On April 2, the US House Financial Services Committee voted to advance the STABLE Act, a bill aimed at regulating stablecoins. With support from six Democrats, the bill will now progress to a full House vote. This legislation mandates transparency from issuers regarding their backing of tokens. Simultaneously, First Digital's stablecoin, FDUSD, has depegged amidst claims of insolvency from Justin Sun, the founder of Tron. First Digital insists it is fully solvent, stating its reserves are secure and redeemable at a 1:1 rate with the US dollar. They also intend to pursue legal action against Sun for these allegations. Additionally, investment firm VanEck has filed to register a Delaware trust for an exchange-traded fund (ETF) focused on Binance's BNB cryptocurrency. This move signals potential developments in the ETF market related to cryptocurrencies, particularly BNB.

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