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Senate Passes Stablecoin Bill In Major Win For Crypto Industry

1 month 3 weeks ago
The U.S. Senate has approved the GENIUS Act with a 68-30 final vote that "saw a huge surge of Democrats joining their Republican counterparts," reports CoinDesk. What the bill sets out to do is create the first federal regulatory framework for U.S. stablecoins, requiring issuers to maintain full 1:1 reserves in cash or Treasuries, adhere to regular audits and anti-money laundering rules, and gain regulatory approval -- all while allowing foreign stablecoin access under strict oversight rules. From the report: As written, the bill would set up guardrails around the approval and supervision of U.S. issuers of stablecoins, the dollar-based tokens such as the ones backed by Circle, Ripple and Tether. Firms making these digital assets available to U.S. users would have to meet stringent reserve demands, transparency requirements, money-laundering compliance and regulatory supervision that's also likely to include new capital rules. "This is a win for the U.S., a win for innovation and a monumental step towards appropriate regulation for digital assets in the United States," said Amanda Tuminelli, executive director and chief legal officer of the DeFi Education Fund, in a similar statement. [...] While this is the first significant crypto bill to clear the Senate, it's also the first time a stablecoin bill has passed either chamber, despite years of negotiation in the House Financial Services Committee that managed to produce other major crypto legislation in the previous congressional session. The destiny of the GENIUS Act is also tied closely to the House's own Digital Asset Market Clarity Act, the more sweeping crypto bill that would establish the legal footing of the wider U.S. crypto markets. The stablecoin effort is slightly ahead of the bigger task of the market structure bill, but the industry and their lawmaker allies argue that they're inextricably connected and need to become law together. So far, the Clarity Act has been cleared by the relevant House committees and awaits floor action.

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Trump Extends TikTok Deadline For Third Time

1 month 3 weeks ago
President Trump will extend the deadline for ByteDance to divest TikTok's U.S. operations by another 90 days, marking the third extension since taking office. The extension aims to prevent a TikTok ban while negotiations with potential buyers like Oracle and Project Liberty continue. CNBC reports: "President Trump will sign an additional Executive Order this week to keep TikTok up and running," White House Press Secretary Karoline Leavitt said in a statement. "As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure." ByteDance was nearing the deadline of June 19, to sell TikTok's U.S. operations in order to satisfy a national security law that the Supreme Court upheld just a few days before Trump's second presidential inauguration. Under the law, app store operators like Apple and Google and internet service providers would be penalized for supporting TikTok. ByteDance originally faced a Jan. 19 deadline to comply with the national security law, but Trump signed an executive order when he first took office that pushed the deadline to April 5. Trump extended the deadline for the second time a day before that April mark. Trump told NBC News in May that he would extend the TikTok deadline again if no deal was reached, and he reiterated his plans on Thursday.

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Why China is Giving Away Its Tech For Free

1 month 3 weeks ago
An anonymous reader shares a report: [...] the rise in China of open technology, which relies on transparency and decentralisation, is awkward for an authoritarian state. If the party's patience with open-source fades, and it decides to exert control, that could hinder both the course of innovation at home, and developers' ability to export their technology abroad. China's open-source movement first gained traction in the mid-2010s. Richard Lin, co-founder of Kaiyuanshe, a local open-source advocacy group, recalls that most of the early adopters were developers who simply wanted free software. That changed when they realised that contributing to open-source projects could improve their job prospects. Big firms soon followed, with companies like Huawei backing open-source work to attract talent and cut costs by sharing technology. Momentum gathered in 2019 when Huawei was, in effect, barred by America from using Android. That gave new urgency to efforts to cut reliance on Western technology. Open-source offered a faster way for Chinese tech firms to take existing code and build their own programs with help from the country's vast community of developers. In 2020 Huawei launched OpenHarmony, a family of open-source operating systems for smartphones and other devices. It also joined others, including Alibaba, Baidu and Tencent, to establish the OpenAtom Foundation, a body dedicated to open-source development. China quickly became not just a big contributor to open-source programs, but also an early adopter of software. JD.com, an e-commerce firm, was among the first to deploy Kubernetes. AI has lately given China's open-source movement a further boost. Chinese companies, and the government, see open models as the quickest way to narrow the gap with America. DeepSeek's models have generated the most interest, but Qwen, developed by Alibaba, is also highly rated, and Baidu has said it will soon open up the model behind its Ernie chatbot.

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KDE Plasma 6.4 Released

1 month 3 weeks ago
Longtime Slashdot reader jrepin writes: Plasma is a popular desktop (and mobile) environment for GNU/Linux and other UNIX-like operating systems. Among other things, it also powers the desktop mode of the Steam Deck gaming handheld. The KDE community today announced the latest release: Plasma 6.4. This fresh new release improves on nearly every front, with progress being made in accessibility, color rendering, tablet support, window management, and more. Plasma already offered virtual desktops and customizable tiles to help organize your windows and activities, and now it lets you choose a different configuration of tiles on each virtual desktop. The Wayland session brings some new accessibility features: you can now move the pointer using your keyboard's number pad keys, or use a three-finger touchpad pinch gesture to zoom in or out. Plasma file transfer notification now shows a speed graph, giving you a more visual idea of how fast the transfer is going and how long it will take to complete. When any applications are in full screen mode Plasma will now enter Do Not Disturb mode and only show urgent notifications. When you exit full-screen mode, you'll see a summary of any notifications you missed. Now, when an application tries to access the microphone and finds it muted, a notification will pop up. A new feature in the Application Launcher widget will place a green New! tag next to newly installed apps, so you can easily find where something you just installed lives in the menu. The Display and Monitor page in System Settings comes with a brand new HDR calibration wizard. Support for Extended Dynamic Range (a different kind of HDR) and P010 video color format has also been added. System Monitor now supports usage monitoring for AMD and Intel graphic cards -- it can even show the GPU usage on a per-process basis. Spectacle, the built-in app for taking screenshots and screen recordings, has a much-improved design and more streamlined functionality. The background of the desktop or window now darkens when an authentication dialog shows up, helping you locate and focus on the window asking for your password. There's a brand-new Animations page in System Settings that groups all the settings for purely visual animated effects into one place, making them easier to find and configure. Aurorae, a newly added SVG vector graphics theme engine, enhances KWin window decorations. You can read more about these and many other other features in the Plasma 6.4 announcement and complete changelog.

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