US House passes landmark crypto bills in win for Trump

US House passes landmark crypto bills in win for Trump
House legislators also easily passed the GENIUS Act. (Getty Images/AFP)
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Updated 17 July 2025

US House passes landmark crypto bills in win for Trump

US House passes landmark crypto bills in win for Trump
  • It will now head to the Senate, where Republicans hold a thin majority

WASHINGTON: The US House passed landmark cryptocurrency bills on Thursday, delivering on the Trump administration’s embrace of the once-controversial industry.
US lawmakers easily passed the CLARITY Act, which establishes a clearer regulatory framework for cryptocurrencies and other digital assets.
The bill is intended to clarify rules governing the industry and divides regulatory authority between the Securities and Exchange Commission  and the Commodity Futures Trading Commission .
It will now head to the Senate, where Republicans hold a thin majority.
House legislators also easily passed the GENIUS Act, which codifies the use of stablecoins — cryptocurrencies pegged to safe assets like the dollar. That bill was due to immediately go to Trump for his signature to become law.
The GENIUS Act was passed by the Senate last month and sets rules such as requiring issuers to have reserves of assets equal in value to that of their outstanding cryptocurrency.
The raft of legislation comes after years of suspicion against the crypto industry amid the belief that the sector, born out of the success of bitcoin, should be kept on a tight leash and away from mainstream investors.
But after crypto investors poured millions of dollars into his presidential campaign last year, Trump reversed his own doubts about the industry, even launching a Trump meme coin and other ventures as he prepared for his return to the White House.
Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission .
He has also established a federal “Strategic Bitcoin Reserve” aimed at auditing the government’s bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures.
The Republican-led House is also considering a bill it calls the Anti-CBDC Surveillance State Act that aims to block the issuance of a central bank digital currency  — a digital dollar issued by the US Federal Reserve.
Republicans argue that a CBDC could enable the federal government to monitor, track, and potentially control the financial transactions of private citizens, undermining privacy and civil liberties.
It would require a not-easily-won passage in the Senate before going to Trump for his signature.
An aborted effort to set the anti-CBDC bill aside caused a furor among a small group of Republicans and delayed the passage of the two other bills before a solution was found.


Japan nuclear sector seeks greater support in new reactor builds, lobby head says

Japan nuclear sector seeks greater support in new reactor builds, lobby head says
Updated 5 min 18 sec ago

Japan nuclear sector seeks greater support in new reactor builds, lobby head says

Japan nuclear sector seeks greater support in new reactor builds, lobby head says
  • Just 14 of the 54 nuclear plants operating in Japan before the 2011 Fukushima disaster have been brought back online
  • Takaichi has said reviving nuclear power is key to Japan’s energy security

TOKYO: Japan’s nuclear power industry wants greater support for new reactor building, including via state-run capacity auctions, under the government of newly elected pro-nuclear Prime Minister Sanae Takaichi, a lobby head said on Thursday.
Just 14 of the 54 nuclear plants operating in Japan before the 2011 Fukushima disaster have been brought back online, and Takaichi has said reviving nuclear power is key to Japan’s energy security.
However, much of Japan’s nuclear focus has been on restarting shuttered reactors — the government recently extended operating lifetimes from 40 to 60 years — with just one new plant currently on the drawing board.
Hideki Masui, president of the Japan Atomic Industrial Forum (JAIF), said more support for building new reactors, a process that takes two decades in Japan, should be made available through the long-term decarbonized capacity auction (LTDA) scheme to develop new power generation.
“We should include a scheme into the LTDA which allows some kind of a fund recovery even during construction from an early stage,” Masui told Reuters.
There are no safety regulations for next-generation reactors, and operators are asking for regulatory predictability while they also seek “support for financing,” Masui said.
In July, Kansai Electric Power, Japan’s top nuclear power operator, announced surveys to build a new reactor in western Japan, the first concrete step toward building a reactor since Fukushima.
Japan aims to have nuclear power accounting for 20 percent of its electricity mix in 2040, from less than 10 percent now, with power demand from data centers reversing years of decline.
Another four idled reactors have been given initial restart permits by authorities, while eight more are undergoing safety checks and a further 10 could apply for restarts, Masui said.
“Theoretically, I think Japan can achieve its nuclear goal of 20 percent in 2040 with more than 30 reactors operating,” Masui said.


Nigerian military says kills 50 jihadists in army base raids

Nigerian military says kills 50 jihadists in army base raids
Updated 36 min 45 sec ago

Nigerian military says kills 50 jihadists in army base raids

Nigerian military says kills 50 jihadists in army base raids
  • The groups are seeking to establish a caliphate in the northeast
  • “The combined ground and air efforts resulted in the neutralization of over 50 terrorists across all the locations,” Lt. Col. Uban said

KANO, Nigeria: Nigeria’s military said on Thursday it had killed 50 militants using drones to carry out multiple attacks on army bases in the volatile northeast.
The authorities in Africa’s most populous country and one of its powerhouses, have been fighting the Boko Haram militant group and its Daesh West Africa Province (Daesh-WAP) splinter for 16 years.
The groups are seeking to establish a caliphate in the northeast.
In the early hours of Thursday, troops aided by fighter jets engaged insurgents who had launched coordinated attacks on bases in the towns of Dikwa, Mafa and Gajibo in Borno state as well as in Katarko in neighboring Yobe state, a military spokesman said in a statement.
The military did not say which faction was behind the attacks, but intelligence sources told AFP that Daesh-WAP militants were responsible.
“The combined ground and air efforts resulted in the neutralization of over 50 terrorists across all the locations,” Lt. Col. Sani Uba, a military spokesman in the northwest said in the statement.
He said several soldiers were wounded in the fighting, without giving numbers.
“Some vehicles and buildings were also gutted by fire from the terrorists’ armed drones and RPG (rocket-propelled grenade) fire during the battle, especially in Mafa and Dikwa, where a part of the defenses were momentarily breached,” he said.
Armed insurgents are increasingly using drones, often commercial models modified to drop bombs or grenades.
A resident in Mafa showed AFP videos and pictures from the area showing the charred carcasses of several trucks and said the militants had set them ablaze during the attack.
Mafa locals said the trucks were mostly laden with cement heading to Chad whose drivers had parked for the night for fear of militant attacks on the highway.
The conflict has killed more than 40,000 and displaced around two million in northeastern Nigeria.
It has spilt over into neighboring countries, prompting the creation of a regional military coalition to combat the Islamist groups.


Indonesia doubles down on ban on Israeli gymnasts as IOC halts Jakarta’s Olympic bid 

Indonesia doubles down on ban on Israeli gymnasts as IOC halts Jakarta’s Olympic bid 
Updated 44 min 5 sec ago

Indonesia doubles down on ban on Israeli gymnasts as IOC halts Jakarta’s Olympic bid 

Indonesia doubles down on ban on Israeli gymnasts as IOC halts Jakarta’s Olympic bid 
  • Court of Arbitration for Sport has upheld Indonesia’s move to ban Israeli athletes from competing in Jakarta 
  • Indonesia has consistently refused to host Israeli sports delegations, including at the 1962 Asian Games

JAKARTA: The Indonesian government reaffirmed on Thursday its decision to bar Israeli gymnasts from participating in a world championship event held in Jakarta, after the International Olympic Committee said it was cutting off discussions about any potential Olympic Games bid by Indonesia.

Yusril Ihza Mahendra, Indonesia’s senior law minister, said earlier this month that the country would not grant visas for Israeli athletes competing at the Artistic Gymnastics World Championships, as part of its “commitment to supporting Palestinian independence.”

Indonesia’s ban was later upheld by the Court of Arbitration for Sport, which rejected appeals filed by the Israel Gymnastics Federation to guarantee its participation at the Jakarta event, which started on Sunday and runs through to Saturday, Oct. 25.

But the visa ban for Israelis sparked concerns for the IOC, leading to its executive board announcing on Wednesday that it was ending “any form of dialogue” with Indonesia about hosting future Olympic events, until Jakarta guarantees “that it will allow access to the country for all participants, regardless of nationality, to attend.”

The IOC also recommended global sports federations to cease holding events in the Southeast Asian country.

Indonesia, which has an active bid to host the 2036 summer games, understood the consequences of its decision, said Sports Minister Erick Thohir.

“Our decision is in line with applicable laws and regulations. This principle is also based on the 1945 constitution, which respects public order and security, as well as Indonesia’s obligation to uphold world order,” he wrote on X on Thursday.

“On that basis, Indonesia took steps to prevent the Israeli delegation from coming to the Gymnastics World Championships … Indonesia will continue to play an active role in various sports events at the Southeast Asian, Asian and global levels, so that Indonesian sports can serve as an ambassador and a reflection of the nation’s strength in the eyes of the world.”

The world’s most populous Muslim-majority country has long been a staunch supporter of Palestinians. It has no diplomatic ties with Israel, as the Indonesian government and people see Palestinian statehood as being mandated by their own constitution, which calls for the abolition of colonialism.

“The minister’s response is proof of the government’s consistent commitment to uphold our constitutional mandate … It also safeguards the nation’s sentiment, which strongly stands with the people of Palestine, especially during the ongoing genocide,” Muhammad Anshorullah, who heads the executive committee of the Jakarta-based Aqsa Working Group, told Arab News.

“I believe that hosting the Olympics isn’t the only way to boost our national sports, economy and tourism. What’s more important is to adhere to our constitution and fight against the Israeli Zionist’s occupation, a fight that is above everything else and one that we must not sacrifice for any other interest.” 

Indonesia has consistently refused to host Israeli sports delegations, including in 1962 when Israel was denied entry to compete in the Asian Games held in Jakarta.

Indonesia was stripped of hosting rights for soccer’s Under-20 World Cup in 2023, only two months before the scheduled start of the tournament, following strong opposition and outrage from regional leaders and politicians against Israel’s participation.


US strikes 2 more alleged drug-carrying boats, this time in the Pacific Ocean

US strikes 2 more alleged drug-carrying boats, this time in the Pacific Ocean
Updated 56 min 46 sec ago

US strikes 2 more alleged drug-carrying boats, this time in the Pacific Ocean

US strikes 2 more alleged drug-carrying boats, this time in the Pacific Ocean
  • It followed another strike Tuesday night, also in the eastern Pacific
  • They bring the death toll to at least 37 from attacks that began last month

WASHINGTON: The US military on Wednesday launched its ninth strike against an alleged drug-carrying vessel, killing three people in the eastern Pacific Ocean, Defense Secretary Pete Hegseth said, expanding the Trump administration’s campaign against drug trafficking in South America.


It followed another strike Tuesday night, also in the eastern Pacific, that killed two people, Hegseth posted on social media hours earlier.
The attacks were departures from the seven previous US strikes that had targeted vessels in the Caribbean Sea.
They bring the death toll to at least 37 from attacks that began last month.
The strikes represent an expansion of the military’s targeting area as well as a shift to the waters off South America, where much of the cocaine from the world’s largest producers is smuggled.
Hegseth’s social media posts also drew a direct comparison between the war on terrorism that the US declared after the Sept. 11, 2001, attacks and the Trump administration’s crackdown.


PM Orban says Hungary is the only country where a Ukraine peace deal can be sealed

PM Orban says Hungary is the only country where a Ukraine peace deal can be sealed
Updated 23 October 2025

PM Orban says Hungary is the only country where a Ukraine peace deal can be sealed

PM Orban says Hungary is the only country where a Ukraine peace deal can be sealed
  • Orban also said that Ukraine “has for long not been a sovereign country“

BUDAPEST: Hungary is the only country where a peace deal to end the war in Ukraine can be sealed, Prime Minister Viktor Orban said on Thursday in a speech marking the anniversary of Hungary’s 1956 anti-Soviet uprising.
Plans for a summit in Budapest between US President Donald Trump and Russian President Vladimir Putin have been postponed.
Orban also said that Ukraine “has for long not been a sovereign country,” and reiterated that he does not want Ukraine to become a member of the European Union but the bloc should enter into a special relationship with it instead.