Cynthia Lummis is one of the key Republicans responsible for pushing members of Congress to pass a crypto market structure bill under consideration in the Senate. Wyoming Senator Cynthia Lummis, one of the most outspoken advocates for digital assets in the current session of the US Congress, will leave office in 2027. In a Friday X post, Lummis announced that she would not seek reelection to the Senate in 2026. She was elected to a six-year term and assumed office in January 2021, quickly establishing herself as a blockchain and Bitcoin-focused politician who later aligned with US President Donald Trump’s crypto agenda. “Deciding not to run for reelection does represent a change of heart for me, but in the difficult, exhausting session weeks this fall I’ve come to accept that I do not have six more years in me,” said Lummis. “I am a devout legislator, but I feel like a sprinter in a marathon. The energy required doesn’t match up.” Read more
Expanding the stablecoin yield prohibition to include the application layer is an anti-competitive practice, industry advocacy groups say. The Blockchain Association, a non-profit crypto advocacy organization, wrote a letter to the US Senate Committee on Banking, signed by over 125 crypto industry groups and companies, opposing the ban on third-party service providers and platforms offering customer rewards to stablecoin holders. Expanding the prohibition on stablecoin issuers sharing yield directly with customers, outlined in the GENIUS stablecoin regulatory framework, to include third-party service providers stifles innovation and leads to “greater market concentration,” the letter said. The letter compared the rewards offered by crypto platforms to those offered by credit card companies, banks and other traditional payment providers. Read more
Expanding the stablecoin yield prohibition to include the application layer is an anti-competitive practice, industry advocacy groups say. The Blockchain Association, a non-profit crypto advocacy organization, wrote a letter to the US Senate Committee on Banking, signed by over 125 crypto industry groups and companies, opposing the ban on third-party service providers and platforms offering customer rewards to stablecoin holders. Expanding the prohibition on stablecoin issuers sharing yield directly with customers, outlined in the GENIUS stablecoin regulatory framework, to include third-party service providers stifles innovation and leads to “greater market concentration,” the letter said. The letter compared the rewards offered by crypto platforms to those offered by credit card companies, banks and other traditional payment providers. Read more
Hungary’s MVW Group on Friday announced the deal with E.ON fell through because the Romanian government did not support the takeover.
FDIC reveals a path for bank-issued stablecoins under the GENIUS Act as corporate BTC treasuries expand, Anchorage buys Securitize’s RIA arm and Bhutan taps reserves. Washington is inching closer to putting bank-issued stablecoins on a clearer regulatory track. This week, the Federal Deposit Insurance Corp. (FDIC), the US agency that oversees bank safety and insures deposits, laid out a proposed framework for how insured banks, via subsidiaries, could seek approval to issue payment stablecoins under the GENIUS Act, a move that could reshape who gets to mint digital dollars and under what rules. That same push toward institutionalization is also evident elsewhere in the crypto business landscape. Despite Bitcoin’s (BTC) lackluster performance, corporate treasuries are still in accumulation mode, with American Bitcoin vaulting past ProCap in the race to stack BTC. Read more
FDIC reveals a path for bank-issued stablecoins under the GENIUS Act as corporate BTC treasuries expand, Anchorage buys Securitize’s RIA arm and Bhutan taps reserves. Washington is inching closer to putting bank-issued stablecoins on a clearer regulatory track. This week, the Federal Deposit Insurance Corp. (FDIC), the US agency that oversees bank safety and insures deposits, laid out a proposed framework for how insured banks, via subsidiaries, could seek approval to issue payment stablecoins under the GENIUS Act, a move that could reshape who gets to mint digital dollars and under what rules. That same push toward institutionalization is also evident elsewhere in the crypto business landscape. Despite Bitcoin’s (BTC) lackluster performance, corporate treasuries are still in accumulation mode, with American Bitcoin vaulting past ProCap in the race to stack BTC. Read more