stablecoins

JPMorgan Chase CEO Jamie Dimon has fiercely criticized Coinbase CEO Brian Armstrong and vowed to oppose the Clarity Act, a digital-asset bill advancing in Congress. Dimon dismissed Armstrong's stance and stated banks will not accept the current legislation, which centers on stablecoin interest payments. Banks argue these yields lack regulatory safeguards, while crypto firms see them as customer rewards.

The UAE has become the first country to grant a Stored Value Facilities (SVF) license to a cryptocurrency platform, allowing regulated digital asset payments. This landmark approval enables UAE residents to pay government fees using cryptocurrencies, integrating virtual asset payments into the nation's regulated financial system and bolstering its digital economy.

We have had time to prepare for the challenges we may face now with the conflict in West Asia. But we didn’t get our house in order. Hopefully, there is still time to do the heavy lifting and rise to PM’s appeals

Coinbase is cutting about 14% of its global workforce, impacting around 700 jobs. This move is driven by the evolving role of artificial intelligence in operations and ongoing crypto market fluctuations. The company aims to streamline its structure and enhance efficiency. Restructuring is expected to conclude by the second quarter of 2026.

Twenty-one American companies are donating millions towards a new White House ballroom, estimated at $400 million. President Trump insists taxpayer funds are not used for the structure, only security. The project aims to enhance security following a recent incident, with the Justice Department urging a lawsuit's dismissal.

From cheaper autonomy to costlier capital, a post-dollar world could test India’s economic model

The prestigious guest list made the event look more like a state visit than a ceremony for a non-binding stablecoin agreement that is exploratory in nature and doesn’t involve a major financial commitment. A group photo showed the 32-year-old son of Trump adviser Steve Witkoff flanked by Pakistani PM Shehbaz Sharif and Field Marshal Asim Munir.

stablecoins are known for their non-volatility as opposed to all the other inherently volatile cryptocurrencies. These are stable because of being pegged to fiat money like the US dollar or Euro.

As cryptocurrency prices plummeted this week, with bitcoin losing around a third of its value in just eight days, stablecoins were supposed to be isolated from the chaos. But an unexpected collapse in the fourth-largest stablecoin TerraUSD, which broke from its 1:1 dollar peg, has brought the asset class under renewed attention.

stablecoins were among the hottest digital assets in 2021, holding 8.24 percent share of the entire crypto market according to a recent report by coingecko.com.

The draft Stablecoin Innovation and Protection Act, 2022 would brand certain stablecoins as qualified, making them redeemable on a one-to-one basis for US dollars.

RBI Deputy Governor T Rabi Sankar warned that stablecoins pose significant macro-financial risks, including currency substitution and weakened monetary policy. He argued they lack the essential features of modern money, such as fiat status and singleness, and could undermine India's financial architecture. Sankar highlighted that their purported benefits are largely unproven, with domestic systems already offering superior payment solutions.

Japan has launched its first Yen-pegged stablecoin, JPYC, aiming to integrate blockchain into its financial system. This move, alongside potential megabank issuances, signals a shift from cash reliance, though concerns about bypassing regulated banking persist. The stablecoin's success hinges on widespread adoption, with widespread use potentially years away.

China might permit yuan-backed stablecoins. This move aims to enhance the yuan's global presence. The State Council will review a plan to compete with US stablecoins. Leaders will discuss stablecoin adoption. Hong Kong and Shanghai are expected to lead local rollouts. Discussions on yuan and stablecoin usage may occur at the Shanghai Cooperation Organisation Summit. This could reshape global finance.

The US Senate has moved forward with the Genius Act, a bill designed to regulate stablecoins. Despite Democratic concerns about President Trump's potential conflicts of interest due to his cryptocurrency ventures, the bill passed a key procedural vote. It introduces comprehensive regulations for stablecoins, including reserve requirements and consumer protections.

Meta, the parent company of Facebook, is exploring stablecoins as a payment solution for content creators, reigniting its interest in digital currencies after abandoning the Diem project. The company is considering multiple stablecoins like USDC and USDT for cross-border payments, aiming to reduce transaction fees. This move reflects a broader trend of non-crypto firms integrating blockchain-based financial solutions.