U.S. Senate to Vote on GENIUS Act Stablecoin Bill by May 26
The United States Senate is expected to vote by May 26 on the GENIUS Act, a bill aimed at regulating stablecoins. The announcement was made by Senate Majority Leader John Thune, who informed Republican lawmakers that the vote could take place before the Memorial Day recess.
Introduced in February by
UAE Introduces New Stablecoin Backed by National Currency
Abu Dhabi has announced the launch of a stablecoin backed by the United Arab Emirates Dirham, as part of a partnership between International Holding Company (IHC), ADQ, and First Abu Dhabi Bank (FAB). The new digital currency is built on the local ADI blockchain and is set to be issued
SEC Approves XRP ETFs: Launches April 30
The U.S. Securities and Exchange Commission (SEC) has officially approved the launch of several XRP-based ETFs, marking a major shift in the regulator's stance on this cryptocurrency. Developed by ProShares, the new products will become available on the market starting April 30, offering investors exposure to XRP
Mastercard Enables Real-Time Stablecoin Transactions Worldwide
Mastercard announced new partnerships on Monday that enable global usage of stablecoins for everyday payments. In collaboration with OKX, Nuvei, Circle, and other companies, Mastercard is expanding its ability to support stablecoins like USDC for purchases at over 150 million merchants worldwide.
The partnership with OKX includes the launch of
SNB rejects the proposal to include Bitcoin in its reserves
The Swiss National Bank (SNB) has rejected the proposal to include Bitcoin in its reserves, while activists continue to push for constitutional changes. Martin Schlegel, president of the SNB, stated during a shareholder meeting in Bern that “cryptocurrency cannot currently meet the requirements for our currency reserves.” He had previously
Nike Sued Over NFT Losses After Shutting Down RTFKT Division
A group of investors has filed a class action lawsuit against Nike, seeking over $5 million in damages. The lawsuit accuses the company of causing financial losses by shutting down its Web3-focused subsidiary, RTFKT, and diminishing the value of associated digital assets.
According to court documents, investors claim that Nike
Coinbase urges removal of SEC crypto holding ban for staff
Coinbase has requested the United States Office of Government Ethics (OGE) to eliminate the rule that prohibits Securities and Exchange Commission (SEC) employees from holding cryptocurrencies. Paul Grewal, Coinbase’s Chief Legal Officer, submitted the request through official letters addressed to OGE Acting Director Jamieson Greer and SEC Chair Paul
China cuts US Treasury holdings to invest in Bitcoin and gold
China plans to reduce its holdings of US Treasury bonds in favor of investments in Bitcoin and gold, according to a statement given to CNBC by Jay Jacobs, head of thematics and equity ETFs at BlackRock.
Jacobs mentioned that central banks around the world have been moving away from the
OpenSea Asks SEC for Clarification on NFT Regulation
OpenSea, one of the largest non-fungible token (NFT) marketplaces, has formally submitted a request to the U.S. Securities and Exchange Commission (SEC) to exempt NFT platforms from federal securities regulations.
The letter was addressed on April 9 to Commissioner Hester Peirce, who heads the SEC’s Crypto Task Force.
China Sells Seized Bitcoin Through Private Firms, Dodging Crypto Ban
Local governments in China are turning to private companies to sell confiscated cryptocurrencies, bypassing the country’s ban on digital asset trading. This practice arises amid a legislative void that lacks clear guidelines for managing seized crypto assets, leading to non-transparent and risky approaches.
According to Reuters, local authorities sold