Crypto M - Crypto News

🚀 Wintermute's Ron Hammond Estimates 30% Chance for CLARITY Bill Passage Ron Hammond, head of policy at Wintermute, has estimated a 30% likelihood that the CLARITY crypto market structure bill will be approved this year. According to NS3.AI, Hammond identified the primary challenge as opposition from the banking sector regarding stablecoins that offer interest. #Wintermute#RonHammond#CLARITYBill#crypto#stablecoins#bankingsector#policy

🚀 Stablecoin Joint Venture Model Dominated by Banking Sector A joint venture in the stablecoin sector is primarily led by the banking industry. According to PANews, Standard Chartered Bank (Hong Kong) holds a 50.5% stake, making it the majority shareholder. Animoca Brands owns 37.5%, while Hong Kong Telecom indirectly holds 12% through Quality Champion Limited. This structure reflects a model where the banking sector leads, with support from technology and telecommunications. #Stablecoin#JointVenture#BankingSector#StandardChartered#AnimocaBrands#HongKongTelecom#Telecommunications#Technology#Banking#Blockchain

🚀 USDC Holders May Face End of 4% Earnings Amid Legislative Push PANews posted on X (formerly Twitter) that the days of earning a 4% return by holding USDC might be coming to an end. The American Bankers Association (ABA) has reportedly spent $56.7 million lobbying for the passage of the 'Clarity Act.' The primary aim of this legislation is to prevent users from obtaining returns similar to government bonds through stablecoin holdings. The banking sector's main concern is that if stablecoins can offer an annualized return of 4% to 5%, it could potentially impact up to $1.5 trillion in retail deposits. #USDC#Stablecoin#ClarityAct#AmericanBankersAssociation#CryptoRegulation#CryptoEarnings#BankingSector#Legislation#RetailDeposits