Apple is set to be fined by the European Union’s antitrust regulators under the bloc’s landmark rules aimed at reining in the power of Big Tech, making it the first company to be sanctioned, sources with direct knowledge of the matter said on Tuesday. The regulators charged in June that the iPhone maker had breached … Read more
Congress may pass the most consequential crypto law of the decade this week while drawing a bright red line through one of DeFi’s murkiest gray areas: yield-bearing stablecoins. At first glance, the GENIUS Act appears to be a straightforward regulatory win. It will finally grant over $120 billion in fiat-backed stablecoins a legal runway, establishing … Read more
Meta has reportedly been exploring the use of stablecoins for international payouts, but the firm may face regulatory challenges in the US. Over the weekend, US Senator Elizabeth Warren snubbed the idea of letting Big Tech companies dive too deep into the stablecoin sector. In an interview with CoinDesk, Warren said that Big Tech’s introduction … Read more
The US is currently prioritising a stablecoin-focused bill as part of its broader effort to establish a comprehensive regulatory framework for the crypto industry. Known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the proposed legislation seeks to introduce clear guidelines for the issuance and management of stablecoins—cryptocurrencies that are pegged … Read more
US senators Elizabeth Warren and Richard Blumenthal have written to Meta seeking details on the company’s stablecoin-related plans. The senators have asked Meta CEO Mark Zuckerberg to clarify whether the company intends to launch its stablecoin. Given its mammoth global userbase and the impending final vote on the US stablecoin-focused GENIUS Act, the senators aim … Read more