No Data
Is yet another major Bullish news coming for Cryptos? The U.S. House of Representatives may soon vote on a key bill.
① Iran and Israel announced a ceasefire, pushing the Bitcoin price back above $105,000, recovering the drop following the U.S. attack on Iran's nuclear facilities; ② In addition, the U.S. House of Representatives is about to vote on a key cryptocurrency legislation, which will allow cryptocurrency Exchanges to register with the U.S. Commodity Futures Trading Commission and reduce the U.S. Securities and Exchange Commission's regulation of digital Assets.
The next stop for stablecoins: international payments, tokenization of US stocks, and AI agents.
Guosheng Securities stated that stablecoins, with the advantages of real-time settlement and a lightweight account system, not only show disruptive potential in the traditional payment sector but also become key drivers in the tokenization of US stocks (RWA) and AI Agent payment scenarios. RWA provides cryptocurrency investors with more asset allocation choices, which may drive rapid expansion in the scale of stablecoins, while AI Agent payments could relieve users of operational burdens and give rise to entirely new payment models.
This is a good thing! Federal Reserve Chairman Powell supports the U.S. Cryptos bill.
#NFT and Cryptos# FX168 Financial News Agency (Asia-Pacific) reported that Federal Reserve Chairman Jerome Powell expressed his support for Cryptos legislation in Congress on Tuesday, June 24, and hinted that the U.S. could benefit from the bill currently under consideration.
Are stablecoins the "lifeline" for the dollar?
On June 17 local time, the U.S. Senate passed the "Guidance and Establishment of the United States Stablecoin National Innovation Act" with a vote of 68 in favor and 30 against, establishing regulatory rules for stablecoins pegged to the U.S. dollar.
Marching into the global market! The stablecoin leader Tether has announced an expansion plan to confront the challenges posed by traditional financial giants.
Tether is actively expanding its stablecoin business by building a global distribution network, particularly through solar self-service kiosk projects in Africa, and through strategic investments. The CEO emphasized that the company's goal is to extend the influence of the dollar into Emerging Markets and believes that the GENIUS Act may hinder Technology companies from issuing stablecoins.
Are stablecoins unstable? The "bank of banks," BIS, warns that stablecoins pose multiple systemic risks.
The BIS believes that stablecoins can undermine monetary sovereignty, transparency issues, and the risk of capital flight in Emerging Markets. BIS economic advisor Hyun Song Shin warned that if stablecoins were to collapse, the Assets backing stablecoins could be "dumped" just like TerraUSD (UST) and Cryptos LUNA did in 2022.
