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Crypto

Ripple CLO calls for supplements, not brakes, on U.S. stablecoin rules, says self-custody right must be protected

User protection and the right to hold assets in personal wallets have emerged as key issues in detailed U.S. stablecoin implementation rules, the National Cryptocurrency Association said in comments to the Treasury on rules tied to Section 3 of the GENIUS bill. Signed by NCA President and Ripple chief legal officer Stuart Alderoty (스튜어트 알데로티), the submission backs 100% reserve requirements while seeking safeguards against automatic freezes, a safe-harbor window, clearer grounds for reissuing stablecoins under court orders, and limits on regulating non-custodial wallets and software providers.

Crypto

U.S. Treasury withdraws reporting rule proposals for noncustodial wallets and crypto mixing

The U.S. Treasury has withdrawn two long-pending cryptocurrency monitoring proposals, including a 2020 plan targeting noncustodial wallets and a 2023 plan that would have designated foreign crypto mixing as a primary money-laundering concern. The move is being welcomed by privacy advocates and the digital asset industry, which said the proposals could have imposed broad reporting duties. FinCEN said concerns were raised about overly broad definitions and paperwork burdens.

Crypto

U.S. Senate report says 84 percent of Iran-linked sanctioned wallets mainly used Tether\'s USDT

Democrats on a U.S. Senate investigations subcommittee said many crypto wallets designated for sanctions or seizure tied to Iran and affiliated forces used Tether’s stablecoin USDT. The panel analysed 846 wallets and found 84 percent used USDT exclusively or mainly. The report also cited large transaction volumes and alleged links to groups and networks. Tether said it works with U.S. authorities and has frozen assets tied to Iran-linked wallets.