Stablecoins Fail BIS “Three Key Tests” as New Report Warns of Financial Risks
The BIS report warns stablecoins fail to meet three key monetary criteria: singleness, elasticity, and integrity, posing risks to financial stability despite some benefits.
German regulator closes case against Ethena GmbH over USDe issuance
BaFin and Ethena Labs agreed on a 42-day USDe redemption plan, ending regulatory disputes. Holders must claim by Aug 6, after which Ethena GmbH will be wound up in the EU/EEA.
Banking giant Barclays to block all crypto transactions on credit cards over debt and fraud concerns
Barclays will block all crypto transactions on credit cards from June 27, citing debt and fraud risks. The bank joins other major lenders in restricting crypto purchases while holding Bitcoin ETFs.
South Korean banks team up to issue Won-backed stablecoin – Details
Eight South Korean banks are collaborating to issue a Won-backed stablecoin, partnering with OBDIA and KFTC to compete with USDC and USDT, with regulatory support from DABA.
ECB Trials XRP Ledger For Bonds—But There’s A Catch
The ECB tested XRP Ledger technology in a closed network for bond transactions via Axiology’s system, focusing on tokenized asset settlement without public XRP involvement.
NYSE Breaks New Ground: Trump Media’s Crypto ETF Eyes Listing
NYSE Arca proposes listing Trump Media’s Bitcoin-Ethereum ETF, a dual-asset fund with 3:1 Bitcoin-Ether allocation, pending SEC approval under Rule 8.201-E for commodity trust shares.
Coinbase Teams with US Secret Service for Massive $225M USDT Seizure in Pig Butchering Crackdown
Coinbase assisted the US Secret Service in seizing $225M in USDT linked to pig butchering scams, tracing funds to 140 OKX accounts and identifying over 130 victims in a major law enforcement operation.
NYSE Arca Moves to List Truth Social’s Dual Bitcoin-Ether ETF – Coinspeaker
NYSE Arca filed with the SEC to list Truth Social’s Bitcoin-Ether ETF (B.T.ETF), holding 75% BTC and 25% ETH. Crypto.com will serve as custodian and liquidity provider, amid political scrutiny.
Coinbase Reveals Role in US Secret Service Seizure of $225 Million in Stolen Crypto – News Bytes Bitcoin News
Coinbase assisted the U.S. Secret Service in seizing $225 million in USDT tied to pig butchering scams, where victims are lured through fake relationships or business deals.
Arizona state won’t buy Bitcoin – But is happy to seize and hold it
Arizona House passed HB 2324 to create a Bitcoin reserve funded by seized digital assets, a U.S. first. The bill awaits Governor Hobbs’ decision, with no taxpayer funds involved.
