In a striking turn of events, Ripple’s stablecoin, RLUSD, has experienced a groundbreaking expansion of 29% in its circulating supply as of June 8, marking both a numerical and symbolic milestone. With an additional $72.5 million injected into the market, RLUSD has surpassed the $300 million threshold for the first time, closing at a robust
Regulation
OpenSea’s tangible resurgence in user activity, particularly following the launch of its OS2 platform, has ignited a flicker of hope for the beleaguered NFT market. The metrics tell a story of revival: a staggering 44% increase in monthly active users, surging to 467,000 in May. This uptick marks the platform’s most significant growth in over
The appointment of Michelle “Miki” Bowman as the Vice Chair for Supervision at the Federal Reserve cannot be dismissed as mere bureaucratic footnotes. This confirmation, passed by a razor-thin margin of 48-46, is a clear indication of a shift towards fostering responsible innovation within one of the most dynamic sectors of the economy—digital assets. Senator
In an era where the digital economy is booming, Hong Kong is positioning itself as a frontrunner in the global cryptocurrency arena by legalizing crypto derivatives. This monumental shift, spearheaded by senior officials and financial regulators, unveils a new realm of opportunities for professional investors. With Bitcoin futures and options trading now on the horizon,
In a world where investment landscapes are continuously evolving, the recent regulatory clarity surrounding staking within exchange-traded funds (ETFs) has opened up a plethora of opportunities for investors. The U.S. Securities and Exchange Commission (SEC) recently established that staking rewards do not amount to a securities sale, provided that the customer retains ownership of their
Dubai, often synonymous with extravagance and innovation, is now making waves in the cryptocurrency arena with groundbreaking partnerships that signal a determined shift towards digital asset integration. The Dubai government is not merely dipping its toes into the world of crypto; it is diving headfirst, spurred by its ambition to become a global leader in
In an era when nations are wrestling with the consequences of energy shortages and economic instability, Pakistan’s recent decision to allocate 2,000 megawatts of its power supply to Bitcoin mining stands out as both audacious and baffling. The International Monetary Fund (IMF) has made it abundantly clear that it has serious reservations about this scheme.
The United States Securities and Exchange Commission (SEC) has taken a watershed step in its regulatory approach towards cryptocurrency, particularly in the realm of crypto staking. On May 29, 2023, the SEC’s Division of Corporation Finance released new guidance declaring that several common forms of staking do not fall under securities laws. This clarification mostly
In a political landscape often marred by division, the introduction of the Digital Asset Market Clarity Act on May 29 stands as a beacon of bipartisan cooperation that could very well redefine the future of cryptocurrency regulation in the United States. Championed by House Financial Services Committee Chairman French Hill, this 249-page bill seeks to
In a striking policy maneuver, the U.S. Department of Labor (DOL) has rescinded a previous compliance guideline that imposed significant limitations on fiduciaries considering cryptocurrency investments for 401(k) plans. The May 28 announcement marks a notable turnaround from the 2022 “Compliance Assistance Release No. 2022-01,” which urged fiduciaries to exhibit “extreme care” before contemplating digital