Stablecoins
U.S. Treasury Department proposes GENIUS Act stablecoin rule
The Treasury proposal would establish some of the core definitions and jurisdictions in the law Congress completed last year.
The stablecoin yield clash that won't go away has banks, crypto battling over tradition
The bankers want people kept in lower-yield deposits for the good of the financial system as it's existed for generations, and their argument is gaining ground.
The ABA's case that crypto could drain community banks
CoinDesk's The Policy Protocol hosts Rebecca Rettig and Renato Mariotti open on the stalled CLARITY Act and how crypto's newness in DC stacks up against TradFi's decades-old relationships. They also dig into two hot topics: Erebor raising $1.5 billion at a valuation near $9.5 billion, and FlightAware's short-lived trademark lawsuit against prediction market Kalshi. Then they sit down with Brooke Ybarra, Head of Innovation at the American Bankers Association, who breaks down the yield compromise on payment stablecoins, makes the ABA's case that stablecoin growth could pull deposits away from community banks and shrink local lending, and explains how banks of all sizes are already experimenting with tokenized money and tokenized deposits. Plus, Rebecca and Renato debrief on the bipartisan holdouts and name SEC Chair Paul Atkins as their Person of the Week. NOTE (Aug. 14, 09:00 ET): this episode was recorded before the SEC canceled the open meeting originally scheduled for Friday. - This episode is brought to you by RealFi, a smarter stablecoin, backed by real-world assets. Find out more at realfi.co. - To view the ABA's recommended changes to legislative text of the Clarity Act, please see their Joint State Association Letter to the Senate: https://www.aba.com/advocacy/policy-analysis/Joint-Letter-to-the-Senate-on-the-Clarity-Act
RedotPay said to put $1 billion U.S. IPO plan on hold: Bloomberg
A spokesperson for the stablecoin payments company declined to comment on any IPO plans.
Tether says it completed long-promised 'Big Four' audit of finances behind $180 billion USDT stablecoin
KPMG U.S. examined Tether's books and even counted its gold bars as the $180 billion USDT issuer said it completed its long-promised financial audit.
Miden bets on privacy stablecoins with introduction of USDCx
USDCx will let users transact without publicly exposing balances, counterparties or transaction histories, while allowing selective disclosure for compliance.
Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin
HashKey Exchange and OSL Group are now authorized distributors, enabling institutional and professional investors to mint and redeem HKDAP tokens.
Bank of England to test stablecoin, digital currency use in cross-border finance
The BOE-led Digital Pound Lab will test trade-finance interoperability, in which exporters receive stablecoins while importers settle in a potential digital pound.
MoneyGram expands on Solana with global crypto-to-cash service
Wallets and apps on Solana can now tap MoneyGram's global network to move between digital assets and local currencies.
Bitwise's Rasmussen: Circle is mispriced as stablecoins head toward trillions
Bitwise's Ryan Rasmussen says investors are underestimating Circle as stablecoins expand and the company builds out its payments infrastructure.
