Digital Currency

Several US states are moving towards launching state-backed stablecoins built on blockchain technology, aiming to revolutionize the digital payments landscape by enhancing security and transparency. This initiative marks a significant step in the adoption of digital currencies at the governmental level.

On July 16, 2025, the U.S. House of Representatives delayed critical cryptocurrency legislation due to internal Republican disagreements. Despite a key stablecoin framework bill poised for presidential approval, broader crypto legislative progress remains stalled amid debates on digital currency proposals.

The Bank of Korea has suspended its central bank digital currency (CBDC) trials after participating banks showed increased interest in government-endorsed stablecoins. This shift highlights the evolving landscape of digital currencies in South Korea and the impact of regulatory decisions on CBDC development.

Mastercard is paving the way for a future enriched with stablecoin transactions. By partnering with MoonPay, users can convert stablecoins like USDC into local currencies for real-world purchases. This innovation includes debit cards linked to crypto holdings and on-chain identity tools, aiming to simplify cross-border payments. However, the U.S. legislation on stablecoins is currently stalled, with bipartisan negotiations still ongoing.