Binance has reportedly met with government officials to discuss relaxed regulation on the cryptocurrency exchange.
\nThe meeting between the company and representatives of the Treasury Department happened last month, The Wall Street Journal (WSJ) reported late Friday (April 11), citing sources familiar with the matter.
\nThe meeting came while Binance was also exploring a business arrangement with a Trump family crypto venture, the sources added.
\nSome of those sources said Binance wants the Treasury to remove a government-appointed monitor who oversees the company\u2019s compliance with anti-money laundering (AML) laws. Such a move would be the first step in returning Binance to the U.S. market following its 2023 guilty plea to AML violations.
\nOther sources said Biannce is also in talks to list a new stablecoin from World Liberty Financial, a crypto venture backed by President Donald Trump\u2019s sons. That listing could open the coin to a vast new market \u2014 Binance has 250 million users \u2014 a potential multibillion-dollar payday for the Trump family.
\nBinance paid a record $4.3 billion fine for allowing bad actors to move billions through its exchange. It also removed all U.S. customers and agreed to report all suspicious transactions.
\nIf the government agreed to relax its oversight of Binance, it would mark the latest in a series of moves designed to roll back earlier crypto enforcement efforts.
\nLast week saw a report that the Department of Justice (DOJ) was planning to limit its crypto-related investigations to focus on the use of digital assets in things like terrorism, drug trafficking and fraud.
\nDeputy Attorney General Todd Blanche said in a memo cited by Bloomberg News that this change is meant to leave crypto-related activities to regulators, a change from the Biden administration\u2019s use of the Justice Department to pursue \u201cregulation by prosecution.\u201d
\nMeanwhile, Securities and Exchange Commission (SEC) Acting Chairman Mark T. Uyeda said last month that the regulator has changed how it regulates digital assets.
\n\u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases \u2014 rather than through enforcement actions \u2014 should have been considered for classifying crypto assets under the federal securities laws,\u201d Uyeda said during a roundtable centered on the regulation of digital assets.
\nOne week later, the Federal Deposit Insurance Corp. (FDIC) issued new guidance saying that FDIC-supervised institutions can conduct crypto-related activities without prior FDIC approval, provided they adequately manage the associated risks.
\n\u00a0
\nThe post Binance Reportedly Sought Looser Regulation From US Treasury appeared first on PYMNTS.com.
\n", "content_text": "Binance has reportedly met with government officials to discuss relaxed regulation on the cryptocurrency exchange.\nThe meeting between the company and representatives of the Treasury Department happened last month, The Wall Street Journal (WSJ) reported late Friday (April 11), citing sources familiar with the matter.\nThe meeting came while Binance was also exploring a business arrangement with a Trump family crypto venture, the sources added.\nSome of those sources said Binance wants the Treasury to remove a government-appointed monitor who oversees the company\u2019s compliance with anti-money laundering (AML) laws. Such a move would be the first step in returning Binance to the U.S. market following its 2023 guilty plea to AML violations.\nOther sources said Biannce is also in talks to list a new stablecoin from World Liberty Financial, a crypto venture backed by President Donald Trump\u2019s sons. That listing could open the coin to a vast new market \u2014 Binance has 250 million users \u2014 a potential multibillion-dollar payday for the Trump family.\nBinance paid a record $4.3 billion fine for allowing bad actors to move billions through its exchange. It also removed all U.S. customers and agreed to report all suspicious transactions.\nIf the government agreed to relax its oversight of Binance, it would mark the latest in a series of moves designed to roll back earlier crypto enforcement efforts.\nLast week saw a report that the Department of Justice (DOJ) was planning to limit its crypto-related investigations to focus on the use of digital assets in things like terrorism, drug trafficking and fraud.\nDeputy Attorney General Todd Blanche said in a memo cited by Bloomberg News that this change is meant to leave crypto-related activities to regulators, a change from the Biden administration\u2019s use of the Justice Department to pursue \u201cregulation by prosecution.\u201d\nMeanwhile, Securities and Exchange Commission (SEC) Acting Chairman Mark T. Uyeda said last month that the regulator has changed how it regulates digital assets.\n\u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases \u2014 rather than through enforcement actions \u2014 should have been considered for classifying crypto assets under the federal securities laws,\u201d Uyeda said during a roundtable centered on the regulation of digital assets.\nOne week later, the Federal Deposit Insurance Corp. (FDIC) issued new guidance saying that FDIC-supervised institutions can conduct crypto-related activities without prior FDIC approval, provided they adequately manage the associated risks.\n\u00a0\nThe post Binance Reportedly Sought Looser Regulation From US Treasury appeared first on PYMNTS.com.", "date_published": "2025-04-13T18:56:48-04:00", "date_modified": "2025-04-13T18:59:57-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Binance-1.jpg", "tags": [ "Binance", "crypto", "crypto enforcement", "crypto regulation", "Cryptocurrency", "Department of Justice", "News", "PYMNTS News", "SEC", "stablecoins", "Treasury Department", "What's Hot", "world liberty financial" ] }, { "id": "https://www.pymnts.com/?p=2682188", "url": "https://www.pymnts.com/cryptocurrency/2025/new-york-attorney-general-letitia-james-more-must-be-done-regulate-crypto/", "title": "NY AG: \u2018More Must Be Done\u2019 to Regulate Crypto", "content_html": "New York Attorney General Letitia James wants Congress to do more to protect cryptocurrency investors.
\nJames wrote a letter to congressional leadership Tuesday (April 8), saying lawmakers should mandate that crypto companies register with a federal regulatory agency and establish minimum listing standards for crypto tokens.
\n\u201cCountless New Yorkers invest in cryptocurrency and digital assets, and more must be done to protect them and their money,\u201d James said in a Thursday (April 10) press release announcing the letter. \u201cThousands of investors in New York and across the country have lost millions of dollars to cryptocurrency scams and fraud that could be prevented with stronger federal regulations.\u201d
\nThe letter comes as Congress prepares to pass the GENIUS Act, which would for the first time create rules for stablecoins, a type of crypto pegged to assets like the U.S. dollar. James\u2019 letter said Congress should require stablecoin issuers to have a presence in the United States and deposit U.S. Treasuries and other cash equivalents in U.S. banks.
\nMeanwhile, a separate stablecoin bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, has gotten some pushback from some state regulators. The Conference of State Bank Supervisors expressed concerns over the bill\u2019s approach, which it said represents a dangerous expansion of federal oversight at the expense of state regulatory authority.
\nThis week, lawmakers heard from attorneys and executives from the crypto sector who said that securities laws need to be readjusted to account for some of the unique properties of digital assets.
\n\u201cWhile many of crypto\u2019s early use cases have been financial, crypto is a general-purpose technology with countless applications,\u201d testified Rodrigo Seira, special counsel at Cooley. \u201cCrypto provides new ways for individuals to be economically rewarded for their contribution to networks and other public goods, opening the door to people around the country that lack the traditional advantages of capital and credentials.\u201d
\nThe current securities regulatory framework is \u201cnot a viable option\u201d to regulate cryptocurrencies, Seira said. In practice, \u201cvirtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale.\u201d
\nProjects that tried to comply with the Securities and Exchange Commission\u2019s requirements ultimately failed or wound up \u201cin a state of regulatory uncertainty,\u201d he told lawmakers.
\nThe post NY AG: \u2018More Must Be Done\u2019 to Regulate Crypto appeared first on PYMNTS.com.
\n", "content_text": "New York Attorney General Letitia James wants Congress to do more to protect cryptocurrency investors.\nJames wrote a letter to congressional leadership Tuesday (April 8), saying lawmakers should mandate that crypto companies register with a federal regulatory agency and establish minimum listing standards for crypto tokens.\n\u201cCountless New Yorkers invest in cryptocurrency and digital assets, and more must be done to protect them and their money,\u201d James said in a Thursday (April 10) press release announcing the letter. \u201cThousands of investors in New York and across the country have lost millions of dollars to cryptocurrency scams and fraud that could be prevented with stronger federal regulations.\u201d\nThe letter comes as Congress prepares to pass the GENIUS Act, which would for the first time create rules for stablecoins, a type of crypto pegged to assets like the U.S. dollar. James\u2019 letter said Congress should require stablecoin issuers to have a presence in the United States and deposit U.S. Treasuries and other cash equivalents in U.S. banks.\nMeanwhile, a separate stablecoin bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, has gotten some pushback from some state regulators. The Conference of State Bank Supervisors expressed concerns over the bill\u2019s approach, which it said represents a dangerous expansion of federal oversight at the expense of state regulatory authority.\nThis week, lawmakers heard from attorneys and executives from the crypto sector who said that securities laws need to be readjusted to account for some of the unique properties of digital assets.\n\u201cWhile many of crypto\u2019s early use cases have been financial, crypto is a general-purpose technology with countless applications,\u201d testified Rodrigo Seira, special counsel at Cooley. \u201cCrypto provides new ways for individuals to be economically rewarded for their contribution to networks and other public goods, opening the door to people around the country that lack the traditional advantages of capital and credentials.\u201d\nThe current securities regulatory framework is \u201cnot a viable option\u201d to regulate cryptocurrencies, Seira said. In practice, \u201cvirtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale.\u201d\nProjects that tried to comply with the Securities and Exchange Commission\u2019s requirements ultimately failed or wound up \u201cin a state of regulatory uncertainty,\u201d he told lawmakers.\nThe post NY AG: \u2018More Must Be Done\u2019 to Regulate Crypto appeared first on PYMNTS.com.", "date_published": "2025-04-10T17:56:21-04:00", "date_modified": "2025-04-10T22:27:16-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/11/cryptocurrency-bitcoin-digital-assets.jpg", "tags": [ "Bitcoin", "Blockchain", "Cryptocurrency", "Government", "Letitia James", "News", "PYMNTS News", "regulations", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2682139", "url": "https://www.pymnts.com/cryptocurrency/2025/dogecoin-foundation-teams-with-21shares-launch-crypto-etps/", "title": "Dogecoin Foundation Teams With 21Shares to Launch Crypto ETPs", "content_html": "House of Doge, the corporate arm of the Dogecoin Foundation, launched a partnership with cryptocurrency company 21Shares.
\nThe collaboration will yield the only dogecoin exchange-traded products (ETPs) endorsed by the Dogecoin Foundation, according to a Thursday (April 10) press release.
\n\u201cThis partnership represents a significant step toward providing registered, institutional-grade exposure to dogecoin, one of the most community-driven and widely recognized digital assets,\u201d the release said.
\nTo cement the partnership, 21Shares filed a registration statement with the U.S. Securities and Exchange Commission to roll out a dogecoin ETF in the United States, pending regulatory approval, per the release.
\nDogecoin launched in 2013 as a \u201clight-hearted alternative to bitcoin,\u201d but it has since become more mainstream, accepted by brands like Microsoft and AMC Theatres as a method of payment, the release said.
\n\u201cFor dogecoin to reach its full potential as a global currency, institutional support and corporate partnerships are essential,\u201d Dogecoin Foundation Co-Executive Director Jens Wiechers said in the release. \u201cThis initiative with 21Shares provides a regulated path for institutions to participate in and amplify the \u2018Dogecoin is Money\u2019 vision, while still honoring the community\u2019s spirit. Global adoption is critical, and we\u2019re excited to take this next step \u2014 ensuring dogecoin stays fun but gains the credibility and backing needed to thrive at scale.\u201d
\nMeanwhile, stablecoins \u2014 cryptocurrencies pegged to fiat currencies such as the U.S. dollar \u2014 have moved from niche assets to instruments that could redefine how money moves, where it is stored and who controls it.
\n\u201cBanks rely on customer deposits to fund loans and support economic activity at the local level,\u201d PYMNTS reported Thursday. \u201cStablecoins, if adopted widely, could potentially threaten to siphon off those deposits.\u201d
\nUsers might decide they would rather hold stablecoins in digital wallets over keeping money in checking or savings accounts. This potential migration of capital could rob traditional banks of their primary funding source, hindering their ability to lend and compete.
\nHowever, this future, if realized, remains far on the horizon.
\n\u201cThe use of stablecoins in U.S. domestic payments is roughly zero at the moment,\u201d Adam Shapiro, co-founder and partner at Klaros Group, told PYMNTS. \u201cThey\u2019re used in crypto, as a store of value for people who don\u2019t have access to the U.S. banking system, and by people making international payments to avoid costs. We see a lot of interest \u2014 for example, instant settlement in the intrabank market \u2014 but that\u2019s in the future.\u201d
\nThe post Dogecoin Foundation Teams With 21Shares to Launch Crypto ETPs appeared first on PYMNTS.com.
\n", "content_text": "House of Doge, the corporate arm of the Dogecoin Foundation, launched a partnership with cryptocurrency company 21Shares.\nThe collaboration will yield the only dogecoin exchange-traded products (ETPs) endorsed by the Dogecoin Foundation, according to a Thursday (April 10) press release.\n\u201cThis partnership represents a significant step toward providing registered, institutional-grade exposure to dogecoin, one of the most community-driven and widely recognized digital assets,\u201d the release said.\nTo cement the partnership, 21Shares filed a registration statement with the U.S. Securities and Exchange Commission to roll out a dogecoin ETF in the United States, pending regulatory approval, per the release.\nDogecoin launched in 2013 as a \u201clight-hearted alternative to bitcoin,\u201d but it has since become more mainstream, accepted by brands like Microsoft and AMC Theatres as a method of payment, the release said.\n\u201cFor dogecoin to reach its full potential as a global currency, institutional support and corporate partnerships are essential,\u201d Dogecoin Foundation Co-Executive Director Jens Wiechers said in the release. \u201cThis initiative with 21Shares provides a regulated path for institutions to participate in and amplify the \u2018Dogecoin is Money\u2019 vision, while still honoring the community\u2019s spirit. Global adoption is critical, and we\u2019re excited to take this next step \u2014 ensuring dogecoin stays fun but gains the credibility and backing needed to thrive at scale.\u201d\nMeanwhile, stablecoins \u2014 cryptocurrencies pegged to fiat currencies such as the U.S. dollar \u2014 have moved from niche assets to instruments that could redefine how money moves, where it is stored and who controls it.\n\u201cBanks rely on customer deposits to fund loans and support economic activity at the local level,\u201d PYMNTS reported Thursday. \u201cStablecoins, if adopted widely, could potentially threaten to siphon off those deposits.\u201d\nUsers might decide they would rather hold stablecoins in digital wallets over keeping money in checking or savings accounts. This potential migration of capital could rob traditional banks of their primary funding source, hindering their ability to lend and compete.\nHowever, this future, if realized, remains far on the horizon.\n\u201cThe use of stablecoins in U.S. domestic payments is roughly zero at the moment,\u201d Adam Shapiro, co-founder and partner at Klaros Group, told PYMNTS. \u201cThey\u2019re used in crypto, as a store of value for people who don\u2019t have access to the U.S. banking system, and by people making international payments to avoid costs. We see a lot of interest \u2014 for example, instant settlement in the intrabank market \u2014 but that\u2019s in the future.\u201d\nThe post Dogecoin Foundation Teams With 21Shares to Launch Crypto ETPs appeared first on PYMNTS.com.", "date_published": "2025-04-10T16:46:16-04:00", "date_modified": "2025-04-10T16:47:14-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/dogecoin-exchange-traded-products.png", "tags": [ "21Shares", "Bitcoin", "Blockchain", "Cryptocurrency", "digital assets", "digital currency", "Dogecoin", "Dogecoin Foundation", "News", "partnerships", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2681759", "url": "https://www.pymnts.com/cryptocurrency/2025/are-stablecoins-a-threat-or-an-opportunity-for-banks/", "title": "Are Stablecoins a Threat or an Opportunity for Banks?", "content_html": "Banks have always evolved to provide more effective systems to serve their customers. But while historically that evolution was relatively linear, as the financial world continues to digitize, banks are faced with a growing array of options to meet customer needs.
\nStablecoins \u2014 cryptocurrencies pegged to fiat currencies such as the U.S. dollar \u2014 have moved from niche assets to instruments that could redefine how money moves, where it is stored and who controls it.
\nFor traditional banks, stablecoins represent a dual-edged proposition: both a disruptive force and a potential avenue for innovation. With the\u00a0news that Tether is considering offering a U.S.-only stablecoin, the central question is whether banks will be disintermediated, or whether they can co-opt the technology to evolve their roles in a changing financial landscape.
\nThe U.S. Securities and Exchange Commission\u2019s (SEC) Division of Corporate Finance also earlier determined that stablecoins are\u00a0not securities\u00a0and do not need to be registered, and the shifting domestic regulatory landscape has opened the door for financial service stakeholders to dip their toes into the crypto space with the Office of the Comptroller of the Currency (OCC)\u00a0reclarifying\u00a0certain crypto banking permissions last month.
\nThe potential for banks to act as custodians, compliance partners or even validators in blockchain networks could open up avenues for growth that align with their core strengths. In today\u2019s changing landscape, inertia is increasingly no longer an option.
\nRead more: OCC Says Banks Can Hold Crypto, but Should They?
\nAt the heart of the issue is the role of bank deposits in the financial system. Banks rely on customer deposits to fund loans and support economic activity at the local level. Stablecoins, if adopted widely, could potentially threaten to siphon off those deposits. Users might prefer holding stablecoins in digital wallets over parking money in checking or savings accounts. This potential migration of capital could starve traditional banks of their primary funding source, challenging their ability to lend and compete.
\nHowever, this future, if realized, remains far away on the horizon.
\n“The use of stablecoins in U.S. domestic payments is roughly zero at the moment. They\u2019re used in crypto, as a store of value for people who don’t have access to the U.S. banking system, and by people making international payments to avoid costs. We see a lot of interest \u2014 for example, instant settlement in the intrabank market \u2014 but that\u2019s in the future,\u201d Adam Shapiro, co-founder and partner at Klaros Group, told PYMNTS in an interview.
\n\u201cThe fact is that people generally don\u2019t want to be responsible for looking after large amounts of their money in self-custodied wallets \u2014 they want banks to look after it. If stablecoins do become more commonly used in domestic transactions, banks will simply need to integrate with stablecoins the same way they integrated with platforms like Zelle,\u201d Shapiro added.
\nStill, some banks are already choosing to engage rather than retreat. JPMorgan has launched JPM Coin, a blockchain-based stablecoin for institutional clients. Others, like BNY Mellon, are building custody solutions for digital assets, anticipating a future in which banks serve as trusted intermediaries for crypto and tokenized assets.
\nSee also:\u00a0Stablecoins Keep Racking Up Milestones, but Can They Crack B2B Payments?
\nStablecoins face hurdles of their own: regulatory clarity, scalability and user trust. But payments are becoming faster, cheaper and more programmable. Consumers and businesses are beginning to ask why moving money should still be slow and expensive.
\nBut banks are heavily regulated, risk-averse and operationally complex \u2014 a sharp contrast to the nimble, sometimes unregulated players dominating the stablecoin space. For collaboration to thrive, banks must overcome cultural and structural barriers.
\nThe creation of a federal framework governing stablecoins is\u00a0important for industry confidence,\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0said in an interview with PYMNTS CEO Karen Webster published Monday (April 7).
\n\u201cWithout a federal framework, it is incredibly difficult for financial services firms and international enterprises to really get comfortable in using stablecoins at scale,\u201d Levin said.
\nThe U.S. is currently working on such a federal framework. With it in place, forward-looking institutions could become vital nodes in a hybrid financial system, offering compliance, risk management and financial literacy in a digital age.
\nBanks might become stablecoin issuers themselves, leveraging their reputations and customer bases to offer branded digital dollars. Alternatively, they could serve as the back end for FinTech platforms, providing the regulatory and custodial scaffolding for digital asset ecosystems.
\nUltimately, the question is not whether stablecoins are a threat or opportunity, but whether banks are prepared to reimagine themselves. That requires more than just digital transformation. It demands a willingness to cede control, adopt new business models and engage with communities far outside the traditional banking sphere.
\nThe post Are Stablecoins a Threat or an Opportunity for Banks? appeared first on PYMNTS.com.
\n", "content_text": "Banks have always evolved to provide more effective systems to serve their customers. But while historically that evolution was relatively linear, as the financial world continues to digitize, banks are faced with a growing array of options to meet customer needs.\nStablecoins \u2014 cryptocurrencies pegged to fiat currencies such as the U.S. dollar \u2014 have moved from niche assets to instruments that could redefine how money moves, where it is stored and who controls it.\nFor traditional banks, stablecoins represent a dual-edged proposition: both a disruptive force and a potential avenue for innovation. With the\u00a0news that Tether is considering offering a U.S.-only stablecoin, the central question is whether banks will be disintermediated, or whether they can co-opt the technology to evolve their roles in a changing financial landscape.\nThe U.S. Securities and Exchange Commission\u2019s (SEC) Division of Corporate Finance also earlier determined that stablecoins are\u00a0not securities\u00a0and do not need to be registered, and the shifting domestic regulatory landscape has opened the door for financial service stakeholders to dip their toes into the crypto space with the Office of the Comptroller of the Currency (OCC)\u00a0reclarifying\u00a0certain crypto banking permissions last month.\nThe potential for banks to act as custodians, compliance partners or even validators in blockchain networks could open up avenues for growth that align with their core strengths. In today\u2019s changing landscape, inertia is increasingly no longer an option.\nRead more: OCC Says Banks Can Hold Crypto, but Should They?\nThe Deposit Drain Dilemma\nAt the heart of the issue is the role of bank deposits in the financial system. Banks rely on customer deposits to fund loans and support economic activity at the local level. Stablecoins, if adopted widely, could potentially threaten to siphon off those deposits. Users might prefer holding stablecoins in digital wallets over parking money in checking or savings accounts. This potential migration of capital could starve traditional banks of their primary funding source, challenging their ability to lend and compete.\nHowever, this future, if realized, remains far away on the horizon.\n“The use of stablecoins in U.S. domestic payments is roughly zero at the moment. They\u2019re used in crypto, as a store of value for people who don’t have access to the U.S. banking system, and by people making international payments to avoid costs. We see a lot of interest \u2014 for example, instant settlement in the intrabank market \u2014 but that\u2019s in the future,\u201d Adam Shapiro, co-founder and partner at Klaros Group, told PYMNTS in an interview.\n\u201cThe fact is that people generally don\u2019t want to be responsible for looking after large amounts of their money in self-custodied wallets \u2014 they want banks to look after it. If stablecoins do become more commonly used in domestic transactions, banks will simply need to integrate with stablecoins the same way they integrated with platforms like Zelle,\u201d Shapiro added.\nStill, some banks are already choosing to engage rather than retreat. JPMorgan has launched JPM Coin, a blockchain-based stablecoin for institutional clients. Others, like BNY Mellon, are building custody solutions for digital assets, anticipating a future in which banks serve as trusted intermediaries for crypto and tokenized assets.\nSee also:\u00a0Stablecoins Keep Racking Up Milestones, but Can They Crack B2B Payments?\nThe Crypto Landscape\u2019s Regulatory Crossroads\nStablecoins face hurdles of their own: regulatory clarity, scalability and user trust. But payments are becoming faster, cheaper and more programmable. Consumers and businesses are beginning to ask why moving money should still be slow and expensive.\nBut banks are heavily regulated, risk-averse and operationally complex \u2014 a sharp contrast to the nimble, sometimes unregulated players dominating the stablecoin space. For collaboration to thrive, banks must overcome cultural and structural barriers.\nThe creation of a federal framework governing stablecoins is\u00a0important for industry confidence,\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0said in an interview with PYMNTS CEO Karen Webster published Monday (April 7).\n\u201cWithout a federal framework, it is incredibly difficult for financial services firms and international enterprises to really get comfortable in using stablecoins at scale,\u201d Levin said.\nThe U.S. is currently working on such a federal framework. With it in place, forward-looking institutions could become vital nodes in a hybrid financial system, offering compliance, risk management and financial literacy in a digital age.\nBanks might become stablecoin issuers themselves, leveraging their reputations and customer bases to offer branded digital dollars. Alternatively, they could serve as the back end for FinTech platforms, providing the regulatory and custodial scaffolding for digital asset ecosystems.\nUltimately, the question is not whether stablecoins are a threat or opportunity, but whether banks are prepared to reimagine themselves. That requires more than just digital transformation. It demands a willingness to cede control, adopt new business models and engage with communities far outside the traditional banking sphere.\nThe post Are Stablecoins a Threat or an Opportunity for Banks? appeared first on PYMNTS.com.", "date_published": "2025-04-10T11:05:28-04:00", "date_modified": "2025-04-10T11:05:28-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2022/11/Bank-stablecoins.jpg", "tags": [ "banking", "Banks", "Blockchain", "crypto", "Cryptocurrency", "digital assets", "FinTech", "News", "PYMNTS News", "regulations", "stablecoins" ] }, { "id": "https://www.pymnts.com/?p=2681422", "url": "https://www.pymnts.com/cryptocurrency/2025/cryptocurrencies-and-crypto-related-stocks-rise-after-trump-pauses-tariffs/", "title": "Cryptocurrencies and Crypto-Related Stocks Rise After Trump Pauses Tariffs", "content_html": "The prices of cryptocurrencies and crypto-related stocks leapt Wednesday (April 9) after President Donald Trump paused the new tariffs that he had placed on more than 75 countries.
\nAs of 2:55 p.m. ET, bitcoin\u2019s price had surged 7.6% over the previous 24 hours and got back above the $80,000 mark, Seeking Alpha reported Wednesday.
\nSeveral other tokens saw gains of between 14% and 23% at that point in the day, including ondo, hedera hashgraph, sui, pepe, chainlink and avalanche, according to the report.
\nSeveral crypto-related stocks also rose along with the broader market, the report said. Crypto exchange Coinbase Global, corporate bitcoin holder Strategy, crypto asset manager Galaxy Digital and six bitcoin miners saw gains after Trump\u2019s announcement on tariffs, per the report.
\nTrump\u2019s announcement came in a Wednesday post on Truth Social. He said that for 75 countries that have contacted representatives of the U.S. to negotiate a solution to trade issues, and have not \u201cretaliated in any way, shape or form against the United States,\u201d he authorized a 90-day pause and lowered reciprocal tariffs to 10%, effective immediately.
\nIn the same post, Trump said he was raising the tariff on China to 125%, effective immediately, after that country announced retaliatory moves.
\nIt was reported Monday (April 7) that the cryptocurrency prices, including bitcoin and ether, had sunk amid a \u201ctariff-driven pullback.\u201d The losses happened as Trump refused to budge on the widespread tariffs that had already erased trillions in value from U.S. equities.
\nBefore the announcements of tariffs, digital asset prices had been soaring since the election victory of the pro-crypto Trump, with the price of bitcoin hitting record levels on the day of his inauguration.
\nWhen cryptocurrency stocks fell Thursday (April 3) following one of the rounds of White House tariffs, it was reported that the new levies had left investors shaken and led them to sell riskier assets.
\nWhile Trump appears more crypto-friendly than his predecessor, wider economic instability tied to the sector could still affect some companies. However, some analysts argued that the price drops were less dramatic than those seen in other industries.
\nThe post Cryptocurrencies and Crypto-Related Stocks Rise After Trump Pauses Tariffs appeared first on PYMNTS.com.
\n", "content_text": "The prices of cryptocurrencies and crypto-related stocks leapt Wednesday (April 9) after President Donald Trump paused the new tariffs that he had placed on more than 75 countries.\nAs of 2:55 p.m. ET, bitcoin\u2019s price had surged 7.6% over the previous 24 hours and got back above the $80,000 mark, Seeking Alpha reported Wednesday.\nSeveral other tokens saw gains of between 14% and 23% at that point in the day, including ondo, hedera hashgraph, sui, pepe, chainlink and avalanche, according to the report.\nSeveral crypto-related stocks also rose along with the broader market, the report said. Crypto exchange Coinbase Global, corporate bitcoin holder Strategy, crypto asset manager Galaxy Digital and six bitcoin miners saw gains after Trump\u2019s announcement on tariffs, per the report.\nTrump\u2019s announcement came in a Wednesday post on Truth Social. He said that for 75 countries that have contacted representatives of the U.S. to negotiate a solution to trade issues, and have not \u201cretaliated in any way, shape or form against the United States,\u201d he authorized a 90-day pause and lowered reciprocal tariffs to 10%, effective immediately.\nIn the same post, Trump said he was raising the tariff on China to 125%, effective immediately, after that country announced retaliatory moves.\nIt was reported Monday (April 7) that the cryptocurrency prices, including bitcoin and ether, had sunk amid a \u201ctariff-driven pullback.\u201d The losses happened as Trump refused to budge on the widespread tariffs that had already erased trillions in value from U.S. equities.\nBefore the announcements of tariffs, digital asset prices had been soaring since the election victory of the pro-crypto Trump, with the price of bitcoin hitting record levels on the day of his inauguration.\nWhen cryptocurrency stocks fell Thursday (April 3) following one of the rounds of White House tariffs, it was reported that the new levies had left investors shaken and led them to sell riskier assets.\nWhile Trump appears more crypto-friendly than his predecessor, wider economic instability tied to the sector could still affect some companies. However, some analysts argued that the price drops were less dramatic than those seen in other industries.\nThe post Cryptocurrencies and Crypto-Related Stocks Rise After Trump Pauses Tariffs appeared first on PYMNTS.com.", "date_published": "2025-04-09T21:04:07-04:00", "date_modified": "2025-04-09T21:04:07-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/bitcoin-crypto-tariffs.jpg", "tags": [ "Bitcoin", "crypto stocks", "Cryptocurrency", "Donald Trump", "ether", "News", "PYMNTS News", "tariffs", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2681307", "url": "https://www.pymnts.com/cryptocurrency/2025/hill-hearing-focuses-on-regulatory-structure-of-crypto-and-digital-asset-oversight/", "title": "Hill Hearing Focuses on Regulatory Structure of Crypto and Digital Asset Oversight", "content_html": "Securities laws need readjustment to account for some of the unique qualities of digital assets \u2014 and market structure legislation should pave the way for better oversight of those nascent offerings, attorneys and a crypto executive told a Capitol Hill hearing.
\nThe hearing, titled \u201cAmerican Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age,\u201d came against a backdrop of wild trading in crypto holdings. The Trump administration paused recently instituted tariffs for the vast majority of trading partners, while jacking up tariffs on China. Bitcoin, in one example, surged 7% through the day.
\nIn his opening remarks, Subcommittee Chairman Rep. Bryan Steil, R-Wis., said the passage last week of the STABLE Act out of committee was a step forward in the digital assets realm,\u00a0 and, \u201cToday, we will resume our efforts on advancing the second half of this agenda \u2014 comprehensive digital asset market structure legislation.\u201d Rep. French Hill, R-Ark., chairman of the House Financial Services Committee, said that legislation would be coming, in draft form, to address market structure.
\nThe problem with the current regulatory constructs in place are evident as Rodrigo Seira, special counsel at Cooley, said in his testimony,\u00a0\u201cWhile many of crypto\u2019s early use cases have been financial, crypto is a general-purpose technology with countless applications. Crypto provides new ways for individuals to be economically rewarded for their contribution to networks and other public goods, opening the door to people around the country that lack the traditional advantages of capital and credentials.\u201d\u00a0 \u00a0
\nHe added, \u201cIt is clear that the current securities regulatory framework is not a viable option to regulate crypto. It fails to achieve its stated policy goals. \u2026 In practice, however, virtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale. Projects that tried to comply with the SEC\u2019s [U.S. Securities and Exchange Commission] current requirements expended significant resources and effort, only to fail or survive in a state of regulatory uncertainty,\u201d he told the panel. \u00a0\u00a0
\nAlexandra Thornton, a senior director at the Center for American Progress, said in her testimony, \u201cCongress appears determined to pass legislation establishing a light regulatory regime for stablecoins and now for other digital assets\u201d and maintained that \u201cthe digital asset markets have not functioned well so far, with massive asset value swings, billion-dollar losses to investors from hacks, and billions more from frauds,\u201d and said, \u201cThe SEC has dropped enforcement actions against crypto firms. \u2026 The CFPB [Consumer Financial Protection Bureau], which likely would have overseen payment systems for digital platforms, has been kneecapped.\u201d
\nTestimony of Tiffany J. Smith, partner at WilmerHale, indicated that regulatory clarity has been lacking: \u201cIn various speeches, market participants were urged to register with the SEC without a clear path, a number of enforcement actions were brought against market participants, and, in the context of the SEC\u2019s general rulemaking agenda, digital assets were identified in certain proposals but final rules were never adopted.\u201d
\nJacob Werrett, the chief legal officer representing Polygon Labs, a software development company, told lawmakers that \u201cto preserve the use cases and important blockchain features \u2026 successful legislation should accommodate and encourage decentralization,\u201d adding that \u201cvarious tests can be applied to determine whether a blockchain, protocol or token are decentralized. Legislation should consider all parts of the technology stack, such as blockchains, protocols built on those blockchains, applications associated with various protocols, and governance of blockchains and protocols.\u201d
\nThe post Hill Hearing Focuses on Regulatory Structure of Crypto and Digital Asset Oversight appeared first on PYMNTS.com.
\n", "content_text": "Securities laws need readjustment to account for some of the unique qualities of digital assets \u2014 and market structure legislation should pave the way for better oversight of those nascent offerings, attorneys and a crypto executive told a Capitol Hill hearing. \nThe hearing, titled \u201cAmerican Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age,\u201d came against a backdrop of wild trading in crypto holdings. The Trump administration paused recently instituted tariffs for the vast majority of trading partners, while jacking up tariffs on China. Bitcoin, in one example, surged 7% through the day.\nIn his opening remarks, Subcommittee Chairman Rep. Bryan Steil, R-Wis., said the passage last week of the STABLE Act out of committee was a step forward in the digital assets realm,\u00a0 and, \u201cToday, we will resume our efforts on advancing the second half of this agenda \u2014 comprehensive digital asset market structure legislation.\u201d Rep. French Hill, R-Ark., chairman of the House Financial Services Committee, said that legislation would be coming, in draft form, to address market structure.\nExisting Frictions\nThe problem with the current regulatory constructs in place are evident as Rodrigo Seira, special counsel at Cooley, said in his testimony,\u00a0\u201cWhile many of crypto\u2019s early use cases have been financial, crypto is a general-purpose technology with countless applications. Crypto provides new ways for individuals to be economically rewarded for their contribution to networks and other public goods, opening the door to people around the country that lack the traditional advantages of capital and credentials.\u201d\u00a0 \u00a0\nHe added, \u201cIt is clear that the current securities regulatory framework is not a viable option to regulate crypto. It fails to achieve its stated policy goals. \u2026 In practice, however, virtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale. Projects that tried to comply with the SEC\u2019s [U.S. Securities and Exchange Commission] current requirements expended significant resources and effort, only to fail or survive in a state of regulatory uncertainty,\u201d he told the panel. \u00a0\u00a0\nAlexandra Thornton, a senior director at the Center for American Progress, said in her testimony, \u201cCongress appears determined to pass legislation establishing a light regulatory regime for stablecoins and now for other digital assets\u201d and maintained that \u201cthe digital asset markets have not functioned well so far, with massive asset value swings, billion-dollar losses to investors from hacks, and billions more from frauds,\u201d and said, \u201cThe SEC has dropped enforcement actions against crypto firms. \u2026 The CFPB [Consumer Financial Protection Bureau], which likely would have overseen payment systems for digital platforms, has been kneecapped.\u201d \nTestimony of Tiffany J. Smith, partner at WilmerHale, indicated that regulatory clarity has been lacking: \u201cIn various speeches, market participants were urged to register with the SEC without a clear path, a number of enforcement actions were brought against market participants, and, in the context of the SEC\u2019s general rulemaking agenda, digital assets were identified in certain proposals but final rules were never adopted.\u201d\nJacob Werrett, the chief legal officer representing Polygon Labs, a software development company, told lawmakers that \u201cto preserve the use cases and important blockchain features \u2026 successful legislation should accommodate and encourage decentralization,\u201d adding that \u201cvarious tests can be applied to determine whether a blockchain, protocol or token are decentralized. Legislation should consider all parts of the technology stack, such as blockchains, protocols built on those blockchains, applications associated with various protocols, and governance of blockchains and protocols.\u201d\nThe post Hill Hearing Focuses on Regulatory Structure of Crypto and Digital Asset Oversight appeared first on PYMNTS.com.", "date_published": "2025-04-09T18:07:36-04:00", "date_modified": "2025-04-09T18:07:36-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/cryptocurrency-regulation-US-capitol.jpg", "tags": [ "Alexandra Thornton", "Bryan Steil", "Center for American Progress", "crypto regulation", "Cryptocurrency", "digital assets", "French Hill", "House Financial Services Committee", "Jacob Werrett", "News", "Polygon Labs", "PYMNTS News", "regulation", "Rodrigo Seira", "stablecoins", "Tiffany J. Smith" ] }, { "id": "https://www.pymnts.com/?p=2680858", "url": "https://www.pymnts.com/cryptocurrency/2025/mastercard-kraken-team-promote-crypto-payments-europe-united-kingdom/", "title": "Mastercard and Kraken Team to Promote Crypto Payments in the EU and UK", "content_html": "Cryptocurrency platform Kraken launched a payments-focused partnership with Mastercard.
\nThe collaboration will allow Kraken customers in the United Kingdom and Europe to spend crypto assets at more than 150 million merchants that accept Mastercard, according to a Tuesday (April 8) press release.
\n\u201cCrypto is transforming the payments industry, and we envision a future where global commerce and everyday payments are powered by crypto assets,\u201d Kraken co-CEO David Ripley said in the news release. \u201cOur customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision. Together, we will unlock the full potential of crypto assets in everyday life, ensuring their long-term relevance and utility.\u201d
\nThe partnership follows the January launch of Kraken Pay, a feature that allows for instant, borderless payments in more than 300 cryptocurrencies and fiat currencies, per the release. More than 200,000 Kraken customers use the service.
\nVia its partnership with Mastercard, Kraken will expand its payment offering with the launch of physical and digital debit cards in the weeks ahead, \u201cto bridge the gap between the crypto economy and everyday spending,\u201d the release said.
\nLast month, the Securities and Exchange Commission decided to dismiss its lawsuit against Kraken. The SEC in 2023 had charged Kraken with running an unregistered securities exchange, broker, dealer and clearing agency, while also accusing the company of depriving its investors of \u201csignificant protections.\u201d
\nKraken attributed the move to a change in leadership at the White House and the SEC and said the suit was always without merit.
\n\u201cInstead of engaging in that hard but necessary work, prior leadership at the SEC and throughout the government took a regulation-by-enforcement approach that stifled progress and disadvantaged the U.S. against other countries who fostered innovation through fair and transparent digital asset regulatory regimes,\u201d Kraken said March 3.
\nMeanwhile, PYMNTS wrote Wednesday (April 9) about the importance of added security protocols for the crypto space amid the rise of artificial intelligence agents.
\nThe post Mastercard and Kraken Team to Promote Crypto Payments in the EU and UK appeared first on PYMNTS.com.
\n", "content_text": "Cryptocurrency platform Kraken launched a payments-focused partnership with Mastercard.\nThe collaboration will allow Kraken customers in the United Kingdom and Europe to spend crypto assets at more than 150 million merchants that accept Mastercard, according to a Tuesday (April 8) press release.\n\u201cCrypto is transforming the payments industry, and we envision a future where global commerce and everyday payments are powered by crypto assets,\u201d Kraken co-CEO David Ripley said in the news release. \u201cOur customers want to be able to easily pay for real-world goods and services with their cryptocurrencies or stablecoins. Our partnership with Mastercard is a major step in realizing this vision. Together, we will unlock the full potential of crypto assets in everyday life, ensuring their long-term relevance and utility.\u201d\nThe partnership follows the January launch of Kraken Pay, a feature that allows for instant, borderless payments in more than 300 cryptocurrencies and fiat currencies, per the release. More than 200,000 Kraken customers use the service.\nVia its partnership with Mastercard, Kraken will expand its payment offering with the launch of physical and digital debit cards in the weeks ahead, \u201cto bridge the gap between the crypto economy and everyday spending,\u201d the release said.\nLast month, the Securities and Exchange Commission decided to dismiss its lawsuit against Kraken. The SEC in 2023 had charged Kraken with running an unregistered securities exchange, broker, dealer and clearing agency, while also accusing the company of depriving its investors of \u201csignificant protections.\u201d\nKraken attributed the move to a change in leadership at the White House and the SEC and said the suit was always without merit.\n\u201cInstead of engaging in that hard but necessary work, prior leadership at the SEC and throughout the government took a regulation-by-enforcement approach that stifled progress and disadvantaged the U.S. against other countries who fostered innovation through fair and transparent digital asset regulatory regimes,\u201d Kraken said March 3.\nMeanwhile, PYMNTS wrote Wednesday (April 9) about the importance of added security protocols for the crypto space amid the rise of artificial intelligence agents.\nThe post Mastercard and Kraken Team to Promote Crypto Payments in the EU and UK appeared first on PYMNTS.com.", "date_published": "2025-04-09T11:32:40-04:00", "date_modified": "2025-04-09T11:32:40-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Kraken.jpg", "tags": [ "Bitcoin", "Blockchain", "Cryptocurrency", "debit", "debit cards", "digital assets", "digital currency", "europe", "international", "Kraken", "MasterCard", "News", "partnerships", "PYMNTS News", "uk", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2621293", "url": "https://www.pymnts.com/cryptocurrency/2025/report-justice-department-to-end-regulation-by-prosecution-of-crypto-related-activities/", "title": "Report: Justice Department to End \u2018Regulation by Prosecution\u2019 of Crypto-Related Activities", "content_html": "The U.S.\u00a0Justice Department will reportedly limit\u00a0its cryptocurrency enforcement efforts to the use of digital assets in crimes related to things like terrorism, drug cartels and fraud.
\nDeputy Attorney General Todd Blanche said in a Monday (April 7) memo that this change is meant to leave crypto-related activities to regulators, marking a change from the Biden administration\u2019s use of the Justice Department to pursue \u201cregulation by prosecution,\u201d Bloomberg\u00a0reported\u00a0Tuesday (April 8), citing the memo it had seen.
\nThe Justice Department did not immediately reply to PYMNTS\u2019 request for comment.
\nAccording to the Bloomberg report, the memo also said that the Justice Department has disbanded its\u00a0National Cryptocurrency Enforcement Team, plans to close existing investigations that don\u2019t\u00a0align with its new priorities, and will no longer target crypto-related organizations for \u201cacts of their end users or unwitting violations of regulations.\u201d
\nReuters\u00a0reported on the memo Tuesday, saying that Blanche said the basis for the memo is an executive order from President Donald Trump that said the government must ensure users can access \u201copen blockchain networks without persecution.\u201d
\nIn that Jan. 23\u00a0executive order, Trump said his administration supports the responsible use of\u00a0digital assets, blockchain technology and related technologies.
\n\u201cThe digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation\u2019s international leadership,\u201d the order said.
\nAmong other things, the order directs departments and agencies to identify regulations and other actions affecting the digital asset sector that should be rescinded or modified.
\nOn March 21,\u00a0Securities and Exchange Commission (SEC) Acting Chairman\u00a0Mark T. Uyeda said the SEC has changed how it regulates\u00a0digital assets.
\n\u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases \u2014 rather than through enforcement actions \u2014 should have been considered for classifying crypto assets under the federal securities laws,\u201d Uyeda said during a roundtable focused on the regulation of digital assets.
\nOn March 28, the\u00a0Federal Deposit Insurance Corp. (FDIC) provided new guidance saying that FDIC-supervised institutions can engage in crypto-related activities without receiving prior FDIC approval, provided they adequately manage the associated risks.
\nThe post Report: Justice Department to End \u2018Regulation by Prosecution\u2019 of Crypto-Related Activities appeared first on PYMNTS.com.
\n", "content_text": "The U.S.\u00a0Justice Department will reportedly limit\u00a0its cryptocurrency enforcement efforts to the use of digital assets in crimes related to things like terrorism, drug cartels and fraud.\nDeputy Attorney General Todd Blanche said in a Monday (April 7) memo that this change is meant to leave crypto-related activities to regulators, marking a change from the Biden administration\u2019s use of the Justice Department to pursue \u201cregulation by prosecution,\u201d Bloomberg\u00a0reported\u00a0Tuesday (April 8), citing the memo it had seen.\nThe Justice Department did not immediately reply to PYMNTS\u2019 request for comment.\nAccording to the Bloomberg report, the memo also said that the Justice Department has disbanded its\u00a0National Cryptocurrency Enforcement Team, plans to close existing investigations that don\u2019t\u00a0align with its new priorities, and will no longer target crypto-related organizations for \u201cacts of their end users or unwitting violations of regulations.\u201d\nReuters\u00a0reported on the memo Tuesday, saying that Blanche said the basis for the memo is an executive order from President Donald Trump that said the government must ensure users can access \u201copen blockchain networks without persecution.\u201d\nIn that Jan. 23\u00a0executive order, Trump said his administration supports the responsible use of\u00a0digital assets, blockchain technology and related technologies.\n\u201cThe digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation\u2019s international leadership,\u201d the order said.\nAmong other things, the order directs departments and agencies to identify regulations and other actions affecting the digital asset sector that should be rescinded or modified.\nOn March 21,\u00a0Securities and Exchange Commission (SEC) Acting Chairman\u00a0Mark T. Uyeda said the SEC has changed how it regulates\u00a0digital assets.\n\u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases \u2014 rather than through enforcement actions \u2014 should have been considered for classifying crypto assets under the federal securities laws,\u201d Uyeda said during a roundtable focused on the regulation of digital assets.\nOn March 28, the\u00a0Federal Deposit Insurance Corp. (FDIC) provided new guidance saying that FDIC-supervised institutions can engage in crypto-related activities without receiving prior FDIC approval, provided they adequately manage the associated risks.\nThe post Report: Justice Department to End \u2018Regulation by Prosecution\u2019 of Crypto-Related Activities appeared first on PYMNTS.com.", "date_published": "2025-04-08T14:56:21-04:00", "date_modified": "2025-04-08T14:56:21-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/DOJ-cryptocurrency-regulation.jpg", "tags": [ "crypto", "crypto regulation", "Cryptocurrency", "Department of Justice", "digital assets", "DoJ", "justice department", "News", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2614433", "url": "https://www.pymnts.com/cryptocurrency/2025/state-regulators-push-back-on-proposed-federal-control-of-stablecoin-industry/", "title": "State Regulators Push Back on Proposed Federal Control of Stablecoin Industry", "content_html": "Crypto\u2019s biggest success story, after a litany of industry failures, has been stablecoins.
\nThe asset-pegged digital tokens, designed to maintain their stability and facilitate non-volatile financial applications across blockchains, have to-date grown so much that there exist around $234 billion in circulation.
\nBut while the top 10 stablecoins by market share, representing well over 90% of the tokens in issuance, are U.S. dollar-denominated, the U.S. still does not have a regulatory framework in place to govern the sector.
\nLawmakers are trying to change that, particularly in light of the current administration\u2019s comparatively warm embrace of the crypto space. Still, as Congress wrestles with establishing a coherent regulatory framework for stablecoins, the recently introduced Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act has sparked sharp opposition from certain areas.
\nIn an April 1\u00a0letter addressed\u00a0to Representatives French Hill and Maxine Waters of the House Financial Services Committee, the Conference of State Bank Supervisors (CSBS) expressed significant concerns over the bill\u2019s approach, which it argues dangerously expands federal oversight at the expense of state regulatory authority.
\nThe CSBS, a nationwide organization representing state banking and financial regulators, supports the concept of a comprehensive national framework for payment stablecoin issuers (PSIs). However, it emphasizes that the STABLE Act, as currently drafted, could undermine the established state regulatory systems and disrupt the delicate balance of cooperative federalism that has fostered American financial innovation.
\nRead also: Stablecoins Keep Racking Up Milestones, but Can They Crack B2B Payments?
\nAccording to the CSBS, the STABLE Act\u2019s attempt to centralize power over the emerging stablecoin industry within a single federal agency jeopardizes a decade of progress made at the state level. States like California, New York, Louisiana, Texas and Wyoming have established frameworks governing digital asset firms and have successfully regulated over $50 billion in stablecoin activity.
\nThe STABLE Act, however, seeks to preempt state authority over various PSI-related activities. Specifically, it extends federal preemption to PSI subsidiaries of both national and state-chartered banks, as well as to non-stablecoin activities approved by federal regulators. The CSBS contends that such a sweeping grant of power could destabilize existing state systems and create operational risks that extend beyond the financial stability of PSIs.
\nThe CSBS also highlights inadequacies in the bill\u2019s capital and liquidity requirements, which it claims are insufficient to mitigate financial stability risks. By restricting capital to amounts necessary for ongoing operations and prohibiting leverage and risk-based capital requirements, the bill fails to address potential redemption runs and liquidity risks.
\nAt the same time, the letter raises concerns over consumer protection in the event of issuer bankruptcy. The bill\u2019s provisions regarding bankruptcy procedures are described as inadequate, with customers potentially facing prolonged delays in accessing their funds. The CSBS recommends implementing safeguards such as requiring reserves to be held in off-balance sheet trusts, which would render consumer funds bankruptcy remote and facilitate faster resolution of claims.
\nRead more:\u00a0Why Banks Might Want to Have a Blockchain Strategy
\nUltimately, the CSBS argues that the STABLE Act, in its current form, represents a missed opportunity to establish a balanced, effective and cooperative regulatory framework for stablecoins. While a national framework is necessary to provide consistency and consumer protection, the CSBS warns against allowing a single federal agency to exert unilateral control over the industry.
\nStill, the creation of a federal framework governing stablecoins is\u00a0important for industry confidence,\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0said in an interview with PYMNTS CEO Karen Webster published Monday (April 7).
\n\u201cWithout a federal framework, it is incredibly difficult for financial services firms and international enterprises to really get comfortable in using stablecoins at scale,\u201d Levin said.
\nThe letter comes against a backdrop where America\u2019s changing cryptocurrency landscape could soon bring\u00a0Tether\u2019s\u00a0stablecoin to the U.S. The\u00a0Trump administration has\u00a0invigorated the crypto sector\u00a0with its\u00a0deregulatory focus\u00a0and\u00a0laudatory promises\u00a0to make the U.S. the \u201ccrypto capital of the world,\u201d and the Securities and Exchange Commission\u2019s (SEC) Division of Corporate Finance also recently determined that stablecoins are\u00a0not securities\u00a0and do not need to be registered.
\nMeanwhile, a separate Senate stablecoin bill, the\u00a0GENIUS Act, is reportedly on a \u201cfast track\u201d after being advanced by an 18-6 vote with bipartisan support in the Senate Banking Committee.\u00a0This bill is said to be\u00a0a priority for President Donald Trump.
\nThe post State Regulators Push Back on Proposed Federal Control of Stablecoin Industry appeared first on PYMNTS.com.
\n", "content_text": "Crypto\u2019s biggest success story, after a litany of industry failures, has been stablecoins.\nThe asset-pegged digital tokens, designed to maintain their stability and facilitate non-volatile financial applications across blockchains, have to-date grown so much that there exist around $234 billion in circulation.\nBut while the top 10 stablecoins by market share, representing well over 90% of the tokens in issuance, are U.S. dollar-denominated, the U.S. still does not have a regulatory framework in place to govern the sector.\nLawmakers are trying to change that, particularly in light of the current administration\u2019s comparatively warm embrace of the crypto space. Still, as Congress wrestles with establishing a coherent regulatory framework for stablecoins, the recently introduced Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act has sparked sharp opposition from certain areas.\nIn an April 1\u00a0letter addressed\u00a0to Representatives French Hill and Maxine Waters of the House Financial Services Committee, the Conference of State Bank Supervisors (CSBS) expressed significant concerns over the bill\u2019s approach, which it argues dangerously expands federal oversight at the expense of state regulatory authority.\nThe CSBS, a nationwide organization representing state banking and financial regulators, supports the concept of a comprehensive national framework for payment stablecoin issuers (PSIs). However, it emphasizes that the STABLE Act, as currently drafted, could undermine the established state regulatory systems and disrupt the delicate balance of cooperative federalism that has fostered American financial innovation.\nRead also: Stablecoins Keep Racking Up Milestones, but Can They Crack B2B Payments?\nState Regulators Push Back Against Federal Preemption\nAccording to the CSBS, the STABLE Act\u2019s attempt to centralize power over the emerging stablecoin industry within a single federal agency jeopardizes a decade of progress made at the state level. States like California, New York, Louisiana, Texas and Wyoming have established frameworks governing digital asset firms and have successfully regulated over $50 billion in stablecoin activity.\nThe STABLE Act, however, seeks to preempt state authority over various PSI-related activities. Specifically, it extends federal preemption to PSI subsidiaries of both national and state-chartered banks, as well as to non-stablecoin activities approved by federal regulators. The CSBS contends that such a sweeping grant of power could destabilize existing state systems and create operational risks that extend beyond the financial stability of PSIs.\nThe CSBS also highlights inadequacies in the bill\u2019s capital and liquidity requirements, which it claims are insufficient to mitigate financial stability risks. By restricting capital to amounts necessary for ongoing operations and prohibiting leverage and risk-based capital requirements, the bill fails to address potential redemption runs and liquidity risks.\nAt the same time, the letter raises concerns over consumer protection in the event of issuer bankruptcy. The bill\u2019s provisions regarding bankruptcy procedures are described as inadequate, with customers potentially facing prolonged delays in accessing their funds. The CSBS recommends implementing safeguards such as requiring reserves to be held in off-balance sheet trusts, which would render consumer funds bankruptcy remote and facilitate faster resolution of claims.\nRead more:\u00a0Why Banks Might Want to Have a Blockchain Strategy\nLooking to the Road Ahead for Stablecoins in the US \nUltimately, the CSBS argues that the STABLE Act, in its current form, represents a missed opportunity to establish a balanced, effective and cooperative regulatory framework for stablecoins. While a national framework is necessary to provide consistency and consumer protection, the CSBS warns against allowing a single federal agency to exert unilateral control over the industry.\nStill, the creation of a federal framework governing stablecoins is\u00a0important for industry confidence,\u00a0Chainalysis\u00a0Co-founder and CEO\u00a0Jonathan Levin\u00a0said in an interview with PYMNTS CEO Karen Webster published Monday (April 7).\n\u201cWithout a federal framework, it is incredibly difficult for financial services firms and international enterprises to really get comfortable in using stablecoins at scale,\u201d Levin said.\nThe letter comes against a backdrop where America\u2019s changing cryptocurrency landscape could soon bring\u00a0Tether\u2019s\u00a0stablecoin to the U.S. The\u00a0Trump administration has\u00a0invigorated the crypto sector\u00a0with its\u00a0deregulatory focus\u00a0and\u00a0laudatory promises\u00a0to make the U.S. the \u201ccrypto capital of the world,\u201d and the Securities and Exchange Commission\u2019s (SEC) Division of Corporate Finance also recently determined that stablecoins are\u00a0not securities\u00a0and do not need to be registered.\nMeanwhile, a separate Senate stablecoin bill, the\u00a0GENIUS Act, is reportedly on a \u201cfast track\u201d after being advanced by an 18-6 vote with bipartisan support in the Senate Banking Committee.\u00a0This bill is said to be\u00a0a priority for President Donald Trump.\nThe post State Regulators Push Back on Proposed Federal Control of Stablecoin Industry appeared first on PYMNTS.com.", "date_published": "2025-04-08T10:55:43-04:00", "date_modified": "2025-04-08T22:31:15-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2022/08/crypto-regulation-stablecoins.jpg", "tags": [ "B2B", "B2B Payments", "commercial payments", "Conference of State Bank Supervisors", "crypto", "crypto regulation", "Cryptocurrency", "CSBS", "digital assets", "Featured News", "House Financial Services Committee", "Legislation", "News", "PYMNTS News", "regulations", "STABLE Act", "stablecoins" ] }, { "id": "https://www.pymnts.com/?p=2557220", "url": "https://www.pymnts.com/cryptocurrency/2025/bitcoin-price-sinks-amid-tariff-driven-pullback/", "title": "Bitcoin Price Sinks Amid \u2018Tariff-Driven Pullback\u2019", "content_html": "Cryptocurrency prices sank early Monday (April 7) in Asia, collateral damage in America\u2019s trade war.
\nAccording to a Bloomberg News report, Bitcoin lost around 7% of its value Sunday (April 6) night into Monday morning in Singapore, hitting a low of $77,077. The second-most-popular crypto token, Ether, fell to $1,538, an intra-day low unseen since October of 2023.
\nThese losses are happening as President Donald Trump refuses to budge on the widespread tariffs that have already erased trillions in value from U.S. equities. U.S. equity-index futures, the report added, fell while the yen surged, signaling increasing upheaval in the financial markets.
\nThe report cites data from CoinGlass showing that around $745 million in \u201cbullish crypto wagers\u201d had been liquidated in the previous 24 hours, the highest level in almost six weeks.
\nMonday\u2019s drop continued a trend that began last week following the reveal of new tariffs on countries throughout the world.\u00a0
\n\u201cFor now \u2014 markets hate uncertainty, so we can expect to see even more choppy trading in the coming weeks/months and a delay to the next spike up (either way it is only a delay) \u2014 that is unless President Trump has yet another strong statement about the crypto industry up his ever-expanding sleeve,\u201d said Stephen Wundke, director of strategy and revenue at quantitative digital asset investment firm Algoz.\u00a0
\n\u201cThe one thing we know for certain is that nothing, currently emanating from the White House, is certain.\u201d
\nDigital asset prices had been soaring since the pro-crypto Trump\u2019s election victory last fall, with the price of bitcoin hitting record levels on the day of his inauguration.
\nAs Bloomberg notes, digital assets had managed to withstand some of the shakiness that hit the market when Trump first announced his tariff program. This latest selloff could mark a change.
\n\u201cMacro is driving the action right now,\u201d Cosmo Jiang, general partner at Pantera Capital, told Bloomberg. \u201cThe tariff-driven pullback is idiosyncratic and not because of deeper issues in our economy. Just like it was artificially injected in, so too can it be taken out after the Trump administration feels it has won concessions from other countries.\u201d
\nAs covered here Monday, every single category tracked in PYMNTS\u2019 CE 100 Index was down last week, with even the \u201cbest\u201d performing group up just 4%.
\n\u201cBanking names lost nearly 16% for the week, as credit risks seem to be deepening; payments-focused names lost 11% as consumer spending is now at risk of being impacted by sticker shock on everything from cars to avocados,\u201d the report said.
\nMeanwhile, PYMNTS wrote last week about the most recent jobs report, which showed trends that indicate a gradual cooling. However, that was before the tariff announcements shook up the stock market, which could in turn lead businesses to become more hesitant on hiring. Thus, the cooling could turn into a \u201cchilling,\u201d\u00a0the report added.
\n\n
The post Bitcoin Price Sinks Amid \u2018Tariff-Driven Pullback\u2019 appeared first on PYMNTS.com.
\n", "content_text": "Cryptocurrency prices sank early Monday (April 7) in Asia, collateral damage in America\u2019s trade war.\nAccording to a Bloomberg News report, Bitcoin lost around 7% of its value Sunday (April 6) night into Monday morning in Singapore, hitting a low of $77,077. The second-most-popular crypto token, Ether, fell to $1,538, an intra-day low unseen since October of 2023.\nThese losses are happening as President Donald Trump refuses to budge on the widespread tariffs that have already erased trillions in value from U.S. equities. U.S. equity-index futures, the report added, fell while the yen surged, signaling increasing upheaval in the financial markets.\nThe report cites data from CoinGlass showing that around $745 million in \u201cbullish crypto wagers\u201d had been liquidated in the previous 24 hours, the highest level in almost six weeks.\nMonday\u2019s drop continued a trend that began last week following the reveal of new tariffs on countries throughout the world.\u00a0\n\u201cFor now \u2014 markets hate uncertainty, so we can expect to see even more choppy trading in the coming weeks/months and a delay to the next spike up (either way it is only a delay) \u2014 that is unless President Trump has yet another strong statement about the crypto industry up his ever-expanding sleeve,\u201d said Stephen Wundke, director of strategy and revenue at quantitative digital asset investment firm Algoz.\u00a0\n\u201cThe one thing we know for certain is that nothing, currently emanating from the White House, is certain.\u201d\nDigital asset prices had been soaring since the pro-crypto Trump\u2019s election victory last fall, with the price of bitcoin hitting record levels on the day of his inauguration.\nAs Bloomberg notes, digital assets had managed to withstand some of the shakiness that hit the market when Trump first announced his tariff program. This latest selloff could mark a change.\n\u201cMacro is driving the action right now,\u201d Cosmo Jiang, general partner at Pantera Capital, told Bloomberg. \u201cThe tariff-driven pullback is idiosyncratic and not because of deeper issues in our economy. Just like it was artificially injected in, so too can it be taken out after the Trump administration feels it has won concessions from other countries.\u201d\nAs covered here Monday, every single category tracked in PYMNTS\u2019 CE 100 Index was down last week, with even the \u201cbest\u201d performing group up just 4%.\n\u201cBanking names lost nearly 16% for the week, as credit risks seem to be deepening; payments-focused names lost 11% as consumer spending is now at risk of being impacted by sticker shock on everything from cars to avocados,\u201d the report said.\nMeanwhile, PYMNTS wrote last week about the most recent jobs report, which showed trends that indicate a gradual cooling. However, that was before the tariff announcements shook up the stock market, which could in turn lead businesses to become more hesitant on hiring. Thus, the cooling could turn into a \u201cchilling,\u201d\u00a0the report added.\n \nThe post Bitcoin Price Sinks Amid \u2018Tariff-Driven Pullback\u2019 appeared first on PYMNTS.com.", "date_published": "2025-04-07T07:04:33-04:00", "date_modified": "2025-04-07T07:04:33-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/crypto-bitcoin-decline.jpg", "tags": [ "Bitcoin", "crypto", "Crypto Prices", "crypto trading", "cryptocurrencies", "Cryptocurrency", "digital assets", "News", "PYMNTS News", "tariffs", "trade war", "What's Hot" ] } ] }