US CRYPTO RULES LACK SOLID FOUNDATION DESPITE PROGRESS
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The US crypto industry has advanced significantly over the past year, but key regulatory gaps and an incomplete rulebook are limiting further growth. Other regions are moving ahead with clearer frameworks.
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Visa's stablecoin settlement pilot has expanded to support nine blockchain networks and reached a $7 billion annualized transaction rate. The payments giant now includes Base, Polygon, Canton Network, Arc, and Tempo among its supported platforms.
Kraken, the cryptocurrency exchange planning a U.S. public listing, is pursuing a full banking license in Europe with Lithuania as its target jurisdiction.
The cryptocurrency sector is in a holding pattern as it awaits details on potential regulatory legislation, according to Arianna Simpson, former Andreessen Horowitz general partner. Bitcoin has retreated from its October peak of $126,000.
Ripple received Crypto-Asset Service Provider (CASP) authorization from Luxembourg's financial regulator CSSF, achieving full Markets in Crypto-Assets (MiCA) compliance. The approval enables the company to offer crypto services across all 30 European Economic Area countries.