The ABA sent a letter to the U.S. Senate, saying stablecoins that offer yields will affect its banking members ability to grant loans, but JPMorgan disagrees. What to know: More than 100 community bank leaders are urging U.S. senators to close what they describe as dangerous loopholes in stablecoin legislation, […]
The Kinexys-led move aims to bring regulated digital cash to a privacy-enabled blockchain for real-time, interoperable finance. What to know: J.P. Morgan’s blockchain business unit, Kinexys, and Digital Asset announced plans to bring the bank‑issued USD deposit token JPM Coin (JPMD) natively to the Canton Network, a privacy‑enabled public blockchain […]
The Central American country’s economy is projected to grow 4% this year, the IMF said. What to know: The International Monetary Fund (IMF) praised El Salvador’s stronger-than-expected economic growth in a statement on Monday. The update notably did not include previous IMF suggestions that El Salvador would be putting on hold […]
YouTube has added PayPal’s dollar-pegged stablecoin as a payout option for U.S. content creators, marking one of PYUSD’s most high-profile use cases yet. What to know: YouTube enabled U.S. content creators to receive their earnings in PayPal’s (PYPL) stablecoin PYUSD, according to a report by Fortune, which cited PayPal’s head of crypto, […]
Canada’s tax agency says legal gaps limit its ability to track crypto-related income as it recovers $100 million through audits and pushes for tighter regulation. What to know: The Canadian Revenue Agency (CRA) revealed that 40% of taxpayers who use cryptoasset platforms are evading crypto taxes or are at high […]