Tag: Stablecoin

Bank Of England Sets 2026 Timeline For Final Stablecoin Rules

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The United Kingdom’s central bank is moving toward stablecoin regulation by publishing a consultation paper proposing a regulatory framework for the asset class. The Bank of England (BoE) on Monday released a proposed regulatory regime for sterling-denominated “systemic stablecoins,” or tokens it said are widely used in payments and therefore potentially pose risks to the UK financial stability. Under the proposal, the central bank would require stablecoin issuers to back at least 40% of their liabilities with unremunerated deposits at the BoE, while allowing up to 60% in short-term UK…

Korean Banks Team Up with Tech Firms Over Stablecoin Plans

Key Notes Korea’s top banks are partnering with Naver, Kakao, and Samsung to accelerate stablecoin development. Stablecoin transactions have already surpassed 60 trillion won despite unclear regulations. Financial regulators plan to introduce a stablecoin bill by the end of 2025. Leading South Korean banks and tech companies made it clear that they seek dominance in the stablecoin space. According to reports from The Korea Times, financial holding groups KB, Shinhan, Hana, and Woori are forming alliances with Naver, Kakao, and Samsung Electronics to accelerate stablecoin development and issuance. These collaborations…

Japan FSA backs major banks’ yen stablecoin initiative

The Japan Financial Services Agency (FSA) announced that it has launched an initiative to support the yen-based stablecoin joint venture launched by the country’s major banks. Summary Japan’s Financial Services Agency has launched the Payment Innovation Project to promote blockchain-based payment systems, beginning with a major stablecoin initiative launched by major banks like MUFG, SMBC and Mizuho. Japan’s FSA has been tightening its regulatory oversight of the crypto sector, proposing new rules on crypto lending and insider trading to enhance investor protection and market integrity. According to a recent press…

Pakistan Mulls Rupee-Backed Stablecoin as Experts Warn of $25B Loss

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Pakistan is considering launching a rupee-backed stablecoin, as experts warn that delays in regulating digital assets could cost the country up to $25 billion in lost economic opportunities. Speaking at the Sustainable Development Policy Institute (SDPI) Conference on Friday, Pakistan Banks Association (PBA) President Zafar Masud said the nation could unlock $20–$25 billion in crypto-related growth, according to a report by local news outlet Daily Times. Masud pointed out the booming global stablecoin market, adding that Pakistan is “seriously considering a rupee-backed stablecoin” and that a Central Bank Digital Currency…

Canada Quietly Funds New Stablecoin Legislation in New Federal Budget

The budget introduces a massive deficit and still requires a vote of confidence from Parliament; otherwise, another federal election will be triggered. Canada’s New Budget Channels Resources into Developing Stablecoin Governance It’s hard to believe, but for much of 2025, Canada operated without a budget after its new Prime Minister, Mark Carney, narrowly won a […] Source CryptoX Portal

Japan’s FSA Backs Major Banks’ Joint Yen Stablecoin Rollout

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Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins. In a Friday statement, the FSA announced the launch of its “Payment Innovation Project” as a response to progress in “the use of blockchain technology to enhance payments.” The initiative involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform. The announcement follows recent reports that those companies plan to modernize corporate settlements and reduce transaction…

Cathie Wood Trims 2030 Bitcoin Bull Case Over Stablecoin Growth

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Amid this week’s crypto market correction, Ark Invest’s CEO and CIO, Catie Wood, has slashed her 2030 bullish forecast for Bitcoin (BTC), highlighting the global momentum of the stablecoin sector. Related Reading Stablecoins Overtake Part Of BTC’s Role On Thursday, Ark Invest’s CEO, Cathie Wood, joined CNBC’s “Squawk Box” to discuss Bitcoin’s price, her thoughts on stablecoins’ growth, and how her previous bullish forecast for the flagship crypto has evolved over the past year. In the interview, Wood underscored that the rapid rise of stablecoins is taking on a role…

Elixir sunsets deUSD stablecoin in reaction to Stream’s $93M loss

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Elixir said it will sunset its deUSD stablecoin after $75 million worth of the token became entangled in Stream Finance’s $93 million loss. Decentralized finance liquidity provider Elixir has pulled support for its synthetic stablecoin, deUSD, due to knock-on effects from Stream Finance’s $93 million loss earlier this week. Elixir said in an X post on Thursday that it has already successfully processed redemptions of 80% of all deUSD holders, which has triggered the stablecoin to depeg from the US dollar to 1.5 cents, CoinGecko data shows. Stream halted withdrawals…