ChainCatcher news, according to CoinDesk, the U.S. Senate Banking Committee held its first hearing on digital assets, focusing on stablecoin legislation and Congress's role in future crypto regulation.The hearing was chaired by crypto-friendly Senator Cynthia Lummis, who stated that Congress is close to introducing a bipartisan framework for stablecoin and market structure legislation, but stablecoin regulation will be prioritized. Former CFTC Chairman Timothy Massad suggested that Congress should postpone market structure legislation for several years until the current regulatory frameworks of the SEC and CFTC are implemented and adjusted.Additionally, Senator Mark Warner expressed concerns about stablecoin KYC issues, pointing out that while issuers perform KYC, stablecoins do not undergo identity verification when circulating between wallets, which could be used for illegal activities. Lightspark Chief Legal Officer Jai Massari responded that blockchain can provide immutable on-chain records and suggested further development of tracking tools to balance privacy and compliance.

ChainCatcher news, U.S. Senate Banking Committee Chair Cynthia Lummis posted on the X platform calling for the United States to launch a bipartisan-supported regulatory framework for stablecoins, as the stablecoin race has already begun and the U.S. is falling behind.

ChainCatcher news, according to The Block, Circle and Tether have differing views on U.S. stablecoin regulation. Circle CEO Jeremy Allaire believes that "there shouldn't be a free pass," and stablecoins pegged to the dollar should be registered and operated in the U.S. Meanwhile, Tether CEO Paolo Ardoino claims that USDT is the most successful tool for dollar hegemony and distribution in emerging markets, and believes that the true intention of its "competitors" is to "kill Tether."It is worth noting that a portion of Tether's reserves is managed by Cantor Fitzgerald, and the company's former CEO Howard Lutnick was recently appointed by Trump as the U.S. Secretary of Commerce. In January of this year, Trump also signed an executive order to protect the dollar, aimed at strengthening the U.S. government's support for stablecoin issuers, which includes efforts to promote the growth and development of dollar-backed compliant stablecoins.

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal posted on social media, "Case dismissal" is the phrase every defendant in a case longs to hear. The U.S. Securities and Exchange Commission will dismiss the Coinbase case, and there will be no settlement or compromise ------ mistakes will only be corrected.However, Coinbase still has a lot of work to do and cannot be distracted. Legislation is crucial to ensure that such illegal activities do not happen again. Coinbase will not stop fighting until clear rules are established that allow the industry to truly thrive in the U.S. Collaboration will be key, and we look forward to working with U.S. Congress and SEC staff to drive progress in the next phase.

ChainCatcher news, according to CoinDesk, S&P Global Ratings stated in a report on Wednesday that the lack of stablecoin regulation in the U.S. is one of the main barriers to the adoption of this currency.Analysts led by Mohamed Damak pointed out that the lack of regulation is one of the main obstacles to the adoption of stablecoins in the U.S. and hinders the broader institutional adoption of stablecoins, which are expected to play an increasingly important role in on-chain transactions. It is anticipated that once regulation is in place, the adoption rate will increase.

ChainCatcher news, according to CoinDesk Japan, the Financial Services Agency of Japan approved the Financial Review Council's working group report on the payment settlement system on February 19. The report underwent seven rounds of discussions and proposes a new regulatory framework for cryptocurrency exchanges and stablecoins.The report suggests incorporating relevant provisions of the Financial Instruments and Exchange Act into the Payment Settlement Act to enhance user protection in the event of exchange bankruptcies. It also proposes the introduction of a "belonging system" for cryptocurrency trading, requiring intermediaries to be affiliated with specific exchanges and prohibiting them from holding user assets.Regarding stablecoin regulation, the report allows issuing institutions to allocate up to 50% of their assets to short-term government bonds and specific time deposits, no longer limited to demand deposits. This regulatory framework has been submitted for approval by Financial Services Agency official Katsunobu Kato, and the relevant legislative work is set to begin soon.

ChainCatcher news, Fox Business reporter Eleanor Terrett revealed that the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group is documenting all its meetings with industry participants.So far, the working group has met with the Blockchain Association, Jito Labs, Multicoin Capital, Nasdaq, and Colin Lloyd, a partner in the Commodity Futures Derivatives and Capital Markets team at Sullivan & Cromwell.The discussions mainly focused on regulatory issues and how new institutional proposals will impact specific markets and products.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X: "Insiders reveal that as digital assets become a top priority for regulators, the SEC and CFTC are currently discussing how to effectively collaborate on cryptocurrency regulation.One idea is to reinstate the charter of the CFTC-SEC Joint Advisory Committee, which was established in 2010 to provide a platform for discussing emerging regulatory issues affecting both agencies. The committee has been inactive since 2014.The CFTC acting chair last year called for reform of the advisory committee, stating that it is a strong signal of a new collaborative and cooperative regulatory approach to digital assets in the U.S."

ChainCatcher news, Fox Business reporter Eleanor Terrett revealed that the SEC will respond to Coinbase's appeal request on February 14. Previously, Judge Failla had approved Coinbase's request for an interlocutory appeal regarding whether the existing securities laws apply to its platform's digital assets.The SEC currently faces four options: first, oppose the appeal request, maintaining the stance from the Gensler era that securities laws clearly apply to most crypto tokens, despite the current acting chair Uyeda and Commissioner Peirce both stating that the law in this area is not clear; second, not oppose the appeal, indicating a willingness to address the applicability of securities laws through a crypto working group; third, request an extension; fourth, choose to withdraw the lawsuit.The SEC's decision will serve as an important indicator of its stance on crypto regulation under the new leadership.

ChainCatcher news, Ripple CEO Brad Garlinghouse posted on the X platform stating, "Any criticism of today's press conference is 'missing the forest for the trees.' The chairmen of the Senate Banking Committee, the House Financial Services Committee, the Senate Agriculture Committee, and the House Agriculture Committee joined the crypto czar's press conference, committing to clarity legislation for cryptocurrencies, which is 100% a big deal (and something we've never seen before)."

ChainCatcher news, according to Petra, Jordan has announced plans to develop a comprehensive regulatory framework for virtual and digital assets within a year, aimed at aligning with global standards and promoting the development of its digital economy.The plan will be led by the Jordan Securities Commission (JSC) and supported by the National Future Technology Committee, focusing on creating the necessary legal and technical infrastructure to oversee cryptocurrency trading platforms and virtual asset activities.A ministerial committee led by the Minister of Digital Economy and Entrepreneurship will manage the challenges and guide the implementation of these regulations, consisting of officials from the country's central bank, JSC, and the National Cybersecurity Center.This move comes as Jordan seeks to address the vulnerabilities highlighted by the Financial Action Task Force (FATF). Due to concerns over virtual asset risks and money laundering loopholes, the task force placed Jordan on the gray list in 2023.

ChainCatcher News: A federal court in California has made a partial ruling in the SEC vs. Kraken case. The court dismissed Kraken's core defense argument that "Congress did not authorize the SEC to regulate cryptocurrency," supporting the SEC's regulatory authority over crypto assets.

ChainCatcher news, according to Bitcoin.com, Binance CEO Richard Teng recently stated that under the regulatory changes led by Trump, strategic initiatives in the U.S., and the momentum supporting cryptocurrencies, he predicts that Bitcoin will reach an all-time high in 2025.He emphasized that the policies of the Trump administration could bring the much-needed regulatory clarity, driving the next phase of growth for cryptocurrencies like Bitcoin. Teng also pointed out that the support from U.S. lawmakers and regulators for cryptocurrencies is increasing, and legislation regarding token issuance, trading, and asset management may move forward. He commented, "Compared to the past, both the House and the Senate now support cryptocurrencies."

ChainCatcher news, 1confirmation founder Nick Tomaino stated that crony capitalism has become the biggest threat to the development of the cryptocurrency industry in the United States. Although there are constant doubts about Ripple within the industry, many individuals and companies are actively lobbying the new government behind the scenes, trying to influence policy-making to gain an advantage.Tomaino emphasized that clear regulatory guidance is certainly important, but it must be centered on promoting the free development of the industry, avoiding the destruction of the U.S. cryptocurrency industry by favoring certain "well-connected" projects.

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan stated that with the appointment of AI and cryptocurrency "czar" David Sacks by Trump to advance reasonable regulatory policies, fraud and bad actors in the crypto industry will significantly decrease over the next four years. Hougan believes that the previously enforcement-oriented regulatory approach has actually increased risks for investors.Previously, Sacks indicated that the Digital Asset Working Group would focus on establishing market structure norms, a regulatory framework for stablecoins, and assessing national digital asset reserves.

ChainCatcher news, according to Bitcoin News, Kenya is drafting a new regulatory bill for digital assets.It is reported that nearly 10% of the country's population is involved in cryptocurrency activities. The proposed bill will focus on the licensing management of cryptocurrency exchanges and wallets.

ChainCatcher news, according to CoinDesk, Deutsche Bank's latest report indicates an optimistic outlook for the world's largest cryptocurrency, Bitcoin (BTC), with prices expected to remain high in 2025. The report suggests that a more favorable regulatory and political environment in the U.S., increased institutional adoption, and the Federal Reserve's loose monetary policy will support Bitcoin prices.The report notes that the Trump administration's support for cryptocurrencies means that the current bull market will continue, and the president's ongoing support is key to the "continuation of the golden age of cryptocurrencies." Additionally, the SEC will establish a regulatory framework for digital assets, and the appointment of Paul Atkins as SEC chairman also indicates that regulation is shifting towards a more innovation-friendly direction.