In a significant advancement for cryptocurrency regulation, the U.S. Senate has approved the bipartisan GENIUS Act with a vote of 68-30, thereby establishing the inaugural federal regulatory framework for stablecoins, which are digital assets linked to the U.S. dollar. The legislation mandates that issuers must support their tokens with liquid assets such as Treasury bills [...]
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A 134-Year-Old American Furniture Chain Closing Down All 553 Stores
Furniture retailer Conn’s filed for bankruptcy and is shutting down outlets nationwide after experiencing a slowdown in recent years that negatively affected the firm’s sales and liquidity. The Chapter 11 bankruptcy was filed on July 23 in the U.S. Bankruptcy Court for the Southern District of Texas. Founded in 1890, Conn’s operates 553 retail stores [...]
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