THE LATEST CRYPTO NEWS FROM CNS Federal Reserve confirms | Crypto Never Sleeps Broad

THE LATEST CRYPTO NEWS FROM CNS

Federal Reserve confirms July launch for FedNow instant payment service

The United States Federal Reserve has confirmed a July launch date for its long-awaited instant payments system, seen by some as an alternative to central bank digital currencies and stablecoins.

The instant payment network will settle payments in seconds and can support transactions between consumers, merchants and banks. It does not rely on blockchain technology.

It’s a significant step for the government, as it is controlled by the Federal Reserve. Clearing House’s RTP network, which also offers real-time payments, is operated by a consortium of large banks.

https://cointelegraph.com/news/federal-reserve-confirms-july-launch-for-fednow-instant-payment-service


Formfunction to shutter marketplace amid Solana NFT slump

Formfunction, a Solana-based, nonfungible token (NFT) marketplace, has announced it is closing up shop after only 13 months of operation amid a slump in Solana NFT prices and trading volumes.

On March 15, Formfunction announced it was “shutting down” on March 29, saying it “cannot continue to operate.” The decision was reached after “much discussion and careful consideration, it said.

https://cointelegraph.com/news/formfunction-to-shutter-marketplace-amid-solana-nft-slump


Circle clears ‘substantially all’ minting and redemption backlog for USDC

Stablecoin issuer Circle says it has cleared “substantially all” of the redemption and minting requests for its stablecoin, USD Coin
USDC.

In a March 15 operational update, Circle said between the morning of March 13 to the close of banking business in the United States on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC.

https://cointelegraph.com/news/circle-clears-substantially-all-minting-and-redemption-backlog-for-usdc


OpenAI co-founder’s ‘World ID’ project launches, along with SDK waitlist

Crypto unicorn Worldcoin has launched a waitlist for its “World ID” software development kit (SDK), which will allow websites to verify the uniqueness and humanness of its users without storing their personal information.

The company has also launched the World ID software itself, allowing end users to obtain their “World ID” immediately, according to a March 14 announcement on the Worldcoin website.

Worldcoin is co-founded by Sam Altman, who also co-founded OpenAI.

https://cointelegraph.com/news/openai-co-founder-s-world-id-project-launches-along-with-sdk-waitlist


Gensler suggests staking token operators should ‘seek to come into compliance’

United States Securities and Exchange Commission Chair Gary Gensler has again suggested that proof-of-stake coins may be securities. He expressed his view on March 15 after a commission meeting on cybersecurity issues.

Gensler was asked by reporters about his reaction to statements made by Commodity Futures Trading Commission Chair Rostin Behnam at a Senate Agricultural Committee meeting last week that he felt stablecoin and Ether were “going to be commodities.”

https://cointelegraph.com/news/gensler-suggests-staking-token-operators-should-seek-to-come-into-compliance