Daily Brief: US Enacts GENIUS Act Stablecoin Framework

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US Enacts GENIUS Act Regulating Payment Stablecoins

Public Law 119-27 establishes federal oversight for stablecoin issuers under US banking regulators while exempting non-custodial developers and liquidity pools from securities classifications .

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US and UK Sanction Networks Behind $16 Billion Scam Empire

Authorities severed Huione Group from western finance and sanctioned Prince Group for allegedly laundering $4 billion and orchestrating cyber fraud operations in Cambodia .

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Bitmine Accumulates 4.9% of Circulating Ethereum Supply

The corporate treasury now holds 6.03 million $ETH, with 5.06 million tokens deployed in validators generating $336 million in annualized yield .

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SWI Group Acquires $500M Genesis Stake for AI Pivot

The Euronext-listed firm bought a 38.3% stake in Genesis Digital Assets to convert 1.3 gigawatts of crypto mining capacity into high-performance computing centers .

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Uniswap Proposes Activating Protocol Fees on Arc Layer 1

A governance vote considers enabling $UNI fees across Arc liquidity pools, routing the generated revenue through Wormhole to burn tokens on mainnet .

The numbers

Bitcoin holds at $83,208 and Ethereum slides 2.3% to $2,496, while total crypto market capitalization sits at $2.76 trillion.

What to watch

• Subsequent regulatory rulemaking from the OCC, Federal Reserve Board, and FDIC implementing the GENIUS Act approval mechanisms.
• The UK High Court decision on whether English or Chinese conflict-of-laws principles govern restitution claims over seized Bitcoin.

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