Brian Armstrong, CEO of US crypto exchange Coinbase, believes that the upcoming 2024 US presidential election could drastically change the legal status of the crypto industry.
Crypto custodian Prime Trust has been issued a directive from the Nevada Department of Business and Industry that requires it to suspend fiat and digital asset deposits and withdrawals.
The House Financial Services Committee is due to start debating two proposed laws in the second week of July that seek to create a distinct path for digital assets to transition from security investments to commodities with lower reporting and regulatory requirements.
Federal Reserve Chairman Jerome Powell expressed support for a strong federal role in regulating the stablecoin sector on Wednesday.
Grayscale Investments’ GBTC has seen a remarkable 400% increase in trading volume, jumping from $16.1 million to $80 million.