The U.S. Office of the Comptroller of the Currency denied London-based payments company Wise's application for a national trust bank charter, citing deficiencies. Wise plans to resubmit a new application under the GENIUS Act stablecoin framework.
Tassat has unveiled Project NENYA, a stablecoin reserve management platform it expects to launch in early 2027. The proposed platform is designed to connect regulated stablecoin issuers with regional and midsize U.S. banks and facilitate reserve allocation across cash deposits and tokenized high-quality liquid assets. The announcement follows the passage of the GENIUS Act.
The United States missed the July 18, 2026 deadline to implement its GENIUS Act while the CLARITY Act stalls, as Europe's MiCA regulations result in only 280 of approximately 2,800 crypto firms gaining authorization. South Africa's Reserve Bank continues developing regulations for its 8 million crypto traders.
