World Business Report House passes historic cryptocurrency bill to regulate stablecoin
Jul 17, 2025
A historic bill regulating stablecoins has passed in the U.S., marking a significant shift towards mainstream cryptocurrency adoption. Meanwhile, Meta faces the financial music with an $8 billion settlement over data privacy issues, igniting discussions about Big Tech accountability. The retail sector shows promising recovery, despite challenges from tariffs and rising costs. On the sports front, Arsenal's record-breaking transfer of Olivia Smith highlights the booming financial landscape of women's football.
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Regulating Stablecoins Boosts Trust
- The Genius Act mandates stablecoins be backed by liquid reserves, increasing transparency and trust.
- This regulation positions the U.S. as a global leader in digital finance for cryptocurrencies.
Meta's Data Privacy Settlement
- Meta settled an $8 billion lawsuit over Facebook's Cambridge Analytica data breaches, but exact details remain undisclosed.
- The incident pushed Meta to improve data privacy, but future slip-ups may still occur due to their aggressive growth.
Privacy Cases vs Company Success
- Shareholder lawsuits over privacy violations often struggle because big companies like Facebook remain highly profitable.
- Regulatory penalties have a bigger impact on enforcing data privacy than shareholder claims.