Wall Street Goes Crypto: Stablecoins Now Too Big to Ignore!

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What We’re Covering This Week > From U.S. regulatory strides and Indian tax reform initiatives to massive institutional adoption and infrastructure upgrades, it has been a defining week for the future of crypto payments.

🏛️ Regulation

The U.S. Senate has advanced the GENIUS Act, a landmark bill to regulate stablecoins, aiming to balance consumer protection with innovation in a $250B market. Read more

Blockchain.com is stepping up its presence in Africa, plans to open a physical office during the second quarter in Nigeria, its “fastest-growing market” in West Africa, along with broader expansion efforts in Ghana, Kenya and South Africa. Read the full story

Hong Kong has passed a comprehensive stablecoin bill, offering regulatory clarity without stifling innovation. This move positions the city as a leader in digital asset regulation, contrasting with the ongoing debates in other jurisdictions. Details

🌍 Adoption

JPMorgan Chase, Wells Fargo, Citigroup and Bank of America, and other major US banks are exploring the creation of a joint stablecoin to counter growing competition from the cryptocurrency sector. Read the full story

Pakistan has appointed Bilal Bin Saqib to lead strategy as the country embraces crypto mining. Read More

Ripple's XRP Adoption Crucial for G20 Cross-Border Payment Goals. A recent report highlights that adopting Ripple's blockchain-based payment solutions, particularly XRP, is essential for meeting the G20's cross-border transaction targets. Read the full report

🔧 Tech & Partnerships

Circle has launched the Circle Payments Network (CPN) Mainnet, a blockchain-based network designed to streamline cross-border payments. Read More

The Bank of Korea is considering linking its deposit tokens to a public blockchain, a move that would position its state-backed digital currency alongside private-sector stablecoins operating on open networks. Read More

Web3 project TOMI is set to launch new monetization tools for creators within its upcoming app, enabling direct payments from audiences without intermediaries. Read how they are doing it

🧭 Everything Else

Tether, the issuer of USDT, is planning to launch a new stablecoin tailored for the U.S. market. The new stablecoin will coexist with USDT, catering to the evolving regulatory landscape. Read more

Ripple's USD stablecoin trading volume has doubled, coinciding with Bitcoin reaching a new all-time high. Check the analysis

India's cryptocurrency sector is lobbying for tax reductions to revive domestic trading, which has declined due to high taxation introduced in 2022. Know more

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