SEC Commissioner Hester Peirce urged regulators to adopt zero-knowledge proof technology to allow cryptocurrency firms to conduct KYC checks while collecting less personal data. The proposal comes as federal agencies advance stablecoin regulation under the GENIUS Act.
The European Banking Authority has urged the European Commission to bring crypto lending and borrowing services under the EU's Markets in Crypto-Assets (MiCA) regulation. The EBA's recommendations include potential leverage caps, certification requirements for firms connecting users to DeFi lending platforms, and possible restrictions on facilitating lending with unauthorized stablecoins.
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 European Central Bank and EU central banks want Brussels to delete a MiCA rule requiring large stablecoin issuers to keep 60% of reserves in commercial banks, arguing the requirement could destabilize lenders and reduce liquidity management flexibility.
The Office of the Comptroller of the Currency has given preliminary conditional approval to both Catena and Agora to establish national trust banks. The proposed banks would custody and manage digital assets, stablecoins, fiat, and securities, pending fulfillment of capital, liquidity, and preopening requirements.
Brazil's central bank will bar virtual assets, including stablecoins, from settling a specific type of international payment flow through Resolution 561, effective October 1. The move affects the $1.1 trillion stablecoin market's access to regulated cross-border payment infrastructure.
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.
Thailand's Securities and Exchange Commission approved consultation principles that would cap daily stablecoin transfers at 5 million baht ($150,000) through licensed crypto platforms, with transfers only allowed to accounts verified as the customer's own.
Thailand's Securities and Exchange Commission has proposed regulations that would require licensed crypto firms to only accept stablecoin deposits and withdrawals through accounts verified in the customer's own name, effectively blocking transfers to other people's wallets. The draft rules also set a daily transaction cap of 5 million baht ($151,000).
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.
South Korea's National Assembly Budget Office has found that won-denominated stablecoins could save the country's merchants up to $3.8 billion per year in payment processing costs, primarily by reducing credit card transaction fees.
Research from the Bank of Korea shows that dollar-backed stablecoins can put downward pressure on national currencies when exchanges offer direct fiat trading pairs, with Binance pairings reducing local stablecoin premiums by 0.33 to 0.38 percentage points.
House Republican leaders canceled eight voting days in September, including the final two weeks of the session, leaving little time for consideration of the CLARITY Act before the chamber leaves Washington on Sept. 17. The Senate is scheduled to hold its first vote on the crypto legislation on Sept. 15.
A court has given the defendant in TrueUSD's $456 million case days to disclose the sources of their legal payments through an affidavit, with potential sanctions requiring a further Techteryx application if they fail to comply.
Wyoming's Stable Token Commission integrated Chainlink Proof of Reserve for its state-issued FRNT stablecoin on September 2, 2026, enabling near-real-time onchain verification of reserves. The total FRNT supply currently stands at approximately 968,000 tokens, significantly below initial projections.
Two Thai businessmen filed a lawsuit in New York federal court claiming Tether froze $42.4 million in USDT across 10 Ethereum addresses at an informal US law enforcement request, more than three months before a seizure warrant was issued. The plaintiffs allege the freeze was unlawful.
A consortium of 21 financial institutions including Goldman Sachs, Bank of America, Citi, Deutsche Bank, Fidelity, and WisdomTree plans to create a company in 2026 to issue a dollar-pegged cryptocurrency in the first half of 2027. The group has more than doubled in size since October, though the token has no name or chosen blockchain yet.
Twenty-one major financial institutions including Goldman Sachs, Bank of America, Citi and Deutsche Bank announced plans to form a company this year to issue a dollar-backed stablecoin, with a market launch targeted for 2027.
The U.S. Senate returns from recess on September 14 with 14 working days to advance the Digital Asset Market Clarity Act before midterm campaigning halts legislative activity. The bill would establish a regulatory framework for crypto assets, with major banks supporting clear rules while raising concerns about stablecoin provisions.
The Monetary Authority of Singapore is seeking public feedback on proposed legislative changes to the Payment Services Act 2019 that would formalize its stablecoin framework into law, introduce rules for overseas issuers, and establish regulations for interest-bearing stablecoins.
Bank for International Settlements General Manager Pablo Hernández de Cos told the Federal Reserve's Jackson Hole Economic Policy Symposium on August 28 that stablecoins do not credibly function as a payment method at scale, while tokenized deposits offer a more compelling case for harnessing blockchain technology in the financial system.
U.S. and international banks are reconsidering their stance on stablecoins, with JPMorgan holding preliminary discussions about launching its own digital dollar and global banks exploring consortium approaches. The shift comes as banks face growing competition from crypto companies in the payments space.
South Korea's Shinhan Financial Group has signed a strategic agreement with Visa to test stablecoin issuance, remittances and redemptions using Visa's stablecoin platform, while also developing AI-powered payment models for the Korean market.
The American Bankers Association is lobbying for regulations requiring stablecoin users to open accounts before redemption and seeking changes to stablecoin reward provisions in the Clarity Act, citing concerns about community bank deposits despite evidence showing deposit growth.
The Blockchain Association filed a letter supporting proposed GENIUS Act regulations while asking five U.S. agencies to clarify that customer identification requirements should apply only to direct issuer relationships, not peer-to-peer transfers or secondary markets. The industry group argues this approach would reduce compliance costs for stablecoin issuers while maintaining regulatory oversight.
The Office of the Comptroller of the Currency is working to finalize rules by November to implement the GENIUS Act, the federal stablecoin framework signed into law by President Donald Trump. Comptroller Jonathan Gould announced the timeline after receiving industry feedback on the proposed regulatory framework.
Wyoming transferred its Frontier Stable Token (FRNT) from LayerZero to Chainlink's CCIP following a security review, marking the first time a U.S. state has switched blockchain infrastructure providers for a stablecoin.
Visa is searching for a new stablecoin settlement and over-the-counter partner with cryptocurrency exchange licenses in the U.S., Canada, UK, and Singapore following Mastercard's acquisition of BVNK, the payments firm Visa had previously been working with.
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.
Stablecoin issuer Tether announced that KPMG U.S. completed its first independent financial audit, issuing an unqualified opinion on the company's 2025 financial statements. The audit, which Tether called the 'largest inaugural financial audit in history,' marks a significant milestone after years of scrutiny and promises to obtain a Big Four accounting firm review.
Citigroup CEO Jane Fraser expressed support for the Clarity Act, calling it a positive outcome for the financial system, even as banks continue lobbying to change provisions that would ban yields on stablecoin holdings while allowing transaction-based returns.
Dinaro d.o.o., a Slovenian electronic money institution licensed by the Bank of Slovenia, has been added to the European Union's Markets in Crypto-Assets Regulation (MiCA) register of electronic money token (EMT) issuers, marking Slovenia's first appearance on the list.
Anchorpoint Financial, a joint venture between Standard Chartered, Animoca Brands, and HKT, has launched beta access for its HKDAP stablecoin pegged to the Hong Kong dollar. The launch marks the expansion of Hong Kong's stablecoin ecosystem a year after the city implemented its stablecoin licensing law.
Anchorpoint Financial, a joint venture between Standard Chartered, Animoca Brands, and HKT, has launched beta access for its HKDAP stablecoin pegged to the Hong Kong dollar. The launch marks the expansion of Hong Kong's stablecoin ecosystem a year after the city implemented its stablecoin licensing law.
South Africa's draft Crypto Assets Manual proposes banning corporate cross-border stablecoin transactions and treating transfers to self-custody wallets as capital outflows, prompting warnings from industry leaders like VALR CEO Farzam Ehsani that the rules could drive crypto activity offshore and reduce regulatory oversight.
Tether, the company behind the world's most widely used cryptocurrency token, has reached an estimated valuation of $200 billion, making it one of the most valuable private companies globally despite operating with limited public transparency.
JPYC Inc., issuer of Japan's yen-pegged stablecoin, has raised 6 billion yen ($38 million) in an extended Series B funding round, with logistics company AZ-COM Maruwa Holdings contributing 1 billion yen. The funds will be used to expand JPYC's payment network and Web3 financial ecosystem.
The Bank of Italy conducted a study testing 200 USDC remittances across 10 international payment corridors, finding that total costs varied widely from 0.3% to nearly 9% of the transaction amount, challenging assumptions that stablecoins are necessarily cheaper for cross-border payments.
Tether posted $1.5 billion in net operating profit for Q2 2026, down from $4.9 billion in Q2 2025. The company's excess reserves dropped from $8.23 billion to $4.11 billion, while USDT supply reached $184.6 billion and gold holdings increased by 14 tons.
Circle secured a limited-purpose trust charter from the New York Department of Financial Services, allowing it to operate Circle Internet Trust Company and adding state-level oversight to its existing federal OCC national trust approval.
A July 2026 study by Banca d'Italia testing 200 USDC transfers across 10 international payment corridors found total costs ranged from 0.3% to nearly 9%, questioning whether stablecoins consistently offer cheaper or faster remittances than traditional payment rails.
South Korea's Financial Services Commission is accelerating cryptocurrency regulation by proposing a consolidated Framework Act on Digital Assets that includes stablecoin rules, aiming to streamline the country's crypto regulatory framework.
Visa presented its most detailed stablecoin roadmap to date during its fiscal third-quarter earnings call on July 28, 2026, outlining plans to integrate stablecoin capabilities across its payment network. The company reported $11.6 billion in Q3 revenue.
The Bank Policy Institute and The Clearing House Association filed joint comment letters expressing general support for the Office of the Comptroller of the Currency's proposed payment stablecoin requirements while calling for regulatory coordination.
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.
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.
Ripple has launched Ripple Mint, an enterprise platform that enables institutional customers to mint, redeem, bridge, and manage Ripple USD (RLUSD) stablecoin through web interface and API integration. The platform provides multichain bridging capabilities and automated management tools for institutional operations.
Goldman Sachs CEO David Solomon endorsed the Digital Asset Market Clarity Act on July 23, splitting from major banking trade groups who oppose the bill's stablecoin provisions. Solomon argued the legislation would provide needed regulatory certainty.
USDC issuer Circle Internet Group has signed separate strategic agreements with South Korea's major fintech platforms Kakao Group and Viva Republica (Toss operator) to explore stablecoin payment infrastructure, remittances, and tokenized finance as the country works to establish a digital asset regulatory 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 BIS published research finding that USD-pegged stablecoins like USDT and USDC are largely unaffected by capital controls across 130+ economies, creating new channels for digital dollarization that challenge traditional monetary policy tools in emerging markets.
U.S. regulators reached the GENIUS Act's one-year rulemaking deadline on Saturday without issuing the final regulations needed to fully implement the federal stablecoin framework signed into law by President Trump in July 2025.
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.
Major investment banks including Mizuho and JPMorgan have downgraded Circle's stock and lowered earnings estimates, citing mounting competitive pressure from traditional banks developing shared stablecoin infrastructure and concerns over the CLARITY Act's regulatory framework.
Lawson, Japan's third-largest convenience store chain, will test accepting the JPYC yen-pegged stablecoin at its Tokyo Takanawa Gateway City location beginning early August, with merchant services provided by Netstars.
South Korea's government has reaffirmed its commitment to expanding its blockchain and digital asset sector in the second half of 2026, announcing plans for stablecoin legislation, crypto ETF frameworks, and a 2027 pilot program linking tokenized government bonds to its institutional CBDC infrastructure. The push comes as crypto trading volumes hit a two-year low amid broader market challenges.
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.
A consortium of over 140 major financial and technology companies including Visa, Stripe, Mastercard, BlackRock, Coinbase, and Bank of New York Mellon launched Open USD (OUSD), a new stablecoin that shares reserve earnings with participants. The announcement caused Circle Internet Group shares to tumble 15% as the initiative directly challenges existing stablecoin leaders.
The Independent Community Bankers of America, representing thousands of small and mid-sized U.S. banks, is launching an advertising campaign warning of digital asset risks and targeting specific stablecoin reward language in the Clarity Act, escalating tensions between traditional banking and cryptocurrency sectors.
Ripple and Bitso are expanding their payments partnership by integrating Bitso's Mexican peso-backed stablecoin MXNB onto the XRP Ledger's decentralized exchange, targeting regulated liquidity for cross-border settlement in the US-Mexico corridor.
New York's Department of Financial Services has published draft stablecoin regulations to harmonize the state's existing framework with the federal GENIUS Act signed in July 2025. The proposed rules introduce new reserve limits, operational safeguards, and updated oversight requirements for USD-backed payment stablecoins, with public comments open until June 22.
Crypto venture firm Paradigm and DeFi advocacy group Hyperliquid Policy Center jointly submitted a letter to U.S. Treasury urging FinCEN and OFAC to narrow proposed anti-money laundering compliance rules for stablecoins, warning that overly broad obligations could negatively impact decentralized finance protocols.
Senator Elizabeth Warren demanded records from the CFTC regarding staff departures and oversight of prediction markets and crypto firms, calling the agency 'steamrolled,' as the House Ways and Means Committee separately weighs multiple crypto tax relief bills including provisions for stablecoins.
The U.S. Senate is moving forward with the Clarity Act, which blocks CBDCs while providing regulatory framework for stablecoins, as DTCC simultaneously announces integration of its tokenized securities platform with the Stellar blockchain, marking institutional adoption of public blockchains.
The US Senate is advancing stablecoin legislation through the Clarity Act while blocking CBDCs, as Andreessen Horowitz urges the Treasury to establish uniform stablecoin regulations under the GENIUS Act to preserve token fungibility and enable payment innovation.
A House of Lords committee called on the Bank of England to reconsider proposed stablecoin restrictions that would cap individual transactions at £20,000 and business transactions at £10 million, warning the rules could stifle development of a sterling-backed stablecoin market.
Japan's Liberal Democratic Party panel proposed creating a legal framework for cryptocurrency ETF trading and promoting yen-denominated stablecoins for settlement in Asia, in recommendations submitted to the finance minister.
European Central Bank board member Isabel Schnabel stated that increased stablecoin use could reinforce the dollar's global dominance, undermine some nations' monetary policy autonomy, and diminish the role of the euro.
Mastercard received a BitLicense from the New York State Department of Financial Services, enabling the payments giant to conduct digital asset activities including stablecoin and blockchain-based settlement infrastructure under one of the strictest regulatory frameworks in the U.S.
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.
Tether announced plans to launch GEL₮, a stablecoin pegged to Georgia's national currency, in partnership with the Georgian government. This represents one of the first cases of a sovereign government directly partnering with a stablecoin issuer to digitize its national currency on blockchain infrastructure.
Bank of England Governor Andrew Bailey stated he expects a regulatory conflict with the United States over stablecoin treatment, flagging concerns about run risk for the UK as U.S. lawmakers advance their own framework.
The Senate Banking Committee has set May 14, 2026 as the date to mark up the Digital Asset Market Clarity Act, a major cryptocurrency market structure bill, despite resistance from banking lobby groups who rejected a compromise on stablecoin yield provisions.
Anchorage Digital CEO Nathan McCauley revealed that as many as 20 financial institutions and large tech companies are waiting to issue their own stablecoins with the U.S.-regulated custody firm, indicating significant institutional interest in stablecoin issuance.
The Senate's crypto market structure bill, known as the CLARITY Act, faces mounting pressure to advance after months of delays caused by negotiations over stablecoin yield provisions. Senator Thom Tillis signals readiness to move forward to hearings as available Senate floor time diminishes and political uncertainty around leadership grows.
BlackRock, the world's largest asset manager, submitted a comment letter opposing a potential 20% cap on tokenized reserve assets in the GENIUS Act, which would limit products like its BUIDL fund. The firm urged the OCC to drop the cap idea and expand eligible assets.
Coinbase and Senate leaders finalized a deal on stablecoin reward provisions, resolving a standoff with the banking lobby. The compromise prohibits rewards that mimic bank deposits while allowing 'bona fide' transactions, clearing a key obstacle for the CLARITY Act's advancement.
Stablecoin issuer Tether posted over $1 billion in Q1 profit and reached a record $8.23 billion reserve buffer, while announcing that its first full audit has begun. The company holds approximately $141 billion in U.S. Treasuries.
Canada's Bill C-25, the Strong and Free Elections Act, cleared second reading with Conservative support and heads to committee. The legislation would prohibit cryptocurrency contributions to political campaigns, even as the country expands oversight of stablecoins and digital asset markets.
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.
More than 100 cryptocurrency companies and industry organizations sent a letter to the US Senate Banking Committee urging action on the CLARITY Act market structure bill. The legislation faces mounting delays over stablecoin yield provisions, with limited floor time remaining in 2026.
