Expanding the stablecoin yield prohibition to include the application layer is an anti-competitive practice, industry advocacy groups say. The Blockchain Association, a non-profit crypto advocacy organization, wrote a letter to the US Senate Committee on Banking, signed by over 125 crypto industry groups and companies, opposing the ban on third-party service providers and platforms offering customer rewards to stablecoin holders. Expanding the prohibition on stablecoin issuers sharing yield directly with customers, outlined in the GENIUS stablecoin regulatory framework, to include third-party service providers stifles innovation and leads to “greater market concentration,” the letter said. The letter compared the rewards offered by crypto platforms to those offered by credit card companies, banks and other traditional payment providers. Read more
Expanding the stablecoin yield prohibition to include the application layer is an anti-competitive practice, industry advocacy groups say. The Blockchain Association, a non-profit crypto advocacy organization, wrote a letter to the US Senate Committee on Banking, signed by over 125 crypto industry groups and companies, opposing the ban on third-party service providers and platforms offering customer rewards to stablecoin holders. Expanding the prohibition on stablecoin issuers sharing yield directly with customers, outlined in the GENIUS stablecoin regulatory framework, to include third-party service providers stifles innovation and leads to “greater market concentration,” the letter said. The letter compared the rewards offered by crypto platforms to those offered by credit card companies, banks and other traditional payment providers. Read more
Hungary’s MVW Group on Friday announced the deal with E.ON fell through because the Romanian government did not support the takeover.
FDIC reveals a path for bank-issued stablecoins under the GENIUS Act as corporate BTC treasuries expand, Anchorage buys Securitize’s RIA arm and Bhutan taps reserves. Washington is inching closer to putting bank-issued stablecoins on a clearer regulatory track. This week, the Federal Deposit Insurance Corp. (FDIC), the US agency that oversees bank safety and insures deposits, laid out a proposed framework for how insured banks, via subsidiaries, could seek approval to issue payment stablecoins under the GENIUS Act, a move that could reshape who gets to mint digital dollars and under what rules. That same push toward institutionalization is also evident elsewhere in the crypto business landscape. Despite Bitcoin’s (BTC) lackluster performance, corporate treasuries are still in accumulation mode, with American Bitcoin vaulting past ProCap in the race to stack BTC. Read more
FDIC reveals a path for bank-issued stablecoins under the GENIUS Act as corporate BTC treasuries expand, Anchorage buys Securitize’s RIA arm and Bhutan taps reserves. Washington is inching closer to putting bank-issued stablecoins on a clearer regulatory track. This week, the Federal Deposit Insurance Corp. (FDIC), the US agency that oversees bank safety and insures deposits, laid out a proposed framework for how insured banks, via subsidiaries, could seek approval to issue payment stablecoins under the GENIUS Act, a move that could reshape who gets to mint digital dollars and under what rules. That same push toward institutionalization is also evident elsewhere in the crypto business landscape. Despite Bitcoin’s (BTC) lackluster performance, corporate treasuries are still in accumulation mode, with American Bitcoin vaulting past ProCap in the race to stack BTC. Read more
In its annual predictions report, Galaxy’s analysts said onchain dollar transfers could process more volume next year than the US bank system that handles payroll and bill payments. Stablecoins could process more transaction volume than the US Automated Clearing House system in 2026, as regulatory clarity and rising adoption expand their usage, according to a new forecast. Galaxy Research, the research arm of digital asset company Galaxy Digital, pointed to existing transaction data and regulatory developments to support its prediction, noting that “stablecoin transactions already eclipse major credit card networks such as Visa and now process roughly half the transaction volume of the automated clearing house (ACH) system.” Thad Pinakiewicz, vice president of research, said stablecoin supply has continued to grow at a 30%–40% compound annual growth rate, with transaction volumes rising alongside issuance. Galaxy also cited the expected implementation of definitions under the GENIUS Act in early 2026 as a fac...