Republican Senator Pat Toomey, the ranking member for the Senate Banking Committee, has drafted a bill proposing a regulatory framework for stablecoins in the United States. According to a draft released Wednesday, the ‘Stablecoin Transparency of Reserves and Uniform Safe Transactions Act’, otherwise known as the Stablecoin TRUST Act, proposed the digital assets be identified as “payment stablecoins” — a…
In brief FTX US offers fewer coin and token listings than many of its competitors. Whereas Coinbase has pushed an aggressive listing strategy, FTX US has emphasized caution. If you’re trading on Huobi, you have 487 coins and tokens to choose from, according to figures from CoinMarketCap. Binance has an impressive 395 listings. And Coinbase has expanded its offerings over…
Sberbank, the largest bank in the Russian Federation, has denied connection to a new cryptocurrency called “sbercoin.” The project is offering high returns to buyers of the token, which was launched shortly after Bank of Russia allowed Sberbank to issue digital currencies. Sbercoin Traded on Pancakeswap Exchange, Not Issued by Sberbank A crypto project called Sbercoin.Finance has been promising investors…
Social media giant Facebook’s parent company Meta is reportedly planning to introduce virtual currency named after CEO Mark Zuckerberg as well as lending services to apps it owns, which may include Facebook, WhatsApp, Instagram, and Messenger. According to a Financial Times report on Wednesday, the move toward tokens and virtual currency is aimed at exploring alternative sources of revenue as…
The Tennessee Titans will be the first NFL team to accept bitcoin as payment. Season tickets, suits, PSLs and sponsorship opportunities will be among the focus of large and recurring payments as the initiative is rolled out. The Titans hope to extend bitcoin payments to single-tickets, merchandise and at-game food and beverage purchases. The Tennessee Titans have officially announced they…
United States Treasury Secretary Janet Yellen told the House Financial Services Committee on Wednesday that her department is not seeing significant use of cryptocurrencies to evade sanctions placed on Russian oligarchs and government agencies. Yellen was asked repeatedly about digital asset security at the committee’s annual hearing on the state of the international financial system. “We are aware of the possibility clearly…
Bitcoin 2022 was a fantastic center of conversation for the politics and legislation involving Bitcoin. On April sixth, Industry Day, the Nakamoto Stage played host to such conversations, as leaders in the industry considered the various implications of the Biden Infrastructure Bill. Jake Chervinsky, Head of Policy at the Blockchain Association, had an excellent Twitter thread on why Bitcoiners were…
By Muneeb Imtiaz, Senior Product Manager At Coinbase, we’re reimagining the crypto spending and earning experience by building products that are safe, trusted, and easy-to-use. That’s why we’re enhancing Coinbase Card to give customers more flexibility than ever. Through Coinbase Card’s upcoming rotating rewards structure, customers will be able to earn a wider variety of crypto rewards to diversify their…
Senator Pat Toomey (R-Pa.) on Wednesday unveiled a draft of the Stablecoin Transparency of Reserves and Uniform Safe Transactions Act. The TRUST Act states that stablecoin issuers must adhere to certain rules. The bill also refers to stablecoins as “payment stablecoins”—digital assets that can be “convertible directly to fiat currency by the issuer” and that have a “stable value relative…
The cryptocurrency market is nearly completely red on April 6 after hawkish comments from multiple members of the Federal Reserve highlighted their opinion that aggressively raising interest rates and cutting bond purchases would need to happen in order to combat inflation. Members did concede that this would result in negative pressure being placed on financial markets and this seems to be…
