Newsom signs California ban on public officials issuing memecoins
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California Senate passes bill to ban memecoin issuance by public officials
The bill seeks to prohibit the listing of memecoins issued by federal public officials to California residents, citing conflicts of interest and “pay-to-play arrangements.”
US senators have proposed banning elected officials and the president from issuing or sponsoring personal tokens.
PANews reported on July 4th, citing Cointelegraph, that US Senator Kirsten Gillibrand has proposed banning elected officials and the president from issuing or sponsoring their own tokens. In a statement, Gillibrand said Congress should support measures prohibiting elected officials and their spouses from “issuing or sponsoring their own digital assets.” The New York senator stated that the proposed restrictions would cover all US presidents and their spouses, but did not explicitly mention whether the provision would be extended to the vice president or their family members. Gillibrand was one of the senators behind the negotiations for the Senate's CLARITY Act, which has been repeatedly delayed due to concerns about ethics, tokenization, and stablecoin rewards.
Opinion: Warsh should publicly resist Trump's pressure on the Federal Reserve and uphold the central bank's independence.
According to Mars Finance, on July 6th, Bloomberg columnist Jonathan Levin published an article stating that US President Trump and his allies are continuously pushing to influence Federal Reserve decisions through personnel changes, including attempting to replace Fed Governor Lisa Cook and interfering in the selection of the Federal Reserve Bank of Atlanta president, in order to expand the influence of White House supporters on the Federal Open Market Committee (FOMC). Levin believes that Kevin Warsh, considered a leading candidate for the next Fed chair, should publicly oppose White House interference, support Jerome Powell and Cook to complete their terms, and demand that the White House withdraw from the selection process for regional Fed presidents; otherwise, his future credibility in leading the Fed and his influence within the committee will be weakened. The Fed's independence is key to maintaining stable inflation expectations and the credibility of monetary policy; continued political interference could damage the stability of the US macroeconomy.
Kalshi issues first lifetime ban for Republican politician over insider bets
The prediction platform permanently banned George Santos and issued a three-year suspension for Laurie Buckhout after investigations into using insider information on event contracts.
People Are Turning to AI for Mental Health, California Wants It Banned
A California bill is awaiting an Assembly vote to "place guardrails" around AI chatbots and prevent them from acting as therapists.
US media reveals inside story of the US-Iran ceasefire agreement: The Iranian president and central bank governor jointly urged the Supreme Leader to "sign it quickly."
According to a report by The New York Times on July 4th, citing four officials familiar with the details of the meeting, Iranian President Pezechzian visited Supreme Leader Mojtaba Khamenei during the final stages of negotiations when Khamenei hesitated to approve the preliminary ceasefire agreement. The Iranian president told the Supreme Leader that the economic situation was dire, the US naval blockade was strangling Iran, and he would resign if he rejected the agreement. Furthermore, the Governor of the Central Bank of Iran, Abdulnaser Hemmati, also wrote to Khamenei, stating that the country faced a severe budget crisis and that critical food and medical supplies would run out by the end of August if the naval blockade continued. Hemmati explained in the letter that Iran could not sell oil on the required scale or find alternative trade routes. These statements played a crucial role in Mojtaba's eventual decision to support the agreement. In a brief public statement, he stated that although he opposed the agreement "in principle," he instructed the president to proceed if he obtained the support of the Supreme National Security Council. Pezechzian stated that the council approved the agreement by 12 out of 13 votes.