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Rep. Shri Thanedar garnered attention by formally seeking the removal of President Donald Trump from his position. Being the first House Democrat, Thanedar introduced seven articles of impeachment against the President. Announcing the move on Monday, the Michigan congressman cited multiple alleged constitutional violations as the basis for his action. The seven articles cover a range of issues from the deportation of Kilmar Abrego Garcia to allegations against the Department of Government Efficiency (DOGE). Thanedar stated that Garcia was mistakenly sent to El Salvador, while the DOGE cut funds without congressional approval. Other complaints focus on Trump’s tariff policies, ill-treating reporters, alleged judicial system corruption, and data privacy concerns, which Thanedar described as “tyrannical overreach.” “I have introduced articles of impeachment against President Trump,” Thanedar stated in his announcement online. “When Trump ignores the Constitution, Congress, and the courts, he is not ‘fighting for America.’ He is tearing it down and endangering our democracy.” The impeachment effort comes amid growing concern among Democrats following the Trump Organization’s release of “Trump 2028” hats on its website. This is seen by critics as supporting the president’s suggestion that he might seek a third term in office. Related: Market Reacts as Trump’s $TRUMP Dinner Promo Faces ‘Selling Access’ Charges from Senator Despite the strong language, the impeachment articles face virtually no chance of advancing in the Republican-controlled House. The process would require Republican support to win a vote on the articles, and even if passed, it would require a two-thirds majority for conviction in the Senate, which is also under the control of Republicans. House Minority Leader Hakeem Jeffries (D-N.Y.) offered a cautious response when asked about the move, stating that the articles had not been evaluated and there had been no opportunity to talk with Thanedar. The impeachment filing comes at a politically sensitive time for Thanedar, who garnered a second primary challenger on Monday morning. His statement emphasized his belief that Trump is unfit to serve as President and is a clear danger to the nation’s constitution and democracy. While Thanedar’s effort marks the first formal impeachment push by a House Democrat this year, it likely won’t be the last. Last month, Rep. Al Green (D-Texas), who was censured for disrupting Trump’s speech to a joint session of Congress, indicated that he is planning to introduce his own articles of impeachment as well. Thanedar could theoretically force a floor vote on impeachment, though he has not indicated whether he plans to use this procedural option. For now, his action stands primarily as a symbolic protest against the president’s policies and behavior, with little chance of advancing through Congress. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Former Rep. Patrick McHenry predicts a 'wicked hot summer' for crypto legislation

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U.S. legislators are pushing for clearer regulations on crypto, in an effort to keep the $2.7 trillion crypto industry in the U.S. U.S. Congress is seeing another major push for regulatory clarity on crypto. On April 9, the House financial services committee’s subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on crypto regulation. The goal of the hearing was to find ways to align U.S. securities laws with the realities of the digital age, especially with regard to crypto assets. In his remark to the committee, House Financial Services Committee Chairman French Hill commended the committee’s “bipartisan efforts to bring clarity and stability” to crypto assets. He also stated that he hoped that there would be meaningful legislation by the end of 2025. WATCH: Chairman @RepFrenchHill delivers opening remarks at today’s Subcommittee hearing: "It is incumbent on us to build on that momentum and continue working toward a comprehensive regulatory framework that establishes clear rules of the road for digital asset markets." 📺⬇️ pic.twitter.com/sEg0jHeshS “It is incumbent on us to build on that momentum and continue working toward a comprehensive regulatory framework that establishes clear rules of the road for digital asset markets… I look forward to hearing from our whitnesses today, and working with coleagues to get this across the finishline this year,” Rep. French Hill Despite offering criticism to the SEC, especially under Gary Gensler, committee members highlighted the SEC’s role in regulation. Subcommittee chairman Bryan Steil stated that the SEC would have a role in regulating token offerings. “At the same time, the Committee feels strongly that there is a role for the U.S. Securities and Exchange Commission to play in the digital asset ecosystem. For example, the Committee believes that issuers raising capital through the sale of new digital assets should fall under the jurisdiction of the SEC,” Rep. Bryan Steil This would likely not include memecoins, as the SEC, already under Gensler, ruled that memecoins were not securities. The rationale was that memecoins had no utility and are more akin to collectibles. The committee did face opposition, especially when Rep. Maxine Waters took the floor. She accused the members of the committee of favoritism toward Donald Trump’s crypto ventures, enabling him to become “crypto king.” The hearing is a part of the latest regulatory push to give clarity to crypto assets in the U.S. For instance, on May 22, the U.S. House passed the Financial Innovation and Technology for the 21st Century Act with bipartisan support.

The U.S. House Financial Services Committee took a major step forward Wednesday in advancing the “ STABLE Act .” Designed to create a dedicated federal framework specifically for stablecoin regulation, the bill has reportedly gained significant bipartisan support. Both Republicans and Democrats on the committee are said to back its core provisions. The Stable Act has received broad reported support from across the political spectrum within the committee. Key sponsors named include prominent Representatives such as French Hill (R-AR), Ritchie Torres (D-NY), Tom Emmer (R-MN), and Bill Huizenga (R-MI). The legislation is expected to provide essential regulatory clarity for the stablecoin sector. This market has faced considerable uncertainty due to the rapid growth and evolution of digital assets generally in recent years. Related: Rep. Steil Wants Crypto Bills Passed “In Tandem”: Here’s the Strategy Committee Chairman French Hill emphasized the need for clear federal regulations to ensure the safe and effective use of stablecoins within the US financial system. He also stressed the bill aims to create practical “guardrails, not roadblocks” for ongoing financial innovation in this space. This perspective reportedly reflects the apparent bipartisan consensus reached within the committee: while stablecoin innovation is viewed as vital, it requires careful management to mitigate potential consumer protection and financial stability risks. Stablecoins are a type of digital asset typically pegged to the value of a reserve asset, in this case, fiat currency as the US dollar. They offer a faster, more efficient alternative to traditional payment systems, making them appealing for facilitating low-cost global payments. Supporters of the STABLE Act argue that with a robust US regulatory framework, dollar-pegged stablecoins could even help strengthen the US dollar’s international position as the world’s primary reserve currency. In addition to the primary STABLE Act, several other related digital asset bills were discussed during Wednesday’s committee hearing. Notable among these were H.R. 2392, titled the “Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025,” and H.R. 2384, the “Financial Technology Protection Act of 2025.” Related: The Tether Effect: Stablecoin Issuer Mints 4 Billionaires to Forbes 2025 Billionaires List These related bills, along with various proposed amendments discussed, broadly aim to address wider regulatory concerns surrounding new digital financial technologies and help ensure the safety of consumers and businesses interacting with them. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.