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South Korean regulators consider setting mandates for better transparency and accountability from exchanges and stablecoin issuers.
Toshi currently holds a market capitalization of $125.8 million, and saw over $46 million traded in the past 24 hours.
The project said it was 'making routine movements of our crypto holdings as part of regular treasury management.'
The team estimates it could earn approximately 27% APY, helping drive revenue to Sky and maximizing returns for Savings USDS depositors.
SEC Chair Gary Gensler said the agency has "never said" that bitcoin and Ethereum are securities during a Yahoo Finance interview.
Issuers like VanEck, 21Shares, Bitwise, WisdomTree and Canary Capital are all seeking to launch new altcoin ETFs later this year.
The crypto derivatives giant Deribit has attracted buyers for a potential acquisition, though the firm has yet to enter a sale, reports Bloomberg.
Blockchain analytics firm Elliptic argues the move is part of a strategy to avoid asset seizures and regulation.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Manuel Stotz's mandate will involve fostering additional growth in the United States for the blockchain closely tied to Telegram.