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Crypto

U.S. crypto Clarity Act clash pits Ripple CEO against JPMorgan\'s business model

Ripple CEO Brad Garlinghouse rebutted JPMorgan CEO Jamie Dimon over the U.S. Clarity Act, saying Dimon is distorting the bill and should be clearer about why he wants to keep the current system. The dispute focuses on a provision allowing platforms such as Coinbase to offer rewards to users who deposit stablecoins. Garlinghouse said JPMorgan opposes the bill to protect its existing business model. The bill has cleared a Senate committee vote but still needs final Senate approval.

Crypto

U.S. banks call for stablecoin rules to cover secondary market trading

U.S. banking groups have urged regulators to clearly extend anti-money laundering rules for stablecoins beyond issuance to secondary market trading. The crypto industry has pushed back, warning that imposing responsibility for transactions issuers cannot control could shrink the DeFi ecosystem. The debate centres on who should monitor transfers after issuance, including movements between exchanges, DeFi protocols and private wallets, and how far regulatory responsibility should reach.

Crypto

MassPay partners with Coinbase to expand USDC-based cross-border payments

MassPay is working with Coinbase to expand a cross-border payments service based on the dollar stablecoin USDC. Cointelegraph reported on June 11 that the partnership will connect MassPay’s payments network spanning 180 countries with Coinbase’s cryptocurrency infrastructure. Corporate customers will be able to make overseas payments across fiat currency, USDC and other digital assets. Coinbase will handle wallet infrastructure, custody and on-chain settlement, while MassPay will manage final payouts through bank transfers, mobile wallets and digital-asset channels.