A new bill introduced by a deputy from President Lula’s political party proposes to allow only licensed entities to mine bitcoin in Brazil. The draft restricts cryptocurrency trading to licensed traders and establishes a daily tax on these activities. Lula’s Party Bill to Establish Restrictions on Bitcoin Mining, Cryptocurrency Trading While Brazil already has a
Bitcoin.com 2025-06-12 13:30
The XRP Apex 2025 summit became the stage for a striking difference of opinion within Ripple’s leadership, as CEO Brad Garlinghouse and President Monica Long offered opposing views on the role of memecoins in shaping the crypto industry. While Long emphasised the long-term ecosystem benefits that emerged from memecoin mania, Garlinghouse warned against their sustainability, describing most of them as “grossly overrated.” The split reflects a larger tension in the digital asset sector, where rapid adoption and speculative trading collide with calls for real-world use cases. Monica Long argues memecoins drive infrastructure and adoption Ripple President Monica Long framed memecoins as a growth catalyst for Web3, likening their impact to Ethereum’s 2017 ICO boom. Speaking onstage at the event, Long acknowledged the risks and scams associated with many of these tokens but emphasised their unexpected benefits. She credited memecoins with encouraging new wallet users, attracting developers, and accelerating blockchain infrastructure. “Memecoins really drove a lot of the ecosystem buildout,” Long explained, stating that despite their often unserious tone, many have resulted in tangible improvements to the crypto landscape. She argued that these tokens—frequently dismissed as hype-driven—should be recognised for their ability to spark innovation and onboard new participants. Her remarks came at a time when newer meme-based cryptocurrencies like Pepe, Bonk, and Shiba Inu continue to dominate trading volumes and social media trends, especially across platforms like crypto Twitter and Telegram. Brad Garlinghouse rejects memecoins as sustainable investment assets In contrast, Ripple CEO Brad Garlinghouse expressed serious doubts about the long-term value of memecoins. He described the sector as driven by unsustainable hype cycles, where attention and liquidity surge briefly before moving on. Garlinghouse warned that these speculative trends risk damaging the credibility of the broader crypto industry, especially when regulators or politicians use them as examples of market irresponsibility. Garlinghouse admitted that he had once misjudged Dogecoin, now one of the most liquid and well-known cryptocurrencies in the world. While he had previously criticised DOGE for lacking utility, he acknowledged that Elon Musk’s support had effectively embedded the coin into the global crypto conversation. Despite this concession, Garlinghouse reiterated Ripple’s focus on building long-term utility and customer-centric products. He argued that the company’s strategic direction remains rooted in real-world use cases and sustainable innovation—far from the volatile landscape of memecoin speculation. XRP-themed memecoin mention sends waves through the community The panel took an unexpected turn when Garlinghouse, with a smile, said that if he were to buy a meme token, it would be an “All the Money XRP” coin—a fictional XRP-themed memecoin. Long quickly challenged him to follow through on the purchase, joking that he now had a “homework assignment.” Though humorous, the exchange caused a buzz both on-site and online, briefly turning the spotlight onto the idea of an XRP-inspired meme token. This moment highlighted the cultural power of memecoins, even among established players typically focused on enterprise solutions and compliance frameworks. Division within Ripple mirrors wider memecoin debate in crypto The divide between Long and Garlinghouse at XRP Apex 2025 echoed broader conversations across the digital asset sector. On one side, supporters argue that memecoins offer a low-barrier entry into crypto, spark innovation, and drive engagement from younger demographics. On the other, critics suggest they distract from serious projects, inflate short-term hype, and provide ammunition for sceptics seeking to restrict or regulate decentralised technologies. The discussion also touched on political scrutiny, with Garlinghouse referencing how figures like US Senator Elizabeth Warren often highlight memecoins to push anti-crypto narratives. He warned that excessive focus on speculative tokens could hurt efforts to build trust and win over institutions. Nonetheless, both executives agreed on one point: Dogecoin’s staying power is no longer in question. What began as a joke has transformed into a cryptocurrency with deep liquidity and global awareness. And with memecoins continuing to trend across exchanges and social media platforms, their long-term influence—good or bad—remains part of the evolving crypto story. The post Ripple execs clash over memecoins at XRP Apex 2025 amid Dogecoin hype appeared first on Invezz
Invezz 2025-06-12 13:24
The Australian Securities and Investments Commission (ASIC) has imposed a ten-year industry ban on Glenda Maree Rogan , a financial adviser accused of misusing nearly $10 million in client funds.
BitDegree 2025-06-12 13:19
BitcoinWorld DeFi Development Pulls $1B S-3 Registration After SEC Flags Key Omission In the fast-paced world of cryptocurrency and decentralized finance (DeFi), companies often seek traditional funding avenues to fuel growth and expansion. This is why news regarding a significant player like DeFi Development (formerly known as Janover) pulling a major regulatory filing caught the attention of many in the crypto news sphere. The company recently withdrew its ambitious $1 billion S-3 registration application, a move that raises questions about regulatory readiness and future plans, especially concerning its stated interest in assets like Solana (SOL). What is an S-3 Registration and Why Did DeFi Development File One? Before diving into the specifics of the withdrawal, it’s helpful to understand what an S-3 registration is. Think of it as a shortcut for established public companies to register securities with the SEC (U.S. Securities and Exchange Commission). Unlike the more extensive S-1 filing required for initial public offerings (IPOs), an S-3 is available to companies that have been reporting to the SEC for a certain period and meet other eligibility criteria, signifying they are already transparent and compliant. Filing an S-3 allows a company to quickly raise capital through various offerings, like selling stock or bonds, without needing a brand-new, lengthy filing each time. It signifies a level of maturity and regulatory compliance that makes accessing public markets more efficient. DeFi Development filing an S-3 indicated its intention to become a more traditional, publicly accessible company, leveraging capital markets for potentially significant funding. A $1 billion registration is a substantial amount, suggesting considerable growth plans. For a company deeply involved in the DeFi and crypto space, this move represented a bridge between the decentralized world and traditional finance, aiming to tap into a broader pool of investors. The SEC’s Stance: Why Was the Application Deemed Ineligible? The core reason for DeFi Development withdrawing its S-3 was a determination by the SEC that the application was ineligible. This isn’t a rejection based on the company’s business model or assets like Solana , but rather a finding that the filing itself was incomplete or non-compliant with specific regulatory requirements for the S-3 form. According to reports, the ineligibility stemmed from the absence of a required internal controls report. The SEC has stringent rules about the financial reporting and internal controls of public companies, designed to protect investors by ensuring the accuracy and reliability of financial statements. For an S-3 to be effective, the filing company must meet all reporting requirements, including demonstrating effective internal controls over financial reporting (ICFR). The lack of this specific report meant that, in the SEC’s view, DeFi Development did not meet a fundamental prerequisite for using the streamlined S-3 process. It’s a procedural hurdle, but a significant one, highlighting the regulator’s focus on foundational corporate governance and financial reporting standards, even for companies with a digital asset focus. Understanding the Missing Internal Controls Report What exactly is this crucial internal controls report? It’s primarily related to Section 302 and 404 of the Sarbanes-Oxley Act (SOX). SOX was enacted after major accounting scandals (like Enron and WorldCom) to improve corporate governance and accountability. Section 302 requires senior officers (CEO and CFO) to certify the accuracy of financial reports and the effectiveness of internal controls. Section 404 requires management and the external auditor to report on the adequacy of the company’s internal control over financial reporting (ICFR). For a company seeking to use an S-3, demonstrating compliance with these requirements, typically through filed reports and certifications, is essential. The absence of this report suggests that DeFi Development either had not yet established or adequately documented its ICFR to the SEC’s satisfaction, or that the required report was simply not included in the filing package. This isn’t just a bureaucratic checkbox; strong internal controls are vital for preventing fraud, ensuring financial data integrity, and providing investors with confidence in the company’s reported performance. The SEC’s insistence on this report underscores its role as a guardian of investor protection within regulated markets. The Solana Connection: How Funds Were Intended for SOL One particularly interesting detail in the original plan was the intention to use some of the raised funds to purchase Solana (SOL). This highlights DeFi Development’s strategic view of incorporating significant digital asset exposure into its operations or investment strategy. Solana , known for its high throughput and growing ecosystem, is a popular asset within the crypto space. At the end of May, the company already held a substantial amount: 621,313 Solana tokens. At current market prices, this represents a considerable holding, indicating their existing commitment to the asset. The plan to use a portion of the $1 billion raise for further SOL purchases suggests they saw opportunities for growth or strategic use of Solana within their business model or investment portfolio. The withdrawal of the S-3 means this specific funding mechanism for acquiring more Solana is now on hold. While the company could potentially use other funds or methods to acquire SOL, the large-scale purchase envisioned through the S-3 raise is delayed until the regulatory hurdles are cleared. What This Means for DeFi Development and Future Plans For DeFi Development , the immediate impact is the delay in accessing the public capital markets via the S-3 mechanism. This doesn’t necessarily mean their funding plans are canceled, but the process will take longer. The company has stated its intention to refile in the future. This means they will need to address the specific issue cited by the SEC – the missing internal controls report. This will likely involve: Establishing or strengthening their internal controls over financial reporting. Documenting these controls thoroughly. Obtaining the necessary certifications and potentially external audits related to ICFR. Ensuring all required reports are included in the subsequent filing. Refiling will require time and resources, potentially pushing back any plans that were contingent on the $1 billion raise, including the significant purchase of Solana . It’s a setback, but one that is potentially fixable if the company can quickly meet the SEC’s requirements. Navigating the Regulatory Waters: Broader Implications for Crypto News This incident offers a valuable case study for the broader crypto news landscape and companies operating within it. It underscores the increasing scrutiny that crypto-adjacent businesses face when interacting with traditional financial regulations. Key takeaways include: Regulatory Readiness is Paramount: Companies looking to bridge the gap between crypto and traditional finance must ensure they meet all standard regulatory requirements, not just those specific to digital assets. SEC Focus on Fundamentals: The SEC is clearly focused on core financial reporting, governance, and internal controls, regardless of the company’s underlying technology or assets like Solana . Procedural Hurdles Can Cause Delays: Even established companies can face significant delays if filings are incomplete or miss required documentation. Transparency and Compliance are Key: Building robust internal processes and ensuring transparency in reporting are essential for navigating the regulatory environment successfully. For investors following crypto news , this event highlights the importance of looking beyond just the digital assets a company holds or plans to acquire (like Solana ) and considering the company’s operational and regulatory maturity, especially if they plan to access public markets. Conclusion: A Temporary Setback or a Warning Sign? DeFi Development’s withdrawal of its $1 billion S-3 registration is undoubtedly a setback, primarily due to a procedural issue flagged by the SEC regarding internal controls. While the company plans to refile, the incident delays its access to significant capital and its plans to acquire more Solana . This event serves as a clear reminder that companies operating at the intersection of crypto and traditional finance must adhere strictly to established regulatory frameworks. The SEC’s focus on fundamental requirements like internal controls signals that regulatory compliance is not a minor detail but a foundational necessity for accessing U.S. public markets. The crypto industry continues to evolve, and successful navigation will increasingly depend on robust corporate governance and a deep understanding of, and compliance with, existing financial regulations. To learn more about the latest crypto regulation trends, explore our article on key developments shaping SEC actions and institutional adoption. This post DeFi Development Pulls $1B S-3 Registration After SEC Flags Key Omission first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-06-12 12:30
Two US senators, Elizabeth Warren and Richard Blumenthal , have asked Meta CEO Mark Zuckerberg to provide more details about the company’s plans to launch a stablecoin .
BitDegree 2025-06-12 12:12
On Thursday, the US Senate will hold five procedural voting sessions toward passing the GENIUS Act, a landmark stablecoin bill to establish the country’s first regulatory framework for dollar-pegged digital tokens. The Senate’s scheduled agenda, confirmed by the Republican Cloakroom Staff, will include roll call votes beginning at 12:30 PM ET. The votes are slated to determine the fate of both amendments and the legislation, known as S.1582 or the GENIUS Act, which stands for “Guaranteeing Every Nation a United and Inclusive Stablecoin.” Senate five-vote procedure precedes law passage According to Senate session records, the confirmed voting schedule included the confirmation of William Long to lead the Internal Revenue Service, followed by actions tied directly to the GENIUS Act. Specifically, senators will vote on whether to table Senator John Thune’s amendment, waive the Budget Act in relation to Senator Jeff Merkley’s budget point of order, adopt Senator Bill Hagerty’s substitute amendment, and invoke cloture on the final bill as amended. According to Fox Business correspondent Eleanor Terrett, Thursday’s success will open the floor for a full Senate vote next week. “ We’ll know on Thursday afternoon when leadership puts out the agenda for next week ,” Terrett said on X. 🚨UPDATE: Okay, SO — a couple more procedural votes tomorrow on Democratic objections to the bill, adoption of the Hagerty amendment and then the last cloture vote on the whole bill, which sets up a final passage vote early next week. We’ll know more tomorrow afternoon when… https://t.co/oda4FdX7gv — Eleanor Terrett (@EleanorTerrett) June 12, 2025 Wednesday’s preliminary vote saw 68-30 support to move forward with Hagerty’s substitute amendment, which introduced several changes to bring Senate Democrats to the table. Hagerty, a Republican from Tennessee and the bill’s chief architect said the amendments were a “common-sense, bipartisan approach to regulating stablecoins.” He told Senators that the amended legislation has “enough oversight” to prevent digital financial systems from operating without regulatory clarity. Democrats divided, Senator Warren leads opposition Senator Elizabeth Warren (D-Mass.), a senior member of the Senate Banking Committee, is leading a group of liberals in opposing the GENIUS Act. On Wednesday, Warren lambasted the bill and called it “weak and dangerous.” “ This legislation is riddled with loopholes and contains weak safeguards for consumers, national security, and financial stability ,” Warren said on the floor. She accused fellow Democrats of ceding too much ground to Republicans. “ Over the past few months Democrats seem to have forgotten that we actually have some power. This is an opportunity to use that power .” Warren specifically attacked the decision to move forward without guarantees of amendment votes, blaming the leadership for breaking promises. Still, eighteen Democrats broke with Warren and Minority Leader Chuck Schumer to advance the substitute amendment. Left-wing votes in favor came from Senators Andy Kim and John Hickenlooper, who had previously voted against advancing the bill. If no amendment deal or unanimous time agreement emerges, the Senate could hold a final vote on the bill as early as Monday. US Bancorp sets sights on stablecoin market position Outside Capitol Hill, at the Morgan Stanley US Financials Conference on Wednesday, Bancorp CEO Gunjan Kedia revealed that her company is reevaluating its stablecoin ambitions in light of recent congressional developments. Kedia said that interest in the bank’s institutional crypto custody business, which launched in 2021 but faltered during the Biden administration, has been revived under the current crypto-friendly regulatory environment. “ The product didn’t really take off because the regulatory regime at that point was very uncertain for large institutional investors ,” she explained. “ That product is back, and we are very able to provide it .” Kedia described the “bigger conversation” now as being about payments involving stablecoins. She said the fifth largest bank in the US is “studying and watching,” and may create its own stablecoin with the infrastructure necessary to support such a product. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Cryptopolitan 2025-06-12 11:48
William Duplessie and John Woeltz , charged in New York for allegedly kidnapping a man to steal his Bitcoin BTC, have pleaded not guilty .
BitDegree 2025-06-12 11:20
Senator Cynthia Lummis believes reconciliation is the best strategy at the moment to end the unfair double tax on digital assets. In an X post , she commented, “Reconciliation is our chance to fix crypto provisions that unfairly double tax bitcoin and digital assets.” In another post, Lummis argued that the current US tax system is antiquated and only stifles growth in the crypto industry. Cynthia Lummis argues that lawmakers should consider reconciliation Lummis argued that Bitcoin miners will particularly bear the brunt of double taxation, being hit once on block rewards and again when they sell their coins. She added that DeFi users also stand to face multiple taxable events without realizing any profits. While she did not directly mention which unfair tax regulations would cause this, analysts peg her comments to the 2021 Infrastructure Investment and Jobs Act. The act categorizes all crypto miners and developers as “brokers.” That means they must report details they often don’t have, such as user identities and transaction data, and are subject to more taxation. Lummis has asked Congress to resolve the problem using reconciliation, allowing tax changes to pass with a simple majority. She would like the “broker” term adjusted to alleviate the burden on digital asset miners and developers. The changes could include exemptions for non-custodial actors like developers and protocol operators. Aside from Lummis, some miners also voiced their concerns about the broker definition, arguing that it inaccurately portrays their role since they neither manage user transactions nor control customer funds. GENIUS Act passed a key vote in the US Senate The Republican senator has also shown her support for the Guiding and Establishing National Innovation for US Stablecoin or GENIUS Act , which recently passed a key vote in the US Senate. The bill is moving to the next stage after a 68-30 vote. On Wednesday, Majority Leader John Thune called his fellow lawmakers to support the bill. He raised some of President Donald Trump’s main talking points on cryptocurrencies, particularly the idea that the legislation would solidify the US position as the “crypto capital of the world.” He added that the act would help grow crypto adoption in the country. Senator Lummis appreciated Thune’s speech on the Senate floor on Wednesday, acknowledging that he understands crypto regulation’s vitality and even praised him for “visionary leadership.” Speaking on the Senate floor, however, Massachusetts Senator Elizabeth Warren criticized the GENIUS Act, stating that key issues remained unresolved due to the chamber’s failure to consider several bipartisan amendments. She also spoke on the president’s ties to his family crypto platform, World Liberty Financial, voicing the concerns of many other democrats. Meanwhile, the CLARITY Act is still under discussion. Thune still believes they could do more for the crypto industry, throwing his weight behind the bill to define the market structure for crypto assets. On Tuesday, the House Financial Services lawmakers voted 32 to 19 to send the CLARITY Act to a full floor vote shortly after the Agriculture Committee approved it with a 47–6 vote. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Cryptopolitan 2025-06-12 11:11
Syrian nationals can now access Binance’s crypto services after the exchange removed the country from its list of prohibited jurisdictions. The announcement, made through a June 12 press release, followed US President Donald Trump’s decision to suspend sanctions on Syria in May. For the first time since 2019, residents in Syria can use spot and futures trading, staking, Binance Pay for cross-border transactions, and crypto education materials in Arabic. “Financial freedom should be for everyone,” Binance said in its statement. Binance resumes trading activity in Syria In its statement , Binance said millions of Syrians have a high interest in crypto because of its economic instability and high inflation. Syria, with a population of around 24 million and an estimated 8 to 15 million more living abroad, relies on remittances and informal money networks to survive repeated currency devaluations. “ These challenges likely contributed to Syria’s consistently high interest in Crypto. The country ranked among the top 10 countries globally for crypto-related search activity as recently as 2021 ,” the company explained. According to Reuters, in August 2019, Binance halted its services in Iran after blacklisting the country as a “hard sanctioned” jurisdiction. “ It is cheaper to ban all Syrians from the financial system than to audit individual transactions. This is the true meaning of self-centered collective punishment ,” reckoned Syrian Professor in Economics, Karam Shaar in a 2021 interview, speaking on Binance closing locals’ accounts. On resuming its services today, the exchange has promised to “offer real solutions that support Syria’s economic recovery.” President Trump lifted US sanctions on Syria after diplomatic plea As reported by Cryptopolitan on May 13, Trump announced to a gathering of Gulf leaders and business elites that his administration would lift all sanctions on Syria. Speaking in the presence of Turkish President Recep Tayyip Erdoğan and Saudi Crown Prince Mohammed bin Salman, Trump told the leaders it was an opportunity for Damascus to “start afresh.” Still, some American officials are not convinced about Syria’s internal political stability. During Trump’s Middle East tour last month, Secretary of State Marco Rubio warned during a Senate hearing, stating that the country could be “weeks, not many months, away from potential collapse and a full-scale civil war of epic proportions.” Rubio mentioned the post-President Bashar al-Assad’s removal from power last December, when Islamist-led factions took control of Damascus after a decade-long civil war. The secretary talked about attacks targeting minority groups, including the Alawite and Druze communities, as a sign of sectarian violence that “won’t go away.” He asked the US government to support Syria’s transitional leadership and prevent the country from any further political disputes. According to foreign policy analyst Mike Benz, the deal was conditional on the transitional Syrian government working directly with US corporations. American firms, including telecom giant AT&T, energy major Chevron, and agribusiness groups, are reportedly looking to enter the Syrian market as part of post-conflict reconstruction agreements. On the Julian Dorey Podcast, Benz questioned the ethics and contradictions embedded in the approach. “ You’re simultaneously waging a war on drugs while your government is pumping up the world’s largest drug zone and sending soldiers off to die ,” he said, referencing cases where US-backed operations used narcotics trafficking as a means to “fund regime-change wars.” He also talked about the involvement of legal counsel like George Foote, an attorney affiliated with both AT&T and the US Institute of Peace (USIP), a government-affiliated body that previously coordinated with USAID on controversial agricultural projects. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Cryptopolitan 2025-06-12 10:55
A former U.S. Securities and Exchange Commission (SEC) lawyer has shed light on the recent rejection of the proposed settlement between Ripple and the SEC in the ongoing XRP lawsuit. According to the legal expert, Judge Analisa Torres’ decision to deny the joint request goes beyond mere “procedural missteps,” indicating a deeper substantive issue that … Continue reading "Ex-SEC Lawyer: Judge Torres Unlikely to Issue New XRP Ruling Soon" The post Ex-SEC Lawyer: Judge Torres Unlikely to Issue New XRP Ruling Soon appeared first on Cryptoknowmics-Crypto News and Media Platform .
Cryptoknowmics 2025-06-12 10:31
BitcoinWorld Crucial US Stablecoin Regulation Bill, GENIUS Act, Faces Final Senate Vote Next Week The landscape of crypto regulation US is on the cusp of a potentially transformative moment. A significant piece of stablecoin legislation, known as the GENIUS Act, has just cleared a critical hurdle in the U.S. Senate and is now set for a final vote next week. This development could reshape how stablecoins operate within the United States, impacting everything from innovation to consumer protection. Understanding the Path of the US Stablecoin Regulation Bill For those following the evolving rules around digital assets, the progress of any major stablecoin bill is big news. This particular bill, the GENIUS Act, recently saw the U.S. Senate take a decisive step. They voted 68-30 to invoke cloture on the bill. What does invoking cloture mean? Essentially, it’s a parliamentary procedure used in the Senate to end debate and proceed to a vote. This successful cloture vote signals strong bipartisan support, or at least a desire to move the process forward, clearing the way for a final vote on the bill’s passage. The final vote is currently scheduled for next Monday. Key Provisions of the GENIUS Act: What Does This Stablecoin Legislation Propose? The GENIUS Act isn’t just a general statement about stablecoins; it lays out specific requirements aimed at bringing clarity and stability to the sector. Understanding these details is crucial for anyone involved with or interested in the future of digital finance in the U.S. Here are some of the core requirements proposed by the bill: Licensing Requirements: The bill mandates that entities wishing to issue stablecoins must obtain a specific license. This moves stablecoin issuance from a less regulated space into a framework requiring formal approval and oversight. 100% Reserve Requirements: A cornerstone of the bill is the requirement for stablecoin issuers to maintain reserves equal to 100% of the value of the stablecoins they have issued. This aims to ensure that every stablecoin in circulation is fully backed by assets, providing greater confidence in its stability. Annual Audit Requirements: For larger stablecoin issuers, specifically those with a market capitalization of $50 billion or more, the bill introduces mandatory annual audits. These audits would verify that the required reserves are being maintained and that the issuer is complying with other regulatory standards. Regulation on Foreign Issuers: The GENIUS Act also addresses stablecoins issued by foreign entities but used within the United States. It proposes regulations to cover these issuers, aiming to create a level playing field and prevent regulatory arbitrage. Why the GENIUS Act Matters for Crypto Regulation US This stablecoin bill is widely seen as a significant piece of potential US stablecoin regulation. Its passage could establish a foundational framework for how these digital assets are treated legally and financially in the country. For years, the crypto industry has sought regulatory clarity in the U.S., and a dedicated stablecoin law could provide a benchmark. Potential Impacts: Increased Trust and Adoption: Clear rules and strong reserve requirements could make stablecoins more appealing to traditional financial institutions and mainstream users, potentially boosting adoption. Innovation within Bounds: While regulation adds constraints, a clear framework can also provide certainty for businesses to innovate within defined boundaries. Market Structure: The requirements could favor larger, more established players who can more easily meet the licensing, reserve, and audit demands. Global Influence: Given the size of the U.S. market, this legislation could influence regulatory approaches in other countries. However, challenges remain. Some in the crypto community worry that stringent requirements could stifle innovation or create barriers to entry for smaller projects. The specifics of implementation and enforcement will also be key. What’s Next for This Stablecoin Legislation? All eyes will now be on the Senate floor next Monday for the final vote on the GENIUS Act. The successful cloture vote suggests a strong possibility of passage, but nothing is certain until the final tally is cast. If passed by the Senate, the bill would still need to navigate the House of Representatives and ultimately be signed into law by the President. However, reaching this final Senate vote is a major step forward for US stablecoin regulation. Conclusion: A Pivotal Moment for Stablecoins The impending final Senate vote on the GENIUS Act marks a pivotal moment for stablecoins and the broader crypto ecosystem in the United States. This comprehensive stablecoin bill, with its focus on licensing, reserves, and audits, represents a significant move towards establishing clear and robust stablecoin legislation. Whether it passes in its current form or not, its progress highlights the increasing urgency policymakers feel in addressing the regulatory status of stablecoins. The outcome of next week’s vote will undoubtedly shape the future trajectory of these crucial digital assets in the U.S. To learn more about the latest crypto regulation trends, explore our article on key developments shaping crypto regulation in the U.S. This post Crucial US Stablecoin Regulation Bill, GENIUS Act, Faces Final Senate Vote Next Week first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin World 2025-06-12 10:30
Disney and Universal have taken legal action against Midjourney , an artificial intelligence (AI) image generation company, for allegedly using copyrighted characters without permission .
BitDegree 2025-06-12 10:15
Syrian nationals can now trade on Binance
