Why Crypto Will Be the New Standard for Global Payouts
PaymentsJournal
Many companies expect gig workers to deliver fast, reliable work—but the way they’re paid often tells a very different story.
Behind the scenes, payouts can lag days or even weeks, get chipped away by fees, and disappear into layers of currency conversion and compliance hurdles that most contractors never see coming. This gap between real-time work and delayed compensation becomes even more pronounced in cross-border payments, where long-standing friction points persist: settlement delays, hidden costs, currency conversion, regional regulations, and limited visibility into where money actually is at any given moment…
Read moreFour Bank Trade Groups Urge Fed Regulators, Including NCUA, to Put the Stable in Rules Around Stablecoins
Frank Diekmann, CU Daily
Four major banking trade groups are urging federal regulators–including NCUA–to establish clear and transparent procedures for overseeing key decisions tied to the emerging stablecoin market, warning that weak rules could create uneven standards and regulatory uncertainty.
In a joint letter dated July 29 to the Treasury Department and leaders of the Federal Reserve, FDIC, OCC and National Credit Union Administration, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association and Independent Community Bankers of America called for formal rulemaking to govern the Stablecoin Certification Review Committee (SCRC), created under the GENIUS Act.
Read more
U.S. Senate Puts Off Crypto Clarity Act for Now as It Focuses Limited Bandwidth Elsewhere
Jesse Hamilton, CoinDesk
The majority leader is pursuing floor time for unrelated bills as the crypto industry waits for its policy effort to get its chance for votes.
The U.S. Senate has shelved the crypto Digital Asset Market Clarity Act for the moment as it proceeds with different bills on Russian sanctions and federal nominations, further setting aside the industry’s central policy effort and reducing its available runway in a crowded Senate agenda…
Read moreOrganizations Support Digital Asset Market Clarity Act
Melina Druga, Financial Regulation News
The Crypto Council for Innovation, Blockchain Association, and The Digital Chamber recently sent a letter to Majority Leader John Thune (R-SD) and Minority Leader Chuck Schumer (D-NY), expressing strong support for Senate floor consideration of the Digital Asset Market Clarity (Clarity) Act.
The legislation would establish a federal framework for digital asset markets that includes consumer safeguards tailored to digital assets. It would replace a patchwork of state money transmitter and licensing requirements…
Read more