Ripple Labs’ newest stablecoin product has received final approval from a prominent New York regulator. In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS). “This […]
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Hester Peirce, the crypto-friendly commissioner at the Securities and Exchange Commission (SEC), says US regulators can do three things to help the digital asset industry. In a new interview on Fox Business, Peirce argues that the first step is to stop trying to prevent crypto from accessing the services it needs to move forward, like […]
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Coinbase chief executive Brian Armstrong is lashing out against a U.S. Securities and Exchange (SEC) commissioner who is up for re-nomination. Armstrong argues on the social media platform X that Caroline A. Crenshaw has been “a failure” as commissioner and should be voted out. “She tried to block the Bitcoin ETFs (exchange-traded funds) and was […]
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The U.S. Treasury Department is acknowledging the benefits of asset tokenization and comparing Bitcoin (BTC) to gold. In a new report, the Treasury Department calls the top crypto by market cap a store-of-value asset boosted by speculators. “The use case of digital assets continues to evolve, but interest has proceeded along two main tracks. Primary […]
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A former Fed president is warning that the proposed Bitcoin (BTC) strategic reserve concept won’t yield any positive benefits for the American people. Bill Dudley, former president of the Federal Reserve Bank of New York and ex-vice chair of the Federal Open Market Committee (FOMC), says in a new opinion piece on Bloomberg that the […]
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The U.S Treasury Department’s Financial Stability Oversight Council (FSOC) says the role of stablecoins as a bridge between the digital asset market and the broader financial system warrants continued attention. In its 2024 annual report, the FSOC says that stablecoins – commodity or currency-pegged cryptocurrencies – do not have adequate safeguards against risks and failures. […]
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Top US-based crypto exchange Coinbase’s Freedom of Information Act (FOIA) requests are uncovering more instances where the U.S. Federal Deposit Insurance Corporation (FDIC) asked banks to freeze crypto services. In a new thread on the social media platform X, Coinbase chief legal officer Paul Grewal says the revealed information confirms the notion that the US […]
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President-elect Donald Trump announced on Thursday that veteran Silicon Valley venture capitalist David Sacks will serve as his White House AI (artificial intelligence) and Crypto Czar. Trump notes on Truth Social that Sacks will guide administration policy in both areas, which the former president says are “critical to the future of American competitiveness.” “David will […]
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U.S. Federal Reserve Chair Jerome Powell thinks Bitcoin (BTC) is more akin to gold than the US dollar. At the New York Times DealBook summit this week, Powell was asked whether the public’s interest in BTC represents a lack of faith in the US dollar. Says the Fed chair, “I don’t think that’s how people […]
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Circle announced this week that USDC became the first stablecoin to gain compliance with new Canadian digital asset regulations. Canada’s new regulations call for delisting noncompliant stablecoins after December 31st. Circle’s compliance means USDC, which aims to maintain a 1:1 peg with the US dollar, can trade on crypto exchanges in the Canadian market, according […]
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