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Crypto

U.S. banks face pressure to curb stablecoin returns; a16z says it could backfire

Opposition by U.S. banks to the CLARITY bill could weaken their own position, a16z crypto policy head and general counsel Miles Jennings said. He argued that the GENIUS Act is already in force and has accelerated on-chain dollar movement, with other real-world assets likely to follow regardless of CLARITY. If CLARITY fails, he said, stablecoin deposit yield structures banks oppose would remain. Banking groups have urged stricter bans on interest-like rewards for holding stablecoins.

Crypto

OpenUSD aims to reshape stablecoin revenue model, compete head-on with USDC

OpenStandard has unveiled OpenUSD, a stablecoin that shares reserve income with distribution and payment partners rather than paying returns directly to holders. The project is positioned as a shared infrastructure with more than 140 named partners, including Visa, Stripe and Coinbase. Key disclosures such as supply, redemption history and reserve details have not been released, with launch expected in late 2026. The model comes as U.S. policymakers debate restricting yield on payment stablecoin balances.

Crypto

U.S. banks call for stablecoin rules to cover secondary market trading

U.S. banking groups have urged regulators to clearly extend anti-money laundering rules for stablecoins beyond issuance to secondary market trading. The crypto industry has pushed back, warning that imposing responsibility for transactions issuers cannot control could shrink the DeFi ecosystem. The debate centres on who should monitor transfers after issuance, including movements between exchanges, DeFi protocols and private wallets, and how far regulatory responsibility should reach.