• Rep. Maxine Waters has criticized PayPal’s stablecoin and is demanding regulation from financial institutions.
• Jury trial in SEC v. Ripple Labs has been scheduled for Q2 2024.
• Coinbase’s Ethereum layer-2 chain Base is now live and accessible to the public.
Rep. Maxine Waters Criticizes PayPal’s Stablecoin
Rep. Maxine Waters has voiced her criticism of PayPal’s stablecoin, calling for it to be regulated on par with traditional financial institutions. She urged the Federal Reserve to require state banks to obtain written permission from the central bank before engaging with stablecoins such as those offered by PayPal.
SEC v Ripple Labs Jury Trial Scheduled for Q2 2024
The U.S Securities and Exchange Commission (SEC) has set a date for its jury trial against Ripple Labs Inc., which will take place in the second quarter of 2024. The agency had filed a lawsuit against the company earlier this year accusing it of illegally selling unregistered securities in the form of XRP tokens over a seven-year period since 2013, resulting in billions of dollars worth of profits for its founders and executives while leaving investors exposed to losses when their value dropped drastically after the lawsuit was announced in December 2020.
Coinbase’s Ethereum Layer-2 Chain Base Live to Public
Coinbase recently made its Ethereum layer-2 scaling solution, called Base, available to the public through its web interface Coinbase Wallet and mobile app Coinbase Wallet App. The platform allows users to store, trade, manage, and send ETH directly from their devices without relying on any third-party service provider or custodian service providers like exchanges or wallets, thereby providing more security than other methods that rely on centralized services that are more vulnerable to hacks or malicious activity due to their centralized nature.
Federal Reserve Requires Banks To Get Written Permission Before Engaging With Stablecoins
The Federal Reserve is requiring state banks to obtain written “non-objection” permission from the central bank before engaging with stablecoins such as those offered by companies like Facebook or PayPal. This applies not only for banks but also credit unions and other financial institutions that may look into introducing digital currency solutions within their portfolio offerings as part of broader efforts towards modernizing banking infrastructure across America while ensuring customer safety at all times via proper regulatory oversight over these new asset classes that have become increasingly popular over time amongst retail investors looking for alternative ways of generating returns outside of traditional stock markets during periods where volatility levels have been increasing considerably due to macroeconomic trends worldwide impacting investor sentiment accordingly throughout 2021 so far with no signs of abating anytime soon going forward either according current market forecasts released by major investment houses like Goldman Sachs or JP Morgan Chase amongst others at this point in time overall speaking generally here about recent developments taking place within global economic sphere overall speaking generally here at this point in time .
Bitstamp Halts US Trading Of Tokens Identified As Securities By SEC In Binance And Coinbase Cases
In light of recent legal action taken by the U.S Securities and Exchange Commission (SEC) against major cryptocurrency exchanges such as Binance and Coinbase involving tokens identified as securities under U.S laws, Bitstamp announced that it would cease trading activities related to seven such tokens within its platform effective immediately until further notice when further investigation into each individual case involved can be conducted properly going forward accordingly at this point in time still relative speaking generally here about recent developments taking place within global crypto industry currently overall speaking generally here about recent developments taking place worldwide across various sectors currently still relative speaking generally here ultimately .
Ledger Partners With PayPal For Crypto Access In US
Ledger recently partnered up with payment giant PayPal allowing customers based out of United States access cryptocurrencies directly through their linked accounts using Ledger Live companion app seamless manner securely while still being compliant with applicable state laws currently applicable at this point in time too relative speaking generally here about most recent development taking place between two entities mentioned previously herein already too ultimately . Users who had previously bought crypto through Paypal can purchase them again using Ledger Live without additional verification required which automatically transferred acquired digital assets user’s hardware wallet respectively too relative speaking generally overall here still ultimately .