Members of the Federal Reserve’s Community Depository Institutions Advisory Council (CDIAC) raised concerns that nonbank-issued stablecoins could accelerate deposit outflows from traditional banks and reduce credit availability to local communities.
According to the April 10 meeting records, council members expressed apprehension over pending legislation in Congress related to payment stablecoins and their regulatory treatment.
They compared the threat of deposit migration from banks to stablecoin platforms...
Virtuals has introduced a new staking mechanism for its native token VIRTUAL, replacing passive holding incentives with a vote-escrowed structure that grants users veVIRTUAL.
According to a May 13 post on X, veVIRTUAL holders will receive 20% of all Virgen Point emissions, which were previously distributed based on token holding. This move establishes veVIRTUAL as the primary mechanism for reward allocation, airdrop eligibility, and future...
