Big Breaking News🚨 🔴Read 👇🏻 Attention Attention Jerome Powell, the chair of the Federal Reserve, has expressed his strong support for quick regulation of stablecoins and asked Congress to enact legislation before the end of the year. His statements at a recent congressional session highlight how important it is to have regulations in place to guarantee the security and stability of stablecoin transactions in the US. Federal Reserve's Commitment: Powell stressed that the Fed is willing to work with Congress to develop stablecoin rules. He emphasized the need for stablecoins to have a strong legal foundation and reaffirmed the Federal Reserve's commitment to seeing this through. Act to Create Lummis-Gillibrand Payment Stablecoin: This bipartisan bill, put forth by Senators Cynthia Lummis and Kirsten Gillibrand, attempts to control payment stablecoins that are correlated with the US dollar. The goal of the law is to safeguard consumers and promote innovation without undermining the dollar's hegemony. The law defines a "payment stablecoin" as any cryptocurrency asset intended to be used as a means of exchange or payment that may be redeemed for a specific quantity of US dollars or that maintains a steady value equal to the dollar. Stablecoins linked to non-US currencies or other assets are not covered by the measure. In favor and against: Reactions to the proposed regulation have been conflicting. The measure has drawn praise and criticism from different quarters. Proponents of the bill include Coin Center, an advocacy group. They contend that the prohibition on algorithmic stablecoins would stifle creativity and give rise to issues pertaining to the First Amendment. Next Actions: Several financial regulators and legislators will collaborate during the legislative process to establish a balanced regulatory framework that encourages innovation while maintaining financial stability. For further information and updates, follow. Encourage and Spread the Word. I'm grateful. $INJ $NEAR $FTM ☀#BTC ☀
The USDe stablecoin from Ethena Labs has a circulation of more than 3.5 billion. $ETH BlockBeats reports that, as of June 22, Etherscan data indicates that USDe, the stablecoin developed by Ethena Labs, has more over 3.5 billion units in circulation. Based on Ethereum, USDe is a stablecoin supported by derivatives that uses "delta neutral" hedging in both centralized and decentralized venues to keep prices stable. Users can utilize ETH, US dollars, or liquidity pledge tokens as collateral to establish USDe on Ethena. The purpose of the stablecoin is to give consumers in the erratic cryptocurrency market a safe and reliable digital currency alternative. The substantial circulation suggests that stablecoins are becoming more and more popular in the virtual currency market. Notably, stablecoins such as USDe are being used more and more frequently since they provide a means of reducing the risk brought on by the volatility of other cryptocurrencies' prices. The USDe is a dependable option for consumers seeking stability in the digital currency market because of the backing of derivatives, which further increases its stability. #ETH🔥🔥🔥🔥 #CryptoTradingGuide #usd #BTC☀
$BTC *BREAKING: The market goes crazy after the German government dumps $325 million in bitcoin!*
*BITCOIN ALERT:* Value Drops 3.5% as German Authorities Sell Off 50,000 BTC Taken From Haunted Pirate Website! *CRYPTO SHOCKWAVES:* The Strategic Sale by the German Government Shocks the Market; What Comes Next?CURRENT TRENDS:* #cryptocurrency #marketalert #sellalert #bitcoin *GET THE LATEST:* Keep yourself informed on the latest advancements in the bitcoin field! *WHAT IS GOING ON:* Bitcoin's value has plummeted after the German government sold an astounding $325 million worth of the cryptocurrency. Not only that, but this sale is only the start of a bigger scheme to sell off 50,000 BTC that were taken from a well-known pirate website back in 2020. People, fasten your seatbelts!