The U.S. Senate passed a War Powers joint resolution, S.J.Res.90, on November 1, 2023, to prevent further military actions in Venezuela without congressional approval.
This resolution reinforces Congress’s constitutional role, potentially impacting international relations and macroeconomic factors, but shows no direct effect on cryptocurrency markets so far.
The U.S. Senate voted to block unauthorized military action in Venezuela, passing S.J.Res.90 led by Tim Kaine.
S.J.Res.90 seeks to reassert Congressional authority over military engagements and saw bipartisan support with a 52-47 vote.
Senate Vote Result: 52 in Favor, 47 Against
The U.S. Senate advanced S.J.Res.90, a War Powers resolution aimed at blocking unauthorized military actions in Venezuela. This resolution, led by Tim Kaine, seeks to reassert Congress’s authority over military engagements involving the U.S. armed forces.
Sen. Tim Kaine emphasized Congress’s critical role in war powers, warning about unchecked presidential decisions. The resolution saw bipartisan support, passing 52-47, reflecting a shift towards legislative checks on military authority over Venezuelan hostilities.
Potential Military Spending Constraints Loom
The resolution leads to potential constraints on military spending connected to Venezuela, affecting broader geopolitical dynamics. Though no direct links to cryptocurrency markets are evidenced, the impact on macro risk could influence BTC/ETH volatility as risk assets.
The reduction in geopolitical tensions may modestly affect perceived risk levels, influencing macro-assets such as Bitcoin. Historically, risk-off scenarios can impact major cryptocurrencies, but no explicit data correlates this event to crypto movements currently.
Kaine’s Resolution Follows Historical Precedents
Previous War Powers resolutions targeting Iran provide a precedent, emphasizing Congress’s intent to limit executive military engagements. These resolutions, including Kaine’s past efforts, do not specifically address market effects but reflect constitutional checks on military authority.
Tim Kaine stated, “It was long past time for Congress to reassert its critical constitutional role in matters of war, peace, diplomacy and trade.” Expert insights from Kanalcoin indicate that while the event’s direct crypto impact is unclear, geopolitical shifts can influence market sentiment. Observing past events, the impact on crypto assets could stem from broader risk-reduction scenarios rather than direct legislative outcomes.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
