1. On the eve of a vote in the U.S. Senate (the Clear Act), Democrats put forward a counterproposal to tighten encryption-related regulation; the bill ultimately could not be advanced.

The U.S. Senate will hold a procedural vote on the (Clear Act) at 22:15 on September 15 (UTC+8). The bill needs 60 votes to proceed. The Republicans have made 126 amendments to the bill. On the eve of the vote, the Democrats put forward a counterproposal calling for tighter limits on large crypto holdings, blockchain regulatory provisions, and rules addressing conflicts of interest for exchanges. Patrick Witt, Executive Director of the White House Crypto Commission, said he feels good about the voting outcome. Eight financial industry groups, including the American Bankers Association, oppose the bill. The White House Council of Economic Advisers has introduced new tools to rebut the banking industry’s claims that stablecoins lead to deposit outflows. -Original text

2. Hasett: Trump and I respect any decision Fed Chair Kevin Warsh makes tomorrow

The chair of the White House National Economic Council, Hasett, said that U.S. President Trump and Hasett himself respect any decision made by Fed Chair Kevin Warsh tomorrow. - Original text

3. WTI crude oil rises more than 5% to $106.486 per barrel; situation in the Strait of Hormuz escalates

4. BlackRock withdraws 1,698.44 BTC and 11.7k ETH from Coinbase Prime

BlackRock withdraws 1,698.44 BTC and 11.7k ETH from Coinbase Prime, with the BTC valued at about $130 million and the ETH valued at about $28.3 million. - Original text

5. U.S. Treasury Secretary Bessent: When the deficit-to-GDP ratio reaches 3%, the government can begin repaying its debt

U.S. Treasury Secretary Bessent said that when the deficit as a share of GDP reaches 3%, the government may begin repaying its debt. - Original text

6. Dudley: The Fed may raise rates in September and may launch a series of consecutive rate hikes

Former New York Fed chairman Dudley said the Fed has strong reasons to tighten monetary policy; the September rate hike is not a one-off action, but the start of a round of consecutive rate hikes. Dudley pointed out that the U.S. inflation rate is above the 2% target, the labor market is stable, and core CPI rose 0.3% month over month in August. Dudley expects the Fed’s Summary of Economic Projections (SEP) to be released in September to provide a median expectation for two cumulative 25-basis-point rate hikes in 2026. Dudley believes that if Fed Chair Kevin Warsh raises rates decisively, it would help demonstrate its determination to curb inflation and its policy independence; Fed Chair Kevin Warsh should not outsource monetary policy to financial markets. - Original text

7. Vance: The U.S.-Iran conflict may end after the midterm elections

U.S. Vice President Vance told the New York Post that the U.S.-Iran conflict will enter different stages within a few months and may end after midterm elections. Vance said that shipping through the Strait of Hormuz is resuming, Iran’s ability to exert control is weakening, and current shipping volume has already rebounded to more than 50% of normal levels. The U.S. is not taking offensive action at present and is only responding to Iran’s attacks on merchant vessels. Vance outlined a two-stage plan: in the first stage, to destroy Iran’s nuclear program and weaken its conventional forces and regional strike capabilities; in the second stage, to prevent Iran from rebuilding these capabilities and to maintain regional stability. The subsequent course will depend on whether Trump increases its actions after the midterm elections or whether Iran seeks to reach an agreement. - Original text

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