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
Tether is in talks for a multibillion-dollar equity raise valuing the firm at close to half a trillion. CEO states fundraising would significantly expand Tether’s operations across multiple business areas. USDT leads stablecoin market with US$172B supply; Cantor Fitzgerald supports in an advisory role. Tether is said to be holdingContinue Reading
Yield-bearing stablecoins generate income by investing reserves in interest-bearing assets like US Treasuries, unlike traditional static stablecoins. Australia’s forthcoming 2025 legislation will require full reserve backing, clear ownership disclosure, and guaranteed redemption rights for stablecoins. Australian companies like Catena Digital and AUDC are developing domestic stablecoins (AUDM and AUDD) withContinue Reading
Australia’s market regulator, ASIC, has granted class relief to secondary distributors of stablecoins issued by Australian Financial Services (AFS) licensed issuers, removing significant regulatory overhead for distributors. The relief currently only applies to one stablecoin, AUDM issued by Catena Digital, but ASIC said it may extend the relief as moreContinue Reading
A South Korean digital asset custody firm, BDACS, has launched KRW1, a stablecoin fully backed by the South Korean won, on the Avalanche blockchain. Each KRW1 token is backed one-to-one with reserves held at Woori Bank, one of the country’s largest commercial banks, with a real-time verification system to ensureContinue Reading
Bitwise has filed with the SEC for a new “Stablecoin & Tokenization ETF,” a fund designed to provide exposure to companies and assets in the growing stablecoin and tokenisation sectors. The fund’s index will be split into two equally weighted halves: an equity sleeve of companies involved in stablecoins andContinue Reading
