Exclusive: BSP Says Binance, BlockShoals Lack VASP Licenses; Coordinating With SEC on Sandbox

The Bangko Sentral ng Pilipinas (BSP) confirmed that neither Binance nor its local partner, BlockShoals Technologies Inc., holds a Certificate of Authority to operate as a Virtual Asset Service Provider (VASP). The central bank stated that participation in the Securities and Exchange Commission (SEC) regulatory sandbox does not exempt an entity from separate central bank…

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Coinbase Urges Congress to Treat Stablecoins Like Cash and Ease Crypto Tax Burdens

The exchange argued that tracking gains on stablecoin purchases creates administrative complexity without generating meaningful tax revenue. Coinbase’s vice president of tax, Lawrence Zlatkin, testified before the House Ways and Means Committee on June 9, asking lawmakers to stop requiring Americans to calculate capital gains every time they spend a stablecoin or pay a…

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Brad Garlinghouse endorses claim that Wall Street is copying XRP

Brad Garlinghouse has endorsed claims that Wall Street firms are increasingly pursuing the same institutional finance strategy that XRP was once criticized for supporting. Summary Brad Garlinghouse backed Hugo Philion’s claim that Wall Street and crypto firms are increasingly adopting XRP’s institutional finance vision. Philion said Ripple’s payments strategy has remained consistent despite years of…

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CISA Tells US Agencies to Fix Security Bugs in as Little as 3 Days Thanks to AI Threats

With new generations of AI models fueling both rapid software vulnerability discovery and the potential for faster exploitation by malicious hackers, the United States Cybersecurity and Infrastructure Security Agency released a new directive on Wednesday that requires more rapid and efficient software patching by federal civilian agencies. The “binding operational directive” (BOD) lays out a…

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