Bankers sue to overturn OCC trust-bank rule used by crypto firms
The Independent Community Bankers of America sued the OCC in federal court in Washington on Oct. 2, two weeks after the agency approved Agora National Trust Bank, Catena Trust Bank and Bastion Platforms. American Banker reported that the complaint asked…
ESMA proposes ending EU custody and transfer services for non-compliant stablecoins
The European Securities and Markets Authority wants to extend Europe’s restrictions on non-compliant stablecoins beyond trading to the services that let customers keep and move them. If adopted as proposed, the change would remove the option of leaving…
Stablecoin issuers have replaced 40% of China’s lost US Treasury demand
Stablecoin issuers are emerging as a new source of demand for US government debt as foreign official holdings lose ground. Tether and Circle have increased their Treasury securities and repurchase-agreement holdings by about $200 billion over the past…
Standard Chartered says Ethena’s ENA could crush Bitcoin and Ethereum returns by 2028
Standard Chartered expects Ethena’s ENA token to rise about sevenfold by 2028, provided the protocol can rebuild its shrinking synthetic-dollar business. The bank initiated coverage of ENA with a $2 year-end 2028 target, up from about $0.28 currently. It…
Fed guarantees 2-day stablecoin payouts, but $76B remains blocked
The Federal Reserve’s stablecoin proposal would put a general two-business-day limit on redemption by issuers it supervises. For a customer holding stablecoins at an exchange, the first step is getting that venue to release or convert the balance.…
Aave’s live stock-token loans expose USDC lenders to a weekend price gap
Aave’s Base market has accepted seven Coinbase stock tokens as collateral for USDC loans since Sept. 25, giving the stablecoin suppliers who opt in exposure to a weekend pricing gap. Aave Labs said on Sept. 25 that its V4 Equities Hub was…
An $84 million US asset seizure just sparked a massive question for Tether
Tether has disclosed exposure to EQIBank as the bank fights a US seizure involving payment processor Capstone Limited, raising a question about access to assets that might back USDT. On Sept. 25, the stablecoin issuer told PYMNTS the exposure was less…
Fed proposed stablecoin rule could trigger a 48-hour liquidation run
The Federal Reserve’s proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours. An issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit…
Why TRON’s $30 trillion lifetime volume could become a trap
TRON has surpassed $30 trillion in lifetime transaction volume as its USDT-heavy network pushes deeper into payments and regulated finance. More than $94 billion of Tether’s USDT now circulates on TRON, the largest supply on any blockchain, TRON DAO said…
Circle launches 24/7 stablecoin FX engine as it chases a slice of the $10 trillion currency market
Circle has switched on 24-hour stablecoin foreign-exchange settlement on Arc, targeting a global FX market that moves nearly $10 trillion daily. The service, called StableFX, allows screened businesses to request competing quotes from multiple liquidity…