Senator Warren says the GENIUS Act leaves substantial gaps in oversight of stablecoins, potentially endangering financial stability. She urges the Treasury to address corruption and conflicts of interest arising from Trump-era crypto ventures. Significant gaps in stablecoin regulation could expose consumers, taxpayers, and the wider financial system to potential abuse.Continue Reading
Wise has posted a London-based job opening for a digital-asset product lead focused on stablecoins, suggesting a possible move into crypto amid improving regulation. The position, shared by product director Matthew Salisbury, will explore integrating stablecoin and blockchain capabilities into Wise accounts. The shift comes as stablecoin technology gains mainstreamContinue Reading
Sony Bank, the banking division of electronics giant Sony, has applied to the US Office of the Comptroller of the Currency for a national trust charter. If approved, Sony Bank will be able to perform certain crypto banking activities in the US through its subsidiary Connectia Trust, including issuing aContinue Reading
Ant Group and JD.com must stop issuing stablecoins in Hong Kong following instructions from the Chinese government. Chinese officials view privately run stablecoins as a risk to the e-CNY, its central bank digital currency, which has struggled with broad adoption. Officials are concerned that stablecoin “over-issuance” without full reserve backingContinue Reading
Governments are not merely regulating digital assets. A more precise understanding is that they are redefining what forms of money are politically permissible. With stablecoins increasingly absorbed into state-aligned frameworks to reinforce U.S. Treasury demand, and crypto markets reshaped under regimes like the EU’s MiCA, the space for financial anonymityContinue Reading
Ripple Labs has acquired GTreasury, a treasury software program supplier, for US$1 billion, including company money, fiat, and danger tooling to its product line. The acquisition goals to combine GTreasury’s platform with Ripple’s funds and blockchain infrastructure to assault legacy rails with 24/7, near-instant cross-border settlement. GTreasury’s platform will enableContinue Reading
Two Texas brothers kidnapped a Minnesota family, stealing US$8 million (AU$12.23 million) in crypto. Victims were held for nine hours at gunpoint and forced to transfer cryptocurrency to the suspects. Authorities tracked and arrested the brothers in Texas; they face federal and state charges. Federal and state authorities have filedContinue Reading
Bitcoin fell 6% to US$109,277 as other major cryptocurrencies suffered even steeper losses. Market data reveals distribution currently leads over accumulation, with long-side liquidations rising and futures open interest falling from US$44.8 billion to US$42.7 billion. Long-term holders have realised profits on US$3.4 million BTC just as ETF inflows cooledContinue Reading
A report from crypto research firm, Chainalysis, has found that APAC is crypto’s fastest growing region, with on-chain value received surging over 300% since 2022. India was found to be the largest crypto market in APAC at US$338 billion on-chain value received, while Australia came in sixth at just overContinue Reading
Chinese energy services company Jiuzi Holdings approved a new treasury framework allowing up to US$1 billion of its reserves to be invested in cryptocurrencies, primarily Bitcoin. The investment strategy is designed for long-term storage of value to hedge against macroeconomic uncertainties, not for short-term trading or speculation. Chinese energy servicesContinue Reading
