Hong Kong Bans Unlicensed Stablecoin Promotions—Jail Time Possible
Hong Kong is taking a hardline stance against unregulated stablecoin promotions, with a new law taking effect August 1 that could land violators in jail for up to six months.
Anchorage Digital and Ethena Labs Pioneer GENIUS-Compliant Stablecoin in US
Anchorage Digital Bank is set to make history by issuing Ethena Labs’ USDtb—the first stablecoin designed for compliance with the GENIUS Act.
Western Union Embraces Stablecoins for Next-Gen Payments
Western Union is preparing to enter the stablecoin space, with plans to integrate digital assets into its wallet platform.
Conflux to Launch Offshore Yuan Stablecoin, CFX Jumps 57%
China’s Conflux Network plans to issue an offshore yuan-pegged stablecoin in partnership with AnchorX and Eastcompeace Technology, per a Shanghai government report.
UK Central Bank Chief Rejects Stablecoins, Favors Tokenized Deposits
Bank of England Governor Andrew Bailey has warned that private stablecoins risk destabilizing the financial system, urging banks to focus on tokenized deposits instead.
Ripple’s Stablecoin Gains Traction Amid Crypto Banking Push
Ripple’s RLUSD has crossed the $500 million market cap threshold, marking a significant milestone for the seven-month-old stablecoin.
Bankruptcy Judge Greenlights Celsius’ $4.3B Lawsuit Against Tether Over Collateral Dispute
A New York bankruptcy judge has ruled that Celsius can advance most of its $4.3 billion lawsuit against Tether, the stablecoin issuer.
