Search results for The Clearing House
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.
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.
Crypto
Banks move as stablecoins grow in battle to defend digital dollars
U.S. financial firms are preparing a joint payments infrastructure that would let bank deposits be transferred directly on blockchains, as stablecoins expand. The Clearing House is pushing a system for 24-hour clearing and settlement of tokenised deposits, linking blockchain transactions to existing fiat networks such as RTP and CHIPS. The push is supported by regulatory distinctions between stablecoins and tokenised deposits, while banks focus on preventing deposit outflows.
