A US Senate Democrat says crypto and banking lobbies will both have to accept compromises amid a new proposal to move the crypto market structure bill forward. Senator Angela Alsobrooks, a key Democrat on the Senate Banking Committee, said at an American Bankers Association event on Tuesday that she and Republican Senator Thom Tillis are…
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Bitcoin’s recent parallel movement with US software stocks is more of a case of shared exposure to macro events, rather than any structural convergence, according to financial services company NYDIG. In the past week, Bitcoin (BTC) rallied alongside US software stocks, leading many to claim the cryptocurrency was a proxy for the sector, Greg Cipolaro,…
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US President Donald Trump has taken a shot at banks for stalling the crypto market structure bill from advancing in the Senate over stablecoin yield payments. “The Genius Act is being threatened and undermined by the Banks, and that is unacceptable — We are not going to allow it,” Trump posted on his Truth Social…
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The US state of Nevada has sued Kalshi after the prediction market company lost its court challenge to stop the state’s regulator from taking action over its sports prediction markets. The US Court of Appeals for the Ninth Circuit on Tuesday denied Kalshi’s bid to stop Nevada’s gaming regulator from taking action on its sports…
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A White House-brokered meeting between crypto and bank representatives to reach an agreement on stablecoin provisions in the market structure bill has been described as “productive,” but remains unresolved. “Productive session at the White House today — compromise is in the air,” Ripple legal chief Stuart Alderoty, one of the meeting’s attendees, posted to X…
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The Federal Reserve has heard arguments from crypto companies and banking associations on a proposal to allow so-called “skinny master accounts,” which would give fintech firms limited access to the central bank’s payments infrastructure. The Fed received 44 comments in response to its proposal, which closed on Friday, seeking feedback on offering a “payment account,”…
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The US Commodity Futures Trading Commission has withdrawn a Biden administration-era proposal that would have banned sports and political prediction markets, some of the most popular event contracts today. The recently confirmed CFTC chair, Mike Selig, said on Wednesday that the agency has withdrawn a 2024 notice of proposed rulemaking that sought to ban event…
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Bitcoin could continue its downtrend as there are few catalysts to reverse the cryptocurrency’s fortunes, says Galaxy Digital research lead Alex Thorn. Thorn said in a note on Monday that there is a “significant chance” that over the coming weeks, Bitcoin (BTC) could fall to the bottom of a gap in supply at $70,000 before…
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The UK’s advertising watchdog has reportedly banned a series of Coinbase advertisements, claiming they presented the crypto exchange as a solution to cost-of-living concerns while making light of the risks of investing in crypto. The UK Advertising Standards Authority said the ads — which included a satirical musical-style video and three posters — were “irresponsible”…
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The crypto industry will need to become ingrained in everyday life in the US should Congress fail to pass a crypto market structure bill, or risk being set back by a change in administration, says Bitwise investment chief Matt Hougan. Hougan said in a note on Monday that legislation making its way through the Senate…
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