BITPRISMIA
US banking groups are urging Congress to close a loophole in the GENIUS Act that allows stablecoin issuers to pay interest to holders through affiliates, warning it could lead to significant bank deposit outflows.
US Democratic senators have raised concerns about potential conflicts of interest involving the Trump family's ties to the stablecoin USD1, urging regulatory scrutiny to ensure ethical governance and financial stability.
South Korea is advancing legislation for Security Token Offerings (STOs) and a won-pegged stablecoin, led by lawmaker Min Byeong-dug, to create a regulated digital asset framework and enhance the country's digital economy.
Former President Donald Trump has influenced House Republicans to reconsider the GENIUS Act and CLARITY Act, signaling a push for pro-crypto legislation, despite concerns from DeFi experts about potential regulatory overreach.
The Ethereum price is approaching $4,000, driven by the anticipated passage of the GENIUS Act, which aims to establish a regulatory framework for stablecoins, and increasing institutional inflows.
The Bank of Korea (BOK) expresses concerns about non-bank entities issuing stablecoins, warning of potential risks to the financial system, while also shifting focus from its CBDC project to stablecoin discussions.
The Bank of Korea (BOK) has halted its Central Bank Digital Currency (CBDC) project due to a shift in focus towards stablecoin regulation, leaving participants without a long-term roadmap.
South Korea has lifted its 14-year ban on kimchi bonds to address foreign exchange liquidity issues and stabilize the won, driven by significant outflows into overseas stocks and stablecoins.