Alabama Lawmaker Raises Alarm On GENIUS Act’s Impact On Small Banks
Alabama State Senator Keith Kelley has warned that the GENIUS Act, signed into law on July 18, 2025, could trigger a wave of deposit outflows that would hurt rural community banks. Related Reading: Hong Kong’s HashKey Pushes Into Digital Asset Treasury With $500M Fund Plan According to reports, Kelley set out his concerns in an […]
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Fresh off the heels of Blockfi’s issues with the New Jersey Bureau of Securities, the company is now having problems in the state of Alabama. The director of the Alabama Securities Commission (ASC), Joseph Borg, explained on July 21 that he issued a show cause to the firm. Borg wants Blockfi to explain why the ASC should not copy New Jersey’s cease and desist as Alabama regulators also seem to believe they might be selling unregistered securities. Blockfi has received another order from the Texas State Securities (TSS) Board for the same reason. Alabama....
Filipino lawmaker and representative of the 5th District of Pangasinan Kimi S. Cojuangco, pushes the proposed "E-Peso Act 2014" to be immediately enacted, as the Philippines is lacking an "official medium of exchange or money for the internet," reported The Philippine Star. The representative explained: Under the bill, E-Peso would become a legal tender and a legal payment method within the Philippines, and would be available in all local banks branches. "What exists is a patchwork of methods using traditional credit systems, which act in place of money on the Internet. The E-peso is the....
Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media.
Former Financial Officials Hired by Major Korean Exchanges
A growing number of officials in Seoul are vacating their government posts and moving to the crypto industry, according to Roh Woong-rae, member of the Korean parliament from the ruling Democratic Party. On Sunday, he called for the introduction of stricter rules....
The US Senate is reportedly poised to approve significant legislation regulating stablecoins. This bill, known as the GENIUS Act—an acronym for “Guiding and Establishing National Innovation for US Stablecoins”—marks a pivotal moment for the crypto industry as it seeks to gain legitimacy and instill confidence among consumers. The legislation will soon move to the House […]
Only a small share of cryptocurrency transactions have illicit purposes and the use of digital coins in illegal activities is for the most part a myth, a high-ranking Russian lawmaker has recently stated. Andrey Lugovoy, who is one of the deputies working on new crypto regulations, also said Russia can become a global leader in crypto mining. Russian Developers Working on Software Detecting ‘Dirty’ Cryptocurrency The illegal use of cryptocurrencies is largely a myth, according to Andrey Lugovoy, a member of the working group on crypto regulation at the State Duma, the lower....