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Crypto

Five obstacles to U.S. CLARITY bill, from Trump controversy to stablecoin interest

The U.S. Congress’ cryptocurrency bill known as the CLARITY Act faces at least five hurdles beyond the question of interest on stablecoins, an analysis said. TD Cowen pointed to vacancies at the CFTC, efforts to fold prediction markets into the bill, controversy over a Trump family-linked crypto project, pressure to tighten AML and Bank Secrecy Act provisions, and the possible attachment of a credit card competition bill. Stablecoin interest remains unresolved.

Crypto

Coinbase expands UK lending offering, crypto-backed up to $5 million

Coinbase is launching a USDC loan service for UK investors using cryptocurrencies as collateral. UK users can deposit bitcoin, ether or Coinbase Wrapped Staked ETH as collateral and borrow USDC through the Morpho lending protocol on the Base platform. Loans can be worth up to $5 million in USDC when backed by bitcoin, with variable interest rates and no fixed repayment schedule. Loans may be liquidated if loan-to-value thresholds are breached.

Crypto

Wemade teams up with BDACS to build standard model for stablecoin payments

Wemade signed an MOU on April 21 with digital asset custodian BDACS to develop a stablecoin payment model and cooperate on business. The two will link Wemade’s won stablecoin-only mainnet, StableNet, with BDACS’ corporate custody wallet. StableNet lets users pay transaction fees in won stablecoins without a gas token and supports KYC and AML compliance solutions. They also plan to jointly design reserve management and short-term custody asset operation architecture.