The landmark US GENIUS Act could serve as a major catalyst for stablecoin adoption both domestically and abroad. But rather than simply boosting demand for dollar-backed digital currencies, it may unintentionally push capital into the tokenization market as investors seek yield on their holdings.

That was one of the key takeaways from a recent interview with Will Beeson, a former Standard Chartered executive and now founder and CEO of Uniform Labs, a developer of institutional liquidity solutions for tokenized financial markets.

A central provision of the GENIUS Act is its blanket ban on yield-bearing stablecoins, which prevents holders from earning interest on their digital dollar balances. According to Beeson, this restriction will accelerate the flow of capital into tokenized real-world assets (RWAs).

“With yield-bearing stablecoins off the table, institutions need a compliant way to earn yield while staying liquid,” Beeson told Cointelegraph. “Capital is already shifting.”

He noted that trillions of dollars in non-interest-bearing stablecoins are poised to enter digital finance. “Institutional holders aren’t going to sit on idle, depreciating assets. They’ll demand yield — and infrastructure that makes accessing it […] compliant,” he said, adding: 

“The next phase isn’t about holding idle stablecoins. It’s about programmatic access to risk-free yield, and the ability to move between cash and high-quality assets at will.”

Beeson’s view is shared by Aptos Labs’ Solomon Tesfaye, who told Cointelegraph that the GENIUS Act will benefit tokenization as much as it does stablecoins.

To meet this need, Beeson’s Uniform Labs is building Multiliquid, an institutional liquidity layer for tokenized markets that enables programmable, real-time conversion between tokenized assets, such as US Treasurys and money market funds, and stablecoins.

Multiliquid’s open-architecture design allows compliant issuers to integrate without commercial agreements.

While declining to name partners, Beeson confirmed that Uniform Labs is “working with a number of leading institutions, fintechs, and stablecoin issuers” ahead of its production launch later this year.

Before launching Uniform Labs, Beeson served as chief product officer at Libeara, a tokenization platform incubated by Standard Chartered’s SC Ventures.

Related: Tokenized money market funds emerge as Wall Street’s answer to stablecoins

Tokenization surge to broaden beyond private credit, government bonds

Although the GENIUS Act gives newfound legitimacy to stablecoins — and to digital currencies more broadly — “the next phase of digital assets is focused on asset tokenization,” wrote Sandra Waliczek, a member of the World Economic Forum’s blockchain and digital asset division.

Waliczek highlighted tokenization’s potential to level the investing playing field for asset classes like real estate and private equity, which have historically been restricted to wealthier investors.

“Tokenization changes this by enabling asset fractionalization, breaking assets into smaller, more affordable units,” she wrote.

So far, the nearly $26 billion tokenization market has largely centered on private credit and government bonds. But as Beeson noted, the disruption will extend far beyond those segments, encompassing “corporate bonds, credit and credit funds, commodities, equities, real estate funds, private equity funds, and ultimately private equity and real estate assets themselves.”

Related: GENIUS Act scrutinized for stablecoin yield ban as TradFi tokenization gains steam

]]> https://earlybirdsinvest.com/genius-ban-wont-stop-institutions-from-seeking-stablecoin-yield-ex-standard-chartered-exec/feed/ 0 52711 https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/ https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/#respond Wed, 06 Aug 2025 17:13:18 +0000 https://earlybirdsinvest.com/white-house-looking-to-ban-banks-from-discriminating-against-certain-clients-including-crypto-companies-report/

The Trump White House has reportedly set its sights on punishing banks it believes have been debanking conservatives.

The Wall Street Journal says it has reviewed a draft executive order that would instruct banking regulators to probe banks that may have violated the Equal Credit Opportunity Act.

Regulators would also be directed to investigate whether the financial institutions have broken antitrust and/or consumer financial protection laws.

Anonymous sources “familiar with the matter” tell the WSJ that President Donald Trump could pass the order this week.

The order, which would subject violators to fines, doesn’t name banks but reportedly alludes to an instance where Bank of America allegedly debanked a Christian organization over its religious beliefs. BofA says it shuttered the organization’s account because it doesn’t provide services to small businesses operating abroad.

BofA CEO Brian Moynihan argued in an interview with Face the Nation over the weekend that the regulators are to blame, not his bank.

“We have 70 million consumers and we’re one of the biggest small business lenders. So that’s not it. The issue they’re focused on is the regulators’ impact on this industry, and you heard Senator [Tim] Scott talk about this this week. This reputation, this after-the-fact look that you banked X, and now, after the fact, you’re going to say X didn’t turn out to be what you thought, so we look at it, we look at it based on risk.”

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British Cabinet Office Minister Pat McFadden has questioned the political donations made in Crypto. According to a Guardian report issued on July 18, 2025, McFadden, an intimate ally of British Prime Minister Kiel Starmer, said, “While democracy funding is often a controversial area, I think it’s very important to know who is providing donations.

British Cabinet Office Minister Pat McFadden has called for election officials to consider banning political donations made in digital currency. #crypto #UKhttps://t.co/qhoremm5hg

– cryptonews.com (@cryptones) July 18, 2025

Important discussions about crypto regulations have been cleaned up in both the UK and the US. In the US, President Donald Trump has announced that he will accept code donations. In fact, Thumzup Media Corporation, a Donald Trump JR-backed advertising technology startup, has secured board approval to hold up to $250 million in crypto. Meanwhile, the UK government is taking steps to “protect democracy.”

“Protection of democracy is one of the government’s most important duties. The increased risk that crypto donations, and crypto will be used to lead to British politics, is a clear and current danger to democratic integrity,” said Tom Brake, director of the Unlocked Democracy Campaign Group.

Discover: Best Meme Coin ICO for Investing in 2025

Crypto companies collect user data from 2026, with large fines for false reports

The UK is implementing serial crypto reforms through HM Revenue and Customs (HMRC). The UK government has introduced another drastic regulatory move driven by the adoption of the Economic Co-operation and Development Organization (OECD) Crypto Asset Reporting Framework (CARF). Starting January 1, 2026, all cryptographic companies must collect and disclose detailed user and transactional data.

“If you are offering CryptoAsset services in the UK starting January 1, 2026, you will have a new responsibility to collect and report data. HMRC” said the May 14, 2025 announcement.

All CryptoAsset service providers (both domestic and foreign platforms that serve UK clients) are required to collect and report extensive information about all users and all transactions. This includes address, country of residence, national insurance number, unique taxpayer references, and more.

Discover: 20+ Next Cryptocurrency to Explode in 2025

It is set to prohibit Crypto purchases with credit cards and loans

If you are using a credit card to purchase Crypto in the UK, it may be numbered on that day. The Financial Conduct Authority (FCA) has officially proposed rules to prevent retail investors from using borrowed funds to purchase cryptocurrency. This includes credit cards, personal loans, and even loans from crypto-specific lenders. However, some crypto users are worried that the UK ban will block innovation and limit access to the market.

The move is part of a broader effort to protect consumers from acquiring debts that chase unstable digital assets. And as more people are jumping into the code with money they don’t actually have, the UK’s top financial watchdogs are ringing their alarms.

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The Bolivian central bank reported on June 27 that domestic crypto transactions totaled $430 million in the 12 months since regulators reopened formal payment rails, a 630% jump over the previous year. 

The Banco Central de Bolivia (BCB) reported that users processed 10,193 operations worth BOB 611 million as of May 31, 2025, approximately $88 million. 

Natural persons executed 86% of those transfers, and men accounted for 77% of that cohort. The report counted flows only on channels registered with the financial system supervisor ASFI, leaving peer-to-peer activity outside the tally. Binance-linked rails moved the largest share. 

First-half volumes highlight the pace. Crypto payments climbed from $46.5 million in the first six months of 2024 to $294 million in the comparable 2025 window.

Oversight strategy

The growth follows Resolution 082/2024, issued last June 25, which formally recognized “virtual assets” and allowed banks to route customer orders to exchanges.

Bolivia extended the use of crypto to the public sector on March 13, when authorities permitted the national energy company YPFB to pay for fuel imports with digital assets, citing an acute dollar shortage and ongoing fuel supply strain.

The BCB stated that it would publish quarterly dashboards on exchange activity and collaborate with the tax authority, SIN, to integrate wallet analytics with existing value-added tax records. 

Banks must file daily reports on crypto outflows and maintain real-time screening against the Office of Foreign Assets Control sanctions list. Regulators flagged 27 accounts for enhanced examination but imposed no fines in the period reviewed.

Officials have warned that custodial wallets are excluded from the national deposit insurance scheme. 

They urged users to keep their private keys offline and to verify the spelling of the domain name before logging in. The literacy modules include live demonstrations of deep-fake investment scams that recently targeted WhatsApp groups in La Paz. 

New legal guardrails and education push

President Luis Arce’s government advanced the framework in May with Supreme Decree 5384, creating licenses for fintech firms and virtual-asset service providers. 

The decree mandates anti-money laundering controls aligned with GAFILAT guidance and defines tokenized assets, blockchain networks, and custody obligations. ASFI has 40 working days to publish implementing rules.

The BCB paired the legal overhaul with a national literacy campaign. Officials scheduled workshops in all nine departments to cover private-key management, price volatility, and fraud prevention. 

“Modern digital tools can improve economic activity, but citizens must understand the risks,” the report said.

Mentioned in this article

One of the biggest financial institutions based in the United Kingdom (UK) is blocking all crypto transactions on its bank cards.

In a new post, UK banking titan Barclays says it is barring all digital asset-related transactions on its proprietary payment cards starting on June 27th due to the volatile price of cryptocurrencies and because they are uninsured assets.

“It’s not possible to make cryptocurrency transactions using a Barclaycard. From 27 June 2025, we’ll block crypto transactions made with a Barclaycard because we recognize there are certain risks with purchasing cryptocurrencies.

We’re doing this because a fall in the price of crypto assets could lead to customers finding themselves in debt they can’t afford to repay. There’s also no protection for crypto assets if something goes wrong with a purchase, as they’re not covered by the Financial Ombudsman Service and Financial Services Compensation Scheme.”

However, despite the recent ban on crypto assets, previous reports indicate that Barclays has invested hundreds of millions of dollars into IBIT, BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF), which launched in January 2024 and is currently the largest BTC-based ETF by trading volume.

In February, the bank disclosed to the U.S. Securities and Exchange Commission (SEC) that it holds 2,473,064 shares of IBIT, worth nearly $137 million at the time.

IBIT is trading at 60.98 at time of writing, representing a 1.5% increase over the last 24 hours.

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Telegram-based dark markets rapidly filled the gap left by Huione Guarantee after the $27 billion marketplace disappeared on May 13, according to a June 23 Elliptic report.

Elliptic noted that Telegram banned thousands of Huione Guarantee channels and usernames once researchers traced billions of USDT-denominated sales to pig-butchering scams. However, data shows that merchants immediately moved to Tudou Guarantee, a rival in which Huione owns a 30% stake.

On-chain data recorded incoming USDT at Huione falling to near zero after the ban, while Tudou’s user count more than doubled, with inflows matching Huione’s pre-shutdown volumes.

Guarantee markets operate in Chinese on Telegram and settle exclusively in USDT. Vendors supply stolen data, money laundering pathways, and other services essential to large-scale online fraud. 

The escrow model lets buyers and sellers resolve disputes without exposing real identities, and Tether’s dollar peg eliminates local currency volatility.

Distinct payment rail from Huione Pay

Observers sometimes confuse Huione Guarantee with Huione Pay, a Cambodia-based payment firm still processing large USDT volumes. 

Elliptic separated the two through wallet analysis and noted that Huione Pay’s traffic remained high even after FinCEN labeled the parent Huione Group “a financial institution of primary money laundering concern” and proposed cutting its US access.

Elliptic tracked more than 30 active Guarantee markets and warned about fake venues that target inexperienced criminals. 

Tudou led the post-shutdown surge, but smaller competitors also gained users as merchants duplicated listings across platforms.

Ecosystem adapts to channel bans

The closure of the Huione Guarantee sent temporary shock waves through a network of hundreds of thousands of scammers, intermediaries, and brokers across Southeast Asia and China. 

Elliptic’s data showed no enduring decline in overall Guarantee-market volume one month later, indicating that liquidity migrated swiftly to replacement channels.

The report concluded that coordinated, sustained, removals will be required to disrupt an ecosystem built on Telegram escrow and USDT settlements. 

Huione Guarantee’s downfall disrupted one node, but the broader dark market structure continues to expand within the messaging app.

Mentioned in this article

Norway is reportedly planning to introduce a temporary ban on the development of new data centres linked to crypto mining, Reuters reported on June 20.

According to the report, the government is expected to implement the restrictions before the end of the year, citing environmental and energy concerns.

The government says the aim is to preserve electricity for more productive uses.

Karianne Tung, Norway’s Minister for Digitalization and Public Administration, said authorities want to reduce crypto mining activity as much as possible. She added that these operations offer limited economic benefit, bringing in few jobs or tax revenue, despite consuming large volumes of energy.

Meanwhile, this stance puts Norway at odds with a growing number of countries turning to Bitcoin mining to utilize surplus energy and boost national income.

Notably, countries like El Salvador, Belarus, and Pakistan have embraced state-backed mining programs, which support local economies, help stabilize energy grids, and lower electricity costs for citizens.

Norwegian firm embraces Bitcoin

While the government is pushing back against mining, Norwegian companies are deepening their involvement in Bitcoin.

Data from Nordics Bitcoin reveals that Aker ASA, a major industrial holding company, currently holds 754 BTC, valued at over $80 million, making it the country’s largest corporate holder of the asset.

Crypto-focused firm K33 has also increased its accumulation, acquiring 25 BTC this year and signaling plans to increase its holdings to 1,000 BTC.

Meanwhile, the Norwegian Block Exchange recently purchased 6 BTC and expects to expand its reserve to 10 BTC by the end of June as part of an exploratory initiative.

These moves suggest that Bitcoin continues to gain traction as a treasury asset among Norwegian firms despite the political headwinds.

The corporate interest aligns with a global trend that has seen the top crypto become a prominent player in the international financial system.

Mentioned in this article

The Office of the Comptroller of the Currency (OCC) is taking action against a former bank employee who allegedly stole millions of dollars from customer accounts.

The OCC says it’s issuing an order of prohibition against William Shane Garrow, the former senior vice president of private banking for a subsidiary of BOK Financial in Tulsa, Oklahoma.

Says the OCC,

“Between approximately March 17, 2021 and March 12, 2024, respondent misappropriated approximately $3,437,536 from multiple customers’ accounts under the bank’s custody for his personal benefit, without the customers’ knowledge or authorization.”

According to the OCC, Garrow engaged in unsafe and unsound practices and violations of law that resulted in significant losses for the bank.

The regulator has now banned Garrow from working at insured depository institutions, including banks and credit unions. The former bank executive is consenting to the issuance of the order without admitting or denying the OCC’s findings.

The OCC action comes after Garrow pleaded guilty to bank fraud and willfully making and subscribing a false Federal income tax return. Garrow was sentenced last month to 71 months in prison. He was also ordered to pay $3.86 million in restitution and $1.519 million to the IRS.

Prosecutors said Garrow directed fraudulent wire transfers and cashier’s checks from at least 16 client accounts to entities and bank accounts that he controlled. If a client asked about the transactions, Garrow blamed it on a banking error and would return the funds stolen or transfer money from another victim’s account.

Said US Attorney Clint Johnson last month,

“Garrow deceived people for over 12 years, and his actions wreaked havoc on banking personnel who were tasked with correcting his wrongs. This was not a simple banking error or an accident, but rather a criminal scheme. Garrow abused the trust given to him by the bank and its customers.”

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