Crypto
U.S. CBDC ban enlarges stablecoin arena as Circle, Tether and banks compete
A U.S. bill passed by Congress blocks the Federal Reserve from issuing a central bank digital currency until the end of 2030, reshaping the digital dollar race around private players. The move could accelerate competition between stablecoin issuers such as Circle and Tether and banks building tokenised deposit networks. Banks argue deposits underpin lending and have warned of large outflows if rules are misdesigned. Officials disagree on whether tokenised deposits can displace stablecoins.
