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Crypto Wallet Phantom Unveils Stablecoin and Payments Service

In brief Phantom designed its own stablecoin—CASH—to underpin its new consumer financial platform Phantom Cash. Phantom Cash will offer unique features like peer-to-peer transactions, a Visa debit card, and rewards on unspent CASH. The wallet provider raised $150 million in January at a $3 billion valuation. Popular Solana crypto wallet Phantom unveiled CASH, a new…

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Kentucky State Senator Sued Over Bitcoin Mining Business

In brief Kentucky Senator Brandon Smith faces two lawsuits over his Bitcoin mining repair company Mohawk Energy, including claims of misrepresentation and breach of contract. Smith, who authored Kentucky’s 2021 crypto mining tax incentive bill, denies all allegations and has filed counterclaims against both plaintiffs. The legal troubles highlight growing pains in the U.S. crypto…

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Crypto Regulator Adrienne Harris Resigns as Head of DYDFS

In brief New York Department of Financial Services Superintendent Adrienne Harris is leaving her position in October. Under her tenure, NYDFS became the first American regulatory body to provide guidance on stablecoins. Kaitlin Aslow, who is at the NYDFS now, will take over as superintendent after serving at the Federal Reserve and the Financial Health…

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Telegram Founder Alleges French Role in Moldova Vote Censorship

In brief Telegram founder Pavel Durov said French intelligence sought the removal of opposition channels ahead of Moldova’s 2024 election. His allegations come as Moldova’s pro-European party leads in a new parliamentary vote marked by claims of Russian interference. The dispute underscores rising state pressure on digital privacy platforms, from messaging apps to crypto networks.…

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Circle Mulls Reversible USDC Stablecoin Transactions in Push for TradFi Adoption

In brief A Circle executive said the company is considering whether to enable reversible USDC transactions. The move would potentially boost the usefulness of stablecoins by traditional finance players. However, it also goes against the crypto ethos of immutability. Publicly traded stablecoin issuer Circle is exploring the possibility of reversible transactions involving its dollar-backed stablecoin,…