21 May 2025, 10:40

Hong Kong Passes Stablecoin Bill Under New Regulatory Framework

The post Hong Kong Passes Stablecoin Bill Under New Regulatory Framework appeared first on Coinpedia Fintech News Hong Kong has officially passed the Stablecoin Bill in its third reading. This landmark legislation opens the door for regulated stablecoin issuance and aligns digital assets with traditional finance under a clear regulatory framework. Hong Kong Greenlights Regulated Stablecoin Issuance The Hong Kong Legislative Council has approved the Stablecoin Bill, marking a major milestone for crypto regulation in the region . The new law allows qualified institutions to apply for stablecoin licenses from the Hong Kong Monetary Authority (HKMA) starting later this year, with full implementation expected by the end of 2025. Only stablecoins backed by legal tender will be eligible, ensuring transparency, accountability, and consumer protection in a rapidly growing market. Hong Kong’s Vision to Become a Global Web3 Leader Reacting to the bill’s passage, Johnny Ng Kit-chong , a member of the Legislative Council , called the move a major step in Hong Kong’s journey to becoming an international Web3 hub . He invited global fintech and crypto companies to apply for stablecoin licenses and participate in shaping the city’s blockchain-driven future. Lawmaker Outlines Roadmap for Stablecoin Utility Ng emphasized that licensing is only the beginning. He proposed boosting stablecoin adoption in: Retail payments Cross-border trade Peer-to-peer transactions He also floated the idea of distributing interest earnings to stablecoin holders as an incentive, aimed at increasing user engagement, competitiveness, and long-term growth. Stablecoin Market Overview: Key Stats The global stablecoin market continues to expand rapidly: Total market cap : $247.36 billion 24-hour trading volume : $81.24 billion .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Breaking: U.S. Senate Moves GENIUS Act Forward with 66-32 Vote , Top stablecoins by market cap include: Tether (USDT) – $151.63B USD Coin (USDC) – $60.50B USDS – $7.02B Ethena USDe – $5.02B DAI – $3.69B Tether remains the dominant force, ranking as the third-largest crypto asset after Bitcoin and Ethereum. What This Means for Crypto and Global Finance Hong Kong’s stablecoin regulation may spark a new wave of institutional participation in the crypto market. 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It’s a law enabling regulated issuance of fiat-backed stablecoins by licensed institutions under HKMA oversight. When can institutions start applying for stablecoin licenses in Hong Kong? Institutions are expected to be able to apply for licenses from the Hong Kong Monetary Authority (HKMA) by the end of 2025 , according to the bill passed by the Legislative Council. How does Hong Kong’s stablecoin law compare to other countries’ regulations? Unlike many countries that are still debating stablecoin laws, Hong Kong has taken a clear regulatory stance , offering a licensing path—similar to MiCA in the EU , but more focused on fiat-backed coins. Will Hong Kong issue its own government-backed stablecoin? There is no official announcement on this yet, but the current framework leaves room for a potential Hong Kong dollar-pegged stablecoin in the future.

21 May 2025, 10:05

$16 billion outflows from XRP in a week amid spot ETF blow

XRP is witnessing a notable decline in investor confidence, with its market capitalization dropping by over $16 billion in the past week. This downturn coincides with the U.S. Securities Exchange Commission’s (SEC) decision to postpone its ruling on 21Shares’ proposed spot XRP exchange-traded fund ( ETF ), as outlined in a filing on May 20. A week ago, XRP’s market capitalization stood at $153.56 billion. As of press time, the figure has fallen to $137.45 billion, a decline of $16.11 billion. The token is currently trading at $2.34, reflecting a price drop of nearly 10% over the same period. XRP market cap chart. Source: CoinMarketCap SEC delays spot ETF approval In announcing the delay, the SEC stated it would extend the review period to assess whether the proposed 21Shares Core XRP Trust complies with Section 6(b)(5) of the Exchange Act. This provision mandates that ETF products implement adequate safeguards against fraud and market manipulation. The proposed ETF aims to track the CME CF XRP-Dollar Reference Rate and rely on Coinbase Custody to securely store its underlying assets. Following the delay, stakeholders have 21 days to submit comments and 35 days for rebuttals. On the other hand, Bloomberg ETF analyst James Seyffart described the development as “expected,” noting that the SEC typically utilizes the 240-day review window under the 19b-4 filing process. He stated that approvals for spot crypto ETFs are unlikely before late June or early July and are more realistically expected in early Q4 2025. Delays on spot crypto ETFs are expected. A bunch of XRP ETPs have dates in next few days. If we're gonna see early approvals from the SEC on any of these assets — i wouldn't expect to see them until late June or early July at absolute earliest. More likely to be in early 4Q. — James Seyffart (@JSeyff) May 20, 2025 Next SEC ETF decision For instance, as reported by Finbold, the SEC is expected to decide on Franklin Templeton’s application for a spot XRP ETF by June 17, 2025. Franklin Templeton, one of the largest asset managers pursuing such a product, aims to offer investors exposure to XRP via traditional brokerage accounts, an approval that could potentially drive the asset’s price higher. Indeed, odds of spot XRP ETF approval have surged on prediction markets such as Polymarket , where confidence in a 2025 unveiling of the product has risen to 83% . XRP spot ETF approval odds. Source: Polymarket Importantly, this ETF delay has occurred against ongoing litigation between Ripple and the SEC. Both parties continue to push for a resolution, though the case remains unresolved and has now experienced further procedural delays . Featured image via Shutterstock The post $16 billion outflows from XRP in a week amid spot ETF blow appeared first on Finbold .

21 May 2025, 10:00

Bitcoin Surges as Fed Officials Signal Dovish Stance Amid Economic Uncertainty

The recent statements from St. Louis Fed President Bullard highlight the ongoing complexities in U.S. economic policy, particularly concerning tariff impacts on inflation and the labor market. While acknowledging a

21 May 2025, 09:51

Ripple CEO Galinghouse Reiterates Ripple (XRP) Mission

Brad Garlinghouse, CEO of Ripple, expressed concern over Senator Cynthia Lummis’ recent cancellation of a meeting with him and her office’s refusal to reschedule. He seized the medium to reiterate Ripple’s mission in the United States and worldwide. In a post on X, Garlinghouse emphasized that Ripple has failed to secure a one-on-one meeting with the Senator in the last six years, despite being a U.S.-based company actively working to expand the domestic crypto economy. Garlinghouse acknowledged that last-minute changes are often unavoidable in a senator’s daily schedule. However, he took issue with the outright refusal to find another time to meet. He stated that the response from Lummis’ staff that the meeting can’t be rescheduled was troubling. He added, “I really have to wonder if this was Sen. Lummis or someone on her staff making this decision.” Thanks for this info. Certainly enlightening that Will Cole is related to Sen Lummis. I understand that things happen in a Senator’s day that force their schedules to change, but for a Congressional staff to say "unable to reschedule” is really troubling (when we've been unable… — Brad Garlinghouse (@bgarlinghouse) May 19, 2025 Potential Conflicts of Interest Surface The situation has gained further attention as new information about Senator Lummis’ personal and financial ties to the Bitcoin industry has emerged. Will Cole, Head of Product at a Bitcoin payments company, was identified by one community member as Lummis’ son-in-law. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Cole is a vocal supporter of Bitcoin and has previously shared content criticizing Ripple and Garlinghouse. His recent repost of a post mocking Garlinghouse has increased scrutiny of the Senator’s impartiality. What further raises questions is the fact that Lummis has received financial support from venture capital firm Andreessen Horowitz (A16Z), a known backer of various crypto and blockchain projects. Lummis has been a staunch advocate for Bitcoin and is considered one of Congress’s most prominent Bitcoin-aligned lawmakers. These affiliations could explain the Senator’s reluctance to engage with Ripple, a company often positioned in opposition to Bitcoin maximalism. While no formal accusations of misconduct have been made, observers in the crypto community are questioning whether the Senator’s personal and familial connections are influencing her professional decisions. A popular attorney called Bitcoin maximalists immature as they jumped on the situation, attempting to paint it as a victory for BTC, failing to see the harm their actions can do to the crypto market. What’s Next for the Crypto Industry Garlinghouse and others at Ripple have consistently advocated for regulatory clarity, industry support in Washington, and an inclusive approach to crypto regulation. The inability to secure a meeting with Senator Lummis, who has positioned herself as a leader on digital asset policy, has raised concerns about favoritism in the crypto space. For Ripple, exclusion from key policy conversations may affect its ability to contribute to the regulatory landscape, but Garlinghouse remains undeterred. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CEO Galinghouse Reiterates Ripple (XRP) Mission appeared first on Times Tabloid .

21 May 2025, 09:48

'Hawk Tuah Girl' Hailey Welch Claims SEC, FBI Cleared Her for the HAWK Memecoin Disaster

Haliey Welch, better known as “Hawk Tuah Girl,” is now distancing herself from last December’s failed HAWK memecoin — despite previously calling it a fully compliant, fan-focused token she was proud to launch. In a new episode of her Talk Tuah podcast, Welch claimed she was questioned by the FBI and handed over her phone to the SEC, but was ultimately “cleared” of wrongdoing. “They went through my phone, so they cleared me. I was good to go,” she said. “I wish we knew then what we know now.” She also dodged direct responsibility, instead framing herself as an unwitting pawn: “I don’t have anything to hide.” But Welch's latest comments — claiming she didn’t understand crypto and felt “sick” that fans trusted her — stand in sharp contrast to her original announcement in November 2024. At the time, Welch said she was “excited to be part of meme culture” and had “learned so much” while working with launch partners to bring $HAWK to life. The token, which launched on Solana, briefly hit a $491 million market cap before plunging below $100 million in hours. Welch’s team claimed the project was legally compliant and backed by a Cayman foundation, and said her tokens would vest over three years. Welch claims user losses are far lower She went on to claim that while initially customer losses were estimated to be as high as $1.2 million, the real loss figure stands at $180,000. However, there are still 10,149 token holders according to Solscan and many of those holders never sold thus losses were never realized. The $180,000 figure does not include those holders. Commentators on her podcast aren’t buying the story. “She admits that she didn't know anything about it but decided to endorse it anyway and promote it?” one YouTube comment read. “You should have never attached yourself to something you didn't understand,” another said. HAWK prices are down 99% since its December peak, sitting at a tiny $104,000 market capitalization as of Tuesday morning.

21 May 2025, 09:41

GENIUS Act Advancement Sparks Optimism for Future Bitcoin Bull Market, Says Bitwise CIO

On May 21st, COINOTAG reported that the U.S. Senate has taken a significant step by advancing a groundbreaking stablecoin legislation. According to Matt Hougan, Chief Investment Officer of Bitwise, this