Stablecoins News

CEO Jeremy Allaire said Circle is building infrastructure for the 'internet financial system,' not just a stablecoin business.

Hagerty said midterm elections would slow the bill's passage, a concern shared by House Majority Whip Tom Emmer, who said Democrats were looking to shut down the government.

Timing is becoming an issue, with the bill still not on the Senate floor schedule, and any delay could push meaningful action into the August recess.

The launch comes after BlackRock's BUIDL fund, which has grown to about $2.5 billion in assets since its launch in 2024.

Giancarlo warned that the GENIUS Act and the CLARITY Act keep financial surveillance alive by expanding Bank Secrecy Act obligations to new financial systems based on blockchain.

The debate over developer liability heated up after former White House cybersecurity official Carole House said software developers should be held more legally responsible for how their code is used.

Senator Lummis said lawmakers added more than 100 Democratic-backed changes over 11 months of negotiations, swelling the proposal from 168 pages to 616 pages.

The debate takes place ahead of a key Senate vote on the CLARITY Act, with disagreements still outstanding on stablecoins, illicit finance rules and ethics provisions.

DCG President said the firm's main priorities include preserving digital-asset jobs in the U.S., protecting consumers and developers, and replacing "regulation-by-enforcement" with clear regulations.

Pompliano said the biggest fight over the bill is about who gets to offer yield, with banks trying to keep crypto firms out of the market.

The Senate is moving quickly towards a procedural vote on the legislation, with hopes for a final passage by the end of the week.

Circle announced it has acquired more than 680 blockchain patent families and nearly 1,000 issued patents from IBM's blockchain portfolio.

The CLARITY Act placed crypto exchanges, DeFi platforms, and crypto ATMs under existing AML and sanctions regulations, according to Senator Cynthia Lummis.

The bill’s biggest obstacle, ethics rules involving President Trump’s crypto holdings, was recently cleared with a White House-backed compromise.

COIN shares fell more than 5% on Wednesday, after the stock surged more than 11% a day before on fresh optimism about the bill’s progress.

A Wall Street veteran thinks stablecoins, tokenized assets, and cryptographic identity systems will become more important as AI agents.

Senator Bernie Moreno reportedly stated that the Department of Justice, not state attorneys general, would be responsible for enforcing the ethics provisions.

Capitol Hill observers believe the legislation must advance next week or its chances of passing this year could effectively disappear.

HYPE futures open interest has climbed to nearly match Ripple’s XRP, with a monthly perpetual volume of $266 billion in June, up over 34% from the month before.

Visa said its new stablecoin platform will allow banks, fintechs, and crypto firms to issue, store, transfer, and redeem stablecoins through a managed infrastructure.

Warsh said the Fed's intention was to fulfill Saturday's statutory deadline for GENIUS Act stablecoin regulation, but he did not make a direct promise.

Galaxy said it would publish daily benchmark borrowing rates for USDC, USDT, and Ethereum, offering a new reference point for on-chain credit costs.

Tarbert also highlighted Circle's newly approved national trust charter, which allows the firm to manage USDC reserves under federal oversight.

Key hurdles remain, including disagreements over developer protections and ethics provisions related to officials' crypto holdings.

According to Glassnode’s Weekly Pulse report, Bitcoin’s rally was driven by thin liquidity rather than strong buying conviction.

Faryar Shirzad argued that regulatory uncertainty creates opportunities for bad actors, while the bill would bring crypto platforms under stricter federal oversight.

Senator Lummis reiterated that failing to pass crypto legislation now could delay meaningful reform until after 2030.

A Wall Street veteran argued investors can no longer dismiss crypto as purely speculative, citing the rise of tokenization, stablecoins and agentic commerce.

Mizuho called the initial 13% pop in CRCL stock "likely overly optimistic," citing that it doesn't resolve the fundamental issues weighing on the company's growth outlook.

Circle received final approval from the OCC to establish First National Digital Currency Bank, completing a regulatory process that began with conditional approval in December 2025.

The White House said it asked Senate Democrats for recommendations for vacant SEC and CFTC commissioner seats, but had not received any names.

In a post on X, Senator Cynthia Lummis reiterated that the upcoming Senate session may be Congress’ “last chance” to pass the CLARITY Act before 2030.

Despite his skepticism, Thorn said Galaxy joined the Open USD (OUSD) coalition because past consortium failures do not necessarily mean the new initiative cannot succeed.

The Blockchain Regulatory Certainty Act would clarify that developers and infrastructure providers who cannot control user funds are not money transmitters under federal law.

Analysts are divided on the impact of Open USD, a new competitor stablecoin introduced by Stripe and others, which has caused investor concern.

OUSD launch comes as US lawmakers advance the CLARITY Act, with supporters arguing that clearer crypto rules will spur institutional adoption.

ARK funded part of the shift by trimming exposure to Chinese technology by selling positions in Alibaba and Baidu.

JPMorgan is urging lawmakers not to sacrifice financial safeguards in the race to regulate crypto.

Cathie Wood backed Section 604 of the CLARITY Act on Saturday, calling the developer-protection provision "thoughtful and nuanced."

Securitize will begin trading on the NYSE under ticker SECZ on July 2, following its merger with Cantor Equity Partners II.

wo major police groups, GLFOP and NAPO, did not sign the law enforcement letter, highlighting divisions over the provision.

White House crypto adviser Patrick Witt is negotiating with Senate Democrats on ethics language that could restrict Trump-family crypto ventures, according to Politico.

Private stablecoins are preferred over CBDCs, which Warsh called "a bad policy choice" and the Senate outlawed until 2030, leaving GENIUS Act-governed tokens, a $311 billion market, as the preferred digital-dollar path.

Treasury Secretary Scott Bessent and Federal Reserve Chair Kevin Warsh have recently voiced opposition to a US CBDC, helping build bipartisan momentum behind the proposal.

Caroline Pham urged the industry to stop framing blockchain as "disruption" and instead present it as a modernization of financial infrastructure.

Peirce warned that passage of the CLARITY Act could significantly expand the SEC's rulemaking responsibilities before her planned departure later this year.

Missing the legislative window might change jurisdiction over crypto legislation if Republicans lose control after the November midterms, Johnson said.

Deutsche Bank highlighted Coinbase's push into tokenized stocks, prediction markets, stablecoin payments, and Base blockchain integration.

The crypto infrastructure firm plans to fund the buyback using existing cash while continuing to invest in growth initiatives.

Republicans are emphasizing fraud prevention and regulatory clarity as Democrats focus on conflict-of-interest concerns.