Albert Szmigielski

Nellie Liang & Bill Dudley: Next steps for GENIUS stablecoins. What regulators need to do to make them trusted payments and ensure financial stability. https://lnkd.in/e8d5GgeR via The Brookings Institution Hutchins Center 

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"...The SEC also said it would consider amending its rules to allow for crypto to be traded on national securities exchanges and alternative trading systems." Pure crypto treasury companies might be at risk of needing to be real businesses 😱 #CryptoRegulation #SEC #CryptoCompliance #BlockchainPolicy #SecuritiesLaw #CryptoTreasury https://lnkd.in/eM4g9X-x

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The FPC Digital Assets Work Group has just published its latest blog on “Digital Asset and Stablecoin Regulation: U.S. Faster Payments are Shaping the Future.” Read the full post here: https://lnkd.in/gYNFNEeA #FPC #FasterPaymentsCouncil #FasterPayments #DigitalAssets #RealTimePayments #InstantPayments 

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The SEC's latest move to enable generic listing standards for spot crypto ETFs means Solana‑based ETFs may hit the market much faster. At NODE40 we're leaning into this by reinforcing our internal auditing of staking rewards, enhancing our data pipelines for derivative metrics, and ensuring proofs of custody and reserves are clean and auditable. If you build with transparency, now is the time to double‑down. #Solana #CryptoETFs #Derivatives #DataIntegrity #NODE40 https://lnkd.in/eMHaeV8p

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Some thoughts on why FiServ launched FiUSD and how stablecoins fit with "core banking" ICYMI: Fiserv said in a press release it will launch its own stablecoin, “FIUSD will be powered by the infrastructure of Paxos and Circle, and targets interoperability with other stablecoins,” and will launch on the Solana network. Fiserv also plans to work with banks on deposit tokens The partnership with PayPal is to make their two stablecoins interoperable… which is fascinating 🧠 Everyone needs a stablecoin story. Analysts are asking about it, its moving stocks, and so “announcing” something is smart PR. 🧠What do I need a “core” ledger for if I have stablecoins? There’s the small matter fo all of the assets in all of the world existing on existing core ledgers. If stablecoins are going to get liquidity that’s going to need to work well with the banking sector. Banks are becoming the ISPs of onchain finance. 🧠 Every bank would need new tech to work with their existing tech. Banks don’t replace their core in the same way you don’t replace your heart and brain in a single surgery. The existential risk is too high. 🧠Deposit tokens will find their place in the market. Onchain finance will need many funding models. Just as sponsor banks did very well in BaaS, the banks (and shadow banks) that lean into stablecoins will reap a massive opportunity. 🧠Paxos and Circle are strange bedfellows. Paxos is a major competitor to Circle, behind the USDG consortium (which Robinhood and Mastercard are a part of). It’s custodied in Singapore meaning it offers 4.1% yield. 🧠Compatibility with PYUSD is a sign of the thinking here. There’s an interoperability problem in stablecoins. Do this fix it? 🧠We’re at peak stablecoin PR surely. SoFi launched global remittances, the Visa CEO was on CNBC talking about them, Kraken launched “Krak” their stablecoin-only wallet to compete with PayPal / Wise etc

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Thomas Warsop CEO of ACI Worldwide, appeared on CNBC Europe Squawk Box this week. In a wide-ranging interview he told investors that ACI is well positioned to support stablecoins and tokenized deposits as a new payment type, enabling interoperability and clearing capabilities for financial institutions, merchants, and billers globally. https://aciw.co/4gS2rRm

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Couple of remarks on this one: 1/ From their technical properties they might be similar, but from their financial and regulatory properties they are definitely not (e.g., e-money tokens versus central bank money). As is often the case in the web3/crypto space, the terms are unfortunately overloaded, and “stablecoin” as a term suffers from this. 2/ The majority of the target audience for a digital euro isn’t on blockchain yet, and I don’t expect them to have an interest in joining anytime soon. For us enthusiasts, juggling with private keys, wallets, and protocols might be fun, but for the mainstream there are more important and interesting things in life than that. From this perspective, moving an rCBDC to Ethereum, Solana, or any blockchain doesn’t seem to reach the intended primary audience: the citizens of Europe. 3/ While I find the idea of serving multiple platforms with the r/wCBDC (including public/permissionless ones) interesting, I am surprised to see how an article in the Financial Times, based purely on hearsay and without clear sources, about the ECB supposedly considering issuing the digital euro on Ethereum or Solana is spreading through the entire industry as if it were fact.

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Ondo Finance’s short-term U.S. Treasury fund, OUSG, has become the largest investor in Fidelity’s tokenized money market fund, FDIT. This investment signifies a major step in the convergence of traditional.... - https://lnkd.in/di_ZyuE3 #crypto #bitcoin #blockchain #cryptonewsmax

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Today, OFAC targeted a $600M Iranian shadow banking network using crypto for sanctions evasion. The network facilitated $100M+ in crypto purchases tied to Iranian oil sales between 2023-2025, benefiting IRGC-QF and Iran's Ministry of Defense. Read more on our blog: https://lnkd.in/esjkK-me

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US$ 300 Billion - We are thrilled to see that Senate passes GENIUS Stablecoin bill, giving crypto industry first major legislative win. The GENIUS Act establishes the first federal framework for dollar-pegged stablecoins, granting sweeping authority to the Department of Treasury and opening the door to banks, fintechs, and retailers. Democrats failed to secure a provision barring the president from profiting, even as Trump disclosed earning $57 million from token sales in 2024 alone. Industry giants like Amazon and Walmart are reportedly moving toward stablecoin-style offerings as payment networks brace for disruption. The Senate on Tuesday passed the GENIUS Act, a landmark bill that for the first time establishes federal guardrails for U.S. dollar-pegged stablecoins and creates a regulated pathway for private companies to issue digital dollars with the blessing of the federal government. The bill passed with a 68-30 vote. It’s a milestone day for the crypto industry, which put around $250 million into the 2024 cycle to elect what’s now considered to be the most pro-crypto Congress in U.S. history, and for President Donald Trump’s sprawling digital asset empire. “The GENIUS Act will protect consumers, enable responsible innovation, and safeguard the dominance of the U.S. dollar,” said Sen. Kirsten Gillibrand, D-N.Y., one of the sponsors of the bill, in a statement. The bill still faces hurdles in the Republican-held House, but passage in the Senate signals a turning point — not just for the technology, but for the political clout behind it. The GENIUS Act, short for the Guiding and Establishing National Innovation for U.S. Stablecoins Act, sets guardrails for the industry, including full reserve backing, monthly audits, and anti-money laundering compliance. It also opens the door to a broader range of issuers, including banks, fintechs, and major retailers looking to launch their own stablecoins or integrate them into existing payment systems.

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As stablecoins go mainstream, ratings could be key. Chuck Mounts from S&P Global explains why institutional-grade stablecoins could require formal ratings, while retail-focused ones may not. A two-tier future? 👇 Hosted by Raza Zaidi / Scroll on Stable School 🎓

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