Global #crypto industry

A key goal for the crypto industry—shielding software developers from legal liability for the misuse of their technology—is reportedly at risk in new U.S. Senate negotiations.

The recently passed GENIUS Act is at the heart of a major dispute between traditional banking and the crypto sector. Banking groups, led by the American Bankers Association, are warning that a flaw in the new law could allow crypto exchanges to offer yield on stablecoins such as USDC and USDT.

Bank of America CEO Brian Moynihan has confirmed the bank's interest in entering the stablecoin market, but only once the U.S. establishes clear regulations.

In a significant policy shift, the U.S. Securities and Exchange Commission (SEC) has launched "Project Crypto," a new initiative aimed at modernizing its approach to digital assets.

Michael Saylor of Strategy has joined a growing chorus of voices calling for the U.S. to establish a clear crypto taxonomy.

After years of regulatory uncertainty, the United States is taking concrete steps to establish a legal framework for the crypto industry.