Tag: Stablecoin

US Stablecoin Rules Are a Gift to China

Key Notes Coinbase Chief Policy Officer Faryar Shirzad warned that US stablecoin policy could give China a strategic advantage. The People’s Bank of China announced it will allow commercial banks to pay interest on the digital yuan (e-CNY) from January 1, 2026. The US GENIUS Act currently prohibits stablecoin issuers from paying interest, a point of contention in ongoing Senate negotiations. Coinbase’s Chief Policy Officer, Faryar Shirzad, issued a stark warning that the U.S. risks conceding dominance in digital finance to China over proposed stablecoin regulations. The alert comes as…

Coinbase Warns Stablecoin Rules Could Hand China an Edge

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A senior executive at Coinbase warned that changes to the US stablecoin framework could weaken Washington’s position in the global race for digital payments, just as China moves to make its central bank digital currency (CBDC) more competitive. In a post on X, Faryar Shirzad, Coinbase’s chief policy officer, said the debate over whether US-issued stablecoins can offer “rewards” under the GENIUS Act could hurt US dollar stablecoins’ global competitiveness. He pointed to a recent announcement from China’s central bank as evidence that rival financial systems are moving quickly to…

South Korea Delays Crypto Bill over Stablecoin Concerns: Report

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The introduction of a stablecoin bill pioneered by South Korean President Lee Jae-myung will reportedly be delayed into 2026 after concerns about issuers. South Korean lawmakers have reportedly delayed submission of a cryptocurrency bill that could allow the issuance of domestic stablecoins as key issues remain unresolved. According to a Tuesday Yonhap News report, officials in South Korea’s government were continuing to work on the Digital Asset Basic Act, but expected to submit the bill sometime in 2026. The reported delay was due to “major issues that raise disagreements with…

JPMorgan Freezes Stablecoin Startup Accounts Over Sanctions

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JPMorgan Chase has reportedly frozen bank accounts linked to two venture-backed stablecoin startups after identifying exposure to sanctioned and high-risk jurisdictions. The accounts belonged to BlindPay and Kontigo, two stablecoin startups backed by Y Combinator that primarily operate across Latin America, according to a report by The Information. Both companies accessed JPMorgan’s banking services through Checkbook, a digital payments firm that partners with large financial institutions. Per the report, the freezes occurred after JPMorgan flagged business activity tied to Venezuela and other locations subject to US sanctions. A spokesperson for…

USX Stablecoin Stabilizes After Brief Depeg Triggered by DEX Sell Pressure

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USX, a Solana-native US dollar-pegged stablecoin, briefly traded below its peg on decentralized exchanges early Friday after heavy sell pressure overwhelmed available liquidity on Orca and Raydium, prompting issuer Solstice Finance to step in with liquidity support. In an X post on Friday, PeckShieldAlert showed USX briefly trading as low as $0.10 in secondary markets before rebounding, a move attributed to isolated trades executed during a period of extremely thin liquidity. Source: PekShieldAlert Aggregated DEX data shows a less extreme move. A 15-minute USX/USD chart from GeckoTerminal’s Orca pool shows USX dipping to…

Solana’s USX Depeg Sparks Fresh Stablecoin Liquidity Fears

Key Notes DeFi protocol Solstice intervened and restored the USX price close to $1 through liquidity injections. Solstice said the de-peg did not affect underlying collateral. It also added that the net asset value is intact and 1:1 redemptions are continuing normally. . USX, the Solana-based stablecoin from Solstice, suffered a major de-peg event with its price dropping as low as $0.1. However, the team behind the DeFi protocol, Solstice, stepped in to address the issue. It has restored the peg to $0.99, as of press time. USX is…

What the $310B Stablecoin Market Reveals About Crypto Adoption

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The hockey stick growth of stablecoin adoption The stablecoin market reached a pivotal milestone on Dec. 12, 2025, hitting $310 billion in total value. That represents a 70% increase in just one year. This growth is not just another cryptocurrency bubble metric; it signals a fundamental shift in how digital assets are beginning to be used globally. To understand why the $310-billion stablecoin market matters, it is first necessary to understand what stablecoins are. Unlike Bitcoin (BTC) or Ether (ETH), which fluctuate based on market sentiment, stablecoins are designed to…

Kyrgyzstan State-Backed Stablecoin to be Listed on Binance

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Kyrgyzstan President Sadyr Japarov said a recently launched stablecoin pegged to the country’s fiat currency has been listed on cryptocurrency exchange Binance. In a Wednesday X post, Japarov said Kyrgyzstan’s KGST stablecoin, pegged to the som, would contribute to the development of cross-border payments and deepen the country’s ties to the crypto ecosystem. Binance CEO Changpeng “CZ” Zhao wrote on social media that “many more” nation-backed stablecoins would be coming to the exchange. Source: Sadyr Zhaparov Zhao began advising the central Asian nation in April as part of an agreement…

Trump Family’s USD1 Stablecoin Soars By $150M After Binance Yield Launch

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The World Liberty Financial USD (USD1) stablecoin linked to the family of US President Donald Trump gained $150 million in market capitalization on Wednesday after Binance announced a yield program centered around the token. The stablecoin’s market capitalization climbed from $2.74 billion to $2.89 billion on Wednesday after Binance announced its “booster program,” offering up to 20% annual percentage rate (APR) on USD1 flexible products for deposits exceeding $50,000. The “first promotion” was designed to “help USD1 holders to maximize their rewards” and runs until Jan. 23, 2026, with passive…

BC Card Successfully Tests Stablecoin Payments in South Korea

Key Notes BC Card successfully processed stablecoin-based payments for foreign users using existing card infrastructure. The pilot involved Wavebridge, Aaron Group, and Global Money Express, requiring no changes for merchants. Regulatory progress stalled as the Bank of Korea and FSC disagree over bank ownership rules for stablecoin issuers. South Korea’s BC Card recently completed a pilot that lets foreign users pay local merchants using stablecoins. Tourists converted stablecoins from overseas wallets into digital prepaid cards and spent them at Korean shops without technical glitches or settlement errors. The trial tested…