In a remarkable twist, Ripple’s stablecoin, RLUSD, has marked a significant milestone by increasing its circulating supply by 29% during the week ending June 8, injecting an impressive $72.5 million into the market. This expansion catapults the total circulating supply to $320.6 million, thereby surpassing the crucial $300 million benchmark for the first time. For
Regulation
In recent months, the digital landscape has seen intriguing signs of revival, particularly with OpenSea, the leading NFT marketplace. With a staggering increase in monthly active users reaching approximately 467,000 in May, the platform has experienced a revitalization that many believed was long overdue. This 44% growth from April has not merely returned OpenSea to
In a pivotal moment for digital asset enthusiasts, the Senate has confirmed Michelle “Miki” Bowman as the Vice Chair for Supervision at the Federal Reserve, a decision hailed by Senator Cynthia Lummis as a “turning point” in regulatory approach. This confirmation, achieved by a slender 48-46 majority, signifies more than just a staff appointment; it
In a bold move that stands juxtaposed against the often cautious global financial landscape, Hong Kong is rapidly progressing towards legalizing cryptocurrency derivatives. This initiative is not merely a bureaucratic whim; rather, it is a strategic decision informed by a deep understanding of the cryptocurrency market’s potential. Senior government officials are championing this reform, positioning
The landscape of cryptocurrency investment is witnessing a significant transformation, primarily driven by evolving regulatory frameworks that give clarity to the legality and practicality of staking. With the U.S. Securities and Exchange Commission (SEC) recently affirming that staking does not constitute a securities sale when asset ownership is preserved, a wave of optimism has washed
Dubai is swiftly transforming from a bustling metropolis into a formidable cryptocurrency stronghold, showcasing its ambition to lead the digital revolution in finance. Recent partnerships with major blockchain entities like Solana and Ripple underscore a pivotal shift towards a more integrated financial ecosystem. These strategic collaborations not only signify Dubai’s commitment to innovation but also
Pakistan stands at a precarious economic crossroads, where the allure of Bitcoin mining appears to clash with pressing fiscal realities. Amid escalating electricity shortages, the government’s plan to allocate a whopping 2,000 megawatts to fuel Bitcoin operations and artificial intelligence (AI) data centers raises eyebrows and ignites widespread concern. This ambitious initiative may reflect the
The recent guidance released by the US Securities and Exchange Commission (SEC) regarding crypto staking represents a significant turning point for the nascent cryptocurrency industry. Announced on May 29, this decision clarifies that various forms of crypto staking—including self-staking, delegated staking, and custodial services—are not subject to securities laws. This clarification is monumental, not just
In an age where technological progress marches forward, the regulatory framework monitoring our digital landscape is desperately in need of enhancement. The recent introduction of the Digital Asset Market Clarity Act by House Financial Services Committee Chairman French Hill marks a turning point for the future of cryptocurrencies in America. This ambitious, bipartisan legislation aims
The rescission of the 2022 compliance release by the US Department of Labor (DOL) epitomizes a crucial pivot in how fiduciaries are guided to manage investments in retirement plans. Historically, fiduciaries were expected to exercise discretion based on a variety of factors; this latest decision allows for a more context-driven approach. By returning to a