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Offshore Stablecoin Giants Race to Rebrand Under New U.S. Rules
Washington has finally set down firm rules for the stablecoin market. With the passage of the GENIUS Act, any company offering dollar-pegged tokens to U.S. users must now be issued under American law, backed by cash or Treasuries, and overseen by regulators. That requirement has sent shockwaves through the industry. For years, some of the biggest issuers relied on offshore registrations, opaque structures, and foreign financing to grow. Now, many of those firms are rushing to reinvent themselves as “American.” At the center of this scramble sits Tether. Its token, USDT, dominates the sector with more than $170 ... (full story)
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From thestreet.com | Oct 9, 2025
The largest U.S. crypto exchange Coinbase (Nasdaq: COIN) and the payments giant Mastercard (NYSE: MA) are in advanced talks to acquire London-based stablecoin firm BVNK, Fortune reported. While no details are final, the acquisition would cost $1.5 billion to $2.5 billion, the report claimed by citing sources. Once finalized, it would be the largest ...
Good morning and welcome to the Federal Reserve Board. I am sorry that I'm traveling and could not be with you today. Thank you to Vice Chair for Supervision Miki Bowman for hosting this conference. Thank you also to all the Board staff that made this event possible. Community banks play a vital role in the U.S. financial system because they have strong links to the people and businesses they serve, and direct knowledge of local economic conditions. These close ties allow community bankers to better understand their customers, and the ensuing products and services for those they serve. I saw this clearly when I led the Board's community and regional bank subcommittee as a governor. I have also seen the critical role of community banks in the communities where I have lived, including as a community-bank customer. Federal Reserve's Powell Doesn't Talk About Monetary Policy or Economic Outlook During Welcome Speech at Community Bank Conference.
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