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Crypto

Global debt hits $365 trillion as stablecoin issuers emerge as major buyers of U.S. Treasuries

Global debt rose to a record $365 trillion early this year, the Institute of International Finance said in a global debt monitor. It attributed the increase to more borrowing by emerging markets, AI infrastructure investment and military spending. Separately, economists at the San Francisco Federal Reserve said the buyer base for U.S. Treasuries has shifted as foreign holdings fall. They said stablecoin issuers have rapidly increased holdings of short-term Treasuries.

Crypto

Fed releases stablecoin rules as debate flares over digital asset taxation

The digital asset market focus shifts from legislation to rulemaking as U.S. agencies move after the Clarity Act stalls in the Senate. The Federal Reserve unveiled a framework to require payment stablecoin issuers to fully back tokens with permitted reserve assets, ahead of the GENIUS Act taking effect in 2027. Bitcoin struggled as 10-year Treasury yields hit a 19-year high. In South Korea, debate resurfaced over digital asset income tax due in 2027.