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Stablecoin
The US Securities and Exchange Commission (SEC) has targeted Ripple‘s proposed stablecoin in its latest court filing against the company. … Continue reading
The post SEC labels Ripple’s planned stablecoin as an ‘unregistered crypto asset’ in court filings appeared first on Finbold.
Visa headquarters in Foster City, California. (Wonderlane/Creative Commons)
The monitoring system would help Tether identify risky crypto addresses that could be used for bypassing sanctions or illicit activities like terrorist financing, the company said.
The startup is one of the first to build tokenized tech for Bitcoin’s Runes era.
U.S. House Representative Maxine Waters (D-California), the top Democrat on the House Financial Services Committee, told Bloomberg Wednesday “We are on our way to getting a stablecoin bill in the short run.”
Cryptocurrency data provider CryptoQuant has said that holders of Ethena Labs’ USDe stablecoin should monitor the project’s reserve fund to avoid risks related to the potential of a negative funding rate.
“A lot of things can go wrong,” in Ethena’s yield-generation strategy, said Folkvang CEO Mike van Rossum.
The U.S. congressional effort to establish regulations for stablecoins has become an increasing longshot for passage this year, but the lawmakers who’ve pushed legislation the farthest reportedly had a meeting with Senate Majority Leader Chuck Schumer about it, Punchbowl News reported.
Lawmakers on both sides of the aisle urged the need for new crypto laws on Tuesday, as Deputy Treasury Secretary Wally Adeyemo asked for “additional tools” to effectively crack down on illicit crypto financing.
The window is narrowing for legislation to set up rules for stablecoin issuers in 2024, but the retiring chairman of the House Financial Services Committee says it can be done.