Today’s crypto market saw significant developments across blockchain payments, regulation, and digital asset legislation.
Leading the news, London-based blockchain payments firm Fnality secured $136 million in a Series C funding round. Major financial institutions like Bank of America, Citi, and WisdomTree guided this investment aimed at expanding Fnality’s blockchain settlement network and modernizing wholesale payments using blockchain technology linked to central bank reserves.
Fnality’s CEO, Michelle Neal, emphasized their systems offer round-the-clock payment rails, instant settlement, and improved liquidity. The fresh funding also supports their expansion into US dollar and euro markets, pending regulatory approvals.
US lawmakers have urged the Securities and Exchange Commission to expedite action on President Donald Trump’s executive order that promotes crypto investment in US 401(k) retirement plans. Nine members of Congress, including leaders from financial committees, called for swift assistance to adjust regulations to make alternative asset investments such as cryptocurrency more accessible to American retirement participants.
The letter highlights the goal to enable about 90 million Americans currently barred from investing in alternative assets to safely access these opportunities for securing their retirement.
Additionally, US Democratic senators have indicated readiness to collaborate with Republicans on legislation forming a unified digital asset market structure framework. In a recent statement, 12 Democrats expressed hopes for bipartisan cooperation ahead of a vote on a crypto market structure bill advanced by Republican leadership.
The Democrats outlined seven key pillars for the bill, focusing on fighting illicit activity and addressing gaps in the spot digital asset market. They also called for measures to prevent corruption and promote transparency in the crypto space.
Stay tuned for ongoing updates on cryptocurrency prices, blockchain advancements, DeFi, NFTs, Web3 innovation, and regulatory news to keep your finger on the pulse of this dynamic industry.
