US Marshals Chooses Coinbase Custody!🤯
Big crypto news! Significant updates for Coinbase and Circle USDC.
Hey Thinkers 💡
U.S. Marshals Service Selects Coinbase Prime for Digital Asset Management
Today, the U.S. Marshals Service (USMS), an agency within the U.S. Department of Justice responsible for asset forfeiture, announced that it has selected Coinbase Prime to provide custody and advanced trading services for its “Class 1” (large cap) digital assets portfolio. The USMS, which centrally manages these assets in support of federal law enforcement, conducted a competitive due diligence process to evaluate a range of solutions. Coinbase was ultimately chosen due to its strong track record and ability to securely provide institutional-grade crypto services at scale.
In a related development, there have been reports of the U.S. Government transferring Bitcoin to Coinbase wallets. This move highlights the growing reliance on Coinbase's secure and reliable services, despite the ongoing SEC lawsuit against Coinbase for its regular business activities. This situation underscores the contradiction of the SEC's actions, especially considering the SEC had previously greenlighted Coinbase to go public.
Circle Achieves Compliance with New EU Stablecoin Laws
Circle has announced that its stablecoins, USDC and EURC, are now available under the new EU stablecoin laws, marking Circle as the first global stablecoin issuer to comply with the Markets in Crypto-Assets (MiCA) regulations. Effective July 1st, Circle is now natively issuing both USDC and EURC to European customers.
This compliance represents a significant win for Circle, particularly as its largest competitor, Tether USDT, has not met the new regulatory standards. Consequently, many crypto exchanges have started delisting USDT in the European market, giving Circle a competitive edge in the region.
Last week I interviewed Circle co-founder and CEO Jeremy Allaire. We discussed the latest with USDC and the future of stablecoin adoption.
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Topics:
USDC.com launch and $15 Trillion in USDC volume since 2018
Stablecoin adoption outlook
EU Stablecoin regulations
Competitors Tether USDT, PayPal PYUSD, Ripple RLUSD and stablecoin market outlook
Circle’s partnership with BlackRock
Circle’s new banking partner distribution to avoid another Silicon Valley bank situation
Plans to expand USDC to other blockchains
Circle IPO
US Crypto Regulations
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