Now in Crypto, major banks including Bank of America, Goldman Sachs, Deutsche Bank and Citi are entering the Stablecoin breed. The prediction platform that Bashi has gained $ 300 million for a global expansion, while democratic senators face backlash with a suggested defi restriction list.
Banks will explore the launch of a stablecoin linked to G7 currencies
A group of banks is in the process of Exploring the launch of Stablecoins Focused on some of the world’s largest fiat currencies, including the US dollar, euro and Japanese yen.
According to a statement on Friday from BNP Paribas, banks including Bank of America, Goldman Sachs, Deutsche Bank and Citi Says That they launched a project to explore the “release of a 1: 1 supported form of digital currency that provides a stable payment property available in public blockchains” linked to currencies from the group of seven (G7) countries: the United States, Canada, United Kingdom, France, Germany, Italy and Japan.
“The purpose of the initiative is to explore whether a new offer throughout the industry can bring the benefits of digital assets and enhance competition throughout the market, while ensuring full compliance with regulatory requirements and best management management,” the banks said.
The statement does not suggest a timeline for the project, which is likely to deal with Tether’s USDT (USDT) competition, the largest stablecoin through market capitalization.
Among US banks, their efforts are likely to facilitate the recent passage of the Genius Act, a bill to repair payment stablecoins, signed by law By US President Donald Trump in July. Although the law, the genius is not expected to take effect for another 15 months, or 120 days after the US Treasury and Federal Reserve to end regulations around the bill.
Malashi has raised $ 300 million to expand predicting markets in 140 countries
The US -based prophecy market Closed another major funding of the funding To bring its platform to over 100 countries worldwide.
Blashi completed a series D funding of more than $ 300 million led by Sequoia Capital and Andreessen Horowitz (A16Z), along with paradigm participation, the company announced Friday.
The platform is immediately available in more than 140 countries, Blashi said in a statement shared with Cointelegraph, adding that it has now appeared as “a single global predica market and immediately added billions of new potential customers.”
The latest $ 300 million increases come months after Moldi closed a separate $ 185 Million Funding In June, led by the paradigm and also featured sequoia.
The funding of the Malashi series brought the company’s appreciation to $ 5 billion, up to $ 3 billion from its previous increase in June.
In addition to sequoia, A16z and Paradigm, the new funding is attracting additional investors, including capitalg, Coinbase Ventures, General Catalyst and Spark Capital.
On the heel of a fundraising round that appreciates the MAMINI for $ 5 billion, the platform also announced its international expansion with immediate launch in many new markets.
“International users can now access the platform through the Malashi website with the same product experience with American users,” the company said.
Backlash as Democrats suggests a “restrained list” for defi protocols
Despite the previous support of a crypto market structure bill, many democratic senators have reportedly introduced a counter-proposal that may see decentralized financial protocols placed on a “restrained list” if considered dangerous.
This step, among others they suggested, could “kill Defi,” according to its critics.
The Senate Banking Committee Democrats sent a proposal to Republicans of the Committee on Thursday that seek to impose knowing your customer policies in the frontes of crypto apps-including non-custodial wallets-and the removal of protections from crypto developers, many commentators in the industry said Report From Punchbowl News.
Among the commentators were crypto lawyer Jake Chervinsky, who Says Counter-Proposal can kill any chance of promoting a framework of crypto market structure, noting that it can break bipartisan support Law of Enlightenment was secured at home in July, where it passed 294-134.
“It’s so bad. It doesn’t control the crypto, it forbids crypto,” said Chervinsky, pointing to a proposed proposal that allows the Treasury department to create a “restrained list” for defi protocols that are considered to be too dangerous, making it a crime for anyone who uses them.
Blockchain Association CEO Summer Mersinger said the proposal, if implemented, would be impossible for industrial players to comply and push local coastlines along the coast.
