Stablecoin legislation advances with bipartisan support, Ripple discloses SEC's petition to overturn injunction in ongoing court battle: Summary of crypto-related news from U.Today
Hey there! Get ready to dive into the latest crypto scoop with U.Today. Here's what's hot in the crypto world:
Major Stablecoin Bill Could Get a Green Light Soon
It looks like we've got some crypto regulation brewing! In what seems to be a monumental movement, some lawmakers from both sides of the aisle have reportedly struck a deal on the GENIUS Act. This bill plans to establish a clear regulatory framework for stablecoins, which are currently in a confusing legal limbo. Up until now, the bill's exact content has been kept hush-hush. Senate Democrats are currently taking extra time to brief their fellows, while the Republicans are eager to have the Senate vote on this as soon as this week, catching the momentum while it's hot.
A quick refresher: Last year, some pro-crypto Democratic senators rejected the bill, with Senator Warren harshly criticizing it. However, these days it looks like we might finally be on the verge of some progress. As previously reported by U.Today, Senate Majority Leader John Thune aims to hold a vote before Memorial Day, May 26.
Ripple reveals SEC's Request to Vacate Injunction
In an exciting development, Ripple has shared some intriguing details regarding their ongoing case with the SEC! Bill Morgan, a pro-crypto lawyer, pointed to Ripple's reference to the SEC lawsuit within their "Q1 2025 XRP Markets Report." The report states that, following Ripple's decision to withdraw their appeal, the SEC reduced their proposed penalty from $125 million to $50 million and agreed to request the court vacate the injunction – all pending SEC commission approval. This move strongly suggests that the facts and the law have consistently been on Ripple's side.
SHIB Team Warns Against Misleading Info
Ragnar, one of Shiba Inu's social media admins, recently took to Twitter to warn the community about misleading posts regarding his contributions to the SHIB ecosystem. He clarified that he remains an admin of the official SHIB Telegram group and is actively assisting with CEX listings and helping apps integrate SHIB. Additionally, another SHIB team member named Lucie reminded the community about the importance of doing your own research, given the challenges that come with holding crypto and dealing with the volatile prices.
Stay tuned to U.Today for the latest news, insights, and analysis on the ever-evolving world of crypto!
- The GENIUS Act, which aims to establish a clear regulatory framework for stablecoins, looks set to gain approval soon, marking a significant step forward in crypto regulation.
- Ripple has revealed that the SEC has requested to vacate an injunction, following Ripple's decision to withdraw their appeal and a reduction in the proposed penalty from $125 million to $50 million.
- Shiba Inu's social media admin Ragnar has warned the community about misleading posts regarding his contributions to the SHIB ecosystem, emphasizing his role in helping with CEX listings and assisting apps integrate SHIB.
- As the crypto world continues to evolve, stay updated on the latest news, insights, and analysis with U.Today, your go-to source for all things crypto, trading, finance, blockchain, and crypto news.
