Regulation

Ripple is heading to Washington. This Wednesday, the company’s CEO Brad Garlinghouse will testify before the U.S. Senate Banking Committee, advocating for swift approval of legislation that defines the structure of the cryptocurrency market.

The hearing will focus on a key issue: whether digital assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). This distinction is crucial not only for Ripple but for the entire crypto industry, which has struggled for years with regulatory uncertainty.
Garlinghouse announced his participation via the X platform, expressing gratitude for the opportunity “to advocate for necessary legislation” before lawmakers. The hearing will be chaired by Republican Senator Tim Scott, with participation from Senators Cynthia Lummis and Ruben Gallego.

From Wall Street to Web3: A New Vision for Crypto
The hearing is aptly titled “From Wall Street to Web3: Building the Markets of Tomorrow.” In addition to Garlinghouse, testimony will be given by other industry leaders, including Blockchain Association's Summer Mersinger and Chainalysis CEO Jonathan Levin.
Their shared goal is to highlight how the current fragmented regulatory environment is stifling innovation, hindering growth, and weakening the United States’ leadership in digital assets.
“The U.S. needs a modern and consistent framework that supports innovation, protects consumers, and strengthens our global position,” said Garlinghouse.

Pressure on Congress Mounts – XRP in the Spotlight
Among XRP holders, there’s growing anticipation that the hearing might finally resolve a longstanding issue: how XRP should be classified and who should regulate it. Ripple has engaged with regulators repeatedly, but no clear answer has emerged—causing instability in both adoption and price.
The hearing will also address key legislation proposals: the GENIUS Act and the CLARITY Act, both of which aim to provide clearer definitions of digital assets and divide oversight between the SEC and CFTC.

Technical Insight, Stablecoins, and Market Structure
Beyond legal questions, the hearing will include a technical perspective—provided by researcher Dan Robinson, who will explain how regulation directly impacts blockchain development.
Both the GENIUS and CLARITY Acts have passed through several committees and reached the House of Representatives. Their approval would mark a major step forward not just for Ripple, but for the broader U.S. crypto market.

#Ripple , #BradGarlinghouse , #crypto , #Regulation , #CryptoNewss

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Hong Kong is making bold moves to become Asia’s top hub for regulated digital finance, and its new stablecoin licensing regime could be a major leap forward. Authorities have announced that by the end of 2025, they will begin issuing official licenses for fiat-backed stablecoin issuers. But don’t expect a flood — according to Financial Secretary Christopher Hui, the number of licenses will likely stay in the single digits.

📌 Focused on Fiat-Backed Stablecoins & Cheaper Global Payments
The new licensing framework is expected to launch in August 2025, with a focus on stablecoins pegged to fiat currencies. The goal is to improve cross-border payment efficiency — especially in regions with volatile local currencies or outdated financial infrastructure.
Hui emphasized that fiat-backed stablecoins could reduce transaction costs and make capital flows more seamless across Asia. At the same time, he stressed the importance of robust regulation, especially for tokens tied to foreign currencies.

🥇 The Race Heats Up: Hong Kong vs. Beijing vs. the World
While Hong Kong’s licensing initially focused on HKD-linked stablecoins, there’s growing interest in yuan-based tokens. Tech giants like JD.com and Ant Group are reportedly lobbying Chinese regulators to approve such offerings — a sign of intensifying regional competition for stablecoin dominance.
Hui noted that any foreign currency-based stablecoin would require close coordination with international regulators, given the potential exchange rate and systemic risks.

🌐 Global Trend: Regulation Is Coming from All Directions
Hong Kong isn’t alone. In the U.S., the groundbreaking GENIUS Act — a federal stablecoin bill — has cleared the Senate and awaits House approval, with strong backing from President Donald Trump, who’s urging rapid passage.
Meanwhile, China’s central bank governor Pan Gongsheng acknowledged that stablecoins and CBDCs are increasingly shaping global payment ecosystems.
While mainland China maintains strict bans on crypto trading and mining, Hong Kong is positioning itself as a “crypto freedom zone.” The city’s Monetary Authority (HKMA) launched a stablecoin sandbox last year, attracting big names like Standard Chartered, Animoca Brands, HKT, JD Coinlink, and RD InnoTech.

⚖️ Hong Kong Sets a Global Standard: Full Reserves & Strict Oversight
The newly passed stablecoin legislation requires issuers to:
🔹 Hold full asset reserves

🔹 Separate client and corporate funds

🔹 Operate under direct HKMA supervision
The goal? To build trust and minimize financial risks in the growing digital asset economy.
According to YeFeng Gong, Head of Risk & Strategy at licensed crypto firm HashKey, this policy sets a global benchmark. “It brings institutional-grade safeguards that have long been missing in the stablecoin space. Hong Kong is becoming a model for the world,” he said.

🔍 One-Minute Recap:
🔹 Hong Kong will issue its first official stablecoin licenses by year-end

🔹 Focus on fiat-backed tokens and global payment improvements

🔹 City aims to lead Asia’s regulated digital finance space

🔹 New law mandates full reserves, segregation of funds, and HKMA oversight

🔹 Stablecoins are becoming central to the future of finance

#Stablecoins , #crypto , #CryptoNews , #Regulation , #CBDC

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Crypto regulations are coming to the US House of Representatives in two weeks. The goal is to finally provide legal clarity for digital assets and blockchain-based payments in the United States.
Congressman Says Key Crypto Regulations Will Clarify Digital Assets and Stablecoin Oversight
While speaking during a recent Fox News interview, shared on X, Congressman French Hill announced that two major bills on crypto regulations will be introduced. The first bill is the Clarity Act. It outlines how investors, brokers, and entrepreneurs can legally operate in the crypto space.
According to Hill, who chairs a key committee on financial services, many people are unsure of what is allowed. Currently, there are no clear rules on using blockchain for payments or building crypto-based businesses.
The Clarity Act is designed to define the structure for digital asset markets. It will also help protect people from accidental violations of US law. Hill emphasized that these crypto regulations will reduce confusion and offer a path forward for legitimate innovation.
The second bill ( the GENIUS Act) aims to regulate dollar-backed payment tokens. In addition, these tokens, which are central to crypto finance, lack federal oversight. The new crypto regulations will lay out how stablecoins should be issued, managed, and supervised.
Hill Says New Bills Key to Keeping Crypto Innovation in the US
The congressman believes this step is necessary to preserve America’s strength in global finance. With finance shifting toward blockchain-based models, effective crypto regulations can help the U.S. lead the digital transition.
He also highlighted that today’s crypto environment is stuck in a grey zone. Companies don’t know what counts as a security or which agency to report to. Users also face uncertainty about taxes and risks. That’s why comprehensive crypto regulations are essential.
Hill’s committee has worked on these bills for months, aiming to fix these issues. He says the timing is right to push the new crypto regulations forward, as demand for clear rules continues to grow.
Crypto developers and investors have long called for legislative action. Hill believes that these crypto regulations will prevent projects from moving overseas. Also, they could form the foundation for US crypto policy for years to come.
Meanwhile, the US house will discuss these two bills in addition to the Anti-CBDC Surveillance State Act. This follows the announcement of a crypto week that will begin on July 14 and end on July 18.

#crypto #Regulation #cryptouniverseofficial #CryptocurrencyWealth #CryptoNewss

The cryptocurrency Toncoin (TON) found itself at the center of controversy after the United Arab Emirates officially denied claims that staking the token qualifies investors for the prestigious golden visa program. The fallout? A sharp 6% drop in TON’s price following a short-lived surge.

🎯 The Announcement That Sparked a Storm
Over the weekend, The Open Network (TON) announced that users who stake $100,000 worth of TON for three years would become eligible for a 10-year UAE golden visa, with an additional $35,000 processing fee.
Markets reacted swiftly — TON jumped 10%, reaching $3.03. But once UAE authorities denied the claims, the token fell back to $2.84 — a 6% loss within 24 hours.

🚨 UAE Authorities Warn Against Misinformation
Key Emirati agencies — including the Federal Authority for Identity and Citizenship, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority (VARA) — issued statements clarifying that holding cryptocurrencies does not entitle anyone to a golden visa.
They emphasized that crypto investments fall under separate regulatory frameworks and have no bearing on immigration or residency rights. Officials urged investors to rely strictly on official sources to avoid falling victim to misleading claims or scams.

🤔 Crypto Community Voices Skepticism
The crypto space reacted with caution. CZ (Changpeng Zhao), founder of Binance, warned that many suspect TON's real intent was to charge a $35,000 fee for visa application forwarding, while similar services typically cost around $1,000.
CZ also criticized the vague language used in the announcement and stated he couldn't confirm any legitimate government approval for the scheme — despite some users claiming that the RAK DAO (Ras Al Khaimah) might be involved.

🧩 Durov’s Post Adds Fuel, Musk Comparison Resurfaces
Telegram founder Pavel Durov further stirred the conversation by reposting a tweet from influencer Ashe Crypto, promoting the TON visa claim. While Durov did not officially endorse the announcement, his share gave the impression that the offer was legitimate.
Skeptical users recalled a previous case when Durov hinted at a partnership with Elon Musk’s X, which Musk himself later publicly denied. Concerns are now growing that this could again lead to financial losses for hopeful investors.

🏙 How UAE Golden Visas Actually Work
The UAE’s Golden Visa program was launched in 2019 to attract top global talent and investors. Criteria include:
🔹 Real estate investments of at least 2 million AED

🔹 Business investors or taxpayers contributing 250,000 AED/year or more

🔹 Qualified professionals earning 30,000 AED/month or more

🔹 Scientists, creatives, retirees, and high-achieving students
Cryptocurrencies are currently not among the official criteria for golden visa eligibility.

🔍 Key Takeaways:
🔹 TON price dropped after UAE denied visa partnership

🔹 Authorities urge caution and stress using official sources

🔹 Crypto holdings don’t guarantee UAE residency

🔹 Durov’s involvement raises concerns

🔹 Misinformation could lead to financial harm

#TON , #Toncoin , #crypto , #Regulation , #CryptoNews

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Thousands of FTX users hoping for reimbursement now find themselves in a legal gray area. FTX Recovery Trust has announced the suspension of payouts to creditors in 49 jurisdictions where cryptocurrency activity is restricted or outright banned.
According to a court filing dated July 2, affected countries include China, Nigeria, Fiji, Andorra, and Zimbabwe. While only 5% of approved claims come from these regions, a staggering 82% of the frozen funds originate from China alone.

🔒 “Hold and Review” – FTX Plays It Safe
The company has implemented a "Hold and Review" process that automatically marks claims from these countries as "disputed." Payouts will only be released if legal counsel confirms they don’t violate local laws. Affected creditors will receive a “Restricted Jurisdiction Notice” explaining the reasons for the block and giving them at least 45 days to file an objection.
However, the move has sparked criticism – particularly from users who have since moved to crypto-friendly countries yet remain unable to access their claims.

⚔️ Legal Pushback: Chinese Creditors Prepare to Fight
A Chinese creditor using the handle Will的折腾纪 (@zhetengji) revealed he is launching legal action against FTX. He argues that the freeze is unjustified, as Chinese law does not prohibit holding crypto or USD assets abroad. Since FTX pays out claims in U.S. dollars, he questions why bank transfers are not allowed. He urges other affected users to join him in challenging the decision.

📉 Disputed Claims Shrink – But Billions Still Frozen
FTX also provided a positive update: the total value of disputed claims has dropped from $6.5 billion to $4.6 billion. About $1.8 billion in previously disputed claims have been approved, with another $2.7 billion expected to be greenlit soon.
Still, the uncertainty remains: until legal clarity is reached in all affected jurisdictions, billions of dollars will remain in limbo – leaving thousands of creditors waiting.

#FTX , #crypto , #Regulation , #CryptoCommunity , #CryptoNews

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JPMorgan has surprised the crypto community with a new projection that significantly lowers expectations for stablecoin growth. According to the bank, the stablecoin market will only reach $500 billion by 2028 — a stark contrast to previous forecasts like Standard Chartered’s $2 trillion projection.

🔹 Limited Real-World Use of Stablecoins

JPMorgan’s research reveals that just 6% of stablecoin usage is related to real-world payments. The majority — about 88% — is tied to trading, DeFi activities, and crypto treasury functions. This indicates stablecoins have yet to become widely adopted in everyday financial transactions.

🔹 GENIUS Act Could Shift the Landscape

There are, however, signs of change. The recently passed GENIUS Act in the U.S. Senate could offer much-needed regulatory clarity, potentially attracting new investors and encouraging broader adoption.

🔹 Stablecoins Face Growing Competition from CBDCs

Stablecoin adoption is facing headwinds as governments push forward with their own digital currencies (CBDCs). China is aggressively promoting the digital yuan globally, while the ECB and Israel are advancing their digital euro and digital shekel initiatives. Meanwhile, Russia plans to mandate digital ruble payments for larger firms by 2027.

🔹 Room for Growth Exists, But Hurdles Remain

JPMorgan highlights that lower yields, costly fiat conversions, and a lack of consumer-facing benefits continue to limit stablecoins’ mainstream appeal. These barriers must be overcome for the market to realize its full potential.
Despite the conservative forecast, many in the industry remain hopeful that regulation and financial innovation could reshape the future of digital assets.

#Stablecoins , #JPMorgan , #crypto , #Regulation , #CryptoNews

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“