The post Stablecoin Regulation in the U.S. to be Decided by May 26 with GENIUS Act appeared first on Coinpedia Fintech News Senate Majority Leader John Thune has informed Republican lawmakers that a vote on the GENIUS Act, a crucial piece of legislation aimed at regulating stablecoins, is expected before the May 26 Memorial Day break. The bill introduced by Senator Bill Hagerty in February and passed by the Senate Banking Committee in March, seeks to regulate the issuance of stablecoins in the United States . Under the GENIUS (Guiding and Establishing National Innovation for US Stablecoins) Act, stablecoin issuers would be required to be licensed entities, known as “permitted payment stablecoin issuers.” What Does the GENIUS Act Mean? The GENIUS Act is designed to bring much-needed clarity and structure to the growing stablecoin market. Complementing the GENIUS Act, the STABLE Act has been introduced in the Republican-controlled House. Together, the two bills aim to set clear regulatory guidelines for the issuance of dollar-pegged stablecoins—cryptocurrencies intended to maintain a stable value by being backed by real-world assets. Currently, stablecoins are a popular digital dollar used for fast, low-cost payments. However, the absence of clear regulations has led to concerns around safety and trust. The GENIUS Act addresses these concerns by mandating that stablecoin issuers hold full reserves, comply with anti-money-laundering regulations, and undergo regular audits. The act also makes clear that stablecoins are not classified as securities or commodities, resolving a key area of confusion. With these measures in place, the GENIUS Act aims to foster safer growth for stablecoins, positioning them as potential competitors to traditional payment systems in the future. Broader Regulatory Context The GENIUS Act is part of a broader push for stablecoin regulation. In January, President Donald Trump signed an executive order forming a working group to explore stablecoin regulations and the possibility of creating a national crypto stockpile. However, while executive orders signal intent, they lack the legal weight of Congressional approval. The timing of Trump’s order has raised some concerns, particularly after World Liberty Financial—a crypto firm backed by his family—launched the USD1 stablecoin. Critics, mainly from the Democratic camp, argue that Trump’s influence, combined with his financial ties to the firm, creates a significant conflict of interest as Congress debates this critical piece of crypto legislation. As the Senate prepares to vote on the GENIUS Act, the future of stablecoin regulation in the U.S. hangs in the balance.
In a bold declaration, Trump’s advisor Bo Hines emphasizes the US strategy to claim its position as the leading global “Bitcoin superpower” through aggressive Bitcoin accumulation. The anticipated Strategic Bitcoin
El Salvador continues to stack Bitcoin despite a high-stakes $1.4 billion IMF deal , the nation’s economy minister, Maria Luisa Hayem, confirmed. Speaking to Bloomberg News live at the Rio de Janeiro Web Summit on Tuesday, she added that Bitcoin accumulation remains a government priority. “Bitcoin keeps being an important project,” she noted. “There is an asset accumulation that we’re seeing from the government perspective, from the private sector perspective.” The Salvadoran government reached a deal with the International Monetary Fund (IMF), last December, after four years of negotiations. They agreed on a $1.4 billion loan program to be disbursed over 40 months. The international financial body highlighted the reduced risks from Bitcoin adoption, which had been a major sticking point. After receiving $1.4 billion in funding, the country made a series of pledges, including scaling back its Bitcoin buying spree. El Salvador Breaks IMF Promise, Purchases 7 BTC According to El Salvador’s Bitcoin Office data, the Central American nation has acquired 7 Bitcoin worth more than $650,000 in the 7 days until April 29. However, in a recent press briefing , Rodrigo Valdes, IMF’s director of the Western Hemisphere Department, confirmed that EL Salvador “continues to comply with their commitment of non-accumulation of bitcoin by the overall fiscal sector.” “The program of El Salvador is not about Bitcoin. It’s much more, much deeper in structural reforms, in terms of governance, in terms of transparency,” he said. Further, Bitcoin Office, which oversees the coin accumulation, posted on social media last week that the purchases still continue. EL SALVADOR BUYS MORE BITCOIN El Salvador has just bought 1 BTC for our Strategic Bitcoin Reserve. New SBR total: 6,154.18 This is the way pic.twitter.com/qXswTRfnzq — The Bitcoin Office (@bitcoinofficesv) April 22, 2025 There is a Commitment to Accumulate Assets: Economy Minister Minister Hayem added that the nation is committed to accumulating the assets and that crypto remains a priority. “There’s a commitment of President Bukele to keep accumulating assets as a way to do precisely that,” she added. Additionally, in yet another strategic move, El Salvador’s Ministry of Education has announced a financial literacy program for schoolchildren, which would include Bitcoin education . The curriculum will initially roll out across 50 public schools located in the La Libertad department, an official release noted. The coastal department is recognised as the place of early and active Bitcoin adoption. The post El Salvador Continues Bitcoin Accumulation Despite IMF Loan Agreement: Economy Minister appeared first on Cryptonews .
Payments giant PayPal has successfully navigated regulatory scrutiny as the SEC closes its investigation into the PayPal USD stablecoin. This development marks a significant milestone for PayPal, indicating regulatory clarity
BNB price is consolidating above the $595 support zone. The price is now consolidating near $600 and might aim for more gains in the near term. BNB price is attempting to recover from the $600 support zone. The price is now trading near $602 and the 100-hourly simple moving average. There is a key rising channel forming with support near $600 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $598 level to start another increase in the near term. BNB Price Holds Key Support After forming a base above the $592 level, BNB price started a fresh increase. There was a move above the $595 and $600 resistance levels, like Ethereum and Bitcoin . The bulls even pushed the price above the $605 level. A high was formed at $611 before there was a minor downside correction. The price retested the $600 support zone. A low was formed at $598 and the price climbed above the 23.6% Fib retracement level of the recent decline from the $611 swing high to the $598 low. The price is now trading near $602 and the 100-hourly simple moving average. There is also a key rising channel forming with support near $600 on the hourly chart of the BNB/USD pair. On the upside, the price could face resistance near the $606 level and the 61.8% Fib retracement level of the recent decline from the $611 swing high to the $598 low. The next resistance sits near the $610 level. A clear move above the $610 zone could send the price higher. In the stated case, BNB price could test $620. A close above the $620 resistance might set the pace for a larger move toward the $635 resistance. Any more gains might call for a test of the $650 level in the near term. Another Decline? If BNB fails to clear the $610 resistance, it could start another decline. Initial support on the downside is near the $600 level. The next major support is near the $598 level. The main support sits at $592. If there is a downside break below the $592 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $580 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $600 and $598. Major Resistance Levels – $606 and $610.
PayPal says the US Securities and Exchange Commission has abandoned its investigation into the payment giant’s US-dollar stablecoin. PayPal said in an April 29 regulatory filing that the SEC concluded its investigation into PayPal USD (PYUSD) and wouldn’t be taking any action. The company said it received a subpoena from the SEC’s Division of Enforcement over its stablecoin in November 2023. “The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request,” PayPal stated at the time. In its latest filing, the firm said the SEC notified it in February that the agency “was closing this inquiry without enforcement action.” PayPal has said its stablecoin is 100% redeemable for US dollars and “fully backed” by dollar deposits, including short-term treasuries and cash equivalents. However, the stablecoin has struggled to gain momentum in a crowded market dominated by rivals Tether and Circle. PYUSD has a market capitalization of just $880 million, less than 1% of Tether’s ( USDT ) $148.5 billion. PayPal’s stablecoin has seen better growth this year with a 75% increase in PYUSD circulating supply since the beginning of 2025, according to CoinGecko. It remains down 14% from its peak supply of just over $1 billion in August 2024. PayPal USD market capitalization. Source: CoinGecko Earnings on PYUSD, Coinbase partnership That growth could be bolstered by a company announcement on April 23 introducing rewards for PYUSD in a new loyalty offering that will enable US users to earn 3.7% annually for holding the asset on the platform. Meanwhile, on April 24, PayPal announced a partnership with Coinbase to increase the adoption of PYUSD. “We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center,” said Alex Chriss, PayPal President and CEO. Related: PayPal to offer 3.7% yield on stablecoin balances: Report The payments giant also reported robust first-quarter earnings and the completion of significant share repurchase activities. The firm beat Wall Street estimates, earning $1.33 per share in the first quarter, topping analyst expectations of $1.16. Revenue rose 1% from a year before to $7.8 billion. Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest
The Trump Organization will begin accepting cryptocurrency payments for property sales at its $1 billion luxury tower in Dubai, deepening its expansion into digital assets and the Gulf region’s high-end real estate market. In an interview with The National , Eric Trump, son of President Donald Trump, touted Dubai as a leading global investment destination. “It’s become a safe haven for so many people,” he said, highlighting the city’s appeal to investors from Europe, Asia, and Africa. “Dubai has really become the epicentre.” Trump Expands Dubai Footprint with New Luxury Tower The Trump International Hotel and Tower in Dubai, unveiled earlier this year, is the latest in the family’s partnership with UAE-based Damac Properties. The project will feature a branded hotel, luxury residences, a private clubhouse, and what is being billed as the world’s tallest swimming pool. Completion is expected within five years. Apartments in the tower will start at around $1 million, with three- and four-bedroom units available. Two penthouses are expected to sell for $20.4 million each. While pricing reflects the ultra-luxury nature of the development, the crypto-friendly payment option positions the project to attract digital asset holders. The @trump team, in collaboration with @dar_global proudly introduce — Trump International Hotel & Tower, Dubai. Rising 80 stories above Sheikh Zayed Road, this landmark blends world-class hospitality, ultra-luxury residences, and The Trump, an exclusive members-only club.… pic.twitter.com/9xUMirvZ72 — The Trump Organization (@Trump) April 29, 2025 Dubai has increasingly branded itself as a crypto hub, courting crypto firms and investors alike. However, its property market has also drawn scrutiny. Investigations, including a major 2023 leak of property records, have raised concerns about the city’s role in facilitating money laundering and hosting illicit capital from sanctioned individuals and criminal networks. The Organized Crime and Corruption Reporting Project (OCCRP) has linked Dubai real estate to money laundering, drug trafficking, and organized crime operations. The Dubai tower is the latest chapter in the Trump family’s growing involvement in crypto. What began with a line of Trump-branded NFTs has evolved into a sprawling portfolio that now includes meme coins, stablecoins, DeFi ventures, and partnerships with crypto firms. The Trump Media & Technology Group has also floated the idea of integrating digital wallets into its Truth Social platform. Eric Trump has recently stepped up his crypto presence, accepting an advisory role at Japanese firm Metaplanet and appearing at industry events like Token2049 in Dubai, where he’s scheduled to speak alongside entrepreneur Justin Sun later this week. Trump’s Truth+ Considers Adding Crypto Wallet and Token As reported, Trump Media & Technology Group (TMTG), the media company behind Truth Social, is weighing the launch of a utility token and a digital wallet as part of an expansion of its streaming platform, Truth+. The potential move was revealed in a letter sent to shareholders by CEO and chairman Devin Nunes on Tuesday, ahead of the company’s annual shareholder meeting. According to Nunes, the proposed utility token would be part of a rewards program and could initially be used to pay for subscriptions to Truth+. He added that over time, the token may be used across additional services within the broader Truth ecosystem. The post Trump’s $1B Dubai Tower to Accept Crypto for Property Sales in New Gulf Push appeared first on Cryptonews .
“Ethereum just scored a monster win,” said former Ethereum developer Eric Connor on X on April 30. His comment came in reaction to an April 28 prospectus filing with the US Securities and Exchange Commission by BlackRock, which aims to tokenize its $150 billion Treasury Trust market fund with a new “DLT Shares” asset class. It is the “biggest real-world asset flow to Ethereum yet,” said Connor. Ethereum just scored a monster win. BlackRock filed to tokenize its $150bn Treasury Trust money-market fund with a new “DLT Shares” class. BNY Mellon will keep a blockchain mirror of every share on-chain. Biggest real-world asset flow to Ethereum yet. — Eric Conner (@econoar) April 30, 2025 Ethereum Industry Standard for RWA The BlackRock Treasury Trust Fund is a money market fund that invests only in short-term US Treasury securities to provide income while preserving liquidity and principal. It keeps fees low and is designed for very low-risk, stable returns. The new tokenized DLT shares of its $150 billion Treasury Trust Fund will use blockchain technology to track ownership via BNY Mellon. BlackRock previously launched the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on the Ethereum blockchain, in partnership with Securitize. It allows qualified investors to earn yields through tokenized US Treasury securities on Ethereum . Onchain Foundation head of research Leon Waidmann reported that 93% of BlackRock’s BUIDL is on Ethereum. The fund currently has $2.34 billion in assets under management on Ethereum, according to rwa.xyz. “Institutions follow deep liquidity, credible neutrality, and battle-tested security,” he said before adding, “ETH is already their settlement layer.” “BlackRock is building on Ethereum. They’re betting on ETH as the leading ecosystem,” said researcher “CryptoGoos,” who added that Ethereum is “extremely undervalued.” BlackRock is building on Ethereum. They’re betting on $ETH as the leading eco-system. Don’t get fooled now. Ethereum is extremely undervalued. pic.twitter.com/dubhrzqxk4 — CryptoGoos (@crypto_goos) April 29, 2025 The firm does appear to be going all-in on tokenization. “Tokenization will revolutionize investing,” BlackRock CEO Larry Fink said in March. “Markets wouldn’t need to close. Transactions that currently take days would clear in seconds. And billions of dollars currently immobilized by settlement delays could be reinvested immediately back into the economy, generating more growth,” he added. Ethereum is currently the industry standard for real-world asset (RWA) tokenization with a 56% market dominance and $6.2 billion tokenized on-chain (excluding stablecoins), according to rwa.xyz. No Love For ETH Prices ETH prices remain at bear market lows despite the bullish fundamentals . The asset has struggled to make any progress above $1,800 over the past week and is still lingering around levels last seen in September 2023. ETH is still 63% down from its 2021 peak price and has declined almost 50% since the beginning of the year, but analysts and advocates still think it will reach five figures soon. Nevertheless, institutions appear to be warming to cut-price Ether as BlackRock’s spot ETH ETF (ETHA) has scooped up $162 million worth of the asset over the past four trading days. The post Big Win For Ethereum as BlackRock Tokenizes $150B Treasury Fund appeared first on CryptoPotato .
FTX’s recent legal actions highlight its ongoing struggle to reclaim lost assets following its collapse, with significant implications for the broader cryptocurrency market. In a bold move, FTX is pursuing
Bitcoin (BTC) continues to display resilience with slow, steady price gains, as recent accumulation metrics suggest confidence in the current market rally. Recent trends indicate that despite a volatile market,