
U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins
The Fed proposed rules on putting last year's GENIUS Act into place with regulations, including those governing stablecoin yield programs.
Open Live BriefingPolicy, legislation, enforcement and the rules shaping digital assets.

The Fed proposed rules on putting last year's GENIUS Act into place with regulations, including those governing stablecoin yield programs.
Open Live BriefingCurrent reporting from CoinDesk and Decrypt.
4 current reports · latest report shown above

The group aims to link onchain shares to official shareholder records following the U.S. SEC's innovation exemption for tokenized stock trading.

The U.S derivatives regulator is grinding away at further guidance that welcomes tokenization and blockchain recordkeeping as regular industry elements.

In one of her final speeches as commissioner, Peirce argued that regulators' "data haystacks" endanger the people they aim to protect—as recent KYC leaks expose crypto holders to phishing and physical attacks.
Regulatory news is easy to overstate because a speech, consultation, scheduled vote, enacted rule and court order do not have the same force. This desk identifies the document, institution, jurisdiction and procedural stage before interpreting what may change.
Where an official notice leaves a question unanswered, the article leaves it unanswered too. Political context can explain why a decision matters, but it is not used as proof of a regulator's motive without supporting evidence.
The analysis separates proposals from binding rules and identifies the market, activity and geographic reach affected.
Effective dates, transition periods, exemptions and agency guidance often matter more to readers than the announcement itself.
The useful question is which issuer, exchange, protocol or customer obligation changes—not whether a headline sounds positive or negative for crypto.
This desk covers policy, legislation, court action and enforcement when the primary record has a material digital-asset consequence. Commentary is labelled and kept separate from the legal or procedural facts.
Reporting and analysis on Regulation.

The BIS has argued that tokenised bank deposits should carry most everyday and wholesale payments, leaving stablecoins in narrower roles. Project Agorá's real-value tests make that more than a theoretical preference—but not yet a production system.
Sources: Bank for International Settlements · Bank for International Settlements · Bank for International Settlements · Wyoming Stable Token Commission · Federal Reserve Board staff
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HMRC’s first dedicated cryptoasset Capital Gains Tax table records £13.799 billion of disposal proceeds and £1.377 billion of gains. Our analysis finds that 240 people—about 1.4% of those included—reported 52% of the gains captured in the table.
Sources: HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs · HM Revenue & Customs
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HSBC and Standard Chartered have completed the first reported live transaction on Swift’s blockchain-based ledger. Swift’s own design documents show why the milestone is about bank interoperability—not the disappearance of existing settlement systems.
Sources: CoinDesk · Swift · Swift · Standard Chartered
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Bank Leumi and Galaxy have announced a partnership intended to let Leumi and PEPPER customers buy, hold and sell bitcoin, ether and solana inside Leumi Trade. The companies expect availability in early 2027, but the reviewed primary sources do not show a live customer service or announce a product-specific regulatory approval.
Sources: Galaxy Digital · Bank Leumi · Bank Leumi · CoinDesk
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The U.S. Securities and Exchange Commission cancelled an open meeting that was due to consider whether to propose a tailored offering regime for certain crypto investment contracts. The official notice gave no reason and announced no replacement date.
Sources: U.S. Securities and Exchange Commission · U.S. Securities and Exchange Commission · U.S. Securities and Exchange Commission · U.S. Securities and Exchange Commission · Decrypt
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