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Stripe To Support USDC Payments

Stripe will initially support USDC payments on Ethereum, Solana, and Polygon PoS.

Quick Take

  • Stripe to support USDC payments.

  • Consensys sues the SEC.

  • The FBI issues a PSA on crypto transmitters.

  • Fluidkey launches on Base.

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Stripe To Support USDC Payments

Stripe has unveiled plans to introduce support for global stablecoin payments, initially supporting USDC on Solana, Ethereum, and Polygon. During the Stripe Sessions annual conference, co-founder John Collison demonstrated the new feature, which allows connections to wallets like MetaMask, Coinbase Wallet, and Rainbow. Transactions in USDC will be settled onchain and will be automatically converted to fiat currency. Businesses interested in adopting crypto payments can join a waitlist to be early adopters of this feature, slated for release this summer. Stripe already supports fiat-to-USDC payouts.

Consensys Sues The SEC

Consensys, a key provider of Ethereum infrastructure, has filed a lawsuit against the U.S. Securities and Exchange Commission, citing the agency’s excessive regulatory overreach. The lawsuit challenges the SEC's inappropriate expansion into regulating Ethereum, asserting that Ethereum is a commodity, not a security. It also seeks to address the disruption caused by the SEC’s actions to those developing on Ethereum. The lawsuit argues that self-custody applications like MetaMask should not be classified as securities brokers. The SEC’s overregulation has stifled growth in blockchain. Coinbase has similarly filed lawsuits against the SEC over the past year.

FBI Warns Against Non-KYC Services

The FBI issued a public service announcement advising against the use of money-transmitting cryptocurrency services that are not registered as Money Services Businesses (MSB). The agency says that users of the unregistered services might face disruptions if the services are targeted and seized by law enforcement. The warning comes one day after the agency arrested developers behind a privacy-focused Bitcoin wallet. The FBI says users should verify whether a crypto service is registered with the Financial Crimes Enforcement Network (FinCEN) as an MSB and advised users to avoid platforms that do not implement know-your-customer (KYC) requirements.

Fluidkey Launches On Base

Fluidkey, a provider of transaction privacy tools, launched a beta version of its app on Base. Users can access the beta release between now and April 27th to register for a privacy-focused fkey.eth ENS subdomain. Fluidkey enhances privacy by automatically rerouting payments made to a private ENS to a new address under the user’s exclusive control. In addition to Base, Fluidkey is also live on Ethereum, Arbitrum, Polygon, and OP Mainnet.

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