Bank of Korea stands firm on bank-led stablecoin push as deposit token pilots advance

The ECB's rate hike and digital euro progress could reshape Europe's financial landscape, impacting stablecoin demand and regulatory dynamics. The post ECB hikes rates for the first time since 2023 as digital euro legislation advances appeared first on Crypto Briefing.

The case could redefine stablecoin issuer responsibilities, impacting regulatory frameworks and court authority over digital asset recovery. The post Circle faces criminal complaint in Wisconsin over USDC recovery refusal appeared first on Crypto Briefing.

The post Stablecoin Cross-Border Remittance Enables Hyundai Card’s Efficient PoC appeared on BitcoinEthereumNews.com. Hyundai Card has pulled off something that most corporate finance teams have only theorized about: a real, live stablecoin cross-border remittance between two overseas subsidiaries of one of South Korea’s biggest conglomerates — and it took just seven minutes. Key takeaways Hyundai Card and Hyundai Motor completed a stablecoin cross-border remittance proof of concept that goes beyond technical testing, reaching operational readiness for real-world deployment. The first PoC converted USD 20,000 from Hyundai Motor America into USDT, transferred it to Hyundai Motor Mexico, and converted it back to dollars — the entire process averaging seven minutes. Participants included Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and Axiym. A second PoC targeting Hyundai Motor’s European entities will bring in Circle and Visa, testing local currencies be

Revolut said USDT support remains unchanged outside EEA and Switzerland as it winds down the stablecoin offering in selected European markets.

The post Kazakhstan’s new crypto adoption push: Stablecoin rules, tax exemptions explained! appeared on BitcoinEthereumNews.com. Kazakhstan is betting big on crypto and has laid the groundwork to develop the sector into a regulated market. On the 7th of July, Kazakhstan President Kassym-Jomart Tokayev signed a decree for the same.  The document was prepared by the Ministry of Artificial Intelligence and Digital Development, the National Bank (central bank), other government agencies, and the Astana International Financial Center.  According to the ministry’s statement, the signed document aims to create a ‘modern regulated’ crypto market to boost investment and adoption.  It lays the foundation for the systematic development of a regulated digital assets market, broader adoption of innovative financial technologies, and increased investment attractiveness of the sector. Will mining and tax relief fuel crypto adoption in Kazakhstan? The move came following President Tokayev’s intensifie

The post Sony Bank Stablecoin Approval Marks Key Regulatory Milestone appeared on BitcoinEthereumNews.com. Sony Bank’s conditional OCC approval to establish a US dollar-backed stablecoin trust bank marks one of the more consequential moves a major Japanese financial institution has made into American digital asset infrastructure. On July 6, Sony Bank confirmed it had received conditional approval from the U.S. Office of the Comptroller of the Currency to charter a wholly owned national trust bank called Connectia Trust, with the explicit goal of issuing a stablecoin pegged 1:1 to the U.S. dollar. Key takeaways Sony Bank received conditional OCC approval on July 6 to establish Connectia Trust, a national trust bank subsidiary in the U.S. Connectia Trust plans to issue a US dollar-backed stablecoin for payments across Sony’s digital ecosystem, including video games, anime, and subscriptions. Sony Bank will capitalize Connectia Trust with $40 million; operations are targeted to begin in 2

The post BOK Doubles Down on Bank-Led Stablecoins as Deposit Token Pilots Advance appeared on BitcoinEthereumNews.com. The Bank of Korea (BOK) has doubled down on its stance that won-denominated stablecoins should first be issued through bank-led consortiums. According to local reports from Digital Asset and EDaily, the central bank made the comments in materials submitted on Thursday to the National Assembly’s finance committee. Local outlets reported that the BOK called for safeguards, including priority issuance by bank-led consortiums and a statutory policy body involving relevant agencies. The latest comments reinforce the BOK’s months-long push to keep won stablecoin issuance under bank-led structures. The central bank’s stance has divided policymakers and industry groups and contributed to delays in South Korea’s digital asset bill. The BOK also said it plans to continue developing deposit-token use cases in the second half of the year, including support for government subsidy p

Binance's shrinking USDC reserves may signal shifting trader preferences and regulatory impacts, affecting market liquidity and stability. The post Binance USDC holdings drop 22% to $4.6B as $1B in stablecoin liquidity exits appeared first on Crypto Briefing.