The GENIUS Act, short for Guiding and Establishing National Innovation for U.S. Stablecoins, has successfully navigated the Senate, marking a potentially transformative moment for the cryptocurrency industry, especially concerning stablecoins. That bill passed with a strong 68-30 vote. This result marks an increasing bipartisan consensus on the need to rein...
Stablecoins are quickly becoming one of the most used digital assets around the globe, thanks to their peg to traditional currencies. This exponential growth is leading regulators to develop frameworks for their regulation. Hong Kong took a big step forward with the passage of its Stablecoins Bill on May 21,...
MiCA. It sounds innocuous, doesn't it? Like a friendly European cat. When it comes to stablecoins, the EU’s Markets in Crypto-assets Regulation is anything but cuddly. Consumer protection in reality, it’s turning into a global power grab.MiCA's Reach Exceeds Its Grasp?MiCA's ambition is breathtaking. It seeks to set ground rules...
In this case, the European Central Bank (ECB) is calling for a reconsideration of the new Markets in Crypto-Assets (MiCA) regulation. This regulatory framework directly regulates the use of cryptocurrency in Europe. This request would come just months after the adoption of MiCA. This is largely motivated by fears that...
Stablecoins—digital currencies tied to real-world currencies or assets, such as the U.S. dollar—are quickly developing into a key point of contention on Capitol Hill. The $230 billion stablecoin industry would benefit greatly from Donald Trump’s promise. His vision for the U.S. would make it the world’s “crypto capital of the...
This week, Federal Reserve Chair Jerome Powell reiterated the need to create a regulatory framework for stablecoins as one of his key priorities. Yet, these digital assets are quickly becoming pervasive features of global financial markets. Powell’s remarks are a clear signal that U.S. financial regulators are increasingly prepared to...
