Crypto users would specify what onchain action they want and then click “OK” or “Cancel” after seeing a transaction simulation of that action. Ethereum co-founder Vitalik Buterin has suggested using “transaction simulations” and other similar features to improve the user experience and security of Ethereum wallets and smart contracts. In a post to X on Sunday, Buterin argued that security and user experience are not separate fields, as both revolve around user intent — ensuring protocols are doing what users intend them to do. Buterin said an intent security approach could involve designing systems that double-check user actions, and could apply to Ethereum wallets and smart contracts, but also apply more broadly, such as operating systems and hardware. Read more
Staff said the US regulator would "not object" to broker-dealers counting stablecoin holdings toward their net capital requirements. The US Securities and Exchange Commission (SEC) staff last week clarified that broker-dealers can apply a 2% “haircut” to their stablecoin holdings without objection from the SEC. Previously, broker-dealers were uncertain whether to apply a 100% haircut to their dollar-pegged stablecoins, meaning that they did not count the tokens toward their net capital under existing regulations. The clarification came in the form of a posting by the staff of the SEC’s Division of Trading and Markets as a “Frequently Asked Questions Relating to Crypto Asset Activities and Distributed Ledger Technology.” Read more
The GENIUS Act-compliant stablecoin is geared toward institutional investors in Asia features a programmable layer for agentic AI commerce. Digital asset company New Frontier Labs has partnered with BitGo Bank & Trust National Association, the entity that crypto infrastructure company BitGo will use to issue and provide custodial services for the FYUSD stablecoin, a dollar-pegged token for Insitutional investors in the Asia region. BitGo’s announcement said FYUSD is compliant with the GENIUS Act stablecoin regulatory framework. The regulations include 1:1 backing with cash deposits held by a custodian or short-term US government debt instruments, anti-money laundering (AML) requirements and know-your-customer (KYC) checks. The company also developed “Fypher,” a suite of stablecoin infrastructure tools that provides a “programmable settlement” layer for the FYUSD token that allows it to be used by autonomous AI agents for commercial transactions. Read more
Decentralized autonomous organizations (DAOs) govern some of the biggest decentralized finance protocols, including Curve Finance and Aave. Disagreements within a decentralized autonomous organization (DAO) are a sign of a healthy DAO, according to Dr. Michael Egorov, founder of the decentralized finance (DeFi) platform Curve Finance. DAOs are a decentralized organizational structure that relies on smart contracts to automate functions and member voting to govern onchain protocols. Egorov said that both a 2024 governance proposal involving the Curve DAO and the recent dispute involving the Aave DAO illustrate the importance of disagreements to the structure’s vitality. He told Cointelegraph: Read more