Tag: Stablecoin

US Senate moves forward with GENIUS stablecoin bill

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The US Senate has voted to advance a key stablecoin-regulating bill after Democrat Senators blocked an attempt to move the bill forward earlier in May over concerns about President Donald Trump’s sprawling crypto empire. A key procedural vote on the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, passed in a 66-32 vote on May 20. Several Democrats changed their votes to pass the motion to invoke cloture, which will now set the bill up for debate on the Senate floor. Republican Senator Cynthia Lummis, one…

XSGD Stablecoin by StraitsX, With 8B On-Chain Transactions, Launches on XRP Ledger

Crypto infrastructure provider StraitsX debuted its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL) to cater to growing demand for regulated multi-chain stablecoins supporting real-time cross-border payments. Digital asset developers, fintechs firms and financial institutions can use XSGD to conduct cross-border transactions, settle transactions on-chain and create programmable financial flows. XGSD is being powered by XRPL, a decentralized public blockchain from Ripple. StraitsX, a major payment institution licensed by the Monetary Authority of Singapore, began issuing XSGD in 2020. The stablecoin pegged to the Singapore dollar is fully backed…

House to vote on cryptocurrency regulation that could impact Trump family

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io ABC News’ Jay O’Brien reports on the GENIUS Act, a bill that would create a regulatory framework for a type of cryptocurrency known as stablecoins. Subscribe to ABC News on YouTube: ABC News Digital is your daily source of breaking national and world news, exclusive interviews and 24/7 live streaming coverage. Download the ABC News app for the latest headlines and alerts: Watch 24/7 coverage of breaking news and live events on ABC News Live: Watch full episodes of World News Tonight…

Crypto Exchanges Oppose Brazil’s Stablecoin Self-Custody Ban

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Crypto actors see the ban proposal, spearheaded by the Central Bank of Brazil, as excessive and explain that this move might push companies to operate offshore. An alternative proposal that substitutes the proposed ban with a reporting system was also recently floated. Exchanges Say Stablecoin Self-Custody Ban Proposal Could Push Crypto Offshore in Brazil The […] Source

US Senate will pass Stablecoin bill — Digital Chamber chief

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The stalling of key stablecoin legislation in the United States Senate was a minor setback, and the bill will pass in the coming weeks, said Cody Carbone, CEO of Digital Chamber, a Washington, DC,-based blockchain trade association and advocacy group. Speaking to Cointelegraph at Consensus 2025, Carbone argued it is in the best interests of the US to pass comprehensive stablecoin regulations to protect US dollar hegemony in global markets, which has bipartisan appeal and support. Carbone said: “These things never move as quickly as we want them to move,…

FTX stablecoin payouts and ETF inflows could boost Bitcoin in June

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Bitcoin could benefit from favorable market conditions through July, before seasonal headwinds and tariff deadlines take effect, analysts say. Bitcoin (BTC) has jumped more than 25% since April, and it’s now holding near $106,000 with several signs pointing to more upside in the coming weeks, analysts at Matrixport say. In a Friday report, the analysts suggested that a new all-time high might be within reach due to several positive catalysts on the horizon. According to the report, Bitcoin has surged back to the upper end of its range at $106,000,…

Stablecoin regulation ‘next catalyst’ for crypto industry — Aptos head

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Stablecoin regulation is “the next catalyst” for the crypto industry and could lead to unprecedented “appetite from institutional investors,” according to Ash Pampati, head of ecosystem at the Aptos Foundation. In an interview with Cointelegraph at Consensus 2025 in Toronto, Pampati said that “the whole world outside of the United States […] has already jumped onto this [stablecoins],” adding that “the US is […] at the doorstep.” “I really think about new use cases that can emerge because of the borderless nature of stablecoins, because of the efficiency of the…

Canada lags with stablecoin approach, but there’s room to catch up

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The slow adoption of stablecoins in Canada has some local crypto industry observers concerned that the country is falling behind. The Canadian Securities Administrators (CSA) classified stablecoins as “securities and/or derivatives” in December 2022 after the FTX debacle that shook markets and turned many lawmakers against the crypto industry. Regulating stablecoins as a security has seen few local stablecoin issuers arise, but in the United States and the European Union, softening regulations have seen significant growth in the stablecoin market. This makes Canada, observers say, less competitive with other jurisdictions. …

US Senate Prepares Stablecoin GENIUS Act Vote by May 26

Key Notes Gillibrand highlighted significant refinements in the bipartisan stablecoin bill, focusing on consumer protection, bankruptcy protocols, and issuer requirements. The stablecoin bill faced setbacks when Senate Democrats withdrew support, citing concerns over Trump-affiliated crypto projects. The crypto industry is pushing for the GENIUS Act and a Republican-led market structure bill to pass before the midterm elections in 2026. While speaking at an event by Stand By Crypto, crypto-friendly Republican Senator Cynthia Lummis stated that she expects the GENIUS Act for US-based stablecoins to be passed on Memorial Day, May…

COIN Stock in Focus as Coinbase CEO Pushes for Stablecoin Bill

Key Notes Armstrong expressed optimism about achieving “meaningful laws” soon while building a market structure for stablecoin use. Following its $2.9 billion acquisition of Deribit, Armstrong highlighted Coinbase’s ongoing pursuit of mergers and acquisitions. Coinbase (COIN) shares have rallied 30% in the past week, driven by strong Q1 2025 results and its historic inclusion in the S&P 500 index. Coinbase Global Inc (NASDAQ: COIN) stock has been on investors’ radar recently following a sharp 30% rally over the past week, on the backdrop of strong Q1 2025 results, and the…