Evolution of U.S. Stablecoin Legislation: The GENIUS Act

Local media report the central bank is exploring a regulatory framework to let licensed banks offer cryptocurrency and stablecoin services, a move analysts say could widen public access to digital assets.

Seoul will extend the same no-fault compensation rules that apply to banks to cryptocurrency exchanges after the Upbit breach, citing gaps in consumer protection exposed by the attack.

Alchemy co‑founder Joe Lau says stablecoin use is surging as banks, fintechs and payment platforms move beyond an era dominated by USDT and USDC. The shift signals bigger institutional flows and new on‑ramp rails for fiat settlement.

China's central bank has declared all crypto activity illegal, explicitly including stablecoins, after a PBOC multi-agency meeting on 28 November. Authorities warned stablecoins pose a serious threat to monetary sovereignty and financial stability.

The IMF cautions that while stablecoins can widen access to financial services, their rapid growth risks weakening central banks’ monetary control and influence. Policymakers are urged to strengthen regulation and international coordination to protect monetary sovereignty.