Crypto News
House Ag Committee Advances Market Structure Bill, Other Crypto Actions Pending
The House Agriculture Committee sent a major bipartisan message with a 47-6 advancement of the U.S. crypto market structure bill on Tuesday, marking the first of several expected developments in the advancement of digital assets legislation expected this week. A second congressional panel, the House Financial Services Committee, was also hashing out some of the final details on Tuesday on the bill to set up digital assets market oversight, and at the same time, the Senate's legislation to regulate stablecoin issuers was rolling toward a final vote.This year's effort to finally set the U.S. stage for crypto trading, known as the Digital Asset Market Clarity Act, was the focus special hearings called markups in which congressional panels consider amendments and...
Ethereum Governance Tokens Spike as SEC Backs ‘Innovation Exemption’ for DeFi Projects
Uniswap, Aave, and Sky all started out as platforms on Ethereum.Source link
TON Rises 4.1%, Suggesting Further Upside Potential
The Open Network (TON) cryptocurrency has demonstrated strong momentum, rising 4.1% in the last 24 hours, according to CoinDesk Research's technical analysis model. The price action formed a clear uptrend with higher lows and higher highs, breaking through key short-term resistance levels on high trading volume before consolidating near $3.35.The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins and stablecoins — is up 3.7% in the same period of time.Technical Analysis• TON climbed from $3.20 to a peak of $3.39, representing a 6.03% increase.• Price formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout.• Trading volume spiked to 5.77M during the breakout, significantly above the...
SBI Group Invests $50 Million in Circle, Signaling Confidence in Stablecoin Future
The SBI Group has announced a significant investment in Circle, with its subsidiaries SBI Holdings and SBI Shinsei Bank each contributing $25 million, totaling $50 million. Circle Stock ‘Too Hot’ for Some Investors The SBI Group announced it has secured one of the largest allocations of Circle shares, with two of its subsidiaries investing aSource link
South Korea’s Ruling Party Wants to Allow Companies to Issue Stablecoins: Bloomberg
South Korean President Lee Jae-myung's Democratic Party submitted a bill to parliament that would allow qualifying companies to issue stablecoins, Bloomberg reported on Tuesday.The Digital Asset Basic Act is aimed at improving transparency and encouraging competition in cryptocurrency, Bloomberg said. Companies would be able to issue their own stablecoins provided they have at least 500 million won ($368,000) in equity capital and can guarantee refunds through reserves as well as receiving approval from the Financial Services Commission. Lee, voted in as president last week, made a number of promises to South Korea's crypto industry during his election campaign, appealing to the nation's 15 million crypto investors. Among them, he said the country should support a won-based stablecoin market "to prevent...