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The GENIUS Act, which sets out a framework for stablecoins in the US, has received the lawmakers' approval in the House of Representatives, clearing its way to become the first major crypto law in the country.A Signature Away from Becoming LawThe Guiding and Establishing National Innovation for U.S.…
By Joe Light and Elsa OhlenThe crypto industry notched a major victory on Thursday, securing legislation that could lead to digital assets becoming a significant part of Americans' everyday lives. But delays in enacting the bill shows the industry's power still has limits.On Thursday afternoon, the …
U.S. federal banking agencies released a joint statement setting out how existing rules apply to banks holding crypto on customers' behalf, marking the latest move by regulators to clarify how banks can engage with the burgeoning industry.In a statement issued on Monday, the Federal Reserve Board, O…
Jonathan Gould, who previously worked as the chief legal officer of blockchain infrastructure company Bitfury, has been confirmed as the head of the US Office of the Comptroller of the Currency (OCC) following a Senate vote.In a 50-45 vote in the US Senate on Thursday, a majority of lawmakers voted …
Ripple CEO Brad Garlinghouse says there’s a widely-held belief that the stablecoin market could grow almost ten times over the next few years. The stablecoin industry is currently around $250 billion in market capitalization, and “many people think it will reach $1 to $2 trillion in a handful of yea…
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.Happy Friday! It's Independence Day in the U.S., but crypto never sleeps — so we're still here to keep you up to date with the latest.In today's newsletter, two bitcoin wallets move 20,000 …
J.P.Morgan on Thursday forecast stablecoin growth will only reach $500 billion by 2028, calling trillion-dollar projections "far too optimistic", as there was little evidence of mainstream adoption of the dollar-pegged cryptocurrency token. Stablecoins have moved beyond their crypto trading root…
Bitcoin’s price is starting to heat up again, pushing towards the important $110,000 level and recording an increase of around 1.6% in the past 24 hours. This comes amid an even more impressive rally from certain meme coins such as Fartcoin and Bonk.The total crypto market capitalization added aroun…
Key takeaways:Historical data fail to show a consistent link between Bitcoin price gains and US debt ceiling increases.Bitcoin’s resilience reflects investors’ belief that the US dollar will continue to lose value due to US domestic fiscal policy. The United States Senate passed US President Donald …
Zohran Mamdani won the New York mayoral primary election on June 24, which has since caused a stir among the crypto industry’s upper crust.Mamdani will face off against incumbent Mayor Eric Adams in November, and it’s clear that many in the crypto industry are uneasy about the prospect of a Mamdani …
By Nate WolfStablecoin issuer. Hype stock. Crypto giant. Circle Internet Group now has another title in its sights: bank.Circle has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank called First National Digital Currency Bank, N.A., th…
James Walkinshaw, a Democratic candidate seeking to replace the late Representative Gerry Connolly for Virginia’s 11th Congressional District, won a party primary after a cryptocurrency-backed political action committee (PAC) spent more than $1 million to support his race.On Saturday, Democrats in V…