The Financial Accounting Standards Board, a nonprofit that governs accounting practices, proposed that certain stablecoins should fit the bill as cash-like.
Source: CoinDesk
Chairman Tom Lee said easing financial conditions could support crypto, even as the CLARITY Act failed to reach a Senate vote before the August recess.
Dogecoin dropped 4.5% and ether 2.5%, leading a broad but shallow retreat across the majors, though most remain higher on the week ahead of next week’s Fed meeting.
The blockchain developer will continue operating under court supervision as it restructures following a market-making scandal, a co-founder’s suspension, and exchange delistings that rocked the project.
