Wyoming Stablecoin Committee Hiring 2026 Summer Legal Interns to Participate in Digital Asset Regulatory Framework Development

FED Kashkari blasts: Cryptocurrencies are "useless," stablecoins are a "hodgepodge of buzzwords"

Federal Reserve Chair Neel Kashkari strongly questions the practicality of cryptocurrencies, believing they have yet to prove any value, and compares their potential to that of artificial intelligence. He criticizes stablecoins for not bringing substantial upgrades to the financial system and argues that their advantages mainly do not target American consumers, highlighting his skepticism towards cryptocurrencies and contrasting with the government's supportive stance.

What signals did the SEC send behind the new regulation of 2% discount on stablecoins?

The new guidelines issued by the U.S. Securities and Exchange Commission (SEC) allow brokers to calculate net capital with a 2% discount for payments made in stablecoins. This change could promote the adoption of stablecoins in mainstream finance. At the same time, this policy will be implemented alongside the enactment of the GENIUS Act, helping to clarify the status of stablecoins within the existing regulatory framework and making it easier for market participants to engage in digital asset trading.

Elliptic reveals 5 exchanges assisting Russia in evading sanctions: ABCeX alone trades $11 billion

Blockchain analytics company Elliptic has identified five cryptocurrency exchanges assisting Russia in evading sanctions, with ABCeX's total trading volume exceeding $11 billion. The report analyzes the operational models of these exchanges, including obfuscating transaction sources and dealings with sanctioned platforms. The European Union plans to impose a comprehensive ban on cryptocurrency transactions with Russia, but enforcement faces challenges. After each round of sanctions, new trading platforms quickly emerge, undermining the effectiveness of the sanctions.

Elliptic: Five crypto trading platforms assist Russia in evading sanctions, filling the gap left by Garantex's closure

Elliptic reports that after sanctions, the Russian crypto trading platform Garantex was seized, and at least five alternative platforms still provide funding channels for sanctioned entities, although most have not yet been sanctioned. Platforms like Bitpapa and ABCeX frequently change wallets to evade monitoring, and research shows that related sanctions evasion activities continue across multiple platforms.

Caixin: RWA based on Hong Kong assets are not under the jurisdiction of Chinese regulatory authorities

The No. 42 document jointly issued by the People's Bank of China and seven other departments clearly defines the regulatory framework for virtual currencies and related risks. It stipulates strict control over domestic assets going abroad for RWA issuance, with Hong Kong identified as a potential issuance location, but it is not within the scope of mainland regulation. The overall tone emphasizes strict regulation and does not include any encouragement for development.

X Product Manager: Infode is suspected to be connected with Kalshi, and its ranking aims to increase click-through rates by using female imagery.

X Product Lead Nikita Bier questions the Infodex list of the most valuable startups in 2025, specifically pointing out valuation issues with the fintech company Kalshi, and claims that the list information is false, demanding disclosure of whether it is paid promotion content.