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Donald Trump, the U.S. President, announced through an official video released on the 12th that he will implement multiple cryptocurrency-related policies, including passing the 'GENIUS Bill' ahead of attending the Coinbase Crypto Summit in New York City. President Trump stated that the cryptocurrency policies he has implemented since taking office in January are not yet complete, and he is currently collaborating with the U.S. Congress to pass the GENIUS Bill.
2. Ripple-SEC Request Court Approval for $50 Million Settlement
Ripple and the U.S. Securities and Exchange Commission (SEC) submitted a settlement proposal to the U.S. court on the 12th, requesting approval of a $50 million fine to resolve their lawsuit. Previously, in August last year, the U.S. court imposed a $125 million fine on Ripple, and in May, both parties submitted a settlement proposal to reduce the fine to $50 million. The court has previously rejected their settlement proposal.
3. Shopify Launches USDC Payment Service
E-commerce payment service provider Shopify announced on the 12th that it will support Circle's USDC payment through collaboration with Coinbase.
4. Solana Open Interest Reaches 2-Year High
Solana (SOL) futures market open interest reached $7.4 billion on the 12th, hitting a two-year high.
5. PayPal Adds Stellar Blockchain to Stablecoin Distribution Network
PayPal announced through an official statement on the 12th that it will add the Stellar blockchain to the distribution network of its own stablecoin, PayPal USD (PYUSD). With the addition of the Stellar blockchain, PayPal USD has now expanded beyond Ethereum to its first external blockchain.
6. Brazil Imposes 17.5% Tax on Cryptocurrency Investments
Brazil announced the termination of tax exemptions for small cryptocurrency investors and will impose a flat 17.5% tax on all cryptocurrency investments. The Brazilian government issued Provisional Measure No. 1303 on the 12th, eliminating the tax exemption for cryptocurrencies under 35,000 reais (approximately 8.57 million won).
Reporter Kwon Seung-won ksw@blockstreet.co.kr
