The crypto world is buzzing with news today as we dive into recent developments impacting Bitcoin, blockchain technology, DeFi, NFTs, Web3, and the regulatory landscape. Leading US banking groups have called for action to close a loophole in the GENIUS Act that could allow stablecoin issuers to indirectly pay yields. Meanwhile, Terraform Labs co-founder Do Kwon has changed his plea to guilty on charges of wire fraud and conspiracy, highlighting the ongoing legal challenges surrounding the collapse of TerraUSD. On the positive side, Circle announced its upcoming layer-1 blockchain Arc and revealed a substantial revenue increase in Q2. 2023 promises exciting developments for the crypto industry.