FDIC Lays Out Guidelines for Institutions Issuing Stablecoins
Stablecoins
”The Federal Deposit Insurance Corp., which backs deposits at thousands of US banks, is laying out its guidelines for how those institutions and their fintech subsidiaries can use stablecoins as digital currencies become more widely accepted in the financial system. New guidelines would seek to establish requirements related to reserve assets, redemptions of outstanding stablecoins, permissible activities and capital, among others, FDIC Chair Travis Hill said Tuesday in prepared remarks at the agency’s board meeting in Washington. The move, which is subject to public comment, is part of rulemaking efforts by FDIC, Office of the Comptroller of the Currency and the Federal Reserve after last year’s passage of the Genius Act, which requires stablecoin issuers to formally register and hold dollar-for-dollar reserves. In December, the FDIC launched a framework for how banks can apply to issue payment stablecoins via a subsidiary. The Comptroller of the Currency set out its own measure in February.”
Source: Bloomberg
CME Group to Offer 24/7 Crypto Derivatives Trading May 29, Adding Avalanche and Sui Contracts
Exchanges
“CME Group’s cryptocurrency futures and options products will be made available for round-the-clock trading beginning on May 29. The move is a significant advancement for the major regulated, centrally cleared U.S. marketplace as other traditional trading venues work to align with crypto's non-stop nature. Many crypto-native derivatives exchanges offer 24/7 trading, including the largest global platform, Binance Futures. Late last year, Coinbase Derivatives announced it would expand non-stop trading for its bevy of 'perp-style' altcoins after initially unveiling 24/7 Bitcoin and Ethereum futures trading in May and perp-style futures in July, marking a first for a CFTC-regulated exchange. Coinbase had recently acquired Deribit.”
Source: The Block
Coinbase Plans Australia Expansion After Securing License
Exchanges
“Coinbase Global Inc., the largest US cryptocurrency exchange, said it plans to expand into equity trading and payments in Australia after receiving a financial services license. The company has been granted an Australian Financial Services License with a retail derivatives authorization by the Australian Securities and Investments Commission, Coinbase said in a statement Wednesday, adding it’s the first crypto exchange to receive this approval directly from ASIC. The firm will initially launch crypto and equity perpetuals trading before looking to expand into futures, options and equity trading and payments, John O’Loghlen, the company’s Asia Pacific managing director, said in an interview. Perpetuals are derivative contracts that don’t expire. He declined to offer a time-line for the roll-out of the services.”
Source: Bloomberg
GSR Partners With SC Ventures-backed Tokenization Firm Supporting Its Web3 'Investment Bank' Strategy
Tokenization
“GSR is making a lead investment in Libeara, an SC Ventures-backed tokenization platform, as the prominent market maker doubles down on its tokenization thesis. The move comes on the heels of GSR’s dual acquisition of Autonomous and Architech to flesh out its token advisory business. With those acquisitions, GSR has positioned itself as one of the few firms that can offer full token lifecycle management, from strategic pre-launch planning to liquidity management after the fact. 'What we didn't have was the actual tokenization capability — the 'press the button' and tokenize platform,' GSR Chief Legal and Strategy Officer Joshua Riezman told The Block in an interview. 'Instead of buying, we're partnering with this SC Ventures incubated company that's shown a lot of success.'”
Source: The Block
US SEC Enforcement Activity Drops Dramatically as Agency 'Resets'
Regulation
“Enforcement cases brought by the U.S. Securities and Exchange Commission fell more than 20% in the latest fiscal year as the regulator 'recentered' its enforcement program, the agency said on Tuesday. The SEC brought 456 enforcement actions in the fiscal year that ran through the end of September, the agency said in a long-awaited annual enforcement report. The regulator brought nearly half of those actions before the start of the Trump administration in January 2025, SEC data showed. Total monetary penalties surged to a whopping $17.9 billion, largely due to a final judgment in a Ponzi scheme case the SEC originally brought in 2009. Excluding that case, the SEC levied penalties and disgorgement of $2.7 billion.”
Source: Reuters
