can do both in a very time-sensitive manner, and that is why I've committed to a deadline that will be reached.'
Yahoo
13-06-2025
- Business
- Yahoo
These 3 Catalysts Could Bump Bitcoin to $125,000 by the End of Summer
After hitting a price of nearly $112,000 in May, Bitcoin has struggled to gain any new momentum. The White House is scheduled to finalize plans for the Strategic Bitcoin Reserve this summer. If the Federal Reserve cuts interest rates this summer, it could lead to a rally in Bitcoin. 10 stocks we like better than Bitcoin › Ever since hitting a new all-time high of $111,970 on May 22, Bitcoin (CRYPTO: BTC) has struggled to find any upward momentum. In fact, over the past two weeks, Bitcoin has shown signs of dropping below the $100,000 level. The good news is that three big catalysts are emerging that could push Bitcoin higher within the next three months. If so, Bitcoin could hit a new all-time high above $125,000 before the end of summer. The first catalyst is new legislation for the U.S. Strategic Bitcoin Reserve. Yes, an executive order already exists for the creation of the Strategic Bitcoin Reserve, but there is no legislation actually defining how it will work and function. The White House executive order in March specifically said that any future Bitcoin purchases must be "budget-neutral" with no direct impact on taxpayers. The new legislation is expected to outline a clear mechanism for how this would work. The big deadline to keep an eye on is July 22. That's when the Trump administration is scheduled to unveil the final architecture of its Strategic Bitcoin Reserve. According to Bo Hines, executive director of the White House President's Council of Advisers on Digital Assets, a "reserve framework" already exists and is already circulating among different inter-agency working groups. So, it really looks to be a case of when, and not if, new legislation for the Strategic Bitcoin Reserve will finally be voted on by members of Congress. If the Strategic Bitcoin Reserve is able to garner true bipartisan support, that's when Bitcoin could start to rally hard. One of the big stories of the year in the crypto industry has been the emergence of new companies that are following the Bitcoin Treasury Company (BTC) model. These companies do nothing but buy Bitcoin, and some of them have already amassed massive war chests to do just that. In addition, several high-profile companies within the tech industry are starting to consider adding Bitcoin to their balance sheets as a Treasury asset. In just the past six months, two major tech companies -- Microsoft (NASDAQ: MSFT) and Meta (NASDAQ: META) -- have voted on shareholder proposals asking them to add Bitcoin to their balance sheets. While both voted "no" on these proposals, it's easy to see how the dam is starting to break. One by one, smaller companies are starting to embrace Bitcoin. The latest example is Trump Media & Technology Group (NASDAQ: DJT), which recently raised over $2 billion to buy Bitcoin. All it takes is one high-profile company to embrace Bitcoin as a Treasury asset, and it might set off a domino effect within corporate America. And, finally, there's the matter of the Federal Reserve and a potential interest rate cut coming soon. Starting in April, President Donald Trump has been calling for the Fed to lower rates, even going so far as to suggest he might be willing to replace Fed Chairman Jerome Powell if he does not acquiesce. In early June, President Trump ramped up his call for a rate cut, saying that one is needed immediately. He's now demanding "a full point" from the Fed. As he noted in a social media post, this would be "rocket fuel" for the economy, making it easier for people to borrow money. It would also be "rocket fuel" for the crypto market. Historically, rate cuts by the Fed have led to the infusion of cheap, fast money into crypto. The best example is from the pandemic era, when the Fed lowered rates by a full point in March 2020. That coincided with Bitcoin soaring to new all-time highs in the period from April 2020 to November 2021. On paper, all of these potential Bitcoin catalysts sound fantastic. But how likely are they? After all, if the Trump administration can't pass the Big Beautiful Bill, how will it ever be able to pass a Big Beautiful Bitcoin Bill? And Fed rate cuts are no slam-dunk, either. As long as the economy is at risk of higher inflation from new tariffs, the Fed will likely be unwilling to reduce rates. That's why some traders are warning of a "bull trap" for Bitcoin. In other words, investors might be cajoled into investing in Bitcoin due to rampant hype, buzz, and speculation. It will look like Bitcoin has no place to go but up. As soon as enough of these investors put their money into Bitcoin, the trap will close. The price of Bitcoin will sink, and these investors will lose their money. So, if you're thinking about investing in Bitcoin, make sure you are doing so because you believe in its long-term outlook. If you are trying to time the market over the short term, you are likely doing it all wrong. The good news is that online prediction markets currently give Bitcoin a 62% chance of hitting $125,000 before the end of the year. If the U.S. government goes all-in on its Strategic Bitcoin Reserve, and if Corporate America continues to embrace crypto, it's possible that Bitcoin might reach that target by the end of the summer. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,871!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $875,479!* Now, it's worth noting Stock Advisor's total average return is 998% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. These 3 Catalysts Could Bump Bitcoin to $125,000 by the End of Summer was originally published by The Motley Fool Sign in to access your portfolio
Express Tribune
07-06-2025
- Business
- Express Tribune
Pakistan aims to lead in digital assets race
Listen to article Pakistan's Minister of State for Crypto and Blockchain Bilal Bin Saqib met with top US officials and lawmakers this week in Washington DC to strengthen cooperation in digital assets, blockchain regulation and financial innovation. The minister held discussions with Senator Cynthia Lummis, a key architect of US crypto legislation, along with Senators Bill Hagerty, Rick Scott, Tim Sheehy and Jim Justice, all known advocates for blockchain innovation. He also engaged in deliberations with members of the House Financial Services Committee and White House advisers, according to a news release issued on Friday. "Pakistan is not waiting to catch up; we are here to lead," Bilal remarked. "From Capitol Hill to the White House, I shared a new face of Pakistan: one driven by youth, innovation and global partnerships." The talks focused on Pakistan's recent initiatives, including plans for the Strategic Bitcoin Reserve, a virtual asset regulatory framework and stablecoin adoption to streamline remittances. With $36 billion in annual remittances and a booming freelance sector, Pakistan aims to become a hub for responsible digital finance. "We came to learn, listen and contribute," Bilal added. "Our goal is to adopt the best global ideas for Pakistan's unique needs." The crypto minister's visit signals Pakistan's push to shape the digital economy alongside major players, leveraging its young population and tech potential. In a meeting with US President Donald Trump's Council of Advisers on Digital Assets Executive Director Robert Bo Hines at the White House earlier this week, the state minister discussed the strategic alignment of digital assets, bitcoin integration and the future of decentralised infrastructure. Both sides expressed shared interest in fostering collaboration between the US and Pakistan on digital asset innovation, regulatory coherence and emerging financial technologies. They also deliberated on ways to support innovation ecosystems that empower youth and accelerate economic inclusion through blockchain. Bo Hines leads policy development on digital asset innovation, regulation and emerging financial technologies.
Express Tribune
05-06-2025
- Business
- Express Tribune
Pakistan, US explore ways for digital asset innovation
Minister of State for Crypto, Blockchain and CEO of the Pakistan Crypto Council Bilal Bin Saqib Listen to article Minister of State for Crypto and Blockchain and Pakistan Crypto Council CEO Bilal Bin Saqib has met with US President Donald Trump's Council of Advisers on Digital Assets Executive Director Robert Bo Hines at the White House and discussed strategic alignment of digital assets, bitcoin integration and the future of decentralised infrastructure. During the meeting, both sides expressed shared interest in fostering collaboration between the US and Pakistan on digital asset innovation, regulatory coherence and emerging financial technologies, said a press release issued by the Ministry of Finance on Wednesday. They also deliberated on ways to support innovation ecosystems that empower youth and accelerate economic inclusion through blockchain. Bo Hines leads the national policy development on digital asset innovation, regulation and emerging financial technologies. The meeting comes following Pakistan's announcement of creating the Strategic Bitcoin Reserve at the Bitcoin 2025 Conference in Las Vegas, which positions the country as one of the first in Asia to incorporate bitcoin into its sovereign asset strategy. "I envision Pakistan to be a leader in the Global South for digital assets," Bilal Bin Saqib remarked. "From launching our Strategic Bitcoin Reserve to unlocking national infrastructure for crypto mining and AI data zones, Pakistan is building a real framework for digital asset adoption and economic modernisation." The minister of state also visited the White House counsel office. Pakistan's broader strategy includes allocating 2,000 megawatts of electricity for bitcoin mining and artificial intelligence-driven data zones with the aim of converting surplus energy into economic growth, job creation and digital infrastructure. As the global regulatory landscape evolves, Pakistan is taking clear, decisive steps to lead from the front, merging state policy, private innovation and international engagement to shape the next chapter of the global digital asset economy.
