The Florida State Senate passed Bill 314 on March 6th with a 37-0 vote, establishing a regulatory framework for payment-type stablecoins and prohibiting issuers from paying interest. The accompanying House bill will also be submitted for the governor's signature. Meanwhile, another bill was passed to protect the trade secrets of virtual currency businesses.

Solana Policy Institute President Kristin Smith commented on the legislative progress of the "Clarity Act," stating that despite facing resistance, the complexity of the bill ensures its long-term viability. The involvement of the White House and traditional financial institutions in negotiations are new features. If the Senate can complete review by March or April, there is hope to push the legislation forward before July. Trump's support also increases the likelihood of the cryptocurrency legislation passing.

On March 6th, Ripple CEO Brad Garlinghouse supported Trump's tough stance on the "Clarity Act," calling on the U.S. Congress to push for the bill to clarify the regulatory framework for digital assets. Currently, due to disputes over stablecoin yield models, the bill is stalled in the Senate, affecting market sentiment.

BlockBeats News, March 6 — Cynthia Lummis, the proposer of the Bitcoin Strategic Reserve Act and Chair of the Senate Banking Digital Assets Subcommittee, stated that she had a meeting with CFTC Chair Michael Selig. The two discussed the digital asset market structure, and the discussion was very pleasant. The CFTC Chair is well aware of the urgency of the moment and looks forward to continuing cooperation in the process of integrating digital assets into the 21st-century financial system.

The US-Israel-Iran conflict has led to rising oil prices, sparking market concerns about inflation, and the Federal Reserve may pause interest rate cuts. Nevertheless, if Trump’s nominee, Wosh, is confirmed by the Senate, it is expected that he will still support rate cuts, as he advocates for interest rates to be below current levels.

BlockBeats News, March 5th, White House officials have now confirmed that Kevin Wash will replace Milan in the Federal Reserve Board. The White House previously submitted Wash's nomination to serve as Federal Reserve Chair to the Senate. Note: Since Powell stepped down as Federal Reserve Chair in May, he may still hold a seat on the Federal Reserve Board. Currently, acting board member Milan is a "placeholder," but Milan has also expressed willingness to continue serving as a board member. (Jin10)

Odaily Planet Daily reports that crypto journalist Eleanor Terrett announced on the X platform that another major advocate for cryptocurrency tax reform in the U.S. Senate will not seek re-election. Senators Lummis and Steve Daines have confirmed they will not run for re-election, and Marsha Blackburn will also leave the Senate if she is elected Tennessee governor.

Odaily Planet Daily reports that the U.S. Senate held its first vote on the Iran "War Powers Resolution," which did not pass to stop Trump's unauthorized strikes on Iran without Congressional approval. All vote results have been tallied.

Odaily Planet Daily reports that according to market sources: The White House has submitted the nomination of Kevin Wash as Federal Reserve Chairman to the Senate. (Jin10)

The U.S. Senate advances the "21st Century Housing Roadmap Act," explicitly restricting the Federal Reserve from issuing central bank digital currencies before 2030, aiming to improve housing affordability and protect financial privacy. The bill is supported by the White House, but the expiration clause in 2030 has sparked uncertainty, and future CBDC policies remain controversial.