The ProShares GENIUS Money Market ETF (IQMM) shattered all records by logging $17 billion in first-day trading volume. The ETF invests in very short-term US government debt, making it extremely low risk and similar to holding cash. This ETF is designed so institutions, including stablecoin issuers, can use it as a safe place to store money while earning a small yield. However, market structure experts warn the staggering sum reflects a massive, behind-the-scenes corporate treasury migration rather than a ...

Core Insights - The SEC has allowed broker-dealers to apply a 2% haircut to payment stablecoins, significantly reducing the previous 100% capital penalty [1][2][3] - This change aligns compliant stablecoins with traditional money market funds, facilitating broader access to on-chain markets [3] - The new regulatory framework under the GENIUS Act mandates strict reserve requirements for stablecoin issuers, enhancing compliance and stability [4][5] Group 1: Regulatory Changes - The SEC's guidance marks a pivotal shift in how stablecoins are treated in traditional finance, moving from a punitive 100% haircut to a more manageable 2% [1][2] - This adjustment is expected to make institutional crypto trading more viable for traditional financial institutions [2][3] Group 2: Impact on Market Participants - The reduced capital penalty is anticipated to drive substantial adoption of US-regulated stablecoins like Circle's USDC within the $6 trillion financial sector [6] - SEC Commissioner Hester Peirce emphasized that the stringent reserve requirements for stablecoins will support their essential role in blockchain transactions [5]

（来源：吴说） 美国参议员 Elizabeth Warren 公开呼吁美联储和财政部不要使用纳税人资金或联邦后盾机制救助加密货 币行业的亿万富翁。在近期加密市场出现波动的背景下，Warren 强调，如果缺乏足够的监管约束，内 部人士和加密亿万富翁（包括特朗普家族等）极易在危机中保全自身，并将所有损失转嫁给散户交易员 或退休人员。为此，她强烈敦促美国财政部针对 GENIUS Act 出台严格的配套规则，并明确发布指导意 见，禁止动用外汇稳定基金或美联储紧急贷款工具等联邦资源来为稳定币及加密行业兜底。 (Cointelegraph) ...

NEW: 🇺🇸 CFTC expands stablecoin rules, allowing national trust banks to issue stablecoins under the GENIUS Act.Source: CFTC https://t.co/vfhc74XFRb ...

Banks and crypto used to wage their regulatory battles behind closed doors. Well, not anymore. The fight is completely in the open now, and it's getting hairy.Previously, the battle was over whether crypto was legal. This time, it's about whether crypto can pay interest. And that's a fight banks absolutely cannot afford to lose.JP Morgan, the American Bankers Association, Coinbase, and Circle are at war over a technical loophole in the Genius Act, the law that was supposed to legitimize stable coins, but ac ...

RT Sarah Wynn (@ForTheWynn_)💵 Tuned in to today's House Financial Services Committee hearing where Treasury Secretary Scott Bessent is testifying. When asked about the implementation of the GENIUS Act (stablecoin law passed last year), he said that stablecoins could be "an important feature of financing the U.S. government."We are moving with deliberate speed to round out the House and the Senate's intention on that," he added. ...

New York Attorney General Letitia James and four district attorneys, including Manhattan’s Alvin Bragg, signed a letter Monday accusing the GENIUS Act of providing “legal cover” for stablecoin issuers to profit from financial crimes while leaving fraud victims without recourse. The prosecutors say the law has provided the “imprimatur of legitimacy” for stablecoins while allowing issuers to “avoid significant regulatory requirements that are needed to combat financing terrorism, drug trafficking, money lau ...

Fidelity Investments announced on Jan. 28 the launch of its first stablecoin, the Fidelity Digital Dollar (FIDD). The move positions the asset management giant as one of the first major traditional financial institutions to issue a dollar-backed token under the GENIUS Act, the federal stablecoin law signed in July 2025. FIDD will be issued by Fidelity Digital Assets, National Association, a federally chartered national trust bank, and will operate on the Ethereum blockchain with each token redeemable for ...

Tether said Tuesday that its USAT stablecoin is now available for trading and will be issued by Anchorage Digital, providing it with a pathway toward compliance under the GENIUS Act. In a press release, the El Salvador-based firm said the stablecoin—which debuted on several crypto exchanges, including Kraken and Crypto.com—was specifically designed for U.S. markets, with Anchorage's status as a federally chartered digital asset bank placing the product under the supervision of the U.S. Office of the Comptro ...

Tether has officially launched USAT, a federally regulated, dollar-backed stablecoin built specifically for the U.S. market under the new GENIUS Act framework. The token, issued by Anchorage Digital Bank, marks Tether’s formal entry into America’s emerging federal stablecoin regime and shows a major shift in how digital dollars may operate inside the United States’ regulated financial system. Announced on 27 January, the launch follows earlier disclosures about the project’s design and the appointment o ...