In recent years, the rapid growth of stablecoins, digital assets pegged to traditional currencies, has prompted U.S. lawmakers to consider regulatory measures to ensure financial stability and consumer protection. The bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, introduced by Senators Kirsten Gillibrand, Bill Hagerty, Tim Scott, ...
South Korean digital banking leader KakaoBank is actively preparing to enter the stablecoin market, signaling a major strategic move as the country ushers in a new regulatory era for cryptocurrencies. The bank aims to offer services related to the issuance and custody of stablecoins, aligning with growing government support for ...
Shanghai officials are showing a growing interest in stablecoins despite China’s longstanding ban on cryptocurrencies, signaling a potential policy shift in the country’s approach to digital assets. The Shanghai State-owned Assets Supervision and Administration Commission (SASAC) recently convened to discuss strategic responses to stablecoins and digital currencies, highlighting a more ...
Tether, the world’s largest stablecoin issuer, has announced a strategic investment in Crystal Intelligence, a blockchain analytics firm specializing in advanced risk monitoring, fraud detection, and regulatory intelligence solutions. This move comes amid a sharp rise in cryptocurrency-related crime, with the FBI reporting that crypto scams in the United States ...
Ant Digits has officially dismissed recent speculation linking the company to a potential partnership with Hainan Huatie involving real-world assets (RWA) and stablecoins. In a statement issued this week, the fintech subsidiary of Ant Group clarified that while preliminary conversations between the two entities have taken place, no formal agreements, ...
Animoca Brands is actively pursuing a stablecoin issuance license through a newly established joint venture with Standard Chartered Bank and Hong Kong Telecom as Hong Kong prepares to roll out its Stablecoin Ordinance. This strategic collaboration positions the company to operate within the region’s upcoming regulatory framework, aligning with its ...
Hong Kong is advancing its stablecoin licensing framework, with new regulations set to take effect by August 1, 2025. Financial Secretary Paul Chan confirmed the timeline in a blog post published on June 15, aligning with earlier statements from the Hong Kong Special Administrative Region Government. The initiative forms a ...
Eddid Financial is ramping up efforts to advance stablecoin adoption following the Hong Kong Legislative Council’s recent approval of the Stablecoins Bill. This landmark legislation marks a significant step in the city’s commitment to regulating digital finance, establishing a formal licensing framework for fiat-referenced stablecoin (FRS) issuers. In response, Eddid ...
Shopify is set to roll out stablecoin payment support for USD Coin (USDC) later this month, marking its most significant step into crypto integration to date. As first reported by Fortune on June 12, the e-commerce giant will enable select U.S. merchants to accept USDC—Circle’s dollar-pegged stablecoin—shortly after Circle’s recent ...
PayPal is preparing to expand the utility of its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), by launching it on the Stellar blockchain network pending regulatory approval from the New York State Department of Financial Services (NYDFS). This strategic move aims to unlock broader real-world use cases by leveraging Stellar’s low-cost, ...
