Quick Summary: A White House economic analysis finds banning stablecoin yields would cause roughly $800 million in annual welfare losses while adding only $2.1 billion in bank lending. A report from the White House Council of Economic Advisers, a three-member agency within the Executive Office of the President, concludes that prohibiting yield on stablecoins would produce minimal benefits for bank lending while generating measurable economic harm. The agency, which advises the president on economic matters, published its findings on Wednesday. The report directly challenges arguments made by banking groups that stablecoin yields pose a serious threat to traditional lending activity.Under…
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Quick Summary: Bitcoin supply between $60K and $70K has surged by over 844,000 BTC since January, signalling significant dip-buying activity. On-chain data reveals that Bitcoin supply concentrated in the $60,000 to $70,000 price range has climbed to 1.85 million BTC, representing an increase of 844,275 BTC since the start of the year. This accumulation pattern is widely interpreted as a sign of strong dip-buying behaviour among investors. The figures suggest that a substantial number of market participants have been acquiring Bitcoin at these levels, viewing the range as an attractive entry point.The $70,000 price band alone accounts for 2.2% of…
Quick Summary: South Korea’s ruling party is preparing legislation that would classify stablecoins as foreign exchange payment tools and require tokenized RWAs to be trust-backed. South Korea’s ruling Democratic Party is reportedly working on a draft bill that would bring stablecoins and tokenized real-world assets under the country’s existing financial regulatory framework. The proposed legislation, cited by the Seoul Economic Daily, is drawn from an integrated draft of the Digital Asset Basic Act. The outlet reported on Wednesday that the bill would classify stablecoins used in cross-border transactions as “means of payment” under the Foreign Exchange Transactions Act.Under the proposed…
Quick Summary: Six major Swiss banks have partnered with Swiss Stablecoin AG to pilot a franc-pegged stablecoin through 2026, exploring faster settlement and programmable payments. Six prominent Swiss banks, among them UBS and PostFinance, have joined forces with Swiss Stablecoin AG to begin testing a stablecoin pegged to the Swiss franc. The pilot program is designed to allow participating institutions to simulate payment flows under real-world conditions while operating within controlled limits. The collaboration marks a notable step toward digital currency adoption within Switzerland’s established banking sector.The testing phase is scheduled to run through 2026, giving banks and other participating…
Quick Summary: A U.S.-Iran ceasefire sent Bitcoin to $71,600 while oil dropped 16% and Morgan Stanley launched its Bitcoin ETF. A ceasefire agreement between Iran and the United States has triggered a broad shift across global markets, pushing Bitcoin to $71,600. The deal prompted the reopening of the Strait of Hormuz, a critical waterway for global oil shipments. The development eased geopolitical tensions that had weighed on risk assets in recent weeks. Crypto markets responded positively, with Bitcoin remaining well-supported throughout the session.Oil prices fell sharply following the ceasefire announcement, dropping 16% to $95 per barrel. The decline reflects expectations…
Quick Summary: Thailand’s SEC proposes treating financiers of major crypto shareholders as regulated parties to block illicit capital flows into the industry. The Securities and Exchange Commission of Thailand has put forward new rules aimed at tightening oversight of cryptocurrency businesses by expanding approval requirements to cover those who financially back major shareholders. The proposal, announced on Monday, would treat any person providing funding or financial support to a major shareholder as a shareholder in their own right, subject to regulatory approval. The agency says the move is designed to ensure that crypto operators are financed through legitimate sources rather…
Quick Summary: The New York Times identifies British cryptographer Adam Back as the most likely creator of Bitcoin, but Back firmly denies being Satoshi Nakamoto. The New York Times published an investigation on Wednesday naming Adam Back, the British cryptographer who invented Hashcash, as the most likely person behind the Satoshi Nakamoto pseudonym used by Bitcoin’s creator. The report was authored by John Carreyrou, a French-American investigative journalist widely recognized for exposing the Theranos fraud. Back promptly rejected the claim, directing reporters to a post on X in which he stated clearly that he is not Satoshi.In his post, Back…
Quick Summary: Bitcoin climbed to around $72,700 and Ether rose 6% as easing trade tensions triggered over $600 million in futures liquidations. Bitcoin advanced to approximately $72,700 as a sudden easing of trade tensions reversed the cryptocurrency market’s recent downward momentum. Ether posted a 6% gain, reaching $2,250 during the same period. The broad rally swept across both major digital assets and smaller altcoins.Despite the upward move, analysts caution that Bitcoin has not yet broken free from the multi-month trading range that has constrained its price. A decisive push above $75,000 is seen as the key threshold needed to confirm…
Quick Summary: South Korean regulators have mandated all domestic crypto exchanges implement a single withdrawal delay system to fight voice phishing scams. South Korea’s financial regulators have issued a directive requiring every domestic cryptocurrency exchange to implement a standardised withdrawal delay system. The move is aimed at curbing the growing threat of voice phishing scams that have targeted users of digital asset platforms. The new framework represents a coordinated regulatory response across the entire domestic crypto sector.Under the new rules, uniform criteria will govern when users may qualify for exceptions to the mandatory withdrawal delay. These criteria are based on…
Quick Summary: MEXC’s new CEO is doubling down on retail users with a zero-fee, ‘trade everything’ platform adding tokenized stocks, commodities, and prediction markets. MEXC chief executive Vugar Usi is steering the exchange toward a broad retail-focused strategy, arguing that memecoins remain relevant and that mainstream financial markets now move on the same kind of viral sentiment that has long defined crypto trading. His vision centers on transforming MEXC into a platform where retail speculators can access a wide range of assets in one place. The approach marks a deliberate departure from the direction taken by many of the exchange’s…
