Pat Toomey
US Senator Toomey introduces stablecoin bill as congressional session wraps up
Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for “payment stablecoins.” Toomey — who also serves as the ranking member of the U.S. Banking Committee — said the Stablecoin TRUST Act of 2022 would serve as a framework for stablecoin regulation for his fellow senators, who are looking to pas stablecoin legislation in 2023. In a Dec. 21 statement, the senator called stablecoins an “exciting technological development that could transform money and payments,” adding: “By digitizing the U.S. dollar and making it available on a global, instant, and nearly cost-free basis, stablecoins could be widely used across the physical...
Republican senator: Donald Trump must ‘go away as soon as possible’
A second Republican senator in the United States has called on Donald Trump to step down after some of the president’s supporters overran the Capitol building in Washington, DC this week in a deadly riot. In an interview with NBC’s Meet the Press news programme on Sunday, Pennsylvania Senator Pat Toomey said Trump should resign for the good of the country. “I think the best way for our country is for the president to resign and go away as soon as possible,” he said. Toomey said president’s resignation is the “best path forward, the best way to get this person in the rear-view mirror for us”, but added that he did not believe Trump would step down before his term ends on January 20. He also said the president’s role encouraging the riot was an “impeachable offence”. Momentum has been buildi...
Gold rises on renewed US stimulus hope, dollar falls
Spot gold rose 0.3 percent to $1,910.56 an ounce at 3:37pm, New York time, after falling as much as 0.5 percent. Gold rose on renewed optimism for a preelection aid package in the U.S., while the dollar fell to a one-week low. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Senate Majority Leader Mitch McConnell said his chamber would take up a comprehensive coronavirus package if an accord is struck. The Bloomberg Dollar Spot Index headed for the third straight decline. Pelosi said in a Bloomberg Television interview that while there are areas where more work is required to get a compromise, she was pleased with the Trump administration’s latest position on coronavirus testing ...
