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 statem
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
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 i
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 to
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. Stabl
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.
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. Th
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 in
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 cal
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 milli
A cryptocurrency tax provision that would have scored big for advocates ultimately didn't make it into President Donald Trump's "big, beautiful bill," passed out of the Senate on Tuesday.The amendment, proposed by Sen. Cynthia Lummis, R-Wyo., would h
US Senator Jeff Merkley, a Democrat from Oregon, recently introduced an amendment to the “Outlaw Big and Beautiful Bill” (OBBB) to prevent elected officials from promoting or profiting from cryptocurrencies in which they have a financial stake. Howev
US Senate discussions over President Donald Trump’s mega tax and spending bill could go all night as senators look to tack on amendments, including some that would affect crypto.The Senate’s vote-a-rama — where lawmakers can propose amendments that a
Bitcoin and Ethereum both posted modest gains in the past week, with BTC rising 6.2% and ETH up by 9.6%. However, momentum appears to have paused at the start of the new week.As of Monday, Bitcoin trades just above $107,000 after a slight 0.6% daily
By Nate WolfFor an asset class touted as a boring alternative to volatile cryptocurrencies like Bitcoin and Ethereum, stablecoins have generated plenty of attention this June.The Senate advanced legislation last week to establish a regulatory framewo
Jay Clayton, the former chair of the US Securities and Exchange Commission and now interim US Attorney for the Southern District of New York (SDNY), has suggested that prosecutors and defense lawyers may explore a “potential resolution” in the crimin
US Senator Tim Scott, chair of the Senate Banking Committee, said the chamber would be aiming to pass legislation for digital asset market structure “before the end of September.”In a Thursday “fireside chat” with Wyoming Senator Cynthia Lummis and W
Shares of Circle Internet Group (CRCL) holds the largest weighting in VanEck’s digital asset corporate index, highlighting the stablecoin issuer’s growing influence in the crypto economy.Circle stock makes up 13% of the MVIS Global Digital Assets Equ
Texas Governor Greg Abbott has yet to sign Senate Bill (SB) 21, which would establish a Strategic Bitcoin Reserve (SBR) for the state.On June 20, Abbott signed 306 bills from the 89th Regular Legislative Session, including 15 considered high-priority
The Senate's approval of a bill to regulate stablecoins brings the U.S. closer to extending its global dollar dominance into the digital age, Deutsche Bank strategist Marion Laboure says in a note. If the bill is enacted, dollar-pegged stablecoins co