U.S. Treasury Department Starts Work on GENIUS, Gathering Views on Illicit Activity
The new stablecoin law called for the Treasury engagement on detecting illicit crypto activity, so the department is opening a comment period.
Policy
U.S. Fed Officially Scraps Specialist Group Meant to Oversee Crypto Issues
The Federal Reserve has shuttered the Novel Activities Supervision Program it built in 2023 that was — in part — meant to focus on banks’ crypto activity.
Most Illicit On-Chain Activity Now Involves Stablecoins: FATF
Mass adoption of stablecoins will amplify illicit finance risks, particularly when it is handled unevenly across difference jurisdictions, the FATF said
Texas Ready for $10M Bitcoin Purchase After Governor Signs Bill for State Reserve
The Lone Star State appears as if it will be the first in the U.S. to hold bitcoin.
Bankrupt Crypto Exchange FTX Slams Three Arrows Capital’s $1.53B Claim: “3AC Is Owed Nothing”
The $1.53 billion 3AC’s liquidators say the defunct hedge fund is owed is a steep increase from their initial claim for $120 million.
Trump’s Crypto Ties Still Toxic With Some Dems, Including One Seen as Industry Ally
As the Senate shifts from stablecoins to market structure, Trump’s digital assets businesses remain in the spotlight, drawing a new bill from Senator Schiff.
UK to Propose Restrictions on How Banks Can Deal With Crypto Next Year
The U.K.’s incoming rules will be on the more restrictive end, said David Bailey, the executive director of prudential policy at the Bank of England.
Cynthia Lummis Proposes Artificial Intelligence Bill, Requiring AI Firms to Disclose Technicals
Sen. Cynthia Lummis’ RISE Act sets new transparency standards for AI liability protection, mandating disclosures without forcing companies to open-source their models.
Donald Trump: Administration Will Work Toward ‘Clear and Simple’ Crypto Frameworks
The U.S. president addressed an annual Coinbase event.
Trump’s CFTC Pick Says U.S. Can Boost Crypto Innovation and Shield Consumers
Brian Quintenz told senators at his confirmation hearing for CFTC chairman that Congress needs to ensure “full promise” of digital assets’ potential.