Fidelity is entering the stablecoin reserve game with FYMXX, a money market fund built to hold Treasuries and other liquid assets as U.S. regulators edge closer to clearer rules. It’s a quiet power move with big implications for crypto’s dollar plumbing.
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The CLARITY Act’s Senate vote is slipping, with ethics and conflict rules now the main bottleneck. Supporters say it could finally give U.S. crypto clearer SEC/CFTC rules and unlock capital — but if Congress drags its feet, reform could get shoved years down the road.
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U.S. regulators are moving to force stablecoin issuers into bank-style KYC/AML rules under the GENIUS Act, tightening oversight on direct accounts while mostly leaving secondary transfers alone. It’s a big step toward legit adoption — and a bigger hit to crypto’s privacy-first crowd.
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A bipartisan group of U.S. senators is pressing Treasury Secretary Scott Bessent to keep state regulators meaningfully involved as the U.S. writes the rules for stablecoins under the GENIUS Act fight. The fight now is not whether stablecoins get regulated — they will — but whether states get a real lane or just a decorative […]
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A bipartisan group of U.S. senators is pressing the Treasury Department to spell out how states can qualify for stablecoin oversight under the GENIUS Act. Cynthia Lummis leads bipartisan push for clearer Treasury guidance States say the rules are too vague to prove they’re “substantially similar” Certification process, timelines, and procedures are still missing Federal […]
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State Street is launching a stablecoin reserve fund built for the new U.S. rulebook, signaling that traditional finance is moving fast to own the plumbing behind digital dollars. New product: State Street Stablecoin Reserves Money Market Fund Structure: Registered Rule 2a-7 government money market fund Regulatory driver: Designed for GENIUS Act stablecoin reserve requirements Backers: […]
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Hyperliquid Policy Center and Paradigm are warning U.S. regulators not to turn the GENIUS Act’s stablecoin rules into a compliance hammer that smashes DeFi along with the bad actors. Core dispute: AML and sanctions rules for stablecoin issuers Big concern: Don’t hold issuers liable for transactions they can’t control Market risk: Overreach could push liquidity […]
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U.S. stablecoin regulation is moving from theory to enforcement, and issuers are about to find out what “federal oversight” actually means. June 9, 2026 is the public comment deadline for FinCEN and OFAC’s proposed stablecoin rules Permitted payment stablecoin issuers would be treated like financial institutions under the Bank Secrecy Act AML controls, sanctions screening, […]
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President Trump is once again putting his thumb on the scale for crypto, publicly backing a “future-proof” US digital asset market structure as the Senate prepares to battle over the CLARITY Act. Trump backs a crypto market structure bill CLARITY Act would split SEC and CFTC responsibilities GENIUS Act already set federal stablecoin rules Critics […]
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Crypto-linked PACs poured millions into Texas runoff elections, a blunt signal that the industry is no longer content to lobby from the sidelines. It wants seats at the table, friendly lawmakers, and a shot at shaping crypto regulation before Washington writes rules that stick. Millions spent in Texas runoff races Ken Paxton, John Cornyn, Christian […]
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