United States House Financial Services Committee chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill. In a July 27 hearing, Rep. McHenry said the version of the Clarity for Payment Stablecoins Act, H.R. 4766, being considered for markup was not based on negotiations…
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The latest legal action against Block.one (B1), the creator and original seller of EOS (EOS), could potentially help plaintiffs get higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose. On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through…
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As regulatory scrutiny continues to circle the wider Web3 ecosystem, cryptocurrency lending platform Nexo will look to leverage training resources, connections and data by joining the Association of Certified Sanctions Specialists (ACSS). The association offers training and certification for sanctions professionals across a variety of industries including financial institutions, international corporations, law firms, public institutions…
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During a period of hyperinflation in 2013, “my Venezuelan mother asked me to send money to Caracas, the country’s capital,” Hervé Larren recalls. However, bank transfers were not possible between the two countries. Busy with work in New York, he told a friend that he planned to fly to Caracas — carrying cash for his…
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Hong Kong is expanding its financial collaboration with the Kingdom of Saudi Arabia, targeting tokenization and payments infrastructure agreements. On July 26, the Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) held a bilateral meeting to strengthen the integration of financial services between the two countries. As part of the meeting agenda, the…
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In April 2021, the European Commission presented its proposal for harmonized rules on artificial intelligence (AI), dubbed the Artificial Intelligence Act (AI Act). After the Council of the European Union and the European Parliament finalized their positions in December 2022 and June 2023, the legislative institutions entered a trilogue on the upcoming AI regulation. The…
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Coinbase CEO Brian Armstrong has urged United States citizens to take action and email their representatives to vote “yes” on the Financial Innovation and Technology for the 21 Century Act (FIT21), which may provide regulatory clarity for crypto. On July 26, lawmakers voted in favor of FIT21 and the Blockchain Regulatory Certainty Act. The bills…
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Global investment giant BlackRock is expanding its reach in India with a partnership targeting the launch of the “digital-first offering” in India. BlackRock on July 26 officially announced a joint investment project with Jio Financial Services (JFS), an arm of Indian tycoon Mukesh Ambani’s Reliance Industries, India’s most-valued firm. The companies each plan to invest…
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Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s Stablecoins Ratio…
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A Reddit user has become the latest example of why crypto users should be more careful when using wallet generators — after the user lost a few thousand dollars worth of Bitcoin (BTC) from their “secure” paper wallet. On July 24, a Redditor by the name /jdmcnair posted on the r/Bitcoin subreddit, asking for an explanation on how…
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