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U.S. Treasury Secretary Scott Bessent said Wednesday that President Donald Trump's embrace of crypto and stablecoins will cement the U.S. dollar's dominance globally."Stablecoins could reinforce dollar supremacy because with stablecoins, stablecoins could end up being one of the largest buyers of U.…
By Sam GoldfarbNew legislation regulating stablecoins — a type of digital currency pegged to the U.S. dollar — is widely expected to boost demand for Treasurys. But Wall Street isn't sure how much.The cryptocurrency industry scored a major win Tuesday when the Senate passed the legislation, which ma…
Officials with the US Department of Justice announced the seizure by the Secret Service of more than $225 million “linked to cryptocurrency investment scams.”In a Wednesday notice, the DOJ said it had filed a civil forfeiture complaint against more than $225.3 million in cryptocurrency. In the US le…
While stablecoins have yet to attract developers at the same scale as Apple’s iPhone, stablecoin issuer Circle CEO Jeremy Allaire suggests that breakthrough moment isn’t far off.“We are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable di…
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.It's Friday! Bitcoin briefly fell 5% to below $104,000, and Ethereum slid 10% under $2,500 overnight after Israel launched airstrikes on Iran, escalating regional conflict and sparking a fl…
Update June 13, 10:30 am UTC: This article has been updated to include a section on the GENIUS Act.Walmart and Amazon are reportedly mulling plans to issue their own US dollar-backed stablecoins for customers, signaling wider institutional stablecoin adoption amid improving regulatory clarity in the…
Stripe has acquired Privy, a cryptocurrency wallet infrastructure developer, for an undisclosed amount, highlighting the global payment processor’s growing pivot toward digital assets. Privy confirmed the acquisition on Wednesday in an announcement on social media that it will continue to operate as…
Japanese financial services group SBI Group stated it invested $50 million in stablecoin issuer Circle during the company’s upsized initial public offering (IPO) debut on the New York Stock Exchange (NYSE) last week. The allocation was split equally between SBI Holdings and its subsidiary SBI Shinse…
A South Korean lawmaker unveiled a new bill on Tuesday to further establish a regulatory framework around crypto, including a new licensing regime for stablecoins.Min Byeong-deok, a lawmaker for the ruling democratic party, said today in a press conference that the bill, named the Digital Asset Basi…
South Korea’s newly elected president Lee Jae-myung is fast-tracking his campaign promise to allow the issuance of domestic stablecoins, as his party has moved forward with a crypto bill.Lee’s ruling Democratic Party proposed the Digital Asset Basic Act on Tuesday, aimed at improving transparency an…
Société Générale-Forge, the crypto subsidiary of French financial services company Société Générale, has launched a new US dollar-pegged stablecoin.According to a June 10 announcement, the stablecoin, dubbed USD CoinVertible (USDCV), will be issued on the Ethereum and Solana blockchains. United King…
French bank Societe Generale will launch a dollar-backed stablecoin via its crypto subsidiary SG-FORGE, becoming the first major European lender to launch a dollar-pegged cryptocurrency in the booming market for stablecoins.The cryptocurrency, called "USD CoinVertible", will exist on the Ethereum a…