• Rep. Maxine Waters has criticized PayPal’s stablecoin and is demanding regulation on par with financial institutions.
• Coinbase’s Ethereum layer-2 chain Base is now live to the public.
• The Federal Reserve will require state banks to get a written ‘non-objection’ from the central bank before engaging with stablecoins, while Bitstamp will halt U.S. trading of seven tokens identified as securities by SEC in Coinbase and Binance cases. Visa has also introduced a way to pay gas fees with credit cards.
Criticism of PayPal’s Stablecoin
Rep. Maxine Waters has criticized PayPal’s stablecoin and is demanding regulation on par with financial institutions for it, while a jury trial in SEC v. Ripple Labs has been set for Q2 2024.
Ethereum Layer 2 Chain Live
Coinbase’s Ethereum layer-2 chain Base is now live to the public, allowing users to access fast and cheap transactions on the blockchain network without waiting times or high transaction costs for miners’ fees associated with Ethereum mainnet transactions.
Federal Reserve Regulations
The Federal Reserve will require state banks to get a written ‘non-objection’ from the central bank before engaging with stablecoins, while Bitstamp will halt U.S. trading of seven tokens identified as securities by SEC in Coinbase and Binance cases.
Visa Solutions
Visa has also introduced a way to pay gas fees with credit cards, which could be a game-changer for users looking to simplify their blockchain transactions without having to constantly manage ETH balances for fluctuating gas fees via exchanges or on-ramp services like MyEtherWallet or MetaMask wallets .
Conclusion
In conclusion, various players in the cryptocurrency space are introducing solutions that allow users more control over their funds when using cryptocurrencies, such as Visa’s ability to pay gas fees with credit cards while still offering protection against volatility via its own internal price hedging system.