FameEX Morning Crypto News Recap | March 14, 2025

U.S. Senate Banking Committee Approves the Financial Integrity and Regulatory Management Act

The U.S. Senate Banking Committee passed the Financial Integrity and Regulatory Management Act in a 13–11 vote. Introduced by Senator Tim Scott, the bill seeks to prevent federal regulators from citing reputational risk when supervising financial institutions, addressing crypto industry concerns over unfair "debanking" practices.

Mnuchin Downplays Recession Risk, Urges Investor Composure

On March 14, former Treasury Secretary Mnuchin downplayed recession fears, attributing the stock market sell-off to adjustments from Trump’s trade policies. He urged investors to stay calm, predicting no recession. While acknowledging that reduced government spending could slightly slow growth, he emphasized it shouldn’t trigger serious economic concern.

U.S. Senate Banking Committee to Examine GENIUS Act

Senator Cynthia Lummis announced that the Senate Banking Committee will conduct a final review of the GENIUS Act, introduced by Senator Hagerty. The bill aims to define payment stablecoins, set clear guidelines for issuers, and balance responsible innovation with consumer protection.

Trump Proposes 200% Tariff on European Union Wine

Trump criticized the EU on social media as a hostile institution using unfair tariffs, citing its 50% duty on U.S. whiskey. He warned that if the EU doesn’t remove the tariff, the U.S. will retaliate with a 200% tariff on wine and champagne from France and other European nations.

Survey Finds Majority of Americans Hold Unfavorable Opinion of Elon Musk

A CNN and SSRS survey found that 53% of Americans view Elon Musk negatively, with his popularity dropping since joining Trump’s government efficiency team. Around 60% believe he lacks the experience and judgment to reform government operations, and even 28% of Trump supporters question Musk’s ability to make effective changes.

Royal Bank of Canada Analysts Express Concern Over U.S. Growth and Tariff Uncertainty

RBC Capital Markets analysts cautioned that tariffs might fuel long-term inflation but their uncertainty could dampen short-term demand, hinder growth, and risk deflation, underscoring the intricate economic consequences of trade policies.

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