• Rep. Maxine Waters is critical of PayPal’s stablecoin and wants it to be regulated by financial institutions.
• The SEC v. Ripple Labs case will go to trial in Q2 2024.
• Coinbase’s Ethereum layer-2 chain Base is now available publicly, while Bitstamp will halt U.S. trading of seven tokens identified as securities by the SEC in Coinbase and Binance cases.

Rep. Maxine Waters Criticizes PayPal’s Stablecoin

Congresswoman Maxine Waters has called for the regulation of PayPal’s stablecoin on par with other financial institutions due to her concerns over its potential risks and implications for users‘ privacy, security, and investment opportunities.

SEC V Ripple Labs Case Going to Trial

The Securities and Exchange Commission (SEC) has set a jury trial date in its lawsuit against Ripple Labs for Q2 2024 regarding XRP being classified as an unregistered security offering.

Coinbase Launches Ethereum Layer-2 Chain Base

Coinbase has launched its Ethereum layer-2 scaling solution, Base, which is now open to the public allowing users to deposit their ETH onto the platform without having to pay gas fees or wait for long transaction times that can be encountered on the mainnet blockchain network.

Federal Reserve Requiring State Banks Written Approval Before Engaging with Stablecoins

The Federal Reserve announced that all state banks must obtain written approval from the central bank before engaging with any type of stablecoin activity as part of a new move towards more robust regulation in this space.

Bitstamp Halts Trading of Seven Tokens Identified As Securities By SEC

Bitstamp announced it will be suspending trading services in the U.S market for seven tokens identified as securities by the SEC in recent Coinbase and Binance court cases involving cryptocurrency exchanges listing these assets without authorization from regulators

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