In one of the more compelling developments in the world of cryptocurrencies, Ripple’s stablecoin, RLUSD, recently expanded its circulating supply by an unprecedented 29%, adding a staggering $72.5 million in just a week. This leap brings the total circulating supply to a notable $320.6 million, marking a significant milestone as the first time RLUSD has
Regulation
The NFT landscape has long seemed like a dormant volcano, filled with potential yet seemingly inactive for months on end. OpenSea’s recent launch of its OS2 platform marks what could be a seismic shift in the market’s fortunes. With a staggering jump to roughly 467,000 monthly active users in May—a robust 44% increase from April—OpenSea
The recent confirmation of Michelle “Miki” Bowman as Vice Chair for Supervision at the Federal Reserve is being heralded as a groundbreaking event in the landscape of cryptocurrency regulation. Senator Cynthia Lummis has termed this appointment a “turning point” for crypto policy, suggesting a brighter path for an industry that has faced tumultuous regulatory scrutiny
In the intricate web of global finance, Hong Kong is swiftly knitting itself a vibrant patch of cryptocurrency innovation. The proposed legislation aimed at legalizing crypto derivatives heralds a transformative era poised to redefine the city’s financial skyline. This initiative is not merely an enhancement but a strategic pivot designed to rejuvenate Hong Kong’s reputation
In the realm of investment innovation, staking exchange-traded funds (ETFs) represent a pivotal shift. With the regulatory ambiguity surrounding cryptocurrencies finally showing signs of resolution, the potential rise of ETFs that integrate staking yields could alter the landscape of digital asset investing. Recent developments indicate that significant players like BlackRock, Fidelity, and Bitwise are primed
Dubai isn’t just embracing the digital revolution; it’s storming into the future with an aggressive and calculative approach to cryptocurrency and blockchain technology. The recent partnerships with major players like Solana and Ripple showcase a strategic vision aimed at reinforcing Dubai’s position on the global stage as a centerpiece for blockchain innovation. The city’s financial
In a country grappling with persistent electricity shortages and fiscal instability, Pakistan’s government is making a provocative decision: redirecting 2,000 megawatts of power towards Bitcoin mining operations. This move raises fundamental questions concerning the priorities of an economically troubled nation. Despite the obvious challenges, authorities are marketing this initiative as a significant step towards harnessing
The Securities and Exchange Commission (SEC) has recently taken a momentous step by clarifying that common forms of crypto staking are not classified as securities under federal law. On May 29, the SEC’s Division of Corporation Finance affirmed that various forms of staking—self-staking, delegated staking, custodial, and non-custodial—are exempt from the burdens of registration that
The Digital Asset Market Clarity Act, introduced by House Financial Services Committee Chairman French Hill, represents a pivotal moment in the evolving landscape of cryptocurrency regulation. This 249-page bill attempts to delineate a federal framework governing most cryptocurrencies while distinguishing between securities and commodities. Such a legal framework is indeed a long-overdue development as the
The recent decision by the US Department of Labor (DOL) to rescind a 2022 compliance release aimed at restricting fiduciaries from including cryptocurrency in 401(k) retirement plans marks a significant turning point in the landscape of retirement investment. This shift reflects a push toward greater autonomy for fiduciaries and, ultimately, for the individual investors they
