Tag #Stablecoin

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cnn.com

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May 20, 07:12

Senate Passes Bipartisan Stablecoin Bill Despite Ongoing Concerns

The Senate voted 66-32 to pass the bipartisan GENIUS Act, regulating stablecoins, following negotiations to address concerns about the bill's effectiveness and President Trump's cryptocurrency dealings; despite some Democrats' continued opposition.

Senate Passes Bipartisan Stablecoin Bill Despite Ongoing Concerns

The Senate voted 66-32 to pass the bipartisan GENIUS Act, regulating stablecoins, following negotiations to address concerns about the bill's effectiveness and President Trump's cryptocurrency dealings; despite some Democrats' continued opposition.

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How did negotiations between Republicans and Democrats resolve initial concerns about the GENIUS Act, leading to its advancement?

Despite initial Democratic opposition due to concerns about President Trump's cryptocurrency dealings and the bill's perceived weakness, negotiations led to amendments securing enough Democratic support for passage. The legislation represents a rare bipartisan effort to regulate a rapidly evolving financial technology sector.

edition.cnn.com

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May 9, 01:17

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48, due to Democratic concerns over President Trump's cryptocurrency dealings and insufficient consumer protections, despite initial bipartisan support and committee passage.

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48, due to Democratic concerns over President Trump's cryptocurrency dealings and insufficient consumer protections, despite initial bipartisan support and committee passage.

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How did President Trump's cryptocurrency dealings influence the Democrats' decision to block the bill?

Democratic opposition stemmed from worries that the bill, in its current form, would exacerbate Trump's potential conflicts of interest and inadequately safeguard consumers. Their concerns, expressed in a letter last Saturday, highlighted weaknesses in anti-money laundering, national security, and financial system protections. This bipartisan effort, initially advancing with 18-6 support in the Senate Banking Committee, ultimately failed due to these unresolved issues and the short timeframe for revisions.

nos.nl

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May 2, 13:18

ING Profit Down 8% Amidst Lower Interest Rates, Cautious Corporate Spending

ING's first-quarter profit fell 8 percent to €1.45 billion due to lower interest income from ECB rate cuts, while large corporate clients show investment caution amid the US trade war; the bank is exploring stablecoins.

ING Profit Down 8% Amidst Lower Interest Rates, Cautious Corporate Spending

ING's first-quarter profit fell 8 percent to €1.45 billion due to lower interest income from ECB rate cuts, while large corporate clients show investment caution amid the US trade war; the bank is exploring stablecoins.

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Decent Work and Economic Growth

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How has the US trade war impacted ING's business, and what specific sectors are most affected?

The reduction in ING's profitability is directly linked to the ECB's lowering of interest rates from 4 percent to 2.25 percent in an attempt to control inflation and stimulate the economy. This has impacted ING's interest margin, leading to decreased income, while the trade war's impact is limited to cautious investment behavior among large corporate clients.

smh.com.au

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Mar 25, 22:11

Trump's Crypto Empire Expands Amid Ethical Concerns

President Donald Trump's crypto empire is expanding with a new dollar-backed stablecoin, investment funds, and his continued promotion of his meme coin, raising concerns about conflicts of interest and potential market manipulation.

Trump's Crypto Empire Expands Amid Ethical Concerns

President Donald Trump's crypto empire is expanding with a new dollar-backed stablecoin, investment funds, and his continued promotion of his meme coin, raising concerns about conflicts of interest and potential market manipulation.

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How do President Trump's actions influence the ongoing debate surrounding stablecoin regulation and the potential risks associated with these digital assets?

Trump's actions demonstrate a pattern of leveraging his political position to boost his cryptocurrency-related ventures. His promotion of World Liberty Financial's stablecoin and his own meme coin, along with the launch of crypto-focused ETFs through Trump Media, suggests a deliberate strategy for financial gain. The timing of these announcements coincides with Congressional efforts to create a more favorable regulatory environment for stablecoins, raising further questions about potential influence peddling.

theglobeandmail.com

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Jan 2, 22:08

Do Kwon Pleads Not Guilty to Fraud Charges in TerraUSD, Luna Collapse

Do Kwon, the founder of Terraform Labs, pleaded not guilty in Manhattan federal court on Thursday to nine counts of fraud, including securities fraud, wire fraud, commodities fraud and money laundering conspiracy, stemming from the collapse of his TerraUSD and Luna cryptocurrencies, which resulted i...

Do Kwon Pleads Not Guilty to Fraud Charges in TerraUSD, Luna Collapse

Do Kwon, the founder of Terraform Labs, pleaded not guilty in Manhattan federal court on Thursday to nine counts of fraud, including securities fraud, wire fraud, commodities fraud and money laundering conspiracy, stemming from the collapse of his TerraUSD and Luna cryptocurrencies, which resulted i...

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What are the key charges against Do Kwon, and what immediate consequences has he faced?

Do Kwon, the founder of Terraform Labs, pleaded not guilty to nine criminal fraud charges related to the collapse of his TerraUSD and Luna cryptocurrencies, which resulted in an estimated $40 billion in losses. He was extradited from Montenegro and is currently detained, awaiting a January 8 court appearance.

cnn.com

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May 9, 01:17

Senate Blocks Bipartisan Cryptocurrency Bill Amid Trump Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote due to Democratic concerns over insufficient consumer and national security protections and President Trump's cryptocurrency dealings, despite bipartisan support in the Senate Banking Comm...

Senate Blocks Bipartisan Cryptocurrency Bill Amid Trump Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote due to Democratic concerns over insufficient consumer and national security protections and President Trump's cryptocurrency dealings, despite bipartisan support in the Senate Banking Comm...

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What were the key reasons behind the Senate's failure to advance the bipartisan GENIUS Act aimed at regulating stablecoins?

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a vote of 49-48. Nine Senate Democrats withheld their support due to concerns about insufficient consumer protections, national security risks, and the potential for the bill to exacerbate President Trump's cryptocurrency dealings. This highlights the challenges of achieving bipartisan consensus on complex regulatory issues.

us.cnn.com

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May 9, 01:17

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote, after nine Senate Democrats blocked it due to concerns about President Trump's cryptocurrency dealings and insufficient consumer protections, despite months of negotiations and initial bi...

Senate Blocks Bipartisan Stablecoin Bill Amid Trump Crypto Concerns

The Senate failed to advance the bipartisan GENIUS Act, a bill aimed at regulating stablecoins, by a 49-48 vote, after nine Senate Democrats blocked it due to concerns about President Trump's cryptocurrency dealings and insufficient consumer protections, despite months of negotiations and initial bi...

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What specific factors led to the Senate's failure to advance the bipartisan GENIUS Act aimed at regulating stablecoins?

The Senate failed to advance the bipartisan GENIUS Act, a bill regulating stablecoins, by a 49-48 vote. Nine Senate Democrats blocked the bill due to concerns about insufficient consumer protections, national security risks, and the potential for the bill to exacerbate President Trump's cryptocurrency dealings. This demonstrates a rare instance of bipartisan cooperation failing to overcome internal divisions within a single party.

abcnews.go.com

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Mar 26, 01:15

Trump Expands Crypto Empire Amid Ethical Concerns

President Trump's crypto empire expands with a new dollar-backed stablecoin and crypto ETFs, potentially boosting his wealth while raising ethical concerns, amid congressional support for stablecoin regulation.

Trump Expands Crypto Empire Amid Ethical Concerns

President Trump's crypto empire expands with a new dollar-backed stablecoin and crypto ETFs, potentially boosting his wealth while raising ethical concerns, amid congressional support for stablecoin regulation.

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How do President Trump's cryptocurrency endeavors relate to existing ethics agreements, and what are the potential conflicts of interest?

Trump's actions demonstrate a convergence of his personal financial interests and his political influence, exemplified by the timing of the stablecoin launch coinciding with congressional efforts to support the industry. His promotion of his meme coin on Truth Social also highlights this conflict.

theglobeandmail.com

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Mar 25, 19:18

Trump's World Liberty Launches USD1 Stablecoin

Donald Trump's World Liberty Financial launched USD1, a dollar-pegged stablecoin fully backed by U.S. Treasuries and cash equivalents, aiming to facilitate cross-border transactions for institutions after raising $550 million from $WLFI sales; it will be held in custody by BitGo and launched on Ethe...

Trump's World Liberty Launches USD1 Stablecoin

Donald Trump's World Liberty Financial launched USD1, a dollar-pegged stablecoin fully backed by U.S. Treasuries and cash equivalents, aiming to facilitate cross-border transactions for institutions after raising $550 million from $WLFI sales; it will be held in custody by BitGo and launched on Ethe...

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How might USD1's backing by U.S. Treasuries affect its stability and adoption compared to other stablecoins?

USD1's entry into the $237 billion stablecoin market, dominated by Tether and USDC, presents significant competition. Its backing by U.S. Treasuries is intended to provide stability and attract institutional investors, though its success depends on adoption and overcoming the challenges of establishing a robust ecosystem. The involvement of Donald Trump adds political and ethical complexities.

forbes.com

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Dec 11, 10:42

Circle and Binance Partner to Expand USDC Usage

Circle and Binance partnered to expand USDC usage within Binance's platform, aiming to boost Binance's reputation and increase USDC adoption, challenging Tether's market dominance; this follows Binance's $4.3 billion settlement with the U.S. Department of Justice and exit from the U.S. market.

Circle and Binance Partner to Expand USDC Usage

Circle and Binance partnered to expand USDC usage within Binance's platform, aiming to boost Binance's reputation and increase USDC adoption, challenging Tether's market dominance; this follows Binance's $4.3 billion settlement with the U.S. Department of Justice and exit from the U.S. market.

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What is the immediate impact of Circle and Binance's partnership on USDC and Binance?

Circle and Binance announced a partnership to expand USDC's role in Binance's products and services, including additional trading pairs and promotions. Binance will also use USDC for its corporate treasury. This collaboration aims to boost Binance's reputation and increase USDC adoption.

Showing 13 to 22 of 22 results