Elon Musk's platform, X, is set to launch its financial services by 2025, allowing its 600 million users to manage payments and investments directly within the app. CEO Linda Yaccarino mentioned plans for an X-branded credit or debit card, with beta testing for the X Money app already underway. Musk emphasized the importance of caution during the pilot phase due to the involvement of users' savings. Meanwhile, South Korea's financial regulator is investigating transaction fees at local cryptocurrency exchanges to alleviate trading costs for users. This initiative aligns with President Lee Jae-myung's pro-crypto agenda, aiming to support young traders. The Financial Services Commission (FSC) will survey exchanges to assess their fee structures and determine if they are excessively burdensome compared to international standards. In the U.S., President Donald Trump is urging lawmakers to expedite the GENIUS Act, which regulates stablecoins, hoping to sign it into law before Congress's August recess. The Senate recently passed the bill, which now awaits action in the House. Read more AI-generated news on: https://app.chaingpt.org/news