🌙 Senate Passes GENIUS Stablecoin Bill

The GENIUS Act establishes the first federal framework for dollar-pegged stablecoins.

Author

Mike Gavela
June 17, 2025

Crypto Roundup - June 17

U.S. crypto regulation takes a significant step forward as a bipartisan bill aims to clearly define stablecoin oversight, drawing attention from both banks and fintech firms. Meanwhile, JPMorgan expands its blockchain services by launching a USD deposit token on Coinbase’s Base network, highlighting growing institutional adoption of on-chain finance. In a parallel move, Coinbase has filed with the SEC to begin offering tokenized stock trading, signaling its intent to blend traditional equities with blockchain infrastructure.

Top Stories

  • Bipartisan stablecoin bill proposed to clarify federal and state regulatory roles, setting new requirements for issuers and reserves.

  • JPMorgan launches USD deposit token on Coinbase’s Base blockchain, marking a notable institutional leap into public blockchain use.

  • Coinbase seeks SEC approval to provide tokenized stock trading, aiming to bridge traditional securities with crypto markets.

TOP STORIES

Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win

This is the first legislative victory for the digital asset industry, which put around $250 million in the 2024 election cycle.

www.cnbc.com/2025/06/17/genius-stablecoin-bill-crypto.html

JPMorgan Introduces USD Deposit Token on Coinbase’s Base Blockchain

The bank’s JPMD is a permissioned USD deposit token enabling J.P. Morgan institutional clients to move money 24/7 on-chain.

www.coindesk.com/business/2025/06/17/jpmorgan-introduces-usd-deposit-token-on-coinbase-s-base-blockchain

Coinbase Seeks SEC Approval to Offer Tokenized Stock Trading

The move could pit the crypto exchange against Robinhood, Schwab and Kraken.

www.coindesk.com/business/2025/06/17/coinbase-seeks-sec-approval-to-offer-tokenized-stock-trading

FUNDRAISING

OTHER HEADLINES

ETH Exits Layer 2s as Native Token Prices Slip - "The Defiant"

Ethereum’s reserves on Layer 2 networks appear to be dropping quickly, with data showing that rollups like Optimism have seen their ETH holdings shrink by double-digit percentages over the past few months.

thedefiant.io/news/defi/eth-exits-layer-2s-as-native-token-prices-lose-investor-interest

Vietnam passes law recognizing crypto as property, new rules effective January 2026

Vietnam has approved a landmark bill legalizing digital assets as the country aims to better its global crypto allure and spark local economic growth.

www.theblock.co/post/358270/vietnam-passes-law-recognizing-crypto-as-property-new-rules-effective-january-2026

MetaPlanet has outperformed MicroStrategy by 317% this year

A $1,000 investment at the start of the year would have resulted in a $5,300 MetaPlanet position versus $1,270 for MicroStrategy.

protos.com/metaplanet-has-outperformed-microstrategy-by-317-this-year

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