US Senate Banking Committee is working on principles for its version of the Crypto Market Structure Act

2025/06/18 22:48

PANews June 18 news, according to Eleanor Terrett, a crypto journalist, the U.S. Senate Banking Committee is developing the principles of its version of the Crypto Market Structure Act - this will be the focus of a subcommittee hearing next week led by Senator Cynthia Lummis. Senator Tim Scott said he hopes to hold a full committee hearing within the next month (possibly after the discussion draft is released).

Disclaimer: The content displayed on MEXC News is provided by third parties and is for informational purposes only. These contents do not constitute financial or investment advice. Please conduct your own research before making any investment decisions.

You May Also Like

Crypto Casino Luck.io Pays Influencers Up to $500K Monthly – But Why?

Crypto Casino Luck.io Pays Influencers Up to $500K Monthly – But Why?

Crypto casino Luck.io is reportedly paying influencers six figures a month to promote its services, a June 18 X post from popular crypto trader Jordan Fish, aka Cobie, shows. Crypto Influencers Reportedly Earning Six Figures Monthly According to a screenshot of messages between Cobie and an unidentified source embedded in the Wednesday post, the anonymous messenger confirmed that the crypto company pays influencers “around” $500,000 per month to promote the casino. They’re paying extremely well (6 fig per month) pic.twitter.com/AKRVKU9vp4 — Cobie (@cobie) June 18, 2025 However, not everyone was as convinced of the number’s accuracy. “That’s only for Faze Banks probably,” one user replied. “Other influencers are getting $20-40k per month. So, same as other online crypto casinos.” Cobie pushed back on the user’s claims by identifying the messenger as “a crypto person,” going on to state that he knew of “4 other crypto people” earning “above 200k” from Luck.io. Drake’s Massive Stake.com Deal Cobie’s post comes amid growing speculation over celebrity and influencer collaborations with crypto casinos globally. Aubrey Graham, better known as Toronto-based rapper Drake, is reported to make nearly $100 million every year from his partnership with cryptocurrency casino Stake.com. As part of his deal with the Curaçao-based digital casino, the “Nokia” rapper occasionally hosts live-stream gambling sessions for his more than 140 million Instagram followers. Founded by entrepreneurs Ed Craven and Bijan Therani in 2017, the organization allegedly raked in $2.6 billion in 2022. Stake.com has even solidified key partnerships with Alfa Romeo’s F1 team and Liverpool-based Everton Football Club. However, concerns remain over crypto casinos’ legality as a whole , given their massive accessibility and reach online. Earlier this year, Stake was slapped with litigation out of Illinois for supposedly running an illegal online casino stateside while causing “severe harm to vulnerable populations.” “Stake floods social media platforms with slick ads, influencer videos, and flashy visuals, making its games seem safe, fun, and harmless,” the lawsuit claims. “By masking its real-money gambling platform as just another “social casino,” Stake creates exactly the kind of dangerous environment that Illinois gambling laws were designed to stop.”
Share
CryptoNews2025/06/19 04:53