• Coinbase and Circle announced that Centre — the consortium originally responsible for the USDC stablecoin — will be dissolved due to changing regulatory conditions.
• USDC will instead be governed and operated in-house by Circle going forward, streamlining operations and governance.
• The two companies also said that USDC will be introduced to six more blockchains this fall.

Coinbase and Circle Dissolve Centre Consortium

Coinbase and Circle recently announced the dissolution of Centre, the consortium originally responsible for their USDC stablecoin. This decision was made due to changing regulatory conditions, which made it no longer necessary for Centre’s joint self-management of USDC.

USDC To Be Governed In-House By Circle

Going forward, USDC will instead be governed and operated in-house by Circle. This approach is expected to streamline operations and governance as Circle will handle all related aspects such as issuing the coin, holding smart contract keys, and complying with relevant laws.

USDC To Be Introduced To Six More Blockchains

In addition to dissolving Centre, Coinbase and Circle also revealed that they plan to introduce USDC to six more blockchains this coming fall. They haven’t specified which blockchains these are but stated that they “will continue expanding its network of supported public chains over time” while working on “building out infrastructure necessary for scaling up usage of digital dollars globally”.

SEC Charges Titan Global Capital Management For Misleading Performance Metrics

In other news relating to cryptocurrency regulations, the U.S SEC recently charged Titan Global Capital Management for ‘misleading’ performance metrics related to its crypto funds. This action has been taken against numerous other firms in recent years given crypto’s growing popularity among investors worldwide who need assurance that their investments are safe from fraudsters or false promises from firms offering high returns without disclosing any risks or fees associated with them.

Rep Maxine Waters Criticizes PayPal’s Stablecoin And Demands Regulation On Par With Financial Institutions

Lastly, Rep Maxine Waters criticized PayPal’s stablecoin initiative last week demanding that it should face regulation on par with financial institutions like banks due its potential threat on people’s privacy if left unregulated along with providing an easy way for criminals launder money through cryptocurrencies unseen by authorities if not properly monitored or tracked down.