The stablecoin will leverage blockchain technology to provide a trusted digital payment standard across Europe. The digital currency will enable fast, low-cost, 24/7 payments, cross-border settlements, and more efficient digital asset and supply chain management.
Its introduction is expected in the second half of 2026, with regulatory oversight from the Dutch Central Bank as an e-money institution.
The initiative aims to create a European alternative to US-dominated stablecoins, strengthening Europe’s strategic autonomy in payments. Banks can offer services like stablecoin wallets and custody, boosting adoption and innovation in financial services.
Floris Lugt, Digital Assets lead at ING, highlighted the importance of collaboration: ‘Digital payments can bring transparency and efficiency through blockchain’s programmability and instant settlement. An industry-wide approach is essential, and banks must adopt common standards to succeed.’
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The Commodity Futures Trading Commission (CFTC) has announced a new initiative to allow tokenised collateral, including stablecoins, in derivatives markets.
Acting Chairman Pham said the move follows the February 2025 Crypto CEO Forum and advances the President’s Working Group report. The aim is to modernise collateral management, improve capital efficiency, and strengthen blockchain’s role in US financial markets.
Industry leaders said stablecoins like USDC can lower costs, unlock liquidity, and offer round-the-clock market access. Circle, Coinbase, Crypto.com, Ripple, and Tether praised the CFTC for providing clear rules on valuation, custody, and settlement for tokenised collateral.
Stablecoins are seen as a key part of modern finance, offering faster settlement, deeper liquidity, and greater market resilience. Experts said the initiative will strengthen US leadership in financial innovation and improve institutional efficiency and transparency.
The CFTC is inviting public feedback on the use of tokenised collateral, including stablecoins, in derivatives markets. Submissions will help shape regulations, pilot programmes, and advisory committee recommendations.
Comments can be submitted through the CFTC website until 20 October 2025, with all contributions published online.
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Eurojust has coordinated a large-scale operation to dismantle a cryptocurrency fraud scheme worth more than €100 million across Europe. The action, requested by Spanish and Portuguese authorities, resulted in the arrest of five suspects, including the alleged mastermind.
Victims from Germany, France, Italy, Spain and other countries were lured into false investment platforms promising high returns.
Investigations revealed that funds were funnelled mainly through Lithuanian bank accounts to launder the illicit proceeds. Victims were later asked to pay additional fees to recover their money, after which the fraudulent websites vanished, leaving many with severe losses.
The scheme has been running since 2018, affecting people in 23 countries.
Authorities in Spain, Portugal, Italy, Romania and Bulgaria conducted searches and froze bank accounts and financial assets. Eurojust backed a Spain-Lithuania investigation team, while Europol sent a cryptocurrency expert to support operations in Portugal.
The coordinated action also relied on European Arrest Warrants, Investigation Orders and freezing orders. National agencies and prosecutors across Europe united in one of the most significant efforts against cryptocurrency fraud.
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Implementation of CARF in the UAE is scheduled for 2027, with the first exchange of information expected in 2028. The framework will enable automatic sharing of crypto tax data, providing greater certainty for the sector and reinforcing global transparency.
Authorities are calling on stakeholders across the crypto-asset ecosystem, including intermediaries, exchanges, custodians and traders, to contribute to a public consultation on the implementation of CARF.
The consultation, which opened on 15 September 2025 and runs until 8 November 2025, seeks expert input to help shape regulatory rules aligned with market needs.
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Fiji, renowned for its pristine beaches and coral reefs, may lose its appeal for cryptocurrency investors after authorities reaffirmed a ban on virtual asset service providers. The National Anti-Money Laundering Council cited financial stability and national security concerns in maintaining the restriction.
The Reserve Bank of Fiji has prohibited crypto exchanges, transfers, and custody services, while residents are barred from purchasing cryptocurrency using local funds. The move reinforces the country’s strict stance on digital assets and limits crypto activity within its borders.
Across Oceania, regulatory approaches vary widely. Vanuatu and Nauru now licence crypto companies, while the Marshall Islands launched its own digital currency in 2018. In contrast, Papua New Guinea and Samoa still lack formal crypto regulations.
Australia and New Zealand, the region’s largest economies, are steadily developing comprehensive frameworks to govern digital assets, signalling a more structured approach to cryptocurrency regulation in Oceania.
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The US Treasury has issued an Advance Notice of Proposed Rulemaking (ANPRM) to gather public input on implementing the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The consultation marks an early step in shaping rules around digital assets.
The GENIUS Act instructs the Treasury to draft rules that foster stablecoin innovation while protecting consumers, preserving stability, and reducing financial crime risks. The Treasury aims to balance technological progress with safeguards for the wider economic system by opening this process.
Through the ANPRM, the public is encouraged to submit comments, data, and perspectives that may guide the design of the regulatory framework. Although no new rules have been set yet, the consultation allows stakeholders to shape future stablecoin policies.
The initiative follows an earlier request for comment on methods to detect illicit activity involving digital assets, which remains open until 17 October 2025. Submissions in response to the ANPRM must be filed within 30 days of its publication in the Federal Register.
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Regulators intend the framework to be proportionate, supporting UK competitiveness in global markets. The FCA is also examining how its Consumer Duty should apply to crypto, ensuring firms act to deliver good outcomes for clients.
Views are being sought on complaint-handling, including whether cases should be referred to the Financial Ombudsman Service.
David Geale, executive director of payments and digital finance, said the FCA aims to build a sustainable and competitive crypto sector by balancing innovation with trust and market integrity. He noted the standards would not eliminate investment risks but would give consumers clearer expectations.
The consultation follows draft legislation published by HM Treasury in April 2025. Responses on the discussion paper are due by 15 October 2025, with feedback on the consultation paper closing on 12 November 2025. Final rules are expected in 2026.
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The Australian Securities and Investments Commission (ASIC) has introduced class relief for intermediaries involved in the secondary distribution of stablecoins issued by licensed providers. The measure aims to encourage responsible growth in the digital assets and payments sectors.
Under the relief, intermediaries do not need to hold separate Australian financial services (AFS), market, or clearing licences when offering services linked to stablecoins issued by an AFS licensee. However, they must provide clients with the product disclosure statement, if one is available.
ASIC has indicated that as more issuers of eligible stablecoins obtain an AFS licence, the exemption could extend further. The regulator stressed its support for innovation while safeguarding consumers by requiring stablecoins to remain under licensing rules.
The move follows ASIC’s consultation on updates to its guidance for digital assets, which included stablecoins and other token types. ASIC will soon release revised guidance and is working with Treasury on digital asset reforms, including a payment stablecoin framework.
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Russia has made its first salary payment in digital rubles, marking a milestone in the country’s adoption of its central bank digital currency (CBDC). The Ministry of Finance confirmed the payment with the Central Bank of Russia will be available to government employees on request.
The first payment went to Anatoly Aksakov, State Duma finance committee chair and key figure in digital currency legislation. Aksakov spent the digital rubles on charity and daily purchases, including a restaurant, testing its practical use.
The digital ruble is scheduled for a phased public launch on 1 September 2026. Trials have already included government transfers, commercial transactions, and payments in transport and real estate, signalling a gradual integration into the wider economy.
Officials plan to allow transactions between digital ruble accounts starting 1 January 2026, while payments will remain optional for recipients.
Russia’s CBDC development began in 2021, with legislation adopted in 2023. The initiative aims to modernise financial operations, increase efficiency in federal payments, and provide an alternative to traditional cash.
The rollout is being monitored closely as a test case for wider adoption of state-backed digital currencies.
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The Securities and Exchange Commission has approved new generic listing standards for exchange-traded products that hold spot commodities, including digital assets. Exchanges can now list and trade Commodity-Based Trust Shares without submitting a separate SEC rule change.
SEC Chairman Paul S. Atkins said the move aims to maintain America’s capital markets as a leading hub for digital asset innovation. The decision is expected to increase investor choice and streamline access to digital asset products.
Jamie Selway, Director of the Division of Trading and Markets, highlighted that the approval offers clear regulatory guidance and ensures investor protections while making it easier for products to reach the market.
Alongside the generic standards, the SEC approved the Grayscale Digital Large Cap Fund listing, which tracks the CoinDesk 5 Index of spot digital assets.
The regulator also authorised p.m.-settled options on the Cboe Bitcoin US ETF Index and the Mini-Cboe Bitcoin US ETF Index with multiple expiration formats.
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