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Ripple has won final approval from the U.S. OCC for a national trust bank, allowing it to manage RLUSD reserves, act as collateral trustee and provide digital-asset custody. RLUSD issuance will remain with Standard Custody & Trust Company.
The US Office of the Comptroller of the Currency is urging community banks to consider becoming payment stablecoin issuers or using subsidiaries to do so. The call follows finalized rules for the GENIUS Act, which is scheduled to take effect in January.
Canada has proposed rules that would let eligible stablecoin holders redeem any amount directly with an issuer, with redemptions generally due within three business days and fees capped at 1%. The framework remains under consultation and is intended for implementation in fall 2027.
A Chinese national extradited to the US faces up to 20 years in prison over allegations that he helped move $36.9 million stolen from 174 crypto scam victims through a Bahamas bank, into Tether’s USDT and onward to Cambodia.
More than 10,000 complaints about crypto transaction restrictions were filed against U.K. banks over 90 days, according to Stand With Crypto. Lloyds received the most complaints, highlighting tensions between banking practices and Britain’s ambition to become a global cryptocurrency hub.
Israeli Prime Minister Benjamin Netanyahu said blockchain and cryptocurrencies could help Israel respond to potential international financial sanctions. Opposition politicians, the Bank of Israel and crypto industry figures rejected the idea, arguing digital assets cannot replace conventional finance.
Bitcoin’s wealthy holders are increasingly borrowing against their coins, seeking yield and rebuilding positions through interest, Xapo CEO Seamus Rocca told CoinDesk. The trend suggests a shift from short-term speculation toward private-banking services, although customers remain divided over bitcoin’s near-term direction.
HSBC has launched RedCoin, a Hong Kong dollar stablecoin available to more than 3.3 million PayMe users. Customers can use it with friends and at over 100,000 merchants, while HSBC plans to bring the token to its mobile banking app later this year.
The OCC has removed a proposed automatic seven-day extension for stressed stablecoin redemptions. Its final rule keeps a two-business-day ordinary ceiling, defines compliance by payment initiation and leaves any extra time to regulator approval.
Blockstream has launched a consulting business for banks, asset managers and other institutions while opening an office in Lugano, Switzerland. The company will advise on Bitcoin infrastructure, tokenized assets and confidential settlement, using the location as a hub for European operations.
The post Netanyahu Crypto Plan: Israel Prepares For Possible Global Financial Restrictions appeared first on Coinpedia Fintech News Israeli Prime Minister Benjamin Netanyahu said he has asked for a blockchain-based plan...
South Korea’s central bank plans to draft a foreign-exchange law amendment by year-end to regulate stablecoins used for payments and monitor cross-border transfers. The initiative comes as lawmakers debate a broader digital-asset bill and whether a postponed crypto tax should begin in 2027.
Sweden’s Riksbank wants lawmakers to revisit a digital krona, warning that foreign stablecoins and a future digital euro could weaken demand for Sweden’s currency. The central bank says legislation should begin now because an e-krona could take at least five years to launch.
Coinbase Ireland has been fined €3.25 million, about $3.6 million, by Ireland’s central bank for safeguarding and outsourcing breaches. Regulators cited underfunded customer-fund accounts, weak local oversight and excessive reliance on Coinbase’s U.S. parent.
Coinbase Ireland agreed to a $3.6 million settlement with the Central Bank of Ireland over failures involving customer-fund safeguards and oversight of outsourced services. The sanctions require High Court approval before taking effect.
Coinbase Ireland was fined €3.25 million by Ireland’s central bank for failures in safeguarding customer funds and overseeing outsourced services. Coinbase cited coding and account-handling issues but said no customer lost money or was unable to access funds.
Major U.S. banks are restricting third-party AI agents after finding unauthorized software entering customer accounts, sometimes with customer credentials. Morgan Stanley is blocking such agents, while other banks are considering read-only access to limit financial risks.
SoFi Bank has introduced SOFIE, a tokenized deposit paying a variable 4.40% APY. The deposit is eligible for FDIC coverage up to specified limits and can be converted 24/7 into SoFiUSD for crypto purchases and transfers.
