• Rep. Maxine Waters has come out against PayPal’s stablecoin and is pushing for financial institutions to be regulated similarly.
• The jury trial for the SEC v Ripple Labs case has been set for Q2 2024.
• Coinbase’s Ethereum layer-2 chain, Base, is now available to the public.
Rep. Maxine Waters Criticizes PayPal’s Stablecoin
Rep. Maxine Waters has criticized PayPal’s stablecoin and called for it to be regulated in a similar fashion as financial institutions. She believes that the issue of cryptocurrency regulation needs to be addressed more seriously by government organizations and regulators alike.
SEC v Ripple Labs Jury Trial Set For Q2 2024
The jury trial in the SEC v Ripple Labs case has been scheduled for Q2 2024. This case centers around whether or not XRP is considered an unregistered security, with both sides presenting their arguments before a judge and jury will decide on the outcome of the dispute.
Coinbase’s Ethereum Layer-2 Chain Live To Public
Coinbase’s Ethereum layer-2 chain, Base, is now live to the public after months of development and testing by engineers at Coinbase. This new network promises faster transactions with lower fees than traditional blockchain networks like Ethereum itself, making it an attractive option for users looking to send payments quickly and securely without paying hefty fees for doing so.
Federal Reserve Requires Banks To Get Non-Objection From Central Bank Before Engaging With Stablecoins
The Federal Reserve is now requiring state banks to get written “non-objection” from central bank before engaging with any stablecoins as part of their operations. This move comes as regulators across the world are cracking down on cryptocurrencies due to concerns about their potential use in illegal activities such as money laundering or financing terrorism activities. The Fed hopes that this requirement will help ensure that any transactions involving stablecoins are compliant with all applicable laws and regulations before they take place.
Bitstamp Halts US Trading Of Tokens Identified As Securities By SEC In Coinbase And Binance Cases
In light of recent cases brought against Coinbase and Binance by the U.S Securities Exchange Commission (SEC), Bitstamp has decided to halt trading of seven tokens identified by the SEC as securities in those cases within U.S jurisdiction until further notice from authorities on how best to proceed with them legally speaking.. Hut 8 Mining also recently entered into a transaction support agreement with Macquarie Equipment Finance Ltd over energy supplier Validus who faced insolvency after providing energy services previously used by Hut 8 Mining at its North Bay facility in Ontario, Canada