Stablecoin

With the CLARITY Act stalled in Congress and GENIUS implementation ongoing, experts are questioning how much of a threat the products pose to bank deposits and services.

Commodity Futures Trading Commission Chair Michael Selig said the agency is exploring regulations that would establish clearer rules of the road for crypto exchanges and decentralized finance developers operating in the U.S.

President Trump lobbied again for Congress to pass the CLARITY crypto market structure bill, but paths toward this Congress doing so are treacherous with few legislative days left.

In a notice of proposed rulemaking announced Monday, the Treasury Department said it would extend GENIUS Act liability to exchanges, but raises new compliance questions for foreign-issued stablecoins.

World Liberty Financial, a digital asset venture co-founded by members of the Trump family, received conditional approval for a national trust bank charter.

American Banker's digital asset index found growth in digital assets is outpacing stablecoins.

The two banks are among the early bank adopters of a Swift standard that's designed to support near instant payments and serve as an alternative to stablecoins.

Senate Majority Leader John Thune, R-S.D., said the cryptocurrency market structure bill will be considered "first thing" after senators return from recess in September.

Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.

Having a trust bank will allow the stablecoin company to offer custody products and to have flexibility in where and how it issues its stablecoins.

Congress has little time to move on the CLARITY Act before it breaks for recess. But even that bill won't ensure the future for stablecoins.

If the Federal Reserve wants to keep the U.S. dollar competitive in the 21st century it must move boldly to declare dollar-backed stablecoins equivalent to other forms of money.

The remittance company and stablecoin payments platform Rain are launching Stablecard, a digital wallet and Visa secured credit card backed by Western Union's stablecoin, the U.S. Dollar Payment Token, or USDPT.

The card network closed on a $1.8 billion deal to acquire a company that connects digital currencies and traditional money, a key bridge as more non-crypto natives embrace digital assets.

The neobank is the latest fintech to file a de novo trust bank charter application ahead of the GENIUS Act formally taking effect.

As a vote to invoke cloture on the CLARITY Act looms in the Senate, lawmakers are considering how and whether to offer banks' preferred language on stablecoin yield on the Senate floor.

The lender reported a 40% increase in net revenue, but operating expenses and an uncertain interest rate environment held it back from increasing outlooks.

The technology giant's patents, which were built for banks and credit unions, will enhance the USDC issuer's intellectual property as more banks enter the stablecoin market.

For banks, getting ahead in the digital asset race may be less about picking a winner and more about playing the field.

A primary criticism of stablecoins harks back to the era of free banking, when individual banks printed their own notes. But that era of private money bears little resemblance to the modern realities of stablecoin issuance.