EU authorities are advancing plans for a digital euro with a likely launch in 2029, aiming to compete with stablecoins and global card networks. The move could reshape payments, cut fees, and reinforce European financial sovereignty.
Minneapolis Fed president Neel Kashkari said cryptocurrencies are "utterly useless" and described stablecoins as a "buzzword salad," arguing stablecoins aren't an improvement over Venmo and fail basic real-world viability tests.
Ripple has joined the White House's third meeting aimed at resolving disputes over stablecoin yield offerings, signaling industry engagement in shaping policy. The session could shape rules that affect XRP-linked products and wider crypto yield markets.
Bundesbank chief and ECB Governing Council member Joachim Nagel said a wholesale CBDC and euro‑pegged stablecoins could bolster the euro and help reduce global dollar dependence. He framed both tools as complementary in strengthening Europe’s monetary sovereignty.
The IMF finds stablecoins are increasingly integrating with the U.S. dollar financial plumbing rather than displacing traditional banks, tying crypto payments into existing dollar-based networks. This shift raises fresh regulatory and systemic considerations for policymakers and banks.
Brazil’s Revenue Service will propose a 3.5% levy on stablecoin purchases and transfers, treating them as foreign currency exchange operations under the IOF. The measure enters public consultation and could raise costs for remittances and on/off-ramps.
The National Credit Union Administration proposed a federal licensing framework for payment stablecoins issued by credit union subsidiaries, paired with new compliance standards. The move is intended to provide a clear, regulated pathway for credit unions to participate in digital payments.
At Accelerate APAC, Solana emphasized tokenization, payments, ETFs, stablecoins and AI infrastructure, urging the ecosystem to move beyond memecoin mania toward building the internet’s capital markets.
Ripple and UAE digital bank Zand are expanding their collaboration to link Ripple’s RLUSD with Zand’s AED-backed stablecoin AEDZ on the XRP Ledger under a regulated framework. The integration targets improved liquidity and regulated on‑ramps for AED and USD stablecoins in the region.
The IMF warned via its official X account that stablecoins carry inherent financial risks, with particular downside for weaker and emerging economies. The message raises fresh regulatory and stability concerns as stablecoin adoption grows.