On Oct. 21, Treasury Secretary Scott Bessent called the Genius Act, which regulates U.S. stablecoins, “a watershed moment in American finance” as regulators finalized rules for a market valued at $298 billion. The article points to stablecoins being integrated into the backend of financial products and to AI agents making payments; Chainalysis identified more than 138 million agent-made payments via the x402 protocol, though the average payment was about $0.32. The Act bans issuers from paying interest to holders, so gains mainly flow to companies like Circle (CRCL) and Coinbase (COIN); Circle paid $410.4 million in distribution and transaction costs in Q2, or 58.5% of its revenue. The article identifies interest rates as the biggest risk, since reserve income made up 95.2% of Circle's Q2 revenue, and says Coinbase suits most investors seeking stablecoin exposure better than Circle.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
stablecoinsregulationcryptointerest rates
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/27/2026 | 80,909.77 |
| Change that session | +0.95% |
ETH/USDT
▲ Likely positiveEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/27/2026 | 2,350.36 |
| Change that session | +1.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- More Americans Have Tried Crypto, But Few Are Sticking With It: Survey
An Ipsos survey for the DeFi Education Fund found 22% of U.S. adults have ever owned or used crypto, up from 18% in 2025, but past-year use held flat at 13%, with growth coming mostly from people who had stepped away. Only 4% have high trust in crypto exchanges, versus 42% for large national banks, and only 19% say the financial system is secure. Just 2% of respondents are very familiar with DeFi, though 40% say they would be at least somewhat likely to try it. Interest in learning about stablecoins fell to 7% from 11%, and about DeFi to 8% from 11%, even after the GENIUS Act set federal stablecoin rules. The survey polled 1,545 adults from Sept. 8 to 16 with a margin of error of plus or minus 2.8 percentage points.
- Treasury's Bessent sees crypto as America's next tool for keeping the U.S. dollar on top
U.S. Treasury Secretary Scott Bessent, speaking at Ripple's Swell conference, argued that digital assets could reinforce the dollar's global dominance as technological leadership becomes a bigger source of economic influence alongside military strength. He said Treasury could work with the SEC and CFTC to clarify crypto rules after Congress failed to pass the Clarity Act, and set guardrails against banks cutting off crypto businesses. Bessent noted that the GENIUS Act established federal stablecoin rules, that more than 90% of stablecoins are backed by U.S. dollars, and that issuers often hold U.S. government securities as reserves, which could become an important source of funding for the Treasury.
- USDC overtakes USDT in euro stablecoin trading as EU rules reshape market: Kaiko
A Kaiko report says Circle's USDC has overtaken Tether's USDT in stablecoin trading against the euro, rising to 56% of such trading from 10% in January 2024. The shift accelerated after major exchanges restricted USDT trading for European Economic Area customers under MiCA, and USDC order books are now roughly 40% deeper. Tether still has a circulating supply about 2.5 times that of USDC. About two weeks earlier, the European Banking Authority designated USDC as the EU's first 'significant e-money token', bringing it under direct EBA supervision. Kaiko says the US GENIUS Act could bring a similar shift to American exchanges, as the Office of the Comptroller of the Currency's first final rule takes effect on January 18, 2027.
- Kraken wants to bring Liquid to US, Ripple is an official bank, and prediction markets in the NBA
Hyperliquid said Kraken, through parent Payward, is its intended first CFTC-regulated HIP-3 deployer, which would let eligible US clients trade its on-chain perpetual swaps, though regulatory approval is still needed. Ripple received final OCC approval for Ripple National Trust Bank, with approved activities including managing the segregated reserves backing RLUSD; conditional approval had been granted in December 2025. The segment also covers the NBA's deals with Kalshi and Polymarket, Binance's plans in Brazil, and BlackRock's plans related to the yen.
- Ripple Wins Final OCC Approval for Trust Bank Behind $2.6B RLUSD Stablecoin
The OCC has granted Ripple final approval to open Ripple National Trust Bank, 10 months after conditionally approving the charter in December 2025. The bank will manage the reserves backing the RLUSD stablecoin, act as collateral trustee for holders, and offer fiduciary digital asset custody to enterprises. RLUSD will still be issued by Standard Custody & Trust Company, which is regulated by the New York DFS, so the stablecoin will fall under both state and federal supervision. The approval comes as community banks challenge the OCC's crypto charters in court, and Sen. Elizabeth Warren has called the charters illegal. According to CoinGecko, RLUSD has a market capitalization of about $2.6 billion.
- Ripple gets a final go-ahead to launch its own U.S. national trust bank
The Office of the Comptroller of the Currency (OCC) has approved Ripple National Trust Bank (RNTB), CEO Brad Garlinghouse announced on X. The bank will manage reserves backing the RLUSD stablecoin and offer regulated custody services for institutional clients, while RLUSD will continue to be issued by Ripple's New York-regulated unit, Standard Custody & Trust Company. RLUSD launched in December 2024 and has grown to about $2.5 billion in market value, backed by dollar deposits, U.S. government securities and other cash-like assets. Ripple applied in July 2025, received conditional approval in December and final approval this week, and said it will keep working with the OCC, New York regulators and others as the bank starts operating.
Related markets
Latest news
- Alphabet CFO walks through the company's Q3 results
Alphabet (GOOGL, GOOG) CFO Anat Ashkenazi outlined the company's third-quarter financial results on its Q3 earnings call. The call covered revenue growth, operating expense growth driven by AI talent and Gemini investment, and a jump in operating income.
- Canadian ‘crypto king’ case to go to jury as criminal trial winds down
Aiden Pleterski, a self-described “crypto king” in Canada, faces fraud charges over his alleged role in a digital asset Ponzi scheme, and the case will go to jury deliberations after closing arguments. Pleterski told the court he is innocent, saying he was forced to represent himself and that his innocence would otherwise have been proven. According to CBC, the jury will begin deliberating Thursday after receiving final instructions from Justice Shaun Nakatsuru. He is accused of defrauding about $30 million from social media followers between 2021 and 2022, was charged in 2024, and had waited more than two years for trial; a fraud conviction could bring up to 14 years in prison. Separately, five men, some reportedly victims of the scheme, were charged with kidnapping and torturing him in 2022, and one of them, Deren Akyeam-Pong, pleaded guilty to nine charges and awaits sentencing.
- Here are five key takeaways from the Fed rate decision and Warsh news conference
The Fed held its benchmark rate steady as widely expected, stressing a patient approach while it gathers more information on inflation's return to the 2 percent goal. Starting in 2027 the committee will still meet eight times, but one meeting will have no rate vote or post-meeting statement, and strategy meetings rise to two, leaving six chances to adjust rates outside emergency meetings. Governor Lisa Cook and Cleveland Fed President Beth Hammack both dissented; Cook had not dissented at all since joining in 2022, which made her vote a surprise. Chair Kevin Warsh said AI is one of several factors driving a strong expansion. The press conference was cut to half an hour, with reporters limited to one question each.
- Crypto Market Today, Oct. 28: Bitcoin and Altcoins Gain as Fed Decision Clears the Way for Big Tech Earnings
As of early evening on Oct. 28, Bitcoin rose 0.52% to $81,220.35, Ethereum rose 0.68% to $2,363.24 and Solana rose 1.33% to $102.60. The Federal Reserve held its rate at 3.75% to 4% as expected, but said inflation remains elevated and future hikes remain possible. Investors are now focused on earnings from Alphabet, Microsoft and ServiceNow after Wednesday's close, with Amazon and Intel reporting Thursday; disappointing results could weigh on market sentiment. Spot Bitcoin and Ethereum ETFs traded firmer, with IBIT up 0.96%, FBTC up 1.01% and ETHA up 1.07%, but the article says sustained ETF inflows would be needed to show the market is stabilizing.
- Alphabet Earnings: Search Misses, Google Cloud Grows 103%
Alphabet missed on EPS and revenue as search and YouTube came in light, while Google Cloud grew 103%. Shares were down 9% after hours.
- Microsoft Earnings: Azure Leads Growth, CapEx Comes In Light
Microsoft beat expectations on both revenue and EPS, with Azure growing 48% against a 45% estimate. Capital spending came in well below expectations. Shares rose after hours.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.