Coinbase advocates that non issuers should be allowed to pay stablecoin interest, sparking heated discussions about President Trump's GENIUS bill. Meanwhile, banking groups are urging the US Treasury Department to completely ban stablecoin income payments. （Cointelegraph）

[Circle Submits Comment Letter Suggesting Improvements to the Regulatory Framework of the 'GENIUS Act'] On November 6, Circle submitted a comment letter to the U.S. Department of the Treasury regarding the implementation of the 'GENIUS Act,' recommending the establishment of a comprehensive regulatory framework for stablecoins to protect consumer rights, ensure fair market competition, and promote global interoperability. Circle emphasized that rule-making should reinforce Congressional intent, provide clear regulations for issuers accessing the U.S. market, and offer transparent and easily understandable financial products and services to the American public. Circle proposed policy principles including the protection of customer funds, achieving interoperability, unifying activity rules, maintaining competitive balance, clarifying consequences, and formulating contingency plans.

[USDC Treasury Mints 50 Million USDC on Ethereum] Whale Alert monitoring shows that USDC Treasury has minted 50 million USDC on the Ethereum blockchain.

[Federal Reserve's Goolsbee: Lack of Reliable Inflation Data Calls for Caution on Rate Cuts] On November 6, Federal Reserve's Goolsbee stated that the lack of official inflation data during the government shutdown has made him cautious about further rate cuts. He noted that the Federal Reserve can still access labor market information through private data, including the Chicago Fed's biweekly unemployment rate estimates. The latest data shows that the unemployment rate in October may have risen to 4.4%, the highest level in four years, though the labor market remains relatively stable. Goolsbee emphasized that alternative sources of inflation data are limited, and pre-shutdown government statistics indicated signs of inflation rebounding, which further prompts him to remain cautious on the issue of early rate cuts.

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