World Liberty Financial CEO Zach Witkoff states that the success of the stablecoin puts to rest accusations of Trump favoritism.
World Liberty Financial CEO Addresses Concerns Over Political Influence The CEO of World Liberty Financial, a company connected to Donald Trump, asserts that the firm functions independently and provides significant utility, pushing back against accusations of possible conflicts of interest. Founded in 2024, the cryptocurrency venture by Trump, his sons, and their associates runs the […]
U.S. Stablecoin Regulations Develop as the CLARITY Act Advances
Progress on the CLARITY Act and Stablecoins U.S. lawmakers are making headway on a compromise related to stablecoins under the CLARITY Act. This development is being viewed as a pivotal moment in the establishment of federal regulations for digital assets. While Bitcoin recently exceeded the critical $80,000 mark during the Consensus event in Miami, the […]
Main Street May Suffer If Swamp Deal On Stablecoin Happens
Senators Thom Tillis and Angela Alsobrooks announced a compromise last week regarding stablecoin yields, outlined in Section 404 of the Digital Asset Market Transparency Act. This agreement stops stablecoin companies from providing yields that are, in economic terms, similar to traditional bank interest. It seems solid, at first blush. However, there are significant gaps that […]
Brazil’s central bank prohibits stablecoin and cryptocurrency use for international payments
Brazil’s Central Bank Bans Stablecoins and Cryptocurrencies for International Remittances Brazil’s central bank has prohibited electronic foreign exchange (eFX) providers from using stablecoins, Bitcoin, and other cryptocurrencies to facilitate international remittances. A new regulation, referred to as BCB Resolution No. 561, was released on April 30. This updated the framework for eFX, which governs digital […]
New law allows crypto companies to provide stablecoin rewards while protecting bank interest rates
New Agreement Bans Stablecoin Yields A recent agreement has put a stop to stablecoin yields as part of an updated approach to the controversial Cryptocurrency Market Structure Bill. This mirrors discussions that have been ongoing since early this year. The proposed Digital Asset Market Transparency Act, revealed on Friday, outlines that stablecoin issuers cannot offer […]
Western Union plans to introduce a stablecoin to facilitate international transactions without using SWIFT, according to the CEO.
Western Union’s New Stablecoin Strategy Western Union (WU) is gearing up to implement a stablecoin strategy that might significantly change payment processes within its extensive, 175-year history. CEO Devin McGranahan shared during the first quarter earnings call that the company’s USD Stablecoin (USDPT) is nearing its launch, expected next month. This digital dollar will function […]
Trump-supported World Liberty Financial produces $25 million in new stablecoin during borrowing dispute
World Liberty Financial Launches New Stablecoin Amid Controversy World Liberty Financial, a crypto enterprise associated with President Trump’s family, introduced a new stablecoin worth $25 million on Monday. This coincides with the amount the company mentioned it had repaid to various lending platforms last week, following a report from CoinDesk. Just last Friday, the company […]
Coinbase overcomes important regulatory challenge to strengthen its stablecoin operations
Coinbase Receives Conditional Approval to Operate as a Trust Bank On Thursday, Coinbase announced that it has gained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to function as a trust bank. Paul Grewal, the company’s chief legal officer, shared with CNBC that once formalized, crypto exchanges would have the […]
Stablecoin earnings in crypto Clarity Act will not permit rewards on balances, latest draft indicates.
Cryptocurrency Industry Reacts to Senate Bill Members of the cryptocurrency sector recently encountered the market structure amendment bill in the Senate and noted that the language surrounding permissible yields for stablecoins seemed overly restrictive and somewhat vague, according to sources who reviewed the current draft. On Friday, Senators Angela Alsobrooks and Thom Tillis introduced new […]
Resolv stablecoin falls 70% following $80 million hack as attacker creates USR.
Issues with Resolv’s USR Stablecoin A stablecoin ideally holds a value of $1, but Resolv’s USR is currently trading at around 27 cents, and attempts to rectify this situation seem inadequate. On Sunday, at roughly 2:21 a.m. UTC, attackers took advantage of a vulnerability in Resolv’s USR stablecoin minting contract. They managed to create around […]