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A group of US senators led by Senate Banking Committee Chair Tim Scott, a South Carolina Republican, has introduced legislation to modernize the Bank Secrecy Act, the foundation of the country’s Anti-Money Laundering (AML) framework. The Bank Secrecy Act, passed in 1970, obliges banks, credit unions, and other financial institutions to help federal authorities detect and prevent financial crimes, including money laundering, terrorist financing and related illicit activity. The proposed legislation, known as the STREAMLINE Act, would raise the Bank Secrecy Act’s reporting thresholds for the first time since its creation more than 50 years ago.The bill increases the Currency Transaction Report…

Bitcoin may dominate the crypto headlines, but the real growth story of the next five years will be stablecoins, the digital dollars that are modernizing the way money moves around the globe.Yes, the original cryptocurrency is rapidly becoming an ideal non-sovereign global store of value, with a market capitalization of $2.3 trillion, but stablecoins serve a transactional purpose and thus have already vastly surpassed bitcoin in daily transactions. On October 6, bitcoin’s 24-hour volume was $63.8 billion, compared to stablecoins’ $146 billion — more than double the transaction volume.There’s a simple reason for this. Stablecoins aren’t just an investible asset…

Bitcoin’s latest price pullback has done little to dampen the optimism of Binance founder Changpeng “CZ” Zhao, who believes the world’s largest cryptocurrency will eventually overtake gold in total market value. Despite Bitcoin’s recent volatility, CZ’s remarks reignited discussions about how far BTC must climb to rival gold’s dominance in the global financial system. Bitcoin Holds Steady Amid Market Turbulence At the time of writing, Bitcoin was trading near $107,848 after falling 2.9% in the past 24 hours, according to CoinMarketCap. This correction followed a volatile period in which BTC briefly topped $111,000 before retracing. Even as prices fluctuate, Bitcoin…

Max Branzburg said the new card is now open to U.S. users who are members of Coinbase One, offering up to 4% back in bitcoin on every purchase.

Max Branzburg said the new card is now open to U.S. users who are members of Coinbase One, offering up to 4% back in bitcoin on every purchase.

In brief Former RWA Company executive Max Glass filed suit claiming he was wrongfully terminated and pressured into relinquishing his rights as the company pursued stablecoin development opportunities without him. Glass alleges co-executives Gregory DiPrisco and Joseph Quintilian breached fiduciary duties by appropriating a stablecoin product, which later turned into M^0, for their own benefit. M^0, backed by major investors including Bain Capital and Galaxy, helped launch MetaMask’s native stablecoin mUSD in August and has facilitated significant real-world asset integration into DeFi. Max Glass, a former executive at crypto infrastructure and consulting firm RWA Company, has sued the company, claiming…

Ken Griffin, the billionaire founder and CEO of Citadel, disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a digital asset treasury company focused on accumulating Solana.According to a Schedule 13G filing with the US Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing about 4.5% of DeFi Development’s outstanding common stock.Separately, Citadel Advisors LLC and affiliated entities reported ownership of 800,000 DFDV shares, or about 2.7% of the company’s outstanding stock.Source: Marty PartyThe disclosure adds to mounting evidence of growing Wall Street engagement in digital assets. A recent a16z Crypto report highlighted accelerating institutional adoption,…

Deliberations over the crypto market structure bill between industry executives and US lawmakers hit a fever pitch on Wednesday in a tense meeting, following a leaked proposal from Democrats to impose permissioned requirements on the decentralized finance (DeFi) sector.Democratic senators accused industry executives of acting as an extension of the Republican Party after a leaked Democratic proposal mandating know-your-customer and anti-money laundering regulations on DeFi caused a public outcry, according to Eleanor Terrett, who cited sources at Wednesday’s meeting.The lawmakers reportedly warned industry representatives that continued public outcry over the bill, or specific provisions in the proposed legislation, would slow…

Today in crypto, Bitcoin miner debt surged up 500% over a year as miners have raced to meet demand from AI and crypto mining, US Congress is moving to update anti–money laundering rules by raising decades-old reporting thresholds. Hong Kong has also joined Canada, Brazil and Kazakhstan in approving a spot Solana ETF. Bitcoin miner debt surges 500% as miners beef up for the hashrate fightDebt among Bitcoin miners has increased from $2.1 billion to $12.7 billion in just 12 months as they race to meet demands for artificial intelligence and Bitcoin production, according to investment giant VanEck. Without continued…

Senate Democrats called on Steve Witkoff, President Donald Trump’s special envoy to the Middle East, to provide more details about his personal crypto holdings, raising questions about potential conflicts of interest. Led by Sen. Adam Schiff (D—Calif.), eight senators requested that Witkoff explain why his latest ethics disclosure showed ongoing stakes in a Trump-linked cryptocurrency and other crypto-related business entities. “Your failure to divest your ownership in these assets raises serious questions about your compliance with federal ethics laws and, more importantly, ability to serve the American people over your own financial interests,” the senators wrote in the letter. Zach…