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Tether continues to increase its treasury reserve holdings backing circulating USDT (USDT) tokens, according to its latest financial attestation for the second quarter of 2023.Tether Holdings published its Q2 attestation from accounting firm BDO, highlighting an $850 million increase in its excess reserves, which takes its total to $3.3 billion.Tether Excess Reserves
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Top Stories This Week Crypto bills pass congressional committee in ‘huge win’ for US crypto A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms in the country.
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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
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied This week, the principal congressional committee reviews multiple bills as they seek to establish a comprehensive regulatory framework for the crypto industry. The occasion marks a pivotal turning point for federal engagement in digital asset regulation, building upon previous
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A key United States House panel has approved a pair of bills that will be key to developing a regulatory framework for cryptocurrencies, that will reduce regulatory red tape for crypto and set clearer rules for the industry.On July 26, the majority of U.S. lawmakers voted in favor of the
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The House Financial Services Committee advanced a set of crypto bills after a landmark markup on Wednesday. Source
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Members of the United States House Financial Services Committee seem to be divided on the best legislative path forward dealing with regulatory clarity for crypto and blockchain technology.In a July 26 markup hearing, the committee had several bills on its agenda including the Financial Innovation and Technology for the 21st
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Since 2022, there have been at least 50 digital asset bills reportedly introduced to Congress, aiming to govern everything from stablecoins to the jurisdictions of United States regulators.However, at least four of them are seen as potentially having a major impact on the industry (if passed) — given the attention
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Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to
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Circle’s reserve fund opted to rotate all its holdings into tri-party repos involving systemically important banks like Goldman Sachs, BNP Paribas, Bank of America, and Royal Bank of Canada. Stablecoin issuer Circle has made a strategic move by resuming the purchase of US Treasury bills as a reserve asset for its
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