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Wyoming launches state-backed stablecoin as public finance experiment

cryptonews — Thu, 08 Jan 2026 08:48:27 +0000

Wyoming has launched FRNT, the first stablecoin issued and backed by a US state government.
The dollar-pegged token is fully backed by cash and Treasuries and managed by Franklin Templeton.
Interest from reserves is directed to Wyoming public schools rather than token holders.

Wyoming has formally entered the digital asset market by issuing the first stablecoin created and backed by a US state government.

The launch places a publicly managed dollar-pegged token directly onto open crypto networks, marking a shift from privately issued stablecoins that currently dominate the market.

Known as the Frontier Stable Token (FRNT), the project reflects years of legal and technical groundwork and positions Wyoming as a testing ground for how blockchain-based money could function inside public finance systems.

The token’s debut also arrives as US regulators continue to debate how digital dollars should be governed, leaving states to explore their own approaches within existing frameworks.

How the token enters crypto markets

The Frontier Stable Token went live on January 7, according to an announcement carried by Wyoming Public Media and confirmed by the state’s Stable Token Commission.

Trading is initially available on Kraken, a Wyoming-based cryptocurrency exchange, with issuance beginning on the Solana blockchain.

While Solana is the first network used, the token has been designed for broader reach.

Through Stargate, the stablecoin can move to Ethereum, Arbitrum, Avalanche, Base, Optimism, Polygon, and Solana.

This multi-chain structure allows the token to circulate beyond a single ecosystem, increasing its potential use across decentralised finance applications and payment rails without being locked into one network.

Backing structure and reserve controls

Wyoming has allocated $6 million to the project so far, with further funding still under discussion as public trading begins.

The reserves backing the token are held in a Wyoming-chartered trust and managed by Franklin Templeton.

Those reserves are reported to be fully backed, consisting of US dollars, cash equivalents, and short-term US Treasury securities.

Rather than being distributed to token holders, interest generated from the reserve assets is directed to Wyoming public schools.

Why holders receive no yield

At launch, the stablecoin does not offer yield to users who hold it.

State officials have linked this decision to regulatory uncertainty in the US surrounding interest-bearing digital assets.

By avoiding yield payments, Wyoming aims to reduce legal risk while federal rules remain unsettled.

Officials have indicated that the structure could be revisited in the future if clearer guidance emerges at the national level. Any changes would depend on how regulators define the boundaries between stablecoins, securities, and banking products.

Testing payments inside government systems

Beyond acting as a digital dollar, the stablecoin is also being explored as a payment tool for government services.

Wyoming officials have highlighted the cost of card processing fees, which can significantly reduce net revenue for local administrations.

In counties with high transaction volumes and fixed margins, these fees are seen as a growing strain.

By settling payments on-chain, the state is examining whether digital tokens could lower costs and speed up settlement while keeping more value within public systems.

The public launch follows several delays over the past year, although no technical or liquidity issues have been reported so far.

Early trading volumes remain modest, which is typical for a newly issued stablecoin, particularly one issued by a government.

The Wyoming Stable Token Commission is scheduled to meet on January 15 to review early performance and discuss next steps as the experiment moves forward.

The post Wyoming launches state-backed stablecoin as public finance experiment appeared first on CoinJournal.

Wyoming launches state-backed stablecoin as public finance experiment

Source: https://coinjournal.net/news/wyoming-launches-state-backed-stablecoin-as-public-finance-experiment/

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research (DYOR).

South Korea delays digital asset law as stablecoin oversight divides regulators

cryptonews — Wed, 31 Dec 2025 05:29:17 +0000

South Korea delays its Digital Asset Basic Law to 2026 amid disputes over stablecoin oversight authority.
Lawmakers pause crypto legislation as regulators clash on who should control stablecoin reserves and enforcement.
Regulatory uncertainty grows as Korea weighs investor protection against monetary control and innovation.

South Korea’s push to formalise crypto regulation has slowed again, with authorities confirming that the Digital Asset Basic Law will not be submitted until 2026.

The delay highlights deep divisions over how stablecoins should be supervised in one of Asia’s most active digital asset markets, even as crypto products become more tightly linked to the wider financial system.

The setback does not reflect a lack of interest in regulation.

Instead, it underlines how complex stablecoin oversight has become for policymakers, balancing innovation, financial stability, and monetary control.

With no agreement yet on who should hold ultimate authority, lawmakers have opted to pause rather than advance a bill with unresolved structural gaps.

Purpose of the proposed law

The Digital Asset Basic Law is intended to act as the backbone of South Korea’s crypto framework.

A core aim is investor protection, achieved by holding digital asset operators to stricter legal standards than before.

One of the most significant proposals is the introduction of no-fault liability, which would make operators responsible for user losses even if negligence cannot be proven.

Another pillar of the bill focuses on reducing systemic risk from stablecoins. The draft requires issuers to maintain reserves exceeding 100% of the circulating supply.

These reserves must be held at banks or approved institutions, with clear separation from the issuer’s own balance sheet.

The structure is designed to limit contagion risks if a stablecoin issuer fails.

Stablecoins and regulatory control

Stablecoins have emerged as the main fault line in the debate. While regulators broadly agree that stronger oversight is necessary, they remain split on who should enforce reserve rules and supervision.

The Financial Services Commission and the Bank of Korea have yet to align on how responsibilities should be divided.

These disagreements have complicated decisions around licensing, enforcement powers, and the treatment of reserve assets.

Rather than pushing through a compromised framework, authorities have delayed the bill to allow further coordination between financial regulators and monetary authorities.

Market uncertainty grows

The postponement has not triggered an immediate market reaction, but it adds another layer of uncertainty for crypto firms operating in South Korea.

Exchanges, payment providers, and stablecoin issuers continue to expand in an environment where long-term regulatory expectations remain unclear.

Uncertainty can have practical effects.

Firms may slow product launches, delay investment decisions, or consider shifting certain operations to jurisdictions with clearer rules.

For investors, the absence of a completed framework complicates assessments of risk and compliance.

Politics and monetary strategy

Political dynamics are also shaping the timeline. The ruling Democratic Party is now working to merge several lawmaker proposals into a revised digital asset bill.

At the same time, strategic concerns around monetary sovereignty are becoming more prominent.

President Lee Jae Myung has identified a Korean won-backed stablecoin as a national priority, arguing that it could counter the growing dominance of US dollar-linked stablecoins in global crypto markets.

These ambitions increase pressure on regulators to ensure that any framework aligns with broader monetary policy goals.

The delayed Digital Asset Basic Law is meant to represent the second phase of South Korea’s crypto regulation.

The first phase, already in force, targeted unfair trading practices.

The post South Korea delays digital asset law as stablecoin oversight divides regulators appeared first on CoinJournal.

South Korea delays digital asset law as stablecoin oversight divides regulators

Source: https://coinjournal.net/news/south-korea-delays-digital-asset-law-as-stablecoin-oversight-divides-regulators/

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Indonesia lists 29 licensed crypto platforms as global players eye market

cryptonews — Tue, 23 Dec 2025 06:50:27 +0000

Indonesia’s regulator has published a whitelist of 29 licensed crypto platforms.
Indonesia has taken a decisive step to clarify who can legally operate in its fast-growing crypto market.
Global firms such as Robinhood and OSL Group are expanding into Indonesia amid clearer rules.

Indonesia has drawn a clearer legal boundary around its fast-growing crypto market.

The Financial Services Authority (OJK) has released an official whitelist of licensed digital asset platforms, setting out which exchanges are legally allowed to operate in the country.

The move gives investors a single reference point to check whether a crypto provider is authorised and signals a more structured phase of oversight for digital assets.

It also arrives as global firms step up efforts to enter Southeast Asia’s largest economy, where crypto participation has expanded rapidly alongside traditional capital markets.

The whitelist names 29 approved entities and their associated applications or platforms.

According to Otoritas Jasa Keuangan, the list is intended to help the public distinguish between licensed operators and those that are not authorised.

Users have been urged to trade only with platforms included on the list and to treat any unlisted services as unlicensed operators.

Whitelist reshapes crypto access

By publishing a formal register, the regulator has effectively tightened the gateway into Indonesia’s crypto ecosystem.

Until now, retail users often relied on fragmented information to verify whether an exchange was compliant.

The whitelist consolidates this process, offering a regulator-backed reference that places responsibility on platforms to maintain their licensed status.

The announcement also gives enforcement greater clarity.

Platforms operating outside the list are now explicitly positioned as unauthorised, strengthening the regulator’s hand in tackling illicit or non-compliant activity across digital asset markets.

Global firms move into Indonesia

The regulatory clarity comes as international crypto and trading firms seek exposure to Indonesia’s expanding investor base.

Earlier this month, Robinhood signed agreements to acquire Indonesian brokerage Buana Capital and licensed digital asset trader PT Pedagang Aset Kripto.

The transactions provide the company with a direct route into a market that counts more than 19 million capital-market investors and around 17 million crypto traders.

In September, Hong Kong-based OSL Group completed its acquisition of local exchange Koinsayang.

The deal secured regulatory approval for OSL to offer both spot and derivatives trading services in Indonesia, reinforcing the country’s appeal to established regional players.

Rules tighten around digital assets

The whitelist follows OJK Regulation No. 23/2025, which introduces stricter controls over digital financial assets, including crypto and related derivatives.

Under the regulation, exchanges are barred from facilitating trades in assets that are not registered or approved by a licensed digital asset exchange.

The framework also formalises the treatment of digital asset derivatives. Exchanges must obtain prior approval from the regulator before offering such products.

In addition, platforms are required to implement margin mechanisms using segregated funds or digital assets, while consumers must pass a knowledge test before accessing derivatives trading.

The regulator has said these measures are designed to align Indonesia’s market with international supervisory standards and enhance investor protection.

The post Indonesia lists 29 licensed crypto platforms as global players eye market appeared first on CoinJournal.

Indonesia lists 29 licensed crypto platforms as global players eye market

Source: https://coinjournal.net/news/indonesia-lists-29-licensed-crypto-platforms-as-global-players-eye-market/

Bybit returns to UK crypto market after 2 years

cryptonews — Sat, 20 Dec 2025 07:14:38 +0000

The exchange restarted access on Thursday, including spot trading across 100 currency pairs.
FCA financial promotion rules introduced in October 2023 led several crypto firms to end UK operations.
The UK government has said it intends to establish a crypto rulebook by 2027.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, says it has restarted services in the UK, nearly two years after tougher rules on the promotion and marketing of crypto products pushed firms to pull back.

The company, which says it has around 80 million users globally, relaunched UK access on Thursday with a set of products that includes spot trading across 100 currency pairs, reports CoinDesk.

The move comes as the Financial Conduct Authority continues to scrutinise how crypto services are advertised to British residents, while the UK government has signalled it wants a fuller crypto rulebook in place by 2027.

Why Bybit left and what changed

The FCA tightened its financial promotion regime for crypto advertising in October 2023, triggering a wave of operational changes across the industry and prompting several firms to end UK activity.

According to CoinDesk, Bybit said its return is built around meeting FCA financial promotion standards, with an emphasis on clearer communications and transparency for UK users.

The company is not licensed in the UK, but says it is operating within a framework designed to comply with the FCA’s requirements for promotions.

That framework matters because, under the rules, crypto marketing aimed at UK consumers must be approved by an authorised firm unless an exemption applies.

What UK users can access now

Bybit said UK customers can again use its services, including spot trading across 100 currency pairs, notes CoinDesk.

The exchange described the restart as a reopening of UK services rather than a limited pilot, positioning it as a return to the market after the regulatory shift.

Bybit’s policy team framed the UK as a market with a sophisticated financial ecosystem and a clearer regulatory direction, saying the exchange intends to introduce products tailored for UK users while prioritising transparency and compliance.

How Archax is enabling compliant crypto promotion

To support its UK activity, Bybit will operate and market its services via London-based crypto exchange Archax.

Archax holds a specific FCA permission that allows it to approve financial promotions, a route that can enable unauthorised firms to legally market and provide services to UK consumers.

Archax said it is supporting Bybit’s compliant access to the UK market and pointed to prior work helping other large exchanges, states CoinDesk, including Coinbase and OKX, reach UK users without needing their own authorisation.

What the 2027 crypto rulebook signal means

Alongside the FCA’s stricter approach to promotions, the UK government has said it intends to establish a crypto rulebook by 2027.

That announcement has fuelled expectations of a more defined operating environment for exchanges, even as marketing standards remain a key gatekeeper for consumer-facing activity in the near term.

Industry watchers see the arrangement as another test case for how large global crypto platforms re-enter the UK without holding direct regulatory authorisation under evolving financial promotion oversight regimes globally.

The post Bybit returns to UK crypto market after 2 years appeared first on CoinJournal.

Bybit returns to UK crypto market after 2 years

Source: https://coinjournal.net/news/bybit-returns-to-uk-crypto-market-after-2-years/

Why the European Commission wants to seize control of crypto oversight

cryptonews — Mon, 17 Nov 2025 07:46:46 +0000

MiCA currently lets companies gain cross-border access via a single national licence.
National regulators and firms fear a loss of control and added bureaucracy.
France, Austria and Italy have backed ESMA’s expanded role for large firms.

The European Commission is preparing to give the European Securities and Markets Authority sweeping powers over the crypto sector.

If approved, ESMA would become the sole body responsible for supervising all crypto asset service providers in the European Union, reported Bloomberg.

The proposal marks a significant change to how the bloc regulates digital assets, placing oversight in the hands of a central authority rather than relying on 27 national regulators.

This draft plan, expected to be announced next month, comes just months before the full implementation of the Markets in Cryptoassets Regulation.

MiCA, passed in 2023, is set to become the EU’s flagship framework for crypto regulation.

Under MiCA, companies currently only need a licence in one member state to operate across the bloc.

This structure has been the result of years of work by both regulators and firms.

MiCA faces uncertainty

MiCA was designed to provide legal clarity and consistency across the EU.

It allows firms to gain authorisation in a single country and use that to offer services in other EU states. This system is known as passporting.

The goal was to reduce fragmentation and streamline operations for businesses.

But the Commission’s new plan would override this process by giving ESMA direct responsibility for approving and monitoring all providers, regardless of where they are based.

The draft proposal suggests ESMA could delegate tasks back to national authorities when needed.

However, the central point of contact would still be ESMA. This change has raised concerns from those involved in the rollout of MiCA.

With the implementation window closing in 2024, firms and local regulators worry that shifting the framework now could cause delays and confusion.

Critics argue that restarting the discussion around MiCA could undermine legal certainty.

Others say that moving responsibilities to ESMA without enough resources could weaken enforcement.

The proposal still needs support from both the European Parliament and the Council of the EU before it becomes law.

Pushback from regulators

The Commission’s move has not gone unnoticed by crypto industry bodies. Many believe that local regulators are better equipped for day-to-day engagement with firms.

Blockchain for Europe, an industry group, has warned that centralising control at this stage would divert attention from the task of getting MiCA running smoothly.

Some consultants have also pointed out that ESMA would require more staff and funding to take on such a role.

National authorities have already invested heavily in building teams and expertise to meet MiCA’s demands.

Replacing that with a central process could result in delays in licensing and supervision.

ESMA chair Verena Ross said earlier this year that the current structure, with 27 separate supervisors preparing for the same task, may not be the most efficient model.

France backs centralised model

France, along with EU institutions, has pushed hardest for expanding ESMA’s powers.

In September, regulators from France, Austria and Italy called for ESMA to supervise major crypto firms directly, while smaller companies could remain under national watch.

This idea would create a two-tier system and offer a compromise between full centralisation and local control.

The proposal is part of a wider trend in the EU to centralise financial oversight.

Brussels has also suggested giving ESMA control over clearing houses, trading venues, and depositories.

However, some countries have resisted, arguing that giving up national control could create unnecessary bureaucracy and reduce flexibility.

The urgency of reform increased in July when ESMA raised concerns about Malta’s crypto licensing practices.

The Maltese regulator had issued MiCA approvals to several firms, prompting questions about consistency and due diligence across the EU.

This incident added weight to the argument for a more unified supervisory model.

As the Commission finalises its proposal, the crypto sector remains on edge.

Businesses are waiting to see whether their licensing and regulatory future will remain at the national level or shift entirely to an EU-wide body.

The post Why the European Commission wants to seize control of crypto oversight appeared first on CoinJournal.

Why the European Commission wants to seize control of crypto oversight

Source: https://coinjournal.net/news/why-the-european-commission-wants-to-seize-control-of-crypto-oversight/

Crypto firm Xeltox fined record C$177M by Canadian AML regulator

cryptonews — Fri, 24 Oct 2025 05:53:51 +0000

Xeltox/Cryptomus fined C$177M for failing to report 1,000+ suspicious crypto transactions.
Violations involved child abuse, fraud, ransomware, and sanctions-related transactions.
Firm previously faced BC Securities Commission action over unrecognized exchange operations.

Canada’s Financial Transactions and Reports Analysis Centre (Fintrac) has imposed the largest penalty on record against Xeltox Enterprises Ltd., operating as Cryptomus, after the firm allegedly failed to comply with anti-money-laundering (AML) regulations.

The Vancouver-based cryptocurrency services provider was fined C$177 million ($126 million) for multiple violations involving suspicious transactions, according to a statement released Wednesday.

Widespread reporting failures

Fintrac’s investigation determined that Cryptomus failed to report thousands of transactions in a single month, raising serious compliance concerns.

The agency noted that the company neglected to submit reports on more than 1,000 transactions in July 2024 that raised reasonable suspicion of connections to money laundering, including proceeds linked to child sexual abuse material, fraud, ransomware payments, and sanctions evasion.

Additionally, the regulator found that Cryptomus failed to report over 1,500 transactions in which clients transferred virtual currency of C$10,000 or more in a single transaction during the same period.

These reporting lapses triggered Fintrac to take what it described as “unprecedented enforcement action,” reflecting the severity of the potential financial crime risks involved.

Fintrac CEO Sarah Paquet emphasized that the scale and nature of the violations compelled the agency to act decisively, citing the firm’s repeated failures to meet AML obligations.

Prior regulatory scrutiny on Cryptomus

Cryptomus, formerly known as Certa Payments Ltd., provides a range of cryptocurrency services including trading, payments, wallets, and a peer-to-peer exchange.

The firm has previously drawn regulatory attention in Canada.

In May, the BC Securities Commission accused Cryptomus of potentially operating as an unrecognized exchange.

The provincial regulator issued a temporary order suspending the firm from trading securities or derivatives until June, underscoring ongoing concerns about its compliance with financial regulations.

Cryptomus’s operations in Canada and its previous enforcement history highlight the challenges regulators face in overseeing cryptocurrency platforms, particularly when transactions may intersect with illicit activity.

The latest fine represents a major escalation in enforcement, signaling the Canadian authorities’ intent to hold crypto firms accountable for strict adherence to AML rules.

Implications for the cryptocurrency sector

The record-setting penalty against Xeltox and Cryptomus sends a clear signal to cryptocurrency businesses operating in Canada: compliance with anti-money-laundering regulations is mandatory, and failures carry substantial financial and operational risks.

The firm’s alleged lapses illustrate the risks posed by platforms that handle high volumes of unmonitored digital transactions.

Fintrac’s decision underscores that cryptocurrency platforms must treat regulatory compliance as a central operational priority, not an afterthought, to avoid similar penalties in the future.

The C$177 million fine represents the largest enforcement action in Fintrac’s history and sets a new benchmark for regulatory consequences in Canada’s growing digital asset industry.

The post Crypto firm Xeltox fined record C$177M by Canadian AML regulator appeared first on CoinJournal.

Crypto firm Xeltox fined record C$177M by Canadian AML regulator

Source: https://coinjournal.net/news/crypto-firm-xeltox-fined-record-c177m-by-canadian-aml-regulator/

Crypto firms in Britain may face new FCA proposals on conduct rules

cryptonews — Wed, 17 Sep 2025 15:34:03 +0000

UK’s FCA proposes easing 4 core rules for crypto firms while stressing strong operational safeguards.
Regulator cites $1.5B Bybit hack to justify tougher cyber resilience rules despite lighter principles.
Crypto ownership in Britain hits 12%; FCA seeks feedback by Nov 12 on new regulatory framework.

Britain’s financial regulator has unveiled proposals that could reshape how cryptocurrency companies operate in the country.

The Financial Conduct Authority (FCA) said on Wednesday that crypto firms might be exempted from four key principles that usually apply to financial services companies.

These rules normally ensure that businesses act with integrity, with skill and diligence, and in the best interests of customers.

The FCA’s consultation comes at a time when Britain is positioning itself as a major player in the global digital assets sector, after signalling in April that it would work with the United States on a coordinated approach.

FCA suggests easing four core principles for crypto sector

The FCA said it is considering removing four specific obligations for crypto trading platforms.

These cover requirements that firms must run their business with integrity, act with care and skill, take account of customer interests, and ensure any advice or discretionary decisions made for clients are suitable.

The regulator noted that while crypto assets remain volatile and risky, the new framework is designed to help firms meet consistent standards without stifling competition.

The regulator stressed that these adjustments are aimed at supporting the growth of the UK’s crypto industry, while still maintaining trust and market stability.

At the same time, it highlighted that crypto assets remain high-risk and consumers must continue to be protected from poor business practices.

Stronger operational risk rules after $1.5 billion hack

While easing some principles, the FCA is also proposing stricter measures on operational risk.

This move follows a $1.5 billion hack on Dubai-based exchange Bybit in February, which the regulator pointed to as an example of why “strong operational resilience controls” are needed.

The FCA wants firms to ensure they have systems in place that can withstand cyberattacks and operational failures, which are becoming more frequent as digital asset markets expand.

The consultation paper also asks whether customer access to the Financial Ombudsman Service should extend to crypto asset firms, giving clients a route to compensation when disputes arise.

In addition, it seeks feedback on whether the consumer duty—requiring firms to put customer interests first—should apply in this market.

Growing ownership of cryptocurrencies in Britain

Crypto ownership has increased sharply in Britain in recent years.

Government data shows that about 12% of adults have owned or currently own cryptocurrencies such as Bitcoin or Ethereum, compared with only 4% in 2021.

This rapid growth underscores the need for a regulatory framework that both protects customers and allows the industry to expand in a competitive environment.

The FCA is asking for feedback on its proposals by 12 November.

Any finalised rules are likely to set the tone for how Britain balances consumer protection with the ambition to build a sustainable and competitive digital asset sector.

The post Crypto firms in Britain may face new FCA proposals on conduct rules appeared first on CoinJournal.

Crypto firms in Britain may face new FCA proposals on conduct rules

Source: https://coinjournal.net/news/crypto-firms-in-britain-may-face-new-fca-proposals-on-conduct-rules/

Coinbase-backed petition pushes UK on blockchain and stablecoin policy

cryptonews — Thu, 11 Sep 2025 15:34:03 +0000

Coinbase backs UK petition urging stablecoin rules and blockchain adoption.
Petition tops 5K signatures; 10K triggers government reply, 100K a debate.
Supporters warn UK risks falling behind without clear crypto strategy.

A public petition urging the United Kingdom to adopt a pro-innovation strategy for blockchain and stablecoins has gathered momentum after crypto exchange Coinbase rallied its users to support the initiative.

The petition, which has been live on the UK government’s website since July, calls for a comprehensive framework covering stablecoin regulation, blockchain adoption, and the appointment of a blockchain “czar.”

While it initially gained little attention, interest accelerated this week after Coinbase issued in-app messages encouraging users to sign.

Screenshots shared on social media showed notifications from the exchange urging customers to “help UK lead stablecoin innovation now.”

At the time of writing, the petition had surpassed 5,000 signatures.

Once it reaches 10,000 signatures, the government is required to issue a formal response.

If the total climbs to 100,000 signatures, the proposal will be considered for parliamentary debate.

The petition remains open until March 3, 2026.

Calls for regulatory clarity and innovation

The proposal outlines three specific demands: establishing a framework for stablecoins and tokenization, promoting blockchain adoption across government functions, and designating a senior official dedicated to overseeing crypto policy.

Supporters of the petition argue that stablecoins form the foundation of a tokenized economy and that regulatory clarity is essential for the UK to remain competitive.

The petition highlights that the United States has ruled out a central bank digital currency (CBDC) in favor of stablecoins, suggesting that the UK risks falling behind without a clear strategy.

“This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing,” the petition states.

Advocates warn that without timely action, the UK may lose its edge to other jurisdictions pursuing more aggressive digital asset strategies.

Coinbase’s role in shaping UK crypto policy

Coinbase has been vocal in its campaign for clearer digital asset regulation in the UK.

In recent months, the exchange has stepped up efforts to influence public debate and policymaking.

On July 31, Coinbase released a satirical video titled “Everything is Fine.”

The video contrasted upbeat lyrics celebrating Britain’s financial system with visuals of inflation, poverty, and economic challenges, a pointed critique of the status quo.

Just days later, on August 5, former UK Chancellor and current Coinbase adviser George Osborne published an opinion piece in the Financial Times.

In the article, Osborne warned that the UK is falling behind in the global digital asset race and singled out stablecoins as an area where the country has ceded ground.

Coinbase’s support for the petition reflects its broader strategy of pressing for regulatory clarity and fostering a more favorable operating environment for digital assets in the UK.

With the petition already halfway to the government’s response threshold, the initiative underscores growing pressure on policymakers to provide direction on stablecoins and blockchain innovation.

The post Coinbase-backed petition pushes UK on blockchain and stablecoin policy appeared first on CoinJournal.

Coinbase-backed petition pushes UK on blockchain and stablecoin policy

Source: https://coinjournal.net/news/coinbase-backed-petition-pushes-uk-on-blockchain-and-stablecoin-policy/

Crypto ETF market expands with 92 filings awaiting SEC decision

cryptonews — Fri, 29 Aug 2025 09:34:18 +0000

Solana has eight ETF applications pending.
XRP follows with seven ETF applications.
Grayscale seeks to convert five trusts into ETFs.

The US Securities and Exchange Commission (SEC) now faces one of its heaviest backlogs in the digital asset space, with at least 92 cryptocurrency exchange-traded product applications awaiting review.

According to an expert, Solana (SOL) and XRP (XRP) lead the wave of filings, each with multiple applications under consideration.

The trend highlights growing institutional demand for altcoin exposure through regulated investment vehicles, even as the SEC continues to weigh its stance on crypto products.

The pace of new filings has accelerated in recent months, suggesting the market is preparing for a broader expansion of crypto ETFs.

Solana and XRP lead with 15 ETF applications

Solana and XRP have emerged as the frontrunners among altcoins in ETF interest.

Analyst James Seyffart reported that Solana currently has eight ETF applications pending, while XRP has seven.

Both tokens rank among the most actively pursued crypto assets after Bitcoin (BTC) and Ether (ETH).

Analyst Eric Balchunas noted on April 21 that 72 crypto-related ETFs were already awaiting SEC review at that time.

With the figure now at 92, a further 20 applications have been added in just four months, pointing to rising momentum across the industry.

The filings include proposals offering exposure not only to Solana and XRP but also to other altcoins, alongside three ETFs linked to Bitcoin and Ether.

Grayscale and 21Shares push for Ether staking ETFs

Two of the largest players in the digital asset space, Grayscale and 21Shares, are also part of the current SEC queue. Both are seeking approval for Ether staking ETFs.

Earlier this month, the SEC clarified that some liquid staking activities fall outside its regulatory scope, a development that may impact how such filings are assessed.

Grayscale is also pursuing a major conversion of five of its existing trusts into ETFs.

These include three publicly traded funds and two private trusts, covering exposure to Litecoin, Solana, Dogecoin, XRP, and Avalanche.

Such conversions would expand ETF access across a broader set of cryptocurrencies if approved.

Market analysts expect ETF approval to drive altcoin rally

The potential impact of SEC decisions on altcoin markets remains a key focus for traders.

Analysts at Bitfinex observed on Monday that a broader rally among altcoins is unlikely until more crypto ETFs gain approval.

This view underscores the role regulatory clarity could play in shaping institutional and retail participation in the sector.

Meanwhile, market commentators such as NovaDius Wealth Management president Nate Geraci have pointed to the sheer volume of filings as evidence of what they call “crypto ETF floodgates about to open soon”.

BlackRock dominates with $71.40 billion ETF inflows

While new applications continue to pile up, global asset manager BlackRock has already secured a commanding lead in the crypto ETF category.

Its iShares Bitcoin Trust ETF (IBIT) has attracted net inflows of $58.28 billion since launch.

Its iShares Ethereum Trust ETF (ETHA) has accumulated $13.12 billion in inflows, according to data from Farside Investors.

BlackRock’s IBIT fund now holds more than 3% of Bitcoin’s total circulating supply. A Wednesday report also indicated that ETHA may soon surpass Coinbase as the largest single holder of Ether.

Notably, IBIT now generates more annual fee revenue for BlackRock than its flagship S&P fund, iShares Core S&P 500 ETF (IVV).

This is due to the fee structure, with IBIT carrying an expense ratio of 0.25%, compared to just 0.03% for IVV.

The post Crypto ETF market expands with 92 filings awaiting SEC decision appeared first on CoinJournal.

Crypto ETF market expands with 92 filings awaiting SEC decision

Source: https://coinjournal.net/news/crypto-etf-market-expands-with-92-filings-awaiting-sec-decision/

XRP gains legal clarity in US after Ripple settles SEC case

cryptonews — Fri, 08 Aug 2025 21:34:18 +0000

Settlement confirms XRP is not a security in the US.
Analysts see potential for a BlackRock XRP ETF.
Bitcoin maximalists renew criticism of XRP.

Ripple’s multi-year legal battle with the US Securities and Exchange Commission reached a decisive conclusion this week, triggering a sharp rally in XRP’s price and trading volume.

The settlement confirmed that Ripple’s past programmatic and institutional sales of XRP were lawful, removing a major source of uncertainty that had weighed on the token since the lawsuit began.

Within hours of the news, XRP surged 5.21% to $3.22, while trading volume climbed 164.43%, signalling renewed confidence from both retail and institutional traders.

Source: CoinMarketCap

Analysts say the ruling could reshape market perceptions of XRP and potentially pave the way for future institutional products tied to the asset.

Ripple settles XRP sales dispute with SEC

Pro-XRP lawyer Bill Morgan announced that the legal dispute over Ripple’s previous programmatic and institutional XRP sales has been resolved with the SEC.

The clarification confirms that these sales were compliant under US law, establishing that XRP itself is not a security.

This development follows years of litigation that placed XRP under intense regulatory scrutiny, with Ripple and its community consistently challenging the SEC’s stance.

The resolution has been widely interpreted as a significant turning point for the asset, particularly in the United States market.

Analysts note that the combination of legal clarity and increased liquidity could drive more institutional participation in the months ahead.

Market impact and institutional prospects

The latest ruling has bolstered expectations that large financial institutions may reconsider their stance on XRP.

Some market commentators have even suggested that asset management giant BlackRock could explore an XRP exchange-traded fund, a move that would broaden access to the token for mainstream investors.

While no official ETF filing has been made, industry experts believe XRP’s regulatory clarity gives it a competitive advantage over other digital assets still facing classification uncertainty.

This could help position XRP as a viable option for both cross-border payment solutions and investment products.

Ongoing friction with Bitcoin advocates

The settlement has reignited debates between the XRP and Bitcoin communities. Bitcoin-only advocates have continued to brand altcoins as securities, with MicroStrategy chairman Michael Saylor repeatedly asserting that only Bitcoin qualifies as a commodity.

Morgan pushed back against these claims, highlighting XRP’s performance since its launch, which he calculated as exceeding 50,000% growth.

He also responded to recent criticism from Bitcoin maximalists such as Adam Livingston, who alleged that Ripple could use banks to offload XRP onto retail investors.

XRP price and adoption potential

Traders are now monitoring whether XRP can sustain its upward momentum. The recent surge, combined with the removal of legal uncertainty, has given the asset a stronger market position.

However, the cryptocurrency landscape remains highly competitive, and community sentiment continues to influence market moves.

If institutional interest materialises, analysts expect XRP could see further demand growth, especially if new investment products are introduced.

The ruling may also spark fresh regulatory conversations around the status of other digital assets, potentially influencing the broader crypto market.

The post XRP gains legal clarity in US after Ripple settles SEC case appeared first on CoinJournal.

XRP gains legal clarity in US after Ripple settles SEC case

Source: https://coinjournal.net/news/xrp-gains-legal-clarity-in-us-after-ripple-settles-sec-case/