US bank lobby opposes cryptocurrency companies’ applications for banking licenses
Banking associations in the US are calling on regulators to delay any decisions regarding banking licenses for cryptocurrency firms until more details about the proposals come to light. They argue that moving forward with these applications represents a significant shift from existing policies. In a letter to the OCC, groups including the American Bankers Association […]
The week when cryptocurrency achieved significant success in the U.S.
For quite some time, the U.S. government has taken a hands-off approach to cryptocurrency, deeming it too risky for most Americans. In a notable shift, the House of Representatives recently voted to approve the first major cryptographic legislation, reflecting a new direction in the U.S. stance on digital currencies. The cryptocurrency market is buzzing with […]
Indian cryptocurrency exchange CoinDCX breached, $44 million stolen
CoindCX Hacked, Loses $44 Million On Friday, India’s cryptocurrency exchange, CoindCX, experienced a significant security breach, resulting in a loss of $44 million. The hack was carried out by violating one of CoindCX’s internal accounts connected to “liquidity regulations” through a server compromise. Fortunately, user funds remained untouched, as stated by CoindCX CEO Sumit Gupta. […]
Trump approves stablecoin legislation as the cryptocurrency sector seeks wider acceptance.
Trump Signs Law to Regulate Cryptocurrency WASHINGTON – President Donald Trump signed legislation on Friday establishing a regulatory framework for cryptocurrencies, specifically targeting Stablecoins. The bill, named the Genius Act, received bipartisan support in the House of Representatives, passing with 308 votes to 122. This included backing from nearly half of the Democrats and a […]
Brilliant Move: How new cryptocurrency regulations might impact stablecoins
Following various political challenges, three cryptocurrency bills backed by President Donald Trump gained notable traction this week on Capitol Hill, with one being signed into law on Friday afternoon. This development has sparked excitement among investors, leading major crypto tokens—Bitcoin, Ether, and Ripple—to hit all-time highs. Bitcoin, in particular, has performed exceptionally well this year, […]
Trump signs significant cryptocurrency legislation, the GENIUS Act, into law
New Regulations for Stablecoins Signed Into Law The recently implemented “Genius Act” establishes new regulations for entities issuing stablecoins. These digital currencies are designed to maintain a value pegged to stable assets, like the US dollar. The new rules outline who can issue stablecoins, the requirements for maintaining reserves, protocols in the event of bankruptcy, […]
Trump set to enact significant cryptocurrency legislation
Trump Signs Major Cryptocurrency Legislation Washington – President Donald Trump is set to sign significant cryptocurrency legislation on Friday, marking a first for Congress. Trump hinted at the event on his social media platform, True Social, stating, “Big Signature at 2:30pm at the White House,” which is planned for Eastern Standard Time. He expressed his […]
Trump enacts stablecoin legislation in a significant moment for cryptocurrency
Trump Signs Major Cryptocurrency Bill On Friday, President Trump signed a significant piece of legislation regarding cryptocurrency, marking an important development for the industry, which has found reliable support in his administration. He hailed the bill, stating it sets up a regulatory framework for digital tokens backed by the dollar, known as Stablecoins, and described […]
President Donald Trump is set to sign a new cryptocurrency bill into law on Friday.
Trump Signs Cryptocurrency Legislation WASHNGTON – President Donald Trump officially signed a new law on Friday, marking an important step for the cryptocurrency industry, which has worked hard to build its credibility and political influence. This legislation aims to set foundational regulations and consumer protections around stablecoins, which are linked to stable assets like the […]
GENIUS Act is enacted as Trump signs cryptocurrency regulations
Trump Signs Groundbreaking Stubcoin Law President Donald Trump signed a new law on Friday aimed at establishing federal regulations for digital currencies, particularly focusing on stablecoins, which are intended to offer price stability by being linked to stable assets like gold or the US dollar. Before the bill was signed, Trump reminded everyone of his […]