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According to Cointelegraph, U.S. Representative Stephen Lynch questioned Federal Reserve Vice Chair Michelle Bowman during a Tuesday oversight hearing regarding her previous comments on digital assets. Lynch expressed concern over Bowman's encouragement for banks to fully engage with digital assets, probing the Federal Reserve's involvement in developing crypto frameworks. The inquiry highlighted Lynch's confusion over the definition of stablecoins. During the hearing, Lynch referenced Bowman's remarks from the Santander International Banking Conference in November, where she advocated for banks to engage with digital assets. However, Bowman clarified that her comments were directed towards digital assets broadly, not specifically cryptocurrencies. Lynch's questioning led to a discussion on the differences between digital assets and stablecoins. Bowman explained that Congress, through the GENIUS Act, had authorized the Federal Reserve to explore a regulatory framework for digital assets. She stated, "The GENIUS Act requires us to promulgate regulations to allow these types of activities." The hearing also addressed the stability of stablecoins, which are typically pegged to fiat currencies like the US dollar. While stablecoins are generally stable, there have been instances of depegging, such as the Terra algorithmic stablecoin crash in 2022. Despite these occurrences, most stablecoins maintain their peg with minimal fluctuation. Bowman had previously suggested that Federal Reserve staff should be allowed to hold small amounts of crypto or digital assets to better understand the technology. Travis Hill, acting chair of the Federal Deposit Insurance Corporation (FDIC), also testified at the hearing. The FDIC is among the agencies tasked with implementing the GENIUS Act, signed into law by U.S. President Donald Trump in July. Hill announced that the FDIC plans to propose a stablecoin framework later this month, which will outline requirements for supervising issuers. This development is part of a broader effort to establish regulatory clarity in the digital asset space.

Representative Stephen Lynch questioned Fed supervisor Michelle Bowman about her comments on digital assets at a November conference in Madrid. source: https://cointelegraph.com/news/stephen-lynch-crypto-stablecoins-hearing?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to ChainCatcher, the U.S. dollar index, which measures the dollar against six major currencies, fell by 0.06% on December 2, closing at 99.357 in the foreign exchange market. The euro rose to 1.1622 dollars from the previous day's 1.1608 dollars. The British pound decreased slightly to 1.3211 dollars from 1.3213 dollars. The dollar strengthened against the Japanese yen, reaching 155.88 yen compared to 155.48 yen the previous day. It weakened against the Swiss franc, falling to 0.8032 francs from 0.8044 francs. The dollar also declined against the Canadian dollar, trading at 1.3971 Canadian dollars, down from 1.3997 Canadian dollars. Similarly, it fell against the Swedish krona, reaching 9.4286 krona from 9.4589 krona.

Vanguard ends years of crypto resistance, allowing 50M+ brokerage clients to trade spot $BTC, $ETH, $XRP, and $SOL ETFs. source: https://www.bankless.com/read/news/vanguard-opens-to-btc-eth-xrp-sol-etfs

Analyst reiterates 90% upside for tanking crypto stock. source: https://www.thestreet.com/crypto/markets/analyst-predicts-90-surge-for-sinking-crypto-stock

null source: https://x.com/BTC_Archive/status/1995954757337289135

Strategy's 2X Bitcoin ETFs plunge over 80%, spotlighting the risks of leveraged single-stock trades like Tesla and Nvidia trackers. source: https://www.benzinga.com/etfs/specialty-etfs/25/12/49171531/cryptos-etf-time-bomb-explodes-strategys-2x-funds-crash-80-could-tesla-nvidia-bulls-be-next?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

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中国政法大学金融科技法治研究院院长赵炳昊指出，央行将稳定币明确归类为虚拟货币，这一界定并非将稳定币认定为刑法意义上的“违禁品”。

在经历过 10.11 的大清洗后，加密市场并没有迎来报复性反弹，反而在 11 月份又持续大跌，比特币跌破 9 万美元关口，以太坊也下探至 2800 美元左右。

今日晚间推荐阅读：1.四年周期失效 BTC价格明年有望创下新高；2.特朗普“钦点” 美联储下任主席是他？；3.以太坊的下一个十年；

LambdaClass 创始人 Fede 详解反脆弱性、1 Gigagas 扩容目标与 Lean Ethereum 愿景

未来可能不属于某种形式的货币，就像过去从未属于过那样。它可能属于从现金到数字货币的范围。

Valentino faced criticism after releasing an AI-generated advert for its DeVain handbag, with many calling the visuals unsettling and poorly made. The backlash highlights concerns that using AI in luxury campaigns may reduce human creativity and the brand’s artistic appeal.

如果更多公司采用这种模式，会员积分将会演变成比我们一直以来所接受的那些无用的积分更有用的东西。

波动起来，稳定币只剩两件事重要：能不能兑，兑得有多快。

South Korea’s government must submit a plan for a unified stablecoin framework by 10 December 2025, or lawmakers may push their own bill. Banks and regulators disagree over control, while private firms are already developing stablecoin projects amid the uncertainty.