Here is what happened yesterday in the crypto market:
GENIUS Act Becomes Law, Regulating Stablecoins
President Donald Trump signed the stablecoin bill into law, aiming to regulate how stablecoin issuers operate in the US market. This legislation, known as the GENIUS Act, dictates key aspects of stablecoin regulation and has been a significant point of discussion in the crypto space [Crypto Execs Center Stage As Trump Signs Stablecoin Bill Into Law].
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SEC Considers Innovation Exemption for Tokenization
SEC Chair Paul Atkins is exploring an “innovation exemption” within regulatory frameworks to boost tokenization efforts. This move could simplify compliance for new crypto projects and potentially foster growth in the digital asset sector [Atkins Emphasized Blockchain’s Potential to Revolutionize US Financial Infrastructure].
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XRP Jumps 22%, Market Cap Reaches $210 Billion
XRP experienced a significant surge, climbing 22% and hitting a record market capitalization of $210 billion. This price discovery comes amid favorable regulatory developments in the US, providing tailwinds for the cryptocurrency [XRP Hits New All-time High Above $3.66 as Price Chart Targets $14].
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Crypto Market Cap Nears $4 Trillion Milestone
The total cryptocurrency market capitalization is approaching $4 trillion, driven by daily rallies in major assets like Bitcoin, Ether, and XRP. This surge is partly attributed to the passage of key crypto bills by the US House of Representatives [Crypto Market Cap Nears $4 Trillion as ETH and XRP Surge].
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Trump Considers Executive Order for Crypto in 401(k)s
Reports indicate that President Trump is set to sign an executive order that could allow cryptocurrencies into American 401(k) retirement plans. If enacted, this could open up a significant new avenue for mainstream crypto investment [Trump Reportedly Weighs 401 (k) Investment Shift to Include Crypto].
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