Stablecoins pose a real risk to bank deposits, both globally and in the United States, according to a fresh assessment by Standard Chartered’s digital assets research team. The analysis comes as the US CLARITY Act, a bill targeting stablecoin yields, remains delayed—a sign that policymakers continue to scrutinize how stablecoins interact with traditional banking. The bank’s researchers estimate that US bank deposits could shrink by as much as a third of the current stablecoin market cap, a sector measured at roughly $301.4 billion in dollar-pegged coins, according to CoinGecko. Beyond the numbers, the report maps how regional banks could bear a larger share of the deposit outflow risk compared with more diversified or investment-focused institutions. The findings arrive as Coinbase withdraws support for the CLARITY Act and Circle’s CEO dismisses fears of bank runs as unfounded, underscoring a deeply polarized policy debate around stablecoins and banking stability. Key takeaways Regio...

Recent geopolitical and economic crises in Venezuela and Iran have reignited debate over the dual roles of stablecoins, especially those backed by the US dollar, such as Tether. While they serve as vital tools for citizens to hedge against inflation and economic instability, they also present challenges by enabling sanctions evasion for sanctioned entities. Key Takeaways Iran faces widespread protests amid a collapsing rial and increased internet restrictions, leading citizens to increasingly rely on stablecoins like Tether. Iranian authorities have imposed caps on stablecoin holdings, yet illicit use persists, notably by the Islamic Revolutionary Guard Corps (IRGC), which reportedly moved over a billion dollars’ worth of stablecoins via front companies. Venezuelans have adopted USDT extensively, often using it for everyday transactions due to distrust in banks amidst hyperinflation and economic decline. Tether actively collaborates with U.S. authorities to blacklist wallets associated...

Crypto Stablecoin Issuer Tether Pursues Acquisition of Juventus Football Club In a bold move that could redefine crypto involvement in traditional sports, Tether has announced a bid to acquire a controlling stake in Juventus Football Club, one of Italy's most prestigious soccer teams. Despite its efforts, the bid has been reportedly declined, highlighting the complexities at the intersection of digital finance and high-profile sports assets. Key Takeaways Tether has submitted a binding all-cash offer to Exor, the holding company of the Agnelli family, for its 65.4% stake in Juventus. The proposed acquisition involves an investment of 1 billion euros ($1.1 billion), aimed at supporting the club's growth and development. Juventus, with a market capitalization of approximately 944.49 million euros ($1.1 billion), has yet to accept the offer, as reports indicate the club is not for sale. Tether's strategic move underscores its broader ambitions beyond stablecoins, venturing int...

Australia Changes Regulations to Support Stablecoin and Wrapped Token Markets The Australian Securities and Investments Commission (ASIC) has announced the approval of new exemptions aimed at streamlining the distribution of stablecoins and wrapped tokens within the country. These measures are intended to foster innovation and facilitate growth in the digital asset and payment sectors, signaling a more progressive regulatory approach for crypto businesses operating on Australian soil. Under the new framework, intermediaries involved in the secondary distribution of certain stablecoins and wrapped tokens will benefit from “class relief,” eliminating the need for separate and often costly licensing. This development allows companies to utilize omnibus accounts with proper record-keeping, enhancing operational efficiency. The reforms also extend prior stablecoin relief by removing the requirement for intermediaries to hold separate Australian Financial Services licenses when providing ser...