Circle CEO Calls for U.S. Oversight of Tether's USDT

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📈 Preview On Today’s News:

1. - Circle CEO Calls for U.S. Oversight of Tether's USDT

2. - South Korea Suspends Upbit for Compliance Violations 

3. - Vitalik Buterin Calls for Research to Boost Ethereum Security with Poseidon

Keep reading below for more!

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Today’s News:

1)

Circle CEO Calls for U.S. Oversight of Tether's USDT

Jeremy Allaire, co-founder of Circle, urged U.S. regulatory oversight for stablecoin issuers, including Tether’s USDT, to ensure compliance with American laws. His comments followed a proposed U.S. bill aimed at regulating payment stablecoins. Tether faces mounting pressure amid accusations from its CEO of political and competitive attacks, alongside potential delistings in Europe due to non-compliance. Meanwhile, Circle, as the issuer of USDC, could benefit from regulatory clarity, enabling smoother integration with financial institutions.

• Circle's CEO advocates for U.S. oversight of stablecoins, targeting Tether’s USDT for regulatory compliance.

• Tether faces pressure from political and competitive forces, while Circle could gain from clearer U.S. regulations.

2)

South Korea Suspends Upbit for Compliance Violations 

South Korean regulators have imposed a three-month partial suspension on Upbit, a leading crypto exchange, due to compliance failures, including unregistered transactions and inadequate AML and KYC procedures. The suspension, effective from March 7 to June 6, 2025, restricts new users from transferring virtual assets while allowing existing users to continue trading. The decision follows ongoing regulatory scrutiny, including an antitrust investigation and prior KYC violations. In response, Upbit is enhancing its compliance measures as South Korea prepares to introduce a new crypto regulatory framework in late 2025.

• South Korean regulators suspended Upbit for three months due to compliance issues, including unregistered transactions and AML/KYC failures, affecting new user transfers.

• The suspension is part of increased regulatory scrutiny, including antitrust investigations and KYC violations, as South Korea moves to strengthen crypto regulations.

3)

Vitalik Buterin Calls for Research to Boost Ethereum Security with Poseidon

Ethereum co-founder Vitalik Buterin has invited researchers to participate in the Poseidon cryptographic analysis program to enhance Ethereum's security and efficiency. The initiative aims to examine a new hash function optimized for zero-knowledge proof systems, potentially increasing scalability and privacy. However, community feedback has been mixed, with some experts, like Ye Zhang, highlighting concerns about the function's reliance on specific prime fields, which could limit flexibility and slow performance. The research program will continue until March 15, as Ethereum seeks a balanced approach to security, efficiency, and compatibility.

• Vitalik Buterin is encouraging research on the Poseidon hash function to improve Ethereum’s scalability and security, with a focus on zero-knowledge proof systems.

• Community reactions are divided, with concerns about Poseidon's dependency on specific prime fields and potential performance slowdowns. The research program runs until March 15.

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