• Rep. Maxine Waters criticized PayPal’s stablecoin and demanded regulation on par with financial institutions.
• Jury trial in SEC v. Ripple Labs is to be set for Q2 2024, and Coinbase’s Ethereum layer-2 chain Base is live to the public.
• Bitstamp will halt U.S. trading of seven tokens identified as securities by SEC in Coinbase, Binance cases; while Binance Labs has invested $5M in Curve DAO Token after its $60M July hack.
Rep Maxine Waters Criticizes PayPal’s Stablecoin
Congresswoman Maxine Waters called for stronger regulations on PayPal’s stablecoin, demanding that it be held to the same standards as traditional financial institutions.
SEC v Ripple Labs Jury Trial Set for Q2 2024
The Securities and Exchange Commission (SEC) announced that a jury trial concerning their lawsuit against Ripple Labs will take place in the second quarter of 2024.
Coinbase Launches Ethereum Layer-2 Chain Base
Coinbase has launched its Ethereum layer-2 scaling solution, Base, to the public. This allows users to achieve faster transaction speeds without sacrificing security or decentralization.
Federal Reserve Requires Banks To Get Non-Objection From Central Bank For Stablecoins
The Federal Reserve will require state banks to obtain written permission from its central bank before engaging with stablecoins such as Bitcoin and Ethereum. This is intended to ensure compliance with existing laws and regulations surrounding cryptocurrencies and digital assets.
Bitstamp Halts US Trading of Seven Tokens Identified As Securities by SEC
Bitstamp has announced that it will stop offering trading services for seven tokens deemed securities by the SEC in recent lawsuits involving Coinbase and Binance exchanges respectively .