CoinDesk Opinion: Stablecoins Scaled as Digital Cash, Not Productive Capital
CoinDesk's John O'Connor argues stablecoins have scaled as digital money rather than productive capital, raising questions about yield restrictions under the GENIUS Act.
CoinDesk's John O'Connor argues stablecoins have scaled as digital money rather than productive capital, raising questions about yield restrictions under the GENIUS Act.
Japan's three largest banks MUFG, SMBC, and Mizuho signed an MOU on June 10 to jointly issue a yen stablecoin targeting live transactions by March 2027.
BANCOMAT advances its EUR.BANK euro stablecoin project with nine major Italian banks. Technical pilot starts July 2026, full launch targeted for early 2027.
NYDFS proposes new stablecoin regulation aligning New York's 2022 framework with the federal GENIUS Act, adding custodian limits and enhanced risk controls.
BPI urges Treasury that state stablecoin rules must match federal GENIUS Act standards on reserves, capital, liquidity, and no-yield to prevent regulatory arbitrage.
Revolut's US bank plans FDIC-insured accounts, stablecoin services, multi-currency deposits, and crypto trading for launch in 2027 under an OCC charter.
JPMorgan CEO Jamie Dimon calls Coinbase's Brian Armstrong "full of sh*t" and warns the CLARITY Act is dead on arrival without major changes to bank protection rules.
Fed Governor Christopher Waller says dollar-backed stablecoins extend US monetary policy reach globally, speaking at the Dubrovnik Economics Conference.
The FDIC proposes AML and sanctions compliance standards for FDIC-supervised permitted payment stablecoin issuers under the GENIUS Act framework.
Aave Labs' Push subsidiaries receive UK FCA cryptoasset exchange registration, enabling zero-fee stablecoin on and off-ramping in the UK and EEA.
Tether and the Government of Georgia announce GEL₮, a Georgian Lari stablecoin, making Georgia one of the first nations to put its currency on blockchain rails.
IHC executes a $30M DDSC dirham stablecoin transaction on ADI Chain, the largest disclosed institutional stablecoin transfer in UAE history.
Senator Elizabeth Warren questions the OCC over crypto bank charter approvals, raising concerns with direct implications for stablecoin regulation in 2026.
The Bank of England is weighing alternatives to strict stablecoin holding limits after industry pushback, with draft UK rules due next month.
A GENIUS Act loophole lets stablecoin platforms offer deposit-like rewards, threatening to pull trillions from community banks and cut local lending capacity.
Delaware advances stablecoin regulation with SB 19, the Delaware Payment Stablecoin Act. New licensing framework aligns with federal GENIUS Act to attract crypto firms.