In today's crypto news, significant developments have emerged. The German government's decision to sell its 50,000 Bitcoin stash in summer 2024 has resulted in a $2.3 billion loss, as the current value of the Bitcoin holdings has surged to $5.24 billion. The sale, conducted at an average price of $57,900 per Bitcoin, was executed when the price was considerably lower. Meanwhile, the US Senate has advanced the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) with a vote of 66-32. This legislation aims to regulate the stablecoin market amidst concerns related to President Donald Trump's crypto interests. Senators expressed varied views on the bill's implications, with some emphasizing the need for progress in the sector. Additionally, Ripple has launched cross-border payment solutions in the UAE through partnerships with Zand Bank and Mamo, which could enhance crypto adoption in the region. The UAE is also looking to introduce a digital version of its currency, further solidifying its position in the crypto landscape.

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