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A group of US senators led by Senate Banking Committee Chair Tim Scott, a South Carolina Republican, has introduced legislation to modernize the Bank Secrecy Act, the foundation of the country’s Anti-Money Laundering (AML) framework. The Bank Secrecy Act, passed in 1970, obliges banks, credit unions, and other financial institutions to help federal authorities detect and prevent financial crimes, including money laundering, terrorist financing and related illicit activity. The proposed legislation, known as the STREAMLINE Act, would raise the Bank Secrecy Act’s reporting thresholds for the first time since its creation more than 50 years ago.The bill increases the Currency Transaction Report…

Enough U.S. Senate Democrats are still showing they’re ready to approve a crypto market structure bill that the effort has legs, they expressed in a meeting with several crypto CEOs on Wednesday that focused on a way forward on U.S. crypto regulation.Digital assets business leaders had two meetings set for the same day, the first to discuss the next steps with Democrats, whose votes will be needed to lift any bill over the Senate’s 60-vote threshold. The second meeting was with those lawmakers’ Republican counterparts, who’ve been pushing a draft bill that’s their answer to the House of Representatives’ Digital…

In brief Sonnet BioTherapeutics is merging with Rorschach I LLC to create Hyperliquid Strategies Inc. HYPE rose nearly 7% as the broader crypto market traded lower. The merger signals institutional confidence and long-term demand for HYPE, Decrypt was told. Decentralized exchange Hyperliquid’s HYPE token is bucking the broader market trend, soaring while the rest of the crypto market is caught in Bitcoin’s dragnet.Hyperliquid is up nearly 7% over 24 hours while competitor BNB Chain’s Aster is down 7.6%, per CoinGecko data. HYPE’s out-of-pocket performance comes as a landmark corporate pivot is set to funnel significant capital into the Hyperliquid ecosystem, via…

When I worked at the Federal Reserve, we used to joke that our job was to protect the status quo. The Fed’s mandate has long included financial stability, certainly not financial disruption. But Fed Governor Chris Waller’s speech calling on Fed staff to research the creation of a new “payments account” for nonbank payment providers at this week’s Fed Payments Innovation Conference marks the first serious challenge to the assumption that only banks get to move money in America and who is allowed access to the Fed’s balance sheet.When I wrote in 2023 that “stablecoins are the battleground for the…

When I worked at the Federal Reserve, we used to joke that our job was to protect the status quo. The Fed’s mandate has long included financial stability, certainly not financial disruption. But Fed Governor Chris Waller’s speech calling on Fed staff to research the creation of a new “payments account” for nonbank payment providers at this week’s Fed Payments Innovation Conference marks the first serious challenge to the assumption that only banks get to move money in America and who is allowed access to the Fed’s balance sheet.When I wrote in 2023 that “stablecoins are the battleground for the…

Five days — 120 hours. That’s all that separates you from the most electric startup event of the year. TechCrunch Disrupt 2025 takes over San Francisco from October 27–29 — and these are your final days to lock in savings before prices rise at the door. Grab your pass now to save up to $444, or bring your plus-one, co-founder, or teammate and get 60% off their ticket. Register today and start the countdown to three days that could redefine your trajectory. Got a whole team? Explore our group rates with 15% to 30% savings. Image Credits:TechCrunch Don’t miss a…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure In a recent letter, multiple Senate Democrats have raised concerns about a potential breach of federal ethics laws due to the US Special Envoy to the Middle East’s failure to divest from his crypto asset holdings. US Senators Question Witkoff’s Crypto Holdings On Wednesday, eight Senate Democrats, led by Senator Adam Schiff, questioned the US Special Envoy for peace missions, Steve Witkoff, about his digital asset ownership and his links to the Trump Family crypto ventures. In a letter shared by Fortune, the US lawmakers raised concerns…

Coinbase Acquires Echo for $375M Boosting Crypto Investing Coinbase has made a significant move in the crypto space by acquiring Echo, a blockchain platform co-founded by prominent crypto figure Cobie (Jordan Fish), for a substantial $375 million. This acquisition marks a strategic expansion of Coinbase’s offerings, aiming to enhance its ecosystem with sophisticated tools for both institutional and retail investors. Echo’s platform allows startups to raise funds directly from their communities, facilitating both private and public token sales in a transparent and efficient manner. By integrating Echo’s functionalities, Coinbase is poised to strengthen its support for crypto projects and provide…

Ken Griffin, the billionaire founder and CEO of Citadel, disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a digital asset treasury company focused on accumulating Solana.According to a Schedule 13G filing with the US Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing about 4.5% of DeFi Development’s outstanding common stock.Separately, Citadel Advisors LLC and affiliated entities reported ownership of 800,000 DFDV shares, or about 2.7% of the company’s outstanding stock.Source: Marty PartyThe disclosure adds to mounting evidence of growing Wall Street engagement in digital assets. A recent a16z Crypto report highlighted accelerating institutional adoption,…

Nine Casascius coins were unsealed today, worth 9.5 BTC