Bitcoin News Today: Coinbase Launches Base App to Expand Beyond Crypto Trading U.S. House Advances Three Key Crypto Bills After Nine-Hour Delay Pakistan and El Salvador Establish Diplomatic Ties Focused on Cryptocurrency

Coinbase has launched a new mobile app called Base App, marking its most ambitious effort to expand its reach beyond crypto trading. The app, which replaces the existing Coinbase Wallet, is designed as a consumer-facing “super app” that integrates messaging, payments, trading, and social features, all powered by USDC and Coinbase’s Ethereum Layer-2 blockchain, Base. This move positions Coinbase to tap into a global audience that may not be interested in buying tokens but could still engage in what the company calls the “on-chain economy.” The app runs entirely on Base, which settles transactions in under a second for less than a penny.

Key features of the Base App include Base Pay, a 1-click USDC checkout option co-developed with Shopify, now available to thousands of merchants and set to expand to physical stores by year-end. A new identity layer called Base Account and fee-free USDC transfers within chat aim to attract creators and everyday users alike. Coinbase will fund creator rewards inside the app to encourage adoption.

The U.S. House of Representatives has cleared the way for three key crypto bills to advance after a group of Republican lawmakers forced a record-breaking nine-hour delay over demands for a central bank digital currency (CBDC) ban. The procedural vote, the longest in House history, ended late Wednesday with a 217-212 decision in favor of bringing the bills to the floor. The impasse broke when Republican leaders agreed to move the CBDC ban into the National Defense Authorization Act (NDAA), a must-pass piece of legislation that funds the military.

The three bills include the CLARITY Act, which outlines a regulatory framework for digital assets; the GENIUS Act, which would govern stablecoin use and is backed by Donald Trump; and the Anti-CBDC Surveillance Act, a bill to block the issuance of a digital dollar.

Pakistan and El Salvador have formally established diplomatic ties, placing cryptocurrency collaboration at the heart of their new relationship. The agreement follows a meeting between Bilal Bin Saqib, Pakistan’s special assistant on crypto and blockchain, and El Salvador’s President Nayib Bukele in San Salvador. The two sides discussed a knowledge-sharing partnership focused on crypto infrastructure and regulation. Pakistan has moved to embrace the sector, creating the Pakistan Digital Assets Authority in May and planning a national BTC reserve. Officials have also designated 2,000 megawatts of energy for bitcoin mining.

Coinbase's launch of the Base App represents a significant strategic shift, aiming to attract a broader user base by integrating various functionalities into a single platform. This move could potentially democratize access to the on-chain economy, making it more accessible to users who may not be familiar with traditional crypto trading. The app's features, such as Base Pay and Base Account, are designed to provide a seamless and user-friendly experience, which could drive adoption among both creators and everyday users.

The advancement of the three key crypto bills in the U.S. House of Representatives marks a pivotal moment in the regulatory landscape for digital assets. The CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance Act address critical aspects of digital asset regulation, stablecoin use, and the potential issuance of a digital dollar. The inclusion of the CBDC ban in the NDAA highlights the contentious nature of this issue and the political maneuvering required to advance these bills.

The diplomatic alliance between Pakistan and El Salvador, with a focus on cryptocurrency collaboration, underscores the growing global interest in digital assets. This partnership could lead to significant advancements in crypto infrastructure and regulation, benefiting both regions. Pakistan's proactive approach to embracing the crypto sector, including the creation of the Pakistan Digital Assets Authority and the allocation of energy for bitcoin mining, positions the region as a potential leader in the global crypto landscape.