A New Era Of Fair Finance? GENIUS Act, Stablecoins Could End Bank Exploitatio...
Multicoin Capital’s co-founder says a new law could redraw how Americans keep and earn on their cash, and banks may feel the heat. Tushar Jain said the GENIUS Act could mark “the beginning of the end” of low interest for everyday savers, offering an opening for stablecoins and tech firms to compete for deposits. Related […]
Related News
The United States Treasury Department has opened a request for public comment on the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The GENIUS Act, signed into US law in July, was designed to provide a regulatory framework for stablecoin issuers. This latest call for public input comes exactly a […]
The Vice President of the St. Louis Federal Reserve Bank in the United States, David Andolfatto, has come out with a 36-page slideshow/report on the topic of bitcoin. Now, if you have a few minutes, you'll probably want to take a look at it (it's very quick to get through). Based on my review of the report, I find it to be mostly fair. The report calls bitcoin "A stroke of genius", informing readers that it is a monetary system governed by complex algorithms. In addition, the report recognizes that banning bitcoin is next to impossible. A specific point I feel is spot-on about this report....
The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a top finance ministry official who suggested that his department would support the development of Russian stablecoins. Russia’s Central Bank Voices Opposition to Stablecoins Unlike the Ministry of Finance, the Central Bank of Russia (CBR) believes stablecoins are not intended for settlements, either within the country or abroad. The monetary authority said that the issuance and use of private stablecoins is....
Christopher Waller confirmed the Federal Reserve Bank (Fed) is on board with rolling out stablecoin regulations because it would strengthen the dollar’s reserve currency status. This comment comes right after Senators Hagerty and Lummis introduced the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) of 2025. President Trump’s crypto czar David Sacks has […]
The US Treasury Department has launched a request for public comments aimed at combating illicit activities associated with dollar-pegged cryptocurrencies, stablecoins. This initiative follows the recent passage of the GENIUS Act, a comprehensive piece of legislation designed to provide a regulatory framework for the stablecoin market issuers such as Tether (USDT) and Circle (USDC) in […]