The US Federal Reserve, together with a number of financial regulators, has proposed introducing a mandatory Customer Identification Program (CIP) for issuers of payment stablecoins. The initiative implements the provisions of the GENIUS Act and is intended to strengthen the fight against money laundering, terrorist financing and other illegal operations with digital…

On June 19, the price of the first cryptocurrency dropped to $62,000 — the asset lost about 3% over the day. Ethereum fell below $1700. The correction is happening amid the emergence of yet another uncertainty around the situation in the Middle East. US Vice President JD Vance postponed a trip to Switzerland that had been planned as part of signing an agreement with Iran. In addition…

The mining economics of the first cryptocurrency have deteriorated this year. Bitcoin has been trading below the cost of production for five months already, The Block writes, citing JPMorgan. The bank's experts estimated the average cost of mining a single coin at $78,000. At the asset's current price, roughly 20% of miners are operating at a loss.

The US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have issued a joint request for public comment. The regulators want to update and clarify the definitions of a number of derivatives, and this is happening against the backdrop of the CME exchange's lawsuit against the CFTC. The request covers a wide range of topics, including the definitions of "swaps" and "security-based…

Amid the falling share price of Strategy, the largest public corporate holder of bitcoins, economist Peter Schiff accused the company's founder Michael Saylor of deception. The economist claims that investors who bought the shares thanks to Saylor's promotion have every reason to file lawsuits, since…