Oct 2, 2026
The US Securities and Exchange Commission proposed a regulatory framework that would permit investment advisers and regulated funds to self-custody crypto assets under certain conditions, while also allowing the use of state trust companies as custodians.
Citigroup is expanding its partnership with Coinbase to allow the bank's institutional clients to accept stablecoin payments while settling in traditional fiat currency. The collaboration builds on their October 2025 partnership and enables merchants to process stablecoin transactions without directly holding crypto assets, with Coinbase handling the conversion infrastructure.
Brazil will mandate that regulated banks and exchanges report cryptocurrency transfers of $10,000 or more involving self-custody wallets beginning October 1, 2026, expanding anti-money laundering oversight across the country's $252.5 billion crypto market.
Federal prosecutors seized approximately $84.2 million from accounts of Capstone Ltd., a payments firm working on behalf of Tether and Bitfinex at offshore bank EQIBank. Tether stated its exposure represents less than 0.034% of group assets.
The Office of the Comptroller of the Currency granted stablecoin infrastructure provider Bastion conditional approval to convert its New York state trust charter into a national trust bank charter, adding federal regulatory oversight to its operations.
Traditional banks have doubled their presence on the European Union's MiCA register to approximately 80 institutions in less than three months, now representing nearly 23% of all listed crypto-asset service providers, up from roughly 17% earlier this year.
Ondo Finance's broker-dealer subsidiary Oasis Pro Markets has joined DTCC's Fund/SERV processing network, which handles over 85% of US mutual fund transactions. This marks the first time a tokenization company has connected to the traditional finance infrastructure, though neither company specified which Ondo products will use the network or when transactions will begin.
The Financial Conduct Authority published final guidance on which crypto activities require authorization and announced plans to consult on changes following Treasury proposals to exempt UK stablecoin payments. Meanwhile, UK banks continue restricting payments to cryptocurrency exchanges ahead of the FCA's new authorization gateway opening September 30.
South Korea's proposed cryptocurrency ownership regulations could create a governance conflict for Naver Financial's planned acquisition of Upbit operator Dunamu if the company later becomes classified as a holding company, with Fair Trade Act rules clashing with proposed ownership caps.
Coinbase is partnering with fintech company Moov to help community banks adopt stablecoin payment capabilities, as the cryptocurrency exchange positions stablecoin payments as a major revenue growth driver beyond traditional trading operations.
U.S. Bank, the fifth-largest commercial bank in the United States, successfully completed a live cross-border payment pilot using its proprietary dollar-backed USBDC stablecoin on the Stellar blockchain. The transaction moved funds between the bank's North American and European entities while remaining integrated with existing risk and compliance management systems.
Jack Dorsey's financial technology company Block has submitted an application to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, a federally regulated national trust bank that would provide custody and fiduciary services for Bitcoin and stablecoins.
Block Inc. has applied to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, an uninsured national trust bank that would provide a federal framework for custody of Bitcoin, stablecoins, and other digital assets.
The Office of the Comptroller of the Currency granted preliminary conditional approval to both Revolut and a16z-backed OpenReserve to establish national banks in the US. Both companies plan to offer cryptocurrency services, though additional approvals from FDIC and Federal Reserve are still required.
The U.S. Office of the Comptroller of the Currency granted preliminary approval to OpenReserve Bank, a blockchain-based banking venture backed by Andreessen Horowitz, to operate as a federally licensed national bank. The bank, founded by former MoneyLion executives, aims to connect traditional banking with blockchain infrastructure and digital asset services while operating 24/7.
Bitcoin Policy UK submitted evidence to Parliament criticizing British banks for applying blanket restrictions to lawful bitcoin activity. The policy organization made the announcement Friday regarding its submission to the Crypto committee.
Payward, the parent company of cryptocurrency exchange Kraken, is considering obtaining a full banking license outside the United States as it expands beyond crypto trading into broader financial services including asset management and banking.
The U.S. Treasury Department released a Notice of Proposed Rulemaking to implement the GENIUS Act, defining requirements for stablecoin issuers and exchanges, including federal licensing for payment stablecoin businesses and criminal penalties up to $1 million and five years in prison. The proposal opens a 60-day public comment period.
The U.S. Office of the Comptroller of the Currency granted preliminary conditional approval for a national trust bank charter to World Liberty Financial, a cryptocurrency venture partially owned by President Donald Trump and his family. The approval marks a significant step in the crypto firm's integration into the traditional American banking system.
Erebor Bank, the crypto-friendly tech-focused bank founded by Palmer Luckey, is close to securing approximately $1.5 billion in funding at an $8 billion pre-money valuation, according to sources familiar with the discussions.
The U.S. Office of the Comptroller of the Currency announced that digital asset companies conducting legally permissible activities can pursue national bank charters, marking a significant regulatory opening for the crypto industry. The move comes as traditional financial institutions increasingly adopt blockchain technology and tokenized assets, though the OCC recently rejected Dutch fintech Bunq's charter application.
The UK's Crypto and Digital Assets All-Party Parliamentary Group has written to chief executives of all major UK banks requesting they explain their policies on providing services to cryptocurrency companies, warning that service denials threaten industry growth.
Crypto market maker Wintermute's U.S. arm has registered with the SEC and FINRA as a broker-dealer, authorizing the firm to trade equities, options, and crypto exchange-traded products. The registration marks a significant expansion for the digital asset market maker into traditional securities markets.
South Korea's Financial Supervisory Service has delivered an inspection opinion to cryptocurrency exchange Bithumb following a major Bitcoin overpayment incident caused by a system error, initiating formal sanctions proceedings. Separately, Bithumb and KB Kookmin Bank are pursuing a one-year extension of their real-name account partnership agreement set to expire on August 24.
BNY, the largest custodian bank in the US, announced a partnership with Galaxy Digital to add cryptocurrency staking services to its digital asset custody platform, allowing institutional clients to earn staking rewards without moving assets off the platform, pending regulatory approval.
Hong Kong-licensed cryptocurrency exchange HashKey Exchange received approval from JPMorgan Chase to open a client money account, marking a significant banking relationship for the regulated digital asset platform. HashKey claims to be the first Asian licensed digital asset exchange to secure such approval from JPMorgan.
FINMA-regulated Swiss digital-asset bank AMINA is evaluating multiple paths to go public, including an IPO, SPAC merger, or reverse merger, with financial services firm Cantor Fitzgerald providing advisory services. The bank states its immediate priority remains securing strategic capital for growth.
Western Alliance Bank, a national commercial bank with over $90 billion in assets, has formally launched WA VenueX, an institutional financial platform designed to provide liquidity and banking services for blockchain-based digital assets and the on-chain economy.
A South Korean court ruled that cryptocurrency exchange services, including stablecoin conversions for foreign nationals, require a Virtual Asset Service Provider (VASP) license, marking the first judicial decision on stablecoin exchange legality. The ruling sided with the Financial Intelligence Unit (FIU) against DarwinKS, which had been operating under a regulatory sandbox.
Multiple cryptocurrency wallet providers are introducing Visa-branded payment cards that allow users to spend their digital assets in everyday transactions. BloFin Wallet announced a Visa card alongside perpetual contract trading features, while RedotPay launched an RLUSD card enabling 8 million users to spend against their XRP holdings through a margin loan structure.
Cryptocurrency exchange MEXC has hired Robert MacDonald, a former compliance executive at Bybit and Binance, as its Chief Compliance Officer. The appointment comes as MEXC expands into tokenized stocks and other regulated financial products.
Tiger Global led a $180 million Series B valuing Augustus at $1 billion, funding its bid to become a federally chartered stablecoin clearing bank, Augustus Bank, N.A., with OCC conditional approval secured in May 2026.
European Central Bank board member Piero Cipollone warned on Friday, July 17, 2026, that unchecked growth of stablecoins—particularly dollar-denominated tokens—poses a risk to European banks' retail deposit base, speaking at a gathering of Italian cooperative bankers.
Visa announced the Visa Stablecoin Platform, an infrastructure layer allowing banks and financial institutions to integrate stablecoin payments into its network serving over 200 million merchants. The move comes as Japan's JCB card network also partnered with Circle to test USDC stablecoin payments across 40 million merchant locations.
Visa announced the Visa Stablecoin Platform, an infrastructure layer allowing banks and financial institutions to integrate stablecoin payments into its network serving over 200 million merchants. The move comes as Japan's JCB card network also partnered with Circle to test USDC stablecoin payments across 40 million merchant locations.
Stablecoin issuer Circle received final regulatory approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, marking a landmark moment for cryptocurrency regulation. The company's shares jumped 7-8% following the announcement.
Stablecoin issuer Circle received final regulatory approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, marking a landmark moment for cryptocurrency regulation. The company's shares jumped 7-8% following the announcement.
Circle, issuer of USDC stablecoin, received final approval from the U.S. Office of the Comptroller of the Currency to operate as a bank, sending shares up 7%. Meanwhile, Ripple announced a multi-year sports marketing deal with the University of Kansas placing the XRP logo on athletic jerseys, as the company's prime brokerage cleared over $3 trillion annually.
Luxembourg's financial regulator granted Ripple preliminary approval for a Crypto Asset Service Provider (CASP) license under the EU's Markets in Crypto-Assets Regulation (MiCA), allowing the company to offer regulated payment services across all 30 EU countries ahead of the July 1 deadline.
Major U.S. banks are bracing for public scrutiny as a Trump administration banking regulator wraps up a review into whether financial institutions improperly closed customer accounts for political reasons, with results expected to name specific banks.
Better Home & Finance and Coinbase announced the funding of the first Fannie Mae-backed conventional mortgage collateralized by Bitcoin. A Michigan couple closed on the loan, with plans for broader rollout this summer.
JPMorgan Chase CEO Jamie Dimon sharply criticized Coinbase CEO Brian Armstrong and the crypto industry's Clarity Act legislation, prompting Senate Banking Subcommittee Chair Cynthia Lummis to call his remarks 'distasteful' and claim he hasn't read the bill. The clash highlights escalating tensions between traditional banking and crypto interests in Washington.
SoFi Technologies made its U.S. dollar-pegged stablecoin available directly within the SoFi app to its 14.7 million members, marking the first instance of a U.S. national bank-issued stablecoin embedded in a consumer banking app.
President Trump signed an executive order instructing the Federal Reserve and other regulators to review and modernize banking rules regarding payment system access for crypto and fintech firms within 120 days.
Zurich-based Sygnum Bank has connected its regulated cryptocurrency services directly to BancaStato's online banking system, enabling the Swiss cantonal bank's clients in Ticino to buy, hold, and sell digital assets including Bitcoin, Ethereum, Litecoin, and Solana through their existing banking interface.
Morgan Stanley debuted a government money market fund specifically designed for stablecoin issuers to hold reserves, requiring a minimum $10 million investment. The fund is aligned with GENIUS Act requirements and positions the Wall Street giant as a reserve manager for the stablecoin industry.
California Representatives Sam Liccardo and Young Kim introduced bipartisan legislation that would grant certain nonbank providers, including crypto firms, access to the Federal Reserve's payment infrastructure.
Senator Tillis delayed the stablecoin yield draft for the CLARITY Act amid fresh concerns from banking groups, with the latest text reportedly maintaining a ban on rewards for idle stablecoin holdings while other yield-related provisions remain under negotiation.
The Trump administration backed a proposal for stablecoin issuers to offer yield to investors, drawing pushback from the American Bankers Association which disputes White House claims that stablecoin yield doesn't threaten bank deposits.
White House Council of Economic Advisers released analysis finding that banning stablecoin yield products would boost community bank lending by only 0.02% while imposing significant costs on consumers, countering banking industry lobbying efforts in the CLARITY Act debate.
The Federal Deposit Insurance Corporation approved a proposed rule establishing federal oversight standards for stablecoin issuers, including reserve requirements limiting 40% of reserves at a single custodian. The proposal explicitly excludes stablecoins from deposit insurance protections.
International Monetary Fund report warns that instant settlement in tokenized finance removes time buffers needed to intervene during crises, comparing stablecoins to money market funds and calling for central bank oversight.
EDX Markets, backed by Citadel and Charles Schwab, applied for a national trust charter from the Office of the Comptroller of the Currency on April 1, 2026, to offer regulated custody and asset services separate from its trading operations. EDX joins at least eight other crypto firms pursuing similar federal banking charters.
Coinbase received conditional approval from the U.S. Office of the Comptroller of the Currency to operate as a national trust bank, enabling it to offer federally regulated crypto custody services. The approval moves Coinbase closer to operating as a federally regulated custodian pending final compliance review.
The OCC released a 376-page proposed rule on February 25, 2026, marking the first substantive federal regulatory framework for payment stablecoin issuance under the GENIUS Act. The proposal covers licensing, 100% reserve backing, a two-business-day redemption window, a $5M minimum capital floor, and a strict prohibition on paying yield to holders.