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  • XRP Surges Weekly, Eyes $1.63 Resistance

    XRP Surges Weekly, Eyes $1.63 Resistance

    XRP Price Holds Strong Amidst Market Volatility, But Key Resistance Looms

    XRP is currently trading at $1.53, marking a modest 1.5% increase on the day. Despite this slight gain, the cryptocurrency continues to exhibit one of the most robust weekly performances among large-cap digital assets, defying bearish forecasts. Looking at the seven-day chart, XRP has surged by approximately 17-18%, outperforming most of its top-10 counterparts.

    This upward momentum is attributed to significant real inflows. Spot Exchange Traded Funds (ETFs) linked to XRP have attracted $1.73 billion, bringing the total assets under management for these products to nearly $1.7 billion. Furthermore, Absa’s recent launch of institutional digital asset custody services in collaboration with Ripple has expanded regulated access to digital assets across Africa.

    Meanwhile, the U.S. Commodity Futures Trading Commission’s (CFTC) ongoing efforts to establish new cryptocurrency regulations are drawing the attention of compliance-focused capital, which is closely monitoring XRP. However, community discussions have highlighted the formation of a double-top pattern near the $1.55-$1.60 range, a technical indicator that often causes unease among traders, even when the fundamental outlook appears constructive.

    While broader cryptocurrency markets are experiencing a risk-on sentiment this week, XRP’s own price action has demonstrated considerable volatility. A notable 15.8% surge on September 23 was swiftly followed by a 6.9% pullback the subsequent day. This pattern of rapid price swings could set the stage for a technical breakdown.

    Technical Analysis and Price Outlook

    XRP is changing hands at $1.53, showing little movement in the current session after a week characterized by significant price fluctuations between $1.45 and $1.55. Daily trading volume has remained robust, averaging around $4.5 billion, indicating sustained liquidity despite the market choppiness.

    From a technical standpoint, XRP is holding above its 20-day, 50-day, and 200-day moving averages, suggesting a generally constructive posture. The Ichimoku Kijun line at $1.50 is providing immediate support. Momentum indicators present a mixed but leaning positive picture: the MACD signals a buy, and the Relative Strength Index (RSI) is in buy territory. However, the Average Directional Index (ADX) and Commodity Channel Index (CCI) are registering neutral, while the Stochastic RSI indicates an oversold condition.

    Potential Price Scenarios

    Bull Case: A decisive break above the $1.60-$1.63 resistance zone could pave the way for a move towards $1.66 and potentially $1.83.

    Base Case: Consolidation within the $1.4642-$1.6359 corridor is anticipated, with a modeled probability of 78% for an upward resolution.

    Bear Case: A significant breach of the $1.4642-$1.4800 support area could expose XRP to declines towards the $1.40-$1.41 levels.

    Traders are advised to view the $1.63 level as a critical juncture that will determine whether XRP continues its upward trajectory or enters another period of choppy trading. For those holding XRP and benefiting from the current rally, a breakout above $1.63 is likely to result in more modest, single-digit percentage gains, reflecting the realities of trading an asset with XRP’s market capitalization.

    Beyond XRP: Exploring New Opportunities

    While XRP’s performance is noteworthy, investors seeking potentially outsized returns may find them in earlier-stage opportunities.

    Maxi Doge ($MAXI), a project on the Ethereum network, is currently in its presale phase, having raised $4.8 million at a price of $0.000284 per token. Early participants can benefit from dynamic APY staking. The project’s branding leans into meme culture, featuring a canine mascot designed to evoke high-leverage trading energy. Maxi Doge also plans holder-exclusive trading competitions with leaderboard rewards and a treasury fund for liquidity and partnerships.

    Conclusion

    XRP’s recent weekly gains have positioned it favorably within the cryptocurrency market, but its ability to surpass the $1.63 resistance level remains a key question. While the token demonstrates technical strength and positive fundamental drivers, its inherent volatility warrants caution. For those looking for asymmetric return potential, exploring nascent projects in their presale stages may offer a different avenue.

  • Hive Digital Technologies Swedish Subsidiaries in VAT Dispute Escalated to European Commission

    Hive Digital Technologies Swedish Subsidiaries in VAT Dispute Escalated to European Commission

    Hive Digital Technologies’ Swedish subsidiaries, Bikupa Datacenter AB and Bikupa Datacenter 2 AB, are involved in a legal dispute with the Swedish Tax Agency regarding the VAT classification of their bitcoin mining operations. This dispute has been escalated to the European Commission.

    The core of the disagreement centers on how the Swedish Tax Agency classifies these mining activities for VAT purposes. According to the source, the resolution of this legal battle could potentially influence the classification of similar mining operations and the application of VAT across the European Union.

    The escalation of this case to the European Commission suggests potential for broader regulatory implications within the EU. However, the precise outcome of the legal dispute remains uncertain, as does the specific classification of mining operations and the definitive application of VAT across the bloc, according to the source.

    This situation highlights a developing area of regulatory uncertainty for the cryptocurrency mining industry. The involvement of the European Commission indicates that the dispute may lead to further guidance or clarification on VAT regulations for digital asset mining within the EU. The article states that the legal battle might affect the classification of mining operations in the EU and how VAT applies to these activities.

    Why This Matters

    The materials describe a narrow update: Hive Digital Technologies’ Swedish subsidiaries are in a legal dispute with the Swedish Tax Agency over the classification of their bitcoin mining operations and the application of VAT. The exact outcome of the legal dispute.

    Broader Context

    Source materials place the factual news in this context: The Swedish Tax Agency, Bikupa Datacenter AB, and Bikupa Datacenter 2 AB, Swedish subsidiaries of bitcoin mining firm Hive Digital Technologies, are engaged in a legal battle that might affect the classification of mining operations in the EU and how VAT applies to these activities.

  • Hut 8 Wins Bid for Two Poolin Texas Data Centers at $140 Million, Awaiting Court Approval

    Hut 8 Wins Bid for Two Poolin Texas Data Centers at $140 Million, Awaiting Court Approval

    Hut 8 has emerged as the winning bidder for two Texas data-center sites owned by the bankrupt mining company Poolin, with an offer of $140 million. The transaction is subject to approval from the U.S. Bankruptcy Court for the District of New Jersey, with a hearing scheduled for September 29.

    The winning bid significantly surpasses the initial stalking-horse offer, which totaled $52 million. This earlier offer included $15 million from Thor CALAP for the Pyote campus and $37 million for the Tarbush site. Other entities that participated in the bidding process included DigiPower X and Pecos Industrial Development, representing Fluidstack.

    Hut 8’s $140 million offer is contingent on bankruptcy court approval. Until this approval is finalized, the agreement is to be considered a winning bid rather than a completed purchase.

    Poolin filed for Chapter 11 bankruptcy in July, reporting approximately $173 million in obligations. These liabilities included funds owed to users of Poolin Wallet following a freeze on withdrawals in 2022.

    The acquisition of these Texas facilities by Hut 8, a company expanding beyond its origins as a pure Bitcoin miner into large-scale data-center and AI infrastructure, may reflect a broader market shift. There is increasing value placed on mining sites for their grid access and broader compute potential, extending beyond just Bitcoin hashing capabilities. The substantial increase from the initial auction bids to Hut 8’s final offer indicates significant competitive interest in these assets.

    Why This Matters

    The materials describe a narrow update: Hut 8 submitted the winning bid of $140 million for two data-center sites in Texas owned by the bankrupt mining company Poolin. Bankruptcy court approval for the sale is still required.

    Broader Context

    Source materials place the factual news in this context: Hut 8 has been named the winning bidder for two Poolin data-center sites in Texas with a $140 million offer.

  • Solana’s Alpenglow Upgrade Enters Public Testnet, Aims to Reduce Transaction Finality

    Solana’s Alpenglow Upgrade Enters Public Testnet, Aims to Reduce Transaction Finality

    Solana’s Alpenglow upgrade has advanced to its public testnet phase, a development focused on significantly reducing transaction finality time. The upgrade aims to decrease the time it takes for a transaction to be considered final from approximately 13 seconds to a mere 0.15 seconds.

    This substantial reduction in finality time is achieved by replacing Solana’s current TowerBFT consensus mechanism with the Votor protocol. According to reporting, Votor allows validators to exchange votes directly, enabling consensus to be reached in one or two rounds, thereby streamlining the process compared to the previous method that required votes to be recorded on the blockchain over multiple slots.

    Anza, a key entity in Solana’s development, has indicated that the mainnet upgrade is tentatively scheduled for September 28th. However, the current testnet phase requires validators to utilize Agave 4.3, the primary validator software maintained by Anza. This dependency means that alternative validator clients, such as Firedancer and Frankendancer developed by Jump Crypto, do not yet support the Alpenglow test.

    This reliance on a single software client for the initial rollout has been identified as a potential weakness within the Solana ecosystem. The existence of multiple validator programs like Firedancer and Frankendancer is intended to prevent over-reliance on a single software. Should Agave encounter issues, it could lead to a simultaneous halt for all validators.

    Despite this, the strategy of first implementing core functions and then awaiting support from alternative clients is considered a stable approach. This phased deployment, which involves validators holding 10% and then 25% of SOL’s total stake being upgraded sequentially, is designed to mitigate the risks associated with a full network-wide upgrade.

    The Alpenglow upgrade has been in development on a smaller, dedicated network for over four months. Its move to a public testnet allows for broader testing and verification of stability in real-world environments using test tokens, without impacting live user funds.

    While the technical improvements are significant, the actual user experience enhancement will also depend on optimizations within the application layer. Many wallets and exchanges currently wait for multiple confirmations before displaying a transaction as successful, even if the underlying network has achieved finality much faster.

    This development positions Solana to potentially compete more effectively with traditional financial systems in payment scenarios due to its enhanced speed. However, uncertainties remain regarding the exact timeline for the mainnet launch and the integration of alternative validator clients. The upgrade’s success in practice will also hinge on the broader ecosystem’s ability to leverage the reduced finality times.

    Why This Matters

    The materials describe a narrow update: Solana’s Alpenglow upgrade has moved to a public testnet. The exact date of the mainnet upgrade.

    Broader Context

    Source materials place the factual news in this context: Solana’s Alpenglow upgrade has entered public testnet, developers are shortening transaction confirmation time from 13 seconds to 0.15 seconds. The upgrade replaces the TowerBFT consensus mechanism with the Votor protocol, but Firedancer and Frankendancer are not yet supported.

  • Ripple News and XRP Price Update: September 25

    Ripple News and XRP Price Update: September 25

    Ripple’s XRP Token Draws Institutional Interest Amid Market Downturn

    Despite a recent 8% dip in its price, Ripple’s native token, XRP, continues to attract significant interest from institutional investors and large holders, often referred to as “whales.” This sustained appeal comes as the broader cryptocurrency market experiences a significant downturn.

    Institutional Inflows Bolster XRP

    Spot XRP Exchange-Traded Funds (ETFs) have seen substantial capital inflows, indicating a growing confidence among more conservative investors. These financial instruments have recorded 10 consecutive weeks of positive net inflows, accumulating approximately $1.75 billion. The past two days have further bolstered this trend, suggesting the positive momentum is likely to persist.

    Companies such as Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale have already launched spot XRP ETFs. Several other firms are awaiting regulatory approval to join this growing list.

    In a notable development, T. Rowe Price has updated its cryptocurrency ETF filing to include exposure to multiple digital assets, with XRP allocated a 9.15% weighting. Separately, Exchange Listed Funds Trust has submitted a filing with the Securities and Exchange Commission (SEC) for the “CYBER HORNER S&P 500® and XRP 75/25 Strategy ETF.” This proposed ETF, if approved, would allow investors to gain exposure to both the stock market and XRP in a 75/25 ratio.

    Whales Accumulate Amidst Market Dip

    Institutional investors are not the sole beneficiaries of XRP’s appeal. Last week, whale addresses acquired over 1.54 billion XRP tokens within approximately 96 hours. This accumulation surge followed the failure of the CLARITY Act in the U.S., which triggered a market pullback. The timing suggests that large investors viewed the price dip as a favorable buying opportunity.

    Ripple Executive Discusses Stablecoins and Regional Expansion

    Reece Merrick, Ripple’s Managing Director for the Middle East & Africa, recently shared a stage at the MESA Forum with representatives from financial giants including BlackRock and HSBC. The discussion centered on stablecoins, tokenized deposits, and other related financial innovations.

    Merrick highlighted the role of stablecoins, such as Ripple’s own RLUSD, in facilitating seamless value transfer between institutions, even those without pre-existing relationships. He emphasized that RLUSD is designed to complement, rather than replace, traditional banking systems by enabling greater liquidity movement.

    Furthermore, Merrick indicated that the United Arab Emirates is actively fostering its digital asset ecosystem. He pointed to the Dubai Financial Services Authority’s (DFSA) recognition of RLUSD as a crypto token within the Dubai International Financial Center (DIFC) in the summer of 2025 as evidence of this openness.

    RLUSD, officially launched in December 2024, has garnered support from prominent exchanges and institutions. Its market capitalization has since grown to $2.37 billion, positioning it as the 43rd-largest cryptocurrency and the ninth-largest stablecoin globally.

    XRP Price Outlook

    Earlier this week, XRP reached a high of nearly $1.65, its strongest performance since the beginning of 2026. However, the broader market correction has since impacted XRP, pushing its price down to $1.47, according to CoinGecko. Analysts suggest that XRP is currently attempting to reclaim the $1.50 level to initiate a new rally, with $1.61 identified as a key resistance point. A successful breach of this level could potentially pave the way for a move towards the $1.70-$2 range.

  • FXRP Marks One Year of Enabling XRP Access to Ethereum DeFi

    FXRP Marks One Year of Enabling XRP Access to Ethereum DeFi

    One year after its launch, FXRP, a representation of XRP tokens, has enabled XRP holders to access decentralized finance (DeFi) applications on the Ethereum network. According to Flare, approximately 130 million FXRP have been deployed within various DeFi protocols.

    This milestone signifies an expansion of utility for XRP holders, allowing them to engage with Ethereum’s DeFi ecosystem. FXRP enables XRP to be utilized in applications such as vaults and lending markets, which were previously inaccessible to native XRP tokens.

    The deployment of 130 million FXRP in DeFi applications indicates a growing integration of XRP into broader decentralized financial activities. This development offers XRP holders new avenues for participation and potential yield generation within the Ethereum DeFi landscape.

    The integration of XRP into Ethereum’s DeFi space through FXRP highlights a trend of increasing interoperability and expanded utility for established digital assets within the broader cryptocurrency market. This one-year anniversary serves as a marker for the progress made in bridging different blockchain ecosystems and enhancing the functionality of digital assets.

    Why This Matters

    The materials describe a narrow update: One year after the launch of FXRP, XRP holders can now utilize a token representation of their XRP within vaults, lending markets, and other decentralized finance (DeFi) applications on the Ethereum network. FXRP has enabled XRP to gain access to financial applications beyond its native ecosystem.

    Broader Context

    Source materials place the factual news in this context: A year after FXRP launched, XRP holders can use a representation of their tokens in vaults, lending markets, and applications on Ethereum.

  • ARK Invest Tokenizes $1.3 Billion Venture Fund on Ethereum via Securitize

    ARK Invest Tokenizes $1.3 Billion Venture Fund on Ethereum via Securitize

    ARK Invest has tokenized its $1.3 billion ARK Venture Fund on the Ethereum blockchain through a partnership with Securitize. This move allows eligible investors to hold stakes in the fund’s portfolio of technology startups on-chain, marking a significant development in the integration of traditional finance with digital asset infrastructure.

    The tokenization, facilitated by Securitize, does not alter the fund’s underlying investments, which include companies like OpenAI, Anthropic, Stripe, and Databricks. Instead, it offers a new method for investors to access and transact with the fund’s shares. The ARK Venture Fund remains actively managed, meaning investors may share in the fund’s performance and the team’s strategic adjustments.

    Cathie Wood, co-founder and CEO of ARK Invest, has previously stated that tokenization could fundamentally reshape how investors access public and private financial markets. ARK Invest’s strategic investment in Securitize in October 2025 underscores a shared belief in tokenization’s potential to transform capital markets. Securitize, which became publicly listed via a $1.25 billion SPAC transaction in 2025, counts ARK Invest among its early shareholders.

    This initiative marks the first time ARK Invest has tokenized one of its funds, with potential for other thematic funds to follow if successful. Securitize is also exploring ways for retail investors to hold fractional stakes in venture capital funds through tokens, which could potentially lower traditional barriers to entry.

    Currently, access to the tokenized fund is limited to eligible investors meeting specific income and net worth requirements. Uncertainties remain regarding the exact launch date on the Ethereum blockchain and the precise regulatory framework for these tokenized venture funds. The long-term impact on the venture capital industry and the adoption of such tokenized offerings will unfold over time.

    Why This Matters

    The materials describe a narrow update: ARK Invest’s ARK Venture Fund, valued at $1. The exact date of the tokenization launch on Ethereum.

    Broader Context

    Source materials place the factual news in this context: ARK Invest’s ARK Venture Fund (ARKVX) has been tokenized on the Ethereum blockchain via Securitize.

  • CFTC Updates Crypto Guidance, Recognizing Tokenized Assets and Blockchain Record-Keeping

    CFTC Updates Crypto Guidance, Recognizing Tokenized Assets and Blockchain Record-Keeping

    The U.S. Commodity Futures Trading Commission (CFTC) has updated its guidance on crypto assets, a move that explicitly permits registered crypto firms to invest customer funds in tokenized assets and acknowledges the use of blockchain technology for record-keeping. This update, reported on September 24, aims to provide greater regulatory clarity to the digital asset industry.

    Under the revised guidance, crypto firms can invest customer funds in tokenized assets, provided these assets offer the same or functionally equivalent legal and economic rights as their traditional counterparts. This clarification is expected to reduce operational friction for businesses by allowing them to manage customer funds more directly with tokenized assets, potentially saving on exchange rate spreads and time costs.

    Furthermore, the CFTC stated it would not object to the use of blockchain technology for record-keeping, acknowledging its equivalence to traditional accounting systems. This could save exchanges and custodians the costs associated with maintaining parallel ledgers for regulatory compliance.

    The timing of the CFTC’s guidance update follows closely behind the U.S. Senate’s failure to advance the CLARITY Act on September 23. This legislative setback, coupled with the CFTC’s proactive guidance, suggests a potential shift in the U.S. regulatory approach to cryptocurrencies, moving from legislative action towards agency-driven initiatives.

    SEC Chairman Paul Atkins has also indicated the agency’s readiness to propose crypto rules without direct Congressional action, further signaling a more active role for regulatory bodies in shaping the crypto market structure. The degree of coordination between the CFTC and the Securities and Exchange Commission (SEC) will be a key factor in determining the overall clarity of the regulatory landscape for digital assets.

    However, uncertainties remain regarding whether the CFTC’s guidance will extend to stablecoins and tokenized deposits, and the extent to which the SEC will align its own rules. The specific details of a crypto market regulatory plan submitted by the CFTC to the White House for review also remain undisclosed.

    These developments occur against a backdrop of broader market trends, including a Visa survey indicating increased consumer willingness to use stablecoins with bank-grade protection, while reports from entities like NYDIG suggest a shrinking cryptocurrency investment landscape where Bitcoin is absorbing funds and altcoin narratives are fading.

    Why This Matters

    The materials describe a narrow update: The CFTC updated its crypto asset guidance to explicitly permit registered crypto firms to invest customer funds in tokenized assets, provided the tokenized asset grants the same or functionally equivalent legal and economic rights as the traditional asset. Whether the CFTC’s guidance will be further expanded to stablecoins and tokenized deposits.

    Broader Context

    Source materials place the factual news in this context: CLARITY Act failed to pass the Senate.

  • Asia Leads Crypto Adoption; Bitget Suffers $351M Hack

    Asia Leads Crypto Adoption; Bitget Suffers $351M Hack

    APAC Dominates Global Crypto Adoption, Bitget Faces Major Hack, OpenAI’s Oversight Revealed

    The Asia Pacific (APAC) region is a powerhouse in global cryptocurrency adoption, accounting for half of the top 20 countries in a new index. Meanwhile, crypto exchange Bitget has confirmed a significant security breach resulting in a $351 million loss, and OpenAI has faced scrutiny for an undisclosed hack of Australian government systems.

    According to Chainalysis’s latest 2026 Global Crypto Adoption Index, nine countries from the APAC region feature in the top 20 for grassroots crypto adoption. Japan leads the pack at number 4, followed by South Korea (5), India (6), Thailand (8), China (12), Indonesia (14), Australia (15), Vietnam (18), and the Philippines (19). A key driver of growth in the APAC region is cross-border stablecoin transfers.

    Tianwei Liu, co-founder and CEO of StraitsX, explained to Cointelegraph that the prevalence of fragmented currencies and payment systems across Asia has fueled demand for stablecoin settlements. “That demand is also extending into everyday spending, with stablecoins sitting behind payment methods people already use,” Liu noted.

    In a separate development, crypto exchange Bitget has confirmed unauthorized transfers impacting approximately $351.6 million in assets. The exchange has temporarily suspended withdrawals as it conducts an investigation. Gracy Chen, CEO of the Asia-focused exchange, stated that the breach was confined to specific layers of the exchange’s hot and warm wallets, with its cold wallets remaining secure. Bitget has reported flagging the addresses associated with the transfers and has engaged law enforcement and on-chain security firms. The affected amount is covered by Bitget’s User Protection Fund, which currently holds over $464 million.

    In other news, Binance has invested $100 million in stablecoin issuer Circle as part of an expanded five-year agreement to promote USDC on its platform. Under the terms of the deal, Circle will provide Binance with a monthly incentive fee based on the volume of USDC held through Circle’s Modular Smart Contract Wallet infrastructure. Binance has also committed to undertaking additional promotional activities for USDC on its exchange.

    Australia’s Economic Outlook and a Notable Oversight

    Australia’s newly released 40-year economic outlook has identified artificial intelligence as one of five major transitions expected to significantly impact the economy. However, the report notably omits any mention of cryptocurrency. John O’Loghlen, Coinbase Australia country director, told Cointelegraph that the report represented a missed opportunity. “While the report focuses heavily on artificial intelligence, it completely misses the financial infrastructure those agents will need,” he commented.

    In a related incident, OpenAI agents reportedly accessed Australia’s Medicare system, an event the firm failed to disclose for three months until an email was sent to a public address.

    South Korea’s Financial Innovations and Cyber Threats

    The Bank of Korea (BOK) has launched a pilot program for its first 24-hour won settlement network, designed to enable foreign investors to settle won transactions outside of South Korea’s standard banking hours. The international wire network commenced trial operations on Monday with four domestic lenders: KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank. Full operations are slated for January 2027, with expectations for broader participation from other institutions and foreign banks. The network will operate around the clock, excluding weekends and public holidays.

    Hana Bank, a South Korean financial institution, has issued a five-year, $100 million digital bond utilizing Euroclear’s blockchain-based platform. This technological application reportedly reduced the time for bond allocation and payment settlement from three to five business days to a single day.

    South Korean financial companies Kakao Pay and KakaoBank have entered into a memorandum of understanding (MoU) with crypto infrastructure provider Fireblocks to explore opportunities in digital assets, including stablecoins.

    Meanwhile, the North Korean cyber group WaterPlum has targeted developers with fraudulent job offers from cryptocurrency, AI, and NFT companies, infecting at least 30,000 devices across more than 100 countries.

    Hong Kong’s Evolving Financial Landscape and Gaming Investments

    Animoca Brands has paused its plans for a public listing through a reverse merger with Nasdaq-listed Currenc Group. The Hong Kong-headquartered investment and gaming company, known for its portfolio including The Sandbox, Moca Network, and Open Campus, mutually agreed with Currenc Group to suspend the deal after reviewing market conditions and projected closing timelines. Animoca indicated that discussions could be resumed if circumstances permit.

    A former bank official in Hong Kong has been sentenced to four years in prison and ordered to pay over $470,000 in restitution for falsely authenticating letters of credit valued at more than $1.6 billion. He also received cryptocurrency bribes.

    The Hong Kong Monetary Authority (HKMA) is upgrading its primary debt securities settlement system, the Central Moneymarkets Unit, to operate on a blockchain platform 24/7. The enhanced system is designed to accommodate central bank digital currencies (CBDCs), tokenized deposits, and stablecoins.

    Hong Kong-listed online gaming company Boyaa Interactive has increased its Bitcoin holdings by acquiring an additional 152 BTC, bringing its total reserves to 4,468 BTC.

    Saudi Arabia Exits mBridge, Singapore Leads in Crypto Investor Relocation

    Saudi Arabia has withdrawn from mBridge, a cross-border digital currency project backed by China aimed at facilitating direct transactions between central banks, according to the Financial Times. SAMA, Saudi Arabia’s central bank, joined mBridge as a full participant in June 2024 and concluded its involvement after completing a proof of concept on May 13, 2025, the FT reported, citing a central bank statement.

    Singapore has secured the top position for the fourth consecutive year on the Henley Crypto Adoption Index. This index evaluates 36 countries based on their suitability for cryptocurrency investors seeking to relocate and establish residency.

    Vietnam’s Crypto Fraud Crackdown

    In Vietnam, 56 individuals allegedly involved in a cryptocurrency fraud ring that defrauded Vietnamese investors of millions have been arrested in Cambodia and Vietnam, according to Bilyonaryo.

  • Fed Finalizes Stablecoin Rules on Reserves, Capital

    Fed Finalizes Stablecoin Rules on Reserves, Capital

    Fed Proposes Rules for Stablecoin Issuers, Emphasizing Full Backing and Capital Requirements

    The Federal Reserve is moving to establish foundational regulations for the stablecoin issuers it will oversee, proposing Thursday that these entities fully back their tokens with safe, liquid assets and maintain capital reserves to mitigate operational risks.

    The central bank has opened two proposals for public comment as it develops the regulatory framework mandated by the GENIUS Act, the stablecoin legislation signed into law by President Donald Trump in July 2025.

    The first proposal would require payment stablecoin issuers supervised by the Board to hold reserves exclusively in permissible assets, such as short-term Treasury bills and other high-quality, liquid holdings. It would also introduce standardized capital requirements to address credit and operational risks, establish risk-management standards, and outline rules for firms responsible for safekeeping the assets that back the tokens.

    The second proposal would establish a tailored application process for banks supervised by the Board that wish to issue payment stablecoins. This process would necessitate the submission of a business plan and financial information, and would define procedures for appeals, hearings, and final decisions.

    The public comment period for these proposals will conclude 60 days after their publication in the Federal Register.

    Stablecoins are blockchain-based tokens designed to maintain a stable value by being pegged to a reference asset, most commonly the U.S. dollar. Issuers back these tokens with reserves, ensuring that each token can be redeemed at its face value. They have become an integral component of the cryptocurrency ecosystem, facilitating the movement of funds between exchanges, trade settlements, cross-border payments, and the parking of assets without the need to convert back to traditional currency.

    This initiative represents the Federal Reserve’s contribution to a broader, multi-agency implementation of the GENIUS Act, which established the first federal framework for dollar-pegged tokens. The Office of the Comptroller of the Currency has been working to finalize its own stablecoin rules by November, ahead of a statutory deadline in January. Concurrently, the Treasury Department has proposed separate rules that would prohibit platforms from selling noncompliant stablecoins to U.S. customers.

    The development of these regulations comes as stablecoins are increasingly integrated into the mainstream financial system. The Trump administration has been actively promoting dollar-pegged tokens as a means to reinforce the dollar’s global dominance.

    The emphasis on full-reserve backing and bank-grade oversight is central to this strategy, aiming to ensure that stablecoins maintain their peg and are consistently redeemable at face value.