Stablecoin Shake-Up & Solana Surge: Crypto's New Era

Key Insides:

U.S. Senate Advances Stablecoin Regulation: The Senate has moved forward with legislation to regulate stablecoins, marking a significant step towards federal oversight of the $250B market. The bill includes restrictions on tech giants like Meta and Google from issuing their own stablecoins.

Solana (SOL) Surges Amid DeFi Activity: Solana's price has increased by 6%, reaching approximately $180, driven by a bullish reversal and heightened decentralized finance (DeFi) activity.

Quick Bytes:

UK's HMRC Targets Crypto Tax Compliance: Starting January 1, 2026, the UK's tax authority will require crypto users to provide personal data, including name, address, and tax ID, to enhance tax compliance. Non-compliant platforms may face fines up to £300 per user.

Ethereum's Vitalik Buterin Proposes Lightweight Nodes: Ethereum co-founder Vitalik Buterin has proposed a design to make running nodes easier by allowing users to operate lightweight nodes without storing the entire blockchain, potentially reducing costs for node operators.

Minnesota Cities Crack Down on Crypto ATMs: Several cities in Minnesota, including Stillwater and St. Paul, are moving to regulate or ban cryptocurrency ATMs due to a surge in fraud cases linked to their use, particularly affecting seniors.

Kraken Launches Regulated Crypto Derivatives in Europe: Kraken has begun offering derivatives trading in digital assets, compliant with Europe's Markets in Financial Instruments Directive (MiFID II), expanding its services in the European market.

Ripple Expands Cross-Border Payments to UAE: Ripple has launched blockchain-based cross-border payments in the United Arab Emirates through partnerships with Zand Bank and Mamo, aiming to boost crypto adoption in the region.

*Stay tuned for more updates as the crypto landscape continues to evolve.

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