DeFI News by Thebittimes.Com

Despite years of promises to host a bitcoin (BTC)-only conference, altcoins have overrun David Bailey’s 35,000-attendee event at the Venetian Expo Center in Las Vegas. Bitcoin 2025, the continent’s largest crypto event, is attracting thousands of people promoting a surprising number of alternative digital assets — including endorsements of non-BTC tokens from the main stage. Indeed, Justin Sun took to the Nakamoto Stage to promote his tokenized version of BTC, WBTC, which has been the subject of numerous controversies. Not only that, Sun’s affiliated HTX DAO Ventures, which is connected to Huobi-promoted stablecoins like the failed HUSD and USDD, is a conference sponsor. Justin Sun-affiliated HTX DAO Ventures is connected to stablecoins like the failed HUSD and USDD. During his talk, Sun referred to “raw bitcoin” as a great “way to get your bitcoin into a smart contract platform,” and echoed the possibility of using BTC as collateral to borrow stablecoins . ...

US President Donald Trump is optimistic that dollar-backed stablecoins will help maintain the US dollar as the leading currency in the world. In a pre-recorded video for the participants of the Blockworks Digital Asset Summit in New York, Trump said he encourages the creation of a legal framework for stablecoins, cryptocurrencies pegged to the value of a stable asset such as the US dollar. “I have called on Congress to pass landmark legislation creating simple, common sense rules for stablecoins and market structure. With the right legal framework, institutions large and small will be liberated to invest, innovate and take part in one of the most exciting technological revolutions in modern history.” He says that stablecoins will enable crypto pioneers to fuel America’s financial growth and strengthen the US dollar’s position as the most dominant global currency. “You will unleash an explosion of economic growth and with the dollar-backed stablecoins, you will h...

VanEck chief executive Jan van Eck is outlining what he thinks will be the biggest milestone for the crypto sector in 2025. While speaking with Anthony Pompliano at Bitcoin Investor Week, Van Eck argues that stablecoins are the most interesting part of the digital asset world. The CEO praises the stablecoin legislation working its way through the Senate, but he also says he’s worried US banking regulators will try to kill the bill or “say you have to be a bank to issue a stablecoin.” Senator Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in February. The legislation, which aims to establish regulatory clarity for stablecoins, passed out of the Senate Banking Committee earlier this month. Van Eck also thinks there’s a “big opportunity” with tokenization. “If Hester Peirce and the SEC do what they say they’re going to do… I don’t think we ...

Circle, the issuer of the second largest stablecoin by capitalization, USD Coin (USDC), has entered into a partnership agreement with Tokyo-based financial services company SBI Holdings. SBI Group and Circle have also committed to properly complying with regulations related to stablecoin s, including communication with authorities. To circulate USDC stablecoin s in Japan, SBI VC Trade Co., Ltd. (head office: Minato-ku, Tokyo) is seeking registration as an electronic payment instrument service, which is subject to government approval. The goal of the collaboration is to adapt the token and its own Web3 services in Japan, Circle says on its website. The parties came to an agreement against the backdrop of active work by the Japanese authorities on the formation of legal standards for stablecoin s. You might also like: Japan to lift its ban on foreign stablecoins in 2023 “Our partnership with SBI Holdings represents a shared vision for the future of digital currency, and is...

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the details of the SEC’s ban on crypto staking and whether stablecoins are securities. This week on The Market Report, the resident experts at Cointelegraph discuss why the United States Securities and Exchange Commission is going after crypto staking and why stablecoin s have been in the news recently. We start off this week’s show with the latest news in the markets: SEC lawsuit against Paxos over BUSD baffles crypto community On Feb. 13, the SEC issued a Wells Notice to Paxos Trust Company, which issues the Binance USD (BUSD) stablecoin , alleging that the stablecoin is an unregistered security. On the same day, the New York Department of Financial Services ordered Paxos to halt the issuance of BUSD. This led to various members of the crypto community taking to Twitter to give their takes on the situation. From disregarding the issue as “FUD” to calling it an attack against the Binance exchan...