News Wrap: Democrats block crypto bill, demand limits on Trump's investments
In our news wrap Tuesday, Senate Democrats blocked a bill that would have introduced sweeping regulations for cryptocurrencies saying it needs stronger safeguards to prevent the president and other officials from profiting while in office, Kash Patel defended his handling of the FBI during a nearly five-hour Senate hearing and the U.S. military has confirmed it has weapons in space.
Senate Democrats thwarted a cryptocurrency bill on Tuesday, deeming it necessary to introduce more stringent safeguards to prevent potential conflicts of interest, particularly in relation to President Trump and other officials. The measure, named the CLARITY Act, received a 49 to 50 vote defeat. Among other news, FBI Director Kash Patel defended his management of the agency during a Senate Judiciary Committee hearing, which stretched nearly five hours.
Patel was questioned about his decisions, including the firing of experienced agents and modifications to hiring requirements tied to prostitution and bestiality. The FBI insisted the latter change was aimed at protecting victims, not lowering standards. Additionally, the U.S. military disclosed its possession of weapons in space for the first time, with Air Force Secretary Troy Meink revealing the existence of on-orbit space control weapons.
The announcement was met with criticism from China and Russia, who warned against an arms race in space. In the Middle East, Saudi Arabia and Yemen's Houthi rebels accused each other of additional attacks, while the U.N. reported that over 125,000 people have been displaced due to the ongoing conflict. Lastly, a new report indicated that the war in Iran has cost the U.S. more than $38 billion through August, with the cost expected to persist at $3 billion per month or higher, thus exacerbating inflation.
Written by urgent.news from PBS NewsHour Science's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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