Search results for "ACT"
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02:02

U.S. House Introduces PACE Act to Grant Qualified Digital Asset Firms Direct Access to Federal Reserve Payment System

The PACE Act would let qualified digital asset and fintech firms access the Fed's payment system, aiming to cut delays and costs through direct Fed access, with regulatory safeguards and consumer protections. Abstract: The U.S. House introduced the Payments Access and Consumer Efficiency (PACE) Act to allow qualified digital asset, fintech, and other service providers to connect directly to the Federal Reserve's payment system. The bipartisan bill, by Reps. Young Kim and Sam Redo, aims to cut delays and fees by enabling direct Fed access under OCC oversight, with streamlined registration, consumer protections, supervisory enforcement, and bankruptcy provisions. Industry advocates argue that direct access would foster faster, cheaper, and more competitive payment services while maintaining safeguards for innovation.
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01:01

Trump Seeks to Extend Jones Act Waiver to Keep U.S. Oil Shipping Costs Down

Trump seeks to extend a 60-day Jones Act waiver paused in March to ease oil shipments amid tensions; White House notes 40 tankers boosted fleet by 70%, cutting transport costs. Abstract: This article discusses President Trump's effort to extend a 60-day waiver of the Jones Act, suspended in March to ease oil shipments amid Iran tensions. It notes that the waiver has expanded the effective U.S. fleet by about 70% and enabled 40 tankers to move petroleum between ports from California to Texas, Florida, and Alaska, helping to reduce transportation costs.
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