Stablecoin Market Sees $4B Inflows Post-GENIUS Act as Bitcoin ETF Plans Face Regulatory Hurdles in South Korea
Main Idea
The GENIUS Act has spurred $4 billion in stablecoin inflows, while South Korean firms withdraw Bitcoin ETF plans due to regulatory hurdles, and Injective Protocol advances institutional blockchain adoption.
Key Points
1. Stablecoin market capitalization grew by 26.9% since January, surpassing $264 billion post-GENIUS Act, with institutional-grade stablecoins like USDtb and USDW being introduced.
2. Christie’s International Real Estate has embraced cryptocurrency, closing high-value property deals, including a $65 million Beverly Hills sale, with over $1 billion in crypto-accepting properties.
3. South Korean asset managers, including Mirae Asset and KB Asset Management, withdrew Bitcoin ETF proposals due to regulatory challenges, despite earlier political promises for Bitcoin spot ETFs.
4. Injective Protocol launched its Digital Asset Treasury (DAT) platform, tokenizing equity stakes of SharkLink Gaming, enhancing institutional blockchain adoption and DeFi integration.
5. The GENIUS Act and regulatory advancements are fostering institutional confidence in stablecoins, while regulatory clarity remains a critical factor for crypto ETF approvals.
Description
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