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Crypto

U.S. OCC final rules on GENIUS Act stablecoin rewards split banks and crypto industry

U.S. banks and the crypto industry are reacting in opposite ways after the Office of the Comptroller of the Currency finalised rules on stablecoin rewards under the GENIUS Act. Bank groups say allowing third-party rewards could pull money from deposits and weaken lending capacity, while crypto groups call the decision closer to Congress’ original intent. The rules take effect on Jan. 18, 2027, and some analysts say uncertainty over what structures are allowed may persist.

Crypto

Bitcoin holds $80,000 as stablecoin payments spread

Over the past week, the global crypto market’s key theme was resilience. Bitcoin held $80,000 despite a CPI shock, while XRP defended $1.30 even as public interest faded. Investors are watching U.S. PMI data and the Oct. 27-28 FOMC, as well as Ripple’s Swell event. Stablecoins and tokenisation are spreading into mainstream payment rails. In South Korea, tax deferral bills and a forthcoming digital assets framework are emerging variables.

Crypto

Circle targets Southeast Asia, Latin America, Africa and Middle East, plans entry into 40 emerging markets

Circle is pushing to enter about 40 emerging markets, focusing on Southeast Asia, Latin America, Africa and the Middle East. CEO and chairman Jeremy Allaire (제러미 알레어) said demand for stablecoins is rising as companies and individuals seek to join internet-based economic systems. He said the blockchain industry is moving from early adoption to mass adoption. Bernstein said USDC has gained transaction-share, and Circle agreed to acquire Singapore-based cross-border payments platform Tazapay for $400 million in an all-stock deal.