Today in crypto, South Korea's Financial Services Commission (FSC) is set to investigate the fees charged by local cryptocurrency exchanges to reduce trading costs for users. The FSC plans to examine whether current fees are excessive compared to international standards and intends to survey the exchanges for insights on their fee structures. In the US, President Donald Trump has urged House lawmakers to pass a stablecoin bill, the GENIUS Act, quickly so he can sign it into law before a congressional break in August. Additionally, China's central bank is working towards expanding the global reach of its digital yuan by establishing an international operations center in Shanghai. The central bank aims to promote a multipolar currency system that counters the dominance of currencies like the US dollar and euro, as its head emphasized the need for resilient digital payment systems that are less susceptible to geopolitical strife.

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