ChainCatcher news, Federal Reserve Governor Waller stated that U.S. regulators should directly address the risks of stablecoins, stablecoins will benefit from regulation, and stablecoins may expand the role of the U.S. dollar globally. Allow banks and non-banks to issue stablecoins.

ChainCatcher news, according to CoinDesk, Caroline Pham, the acting head of the U.S. Commodity Futures Trading Commission (CFTC), is pushing for a tokenization pilot program backed by stablecoins. The program will invite executives from digital asset companies such as Coinbase, Ripple, and Circle to participate, but specific dates and details have yet to be determined. Last November, Pham proposed the idea of a tokenization regulatory sandbox through the Global Markets Advisory Committee, but it was not adopted by the previous leadership.Pham stated that this move will promote "responsible innovation," utilizing distributed ledger technology (DLT) to use non-cash collateral, enhancing the U.S.'s global leadership in the digital asset space. Her proposal also mentioned that by improving the infrastructure for regulatory margin-eligible assets, DLT helps address challenges without changing collateral eligibility rules, allowing market participants to identify and manage risks associated with the use of DLT under existing policies.

ChainCatcher news, KuCoin has reached a favorable settlement agreement with U.S. regulators, marking an important milestone in the company's development. According to the settlement agreement, the U.S. Department of Justice has agreed to dismiss all charges against KuCoin founder Michael Gan and co-founder Eric Tang upon meeting certain conditions.As part of the settlement agreement, Michael announced that he will step down from all positions related to KuCoin and its affiliates. In his statement, he expressed heartfelt gratitude for the trust and support from the KuCoin community and stated that he is confident in the leadership team led by BC Wong, believing that under their guidance, KuCoin will continue to grow and create value for users and the industry.Looking ahead, Michael stated that he will focus on new projects aimed at driving growth and innovation in the cryptocurrency industry.

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, according to CNBC, Morgan Stanley CEO Ted Pick stated that the bank will work with U.S. regulators to explore whether it can engage more deeply in the cryptocurrency market.Pick said, "For us, the key question is whether, as a heavily regulated financial institution, we can act as a dealer. We will collaborate with the Treasury and other regulators to explore how to provide this service in a safe manner."

ChainCatcher news, according to CSBS, based on the official announcement, in a coordinated law enforcement action by financial regulators in 48 states in the U.S., Block, Inc. will pay a fine of $80 million and take corrective measures to address violations of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws, which protect the financial system from illegal use.It is reported that over 50 million consumers use Block's mobile payment service Cash App to spend, remit, store, and invest. In the multistate settlement agreement signed this week, Block agreed to pay fines to state government agencies, hire an independent consultant to review the comprehensiveness and effectiveness of its BSA/AML program, and submit reports to the states within 9 months. After the report submission, Block will have 12 months to correct any deficiencies identified in the review.

ChainCatcher News, U.S. regulators plan to strengthen customer protections for cryptocurrency accounts.U.S. consumer banking regulators suggest that U.S. cryptocurrency companies should be responsible for refunds when customer accounts are hacked, aligning the standards for digital wallets with those of bank accounts.The U.S. Consumer Financial Protection Bureau (CFPB) stated on Friday that it hopes to mandate service providers to compensate consumers who lose funds due to hacking or unauthorized transactions. This move by the CFPB will force digital asset companies to enhance security and reserves to address operational threats.The CFPB is seeking to expand the scope of the Electronic Fund Transfer Act to protect customers from payment fraud. The agency aims to broaden the term "funds" to include any asset that "acts or is used like money." The proposal states that this would include stablecoins, cryptocurrency tokens similar to digital dollars, and "any other fungible assets in similar positions that serve as a medium of exchange or a means of payment for goods or services."

ChainCatcher news, four asset management companies have submitted applications to U.S. regulators to create investment Bitcoin ETFs, but using derivatives to minimize or completely hedge potential losses.Calamos Investments has applied for four actively managed ETFs.First Trust Portfolios has applied to establish a 15% floor ETF and a buffered ETF aimed at hedging the first 30% of losses.Innovator ETFs is seeking to launch a three-month buffered product with a 10% return. The company has also applied to launch a three-month actively managed ETF with a 20% return and has set a "participation rate."Grayscale Investments also plans to launch a covered call Bitcoin ETF, which will sell call options on a spot Bitcoin ETF. This will reduce the potential price appreciation when Bitcoin rises, but can provide regular premium income.

ChainCatcher news, according to Bitcoin.com, Ripple's Chief Legal Officer Stuart Alderoty emphasized that he believes U.S. regulators have meticulously planned to stifle the cryptocurrency industry. In recent years, the cryptocurrency industry has faced significant challenges, which the industry refers to as "Operation Chokepoint 2.0," a coordinated effort by U.S. regulators to restrict banking services related to cryptocurrency businesses.Alderoty recently shared his views on Operation Chokepoint 2.0 on the social media platform X, mentioning a 2012 initiative where, reportedly, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) pressured banks to stop providing services to certain industries.Alderoty believes that cryptocurrency has now become the main focus of similar strategies, noting: "In 2012, regulators (FDIC, OCC, Federal Reserve) used banks as a weapon against unpopular industries (gun shops, payday lenders, etc.) under the initial 'Operation Chokepoint.' Fast forward to 2021: cryptocurrency is the new target."

ChainCatcher news, according to Bloomberg, Donald R. Wilson, the founder of one of the world's largest trading firms, DRW Holdings LLC, stated in an interview that the regulatory framework of the U.S. securities industry needs to be rethought.He pointed out, "The friction between the SEC and CFTC has always been a counterproductive force, suggesting starting from scratch, abolishing the existing SEC and CFTC, and creating a brand new regulatory agency."

ChainCatcher news, according to public documents from the U.S. Securities and Exchange Commission, 21Shares has submitted an S-1 form to apply for an XRP ETF, which is named 21Shares Core XRP Trust.

ChainCatcher News, U.S. state securities regulators have stated that most of their investigations and enforcement actions in 2023 stem from technology and digital assets.In new investigations launched in 2023, 343 cases involved digital assets, 144 involved staking, and 205 involved social media fraud. The North American Securities Administrators Association stated in a release earlier this week that these numbers represent a "significant increase" compared to 2022.According to the 2024 Enforcement Report released on Tuesday, throughout the entire calendar and fiscal year of 2023, state regulators also reported 214 cases involving stocks and equity, as well as 145 cases involving Ponzi schemes and pyramid schemes. The report was compiled through a survey of NASAA members, including responses from 49 member jurisdictions of the association.

ChainCatcher news, according to a report by Fortune magazine citing informed sources, Kamala Harris's team has actually given serious consideration to an invitation to speak at the Bitcoin 2024 conference. This in itself is news. As a Democratic candidate, her leadership has consistently held a hostile attitude towards cryptocurrency, and her "negotiations" to address 30,000 Bitcoin enthusiasts reflect how much policy might change under Harris's leadership.Gary DeWaal, a former senior trial attorney at the U.S. Commodity Futures Trading Commission (CFTC), told Fortune magazine that he does not expect Harris to comment on cryptocurrency before August 7, when she will announce her vice presidential pick. "That's her priority right now," he said.First, when Biden became president, many of his economic advisors were former colleagues of Senator Elizabeth Warren (D-Mass.), who is a staunch critic of cryptocurrency. Harris does not have that connection. The cryptocurrency lobbyist indicated that Harris's tech advisors are considered pro-cryptocurrency, and her husband Douglas Emhoff is a "crypto enthusiast." He added, "I expect her to shift her stance."A possible positive signal is that this week billionaire and Bitcoin enthusiast Mark Cuban told Decrypt that he received multiple inquiries about cryptocurrency from Harris's team.