On April 17, 2024, Republican Senator Cynthia Lummis and Democratic Senator Kirsten Gillibrand introduced the bipartisan Lummis-Gillibrand Payment Stablecoin Act, which creates a clear regulatory framework for payment stablecoins that the Senators said will protect consumers, enable innovation and promote U.S. dollar dominance while preserving the dual banking system. Heads of both the Federal Reserve and the Treasury Department have recently called for Congress to regulate stablecoins. The Bill provides, among other things: (1) For depository institutions (banks)…
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Recent
This blog entry focuses on Phase 2 of amendments to Singapore payments legislation. It expanded of the scope…
BitMEX is a cryptocurrency exchange and derivative trading platform. It is owned and operated by HDR Global Trading…
In 2021, Illusory Systems, Inc. developed a cross-chain bridge known as the Nomad Bridge. A “bridge” is a…
On February 29, 2024, the U.S. House of Representatives Financial Services Committee passed a resolution (H.J. Res. 109)…
The Texas Blockchain Council (TBC) describes itself as a nonprofit industry association that works to make the State…
On February 26, 2024, Republican Senator Ted Cruz, along with fellow Republican Senators Bill Hagerty, Rick Scott, Ted…