JPMorgan Says Yes to Bitcoin 🚀 + Senate Moves on Crypto Bill

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Hey crypto trailblazer, 👋

The crypto landscape is buzzing: the U.S. Senate advances a major crypto regulation bill, JPMorgan Chase opens its doors to Bitcoin trading, and Justin Sun makes headlines as the top holder of Trump's memecoin.

Let's dive into the details:

🏛️ Senate Advances GENIUS Act:

On May 19, the U.S. Senate voted 66-32 to advance the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This bipartisan legislation aims to establish a federal regulatory framework for stablecoins, requiring issuers to maintain 1:1 reserves and adhere to anti-money laundering standards.

The bill also seeks to prevent Big Tech firms from issuing their own stablecoins without proper oversight.

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🐋Justin Sun Revealed as Top Holder of Trump's Memecoin

Crypto entrepreneur Justin Sun disclosed that he is the largest holder of the $TRUMP memecoin, possessing approximately $19 million worth of the token. This revelation comes ahead of a gala dinner hosted by President Trump for the top 220 holders of the coin, with Sun among the exclusive top 25 invited to a private reception.

The $TRUMP memecoin has been a subject of controversy due to its association with the Trump Organization and concerns over potential conflicts of interest. Sun's involvement further highlights the intersection of cryptocurrency and political influence in this era.

🏦 JPMorgan Chase Embraces Bitcoin Trading for Clients

JPMorgan Chase CEO Jamie Dimon announced that the bank will now allow clients to purchase Bitcoin.

Despite his personal skepticism, Dimon acknowledged the growing demand among clients for digital assets. While JPMorgan will not provide custody services, it will include Bitcoin holdings in client statements.

This move aligns JPMorgan with other major financial institutions that have begun integrating cryptocurrency offerings into their services.

We feel the bullish momentum has returned and it’s only a matter of time until alts join the action.

Epic Crypto News Team

DISCLAIMER: This newsletter is for educational purposes only. Nothing here is financial advice. Do your own research before making any investment decisions. Crypto markets are volatile and risky. Only invest what you can afford to lose.

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