Crypto Industry Update: Regulatory Framework for Bank Stablecoins; Bitcoin Sees Land Acquisition Surge
FDIC Proposes Framework for Stablecoins: The FDIC has outlined a proposed framework for banks to issue payment stablecoins under the GENIUS Act, which includes approval requirements for bank subsidiaries and compliance with issuance standards and reserve backing.
American Bitcoin Surpasses ProCap: American Bitcoin has become one of the top corporate Bitcoin holders, surpassing ProCap Financial with over 5,000 BTC, highlighting the competitive landscape among companies accumulating Bitcoin.
Anchorage Digital Expands Services: Anchorage Digital has acquired Securitize’s investment adviser platform to enhance its institutional offerings, aiming to integrate custody services with advisory tools for registered investment advisers.
Bhutan to Use Bitcoin for Economic Development: Bhutan plans to utilize a portion of its Bitcoin reserves to finance the Gelephu Mindfulness City project, focusing on sustainable economic growth while ensuring long-term capital preservation.
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