The total market capitalization of the stablecoin sector has now been dropping for 16 consecutive months, to hit its lowest level since August 2021, according to CCData’s latest Stablecoins & CBDCs report.
Senior House Republicans have introduced an extensive bill aimed at bringing substantial changes to the cryptocurrency landscape in the U.S. The legislation, called "the Financial Innovation and Technology for the 21st Century Act," mandates the creation of clear definitions for "blockchain" and "digital asset" within existing financial law, and for the creation of rules specifically for crypto exchanges.
The U.S. Federal Reserve has recently moved to dispel the notion that its forthcoming FedNow Service, designed to expedite payments between organizations, is tied to central bank digital currencies (CBDCs).
Top stories in the Crypto Roundup today:
- Stablecoin Market Cap Hits Lowest Level in Nearly Two Years
- House Republicans Introduce Crypto Bill to Define and Regulate Digital Assets
- FedNow Instant Payment Service is Not CBDC-Related, Federal Reserve Clarifies
- Crypto Market Movers – BCH, COMP, XLM