U.S. market regulators took a coordinated step to encourage the growth of crypto markets, issuing a joint staff statement on Sept. 2 that affirmed registered exchanges are not barred from offering certain spot crypto asset products.

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) said the statement reflects their staff divisions’ shared view that regulated platforms can facilitate spot commodity trades.

The agencies framed the move as part of a broader push to expand market choice and bring digital asset innovation back onshore.

Coordinated regulatory effort

SEC Chairman Paul Atkins called the joint statement a milestone for the industry, highlighting the agency’s commitment to fostering competition among trading venues.

CFTC Acting Chairman Caroline D. Pham positioned the announcement as a reversal from previous policy uncertainty, linking it to President Donald Trump’s push to make the US “the crypto capital of the world.”

The effort stems from ongoing initiatives: the SEC’s “Project Crypto” and the CFTC’s “Crypto Sprint.” Both programs aim to modernize regulatory frameworks, building on recommendations from the President’s Working Group on Digital Asset Markets.

A clear pathway

The agencies’ trading and market oversight divisions said they would continue engaging with industry stakeholders to address concerns and assess potential products.

Registered exchanges are encouraged to approach staff at either regulator for guidance on compliance. The statement comes as the CFTC gears up to restore US access for offshore exchanges after issuing new guidance last month.

The joint statement indicates that the SEC and CFTC intend to maintain open channels for dialogue and anticipate further actions to support the growth and development of U.S. digital asset markets.

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The Crypto Council for Innovation (CCI) and the Blockchain Association jointly issued a letter on Aug. 20 endorsing Brian Quintenz for Chairman of the US Commodity Futures Trading Commission (CFTC).

In the letter to President Donald Trump, the groups emphasized that confirming Quintenz promptly is critical to advancing his administration’s agenda to foster a “golden age” for digital assets in America.

According to the group:

“Each of our organizations has had the privilege of knowing and working with Mr. Quintenz firsthand, and we can attest to his deep expertise, sound judgment, proven leadership, and integrity.”

They further noted that Quintenz’s experience positions him to guide the CFTC at a decisive moment for US financial markets and the broader digital asset ecosystem.

Their endorsement also frames him as uniquely equipped to implement regulations that support responsible innovation, safeguard market integrity, and maintain American economic competitiveness.

They wrote:

“Mr. Quintenz’s extensive experience and substantive and technical understanding of blockchains, digital assets, and financial markets makes him exceptionally well-suited to lead the CFTC at this critical juncture.”

Quintenz, who was nominated in February, saw his confirmation vote delayed after concerns arose over potential conflicts of interest, highlighted by notable industry figures like the Gemini co-founders Tyler and Cameron Winklevoss.

Pushback against bankers

The same coalition also opposed a recent initiative by US banks to amend provisions in the GENIUS Stablecoin Regulation Act.

In an Aug. 19 letter, the groups argued that the proposed changes would create an uncompetitive environment favoring banks while limiting broader industry growth, innovation, and consumer choice.

Last week, the Bank Policy Institute (BPI) and other banking groups urged lawmakers to address what they described as a legislative gap that prevents exchanges and affiliated firms from offering indirect yields on stablecoins.

The traditional financial institutions warned that this gap could drive up to $6.6 trillion in deposits from the traditional banking sector into digital assets.

However, the crypto organizations countered that payment stablecoins operate under distinct frameworks and should not be treated like bank products.

They stressed that allowing regulated platforms to share benefits with customers is “a feature that promotes financial inclusion, fosters innovation, and ensures American leadership in the next generation of payments.”

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Four in 10 crypto investors in Britain reported that their banks blocked or slowed payments to digital asset platforms, highlighting growing tension between traditional finance and the country’s crypto sector.

The findings come from an IG Group survey of 500 active crypto users and 2,000 adults across the U.K., according to a CoinTelegraph report.

Crypto access challenges

Among those affected, nearly a third filed complaints, while more than a third switched banks after encountering restrictions.

Public opinion on the issue is split. According to the survey, 42% of adults said they opposed banks stepping in to restrict crypto payments, while about one-third supported the practice.

Although trading digital assets is legal in Britain, investors face regulatory and banking limits when moving money into the sector. Only companies registered with the Financial Conduct Authority (FCA) can offer crypto services in pounds, and rules prohibit retail buyers from using credit cards or other forms of borrowed capital.

Some high-street banks, including Chase UK and NatWest, have introduced additional curbs, citing fraud risks. Those restrictions have left many customers struggling to fund accounts with regulated exchanges.

Broader competition concerns

The survey results add to wider criticism of the U.K.’s cautious approach to digital assets. Former Chancellor of the Exchequer George Osborne, now an adviser to Coinbase, recently argued that Britain is falling behind other financial centers.

He highlighted the near absence of pound-backed stablecoins in a global market worth nearly $300 billion, with sterling-linked tokens making up just a fraction of the total supply.

Even so, regulators have made incremental changes. Beginning Oct. 8, the FCA will allow retail investors to trade crypto exchange-traded notes, reversing a ban imposed during a period of high volatility.

On 14 August 2025, Binance reopened access to its suite of “Earn” products for eligible users in the UK following regulatory approval. Binance’s ongoing compliance reset is to mainly restore access to its full range of Binance Earn offerings for qualifying UK investors.

Binance Restores Earn Product Access for UK Professional Investors
This comes after regulatory clarification lifted earlier limitations on certain yield and lending products.
This enables Binance to once again provide qualified high-net-worth firms,investment experts and etc. pic.twitter.com/cyn3eNb79L

— T-8W2AETH (@8W2__) August 14, 2025

“Professional investors in the UK have been asking for access to our Earn products, and we are excited that today we can deliver that in full compliance with local regulations,” a Binance spokesperson said. “These are sophisticated clients who understand the asset class and want innovative, flexible tools to grow and manage their crypto portfolios.”

Binance’s move reverses restrictions introduced during a prolonged period of regulatory tightening in the UK that caused crypto promotions and product lines to be curtailed. So what does the reopening suggest? Binance has implemented required consumer-protection and marketing compliance measures to align with the UK rules.

DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August 2025

UK Is Tough Jurisdiction For Crypto Marketing Rules

The UK has been a rather tough jurisdiction, specially for crypto marketing rules, after the Financial Conduct Authority (FCA) introduced strict “financial requirements” in 2023. This impacted feature availability across major exchanges.

Earn products such as savings, staking, and other yield-related offering had been limited or halted for UK users. This affected retail participation.

“Staking is unique because it’s not just about returns,” the Binance spokesperson said. “It’s about alignment. Professional investors see it as a way to actively contribute to the long-term success of the networks they believe in, while earning yields that can outperform traditional fixed-income products.”

DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025

UK to Cap Bank Crypto Holdings at 1% by 2026

The Bank of England is setting the stage for a big change in how British banks interact with cryptocurrencies. Starting in 2026, banks will face new limits on how much digital asset exposure they can take on. The move is part of a wider push to reduce risk and keep the traditional financial system from being rattled by crypto’s ups and downs. Transparency is an important part of the Bank of England crypto framework, with banks required to disclose their crypto activity in detail.

David Bailey, director of prudential policy at the Bank of England, explained the thinking behind the restrictions. In short, volatile assets like Bitcoin are too unpredictable to form a big chunk of a bank’s portfolio. Bailey called for a “conservative approach,” saying banks need to manage crypto in a way that protects both themselves and their customers.

Read More: Bank of England Crypto Rules Set 1% Cap for 2026

Binance Restores “Earn” Products for UK Users After Regulatory Green Light

The Federal Reserve (Fed) announced it will shut down its program with additional scrutiny over crypto and fintech activities.

On an August 15 statement, the central bank said it will sunset the Novel Activities Supervision Program and return to monitoring banks’ crypto and fintech activities through standard supervisory processes.

The Fed established the specialized program in August 2023 to enhance oversight of banking organizations engaging in crypto activities, distributed ledger technology projects, and complex technology partnerships with non-banks. 

The program targeted activities that regulators deemed novel and potentially risky to financial stability.

The Fed stated:

“Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices.”

The regulator will integrate knowledge gained from the program into standard supervisory processes while rescinding the 2023 supervisory letter that created the initiative.

The program’s dissolution follows several pro-cryptocurrency moves by federal regulators this year. 

The Federal Reserve Board removed reputational risk from its bank supervision program on June 23, ordering staff to strike the term from examination manuals and concentrate on measurable financial exposures.

The Fed’s move positions the central bank alongside the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, which made similar changes this year. 

The coordinated revisions eliminate a subjective standard that experts said allowed examiners to block banking services to crypto firms and prevented banks from offering basic crypto-related services.

Furthermore, the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation released a joint statement explaining how existing banking rules apply when institutions custody crypto for customers. 

The guidance describes safekeeping as holding digital assets on clients’ behalf while stressing that it does not create new supervisory demands.

Regulators instructed boards and executives to view crypto custody as a service that relies on exclusive control of private keys and other sensitive data, requiring banks to prove no other party can unilaterally move assets once they enter custody.

Fed Chair Jerome Powell laid the groundwork for the regulatory shift in an April 16 speech. In it, he urged Congress to establish a stablecoin framework and stated that the Fed does not intend to limit lawful relationships between banks and crypto firms. 

Powell acknowledged that regulators adopted a conservative stance after the 2022 market failures but indicated that some guidance may be relaxed to accommodate responsible innovation.

The program’s end represents a broader normalization of crypto banking supervision as regulators gain confidence in their understanding of digital asset risks and develop clearer frameworks for institutional participation in crypto markets.

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The digital currency realm has been evolving at a rapid pace today. Some of the top digital currencies that exist today are Tether (USDT) and USD Coin (USDC). These cryptocurrencies have widened the realm of digital finance. Gradually, individuals and institutions are accepting these digital currencies, further contributing to their popularity. The market capitalization of USDT reached USD 104.1 billion in March 2025, highlighting its solid position in the market.  

Currently, the regulatory landscape relating to digital currencies is undergoing a dynamic change. As such, digital currencies hold immense potential at present; you need to understand how the regulatory setting may shape their future trajectory.  You must explore how regulatory developments may influence the future of USDT and USDC.

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An Insight into USDT

Before looking at USDT and USDC stablecoin regulation, it is essential to know about these digital currencies in detail. USDT or Tether is a cryptocurrency that has been pegged to the U.S. dollar to maintain stability. Thus, it is a stablecoin whose value remains consistent, unlike other types of cryptocurrencies that have high volatility.

The digital currency came into existence in 2014. Since then, it has been driving the future of money through digitalization. By leveraging the blockchain space, USDT has successfully established itself as a top digital token that is built on diverse blockchains. Its high degree of transparency has significantly contributed to its widespread adoption in recent times. 

An Insight into USDC

USDC is known as the largest regulated digital dollar that exists in the world. It came into existence in the year 2018. As it is entirely backed by real cash as well as cash equivalents, it offers high security to users.  The digital currency has shown immense promise for individuals and businesses. By using these digital currencies, it is possible to make seamless financial transactions in a secure manner. 

In the current times, USDC serves as the perfect example that shows the unification of digital innovation and conventional financial stability. By leveraging blockchain technology, DeFi applications, and digital wallets, it is possible for users to use USDC.

Now you may be wondering – Which is better, USDC or USDT? The answer to the question depends on individual preference. If you wish to use a widely adopted stablecoin, USDT is a better option. On the other hand, if you wish to choose a more-regulated digital currency, USDC is an ideal choice. Thus, while answering the question – Which is better, USDC or USDT? You need to focus on your exact needs.

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Impact of regulations on USDT and USDC

As there is a rise in the adoption of USDT and USDC, high emphasis is being laid on the regulatory aspects. Due to a surge in regulatory pressure, the future of USDC as well as USDT may undergo major changes. Some of the key effects of regulatory developments on these digital currencies include:

• Higher transparency in USDT 

An increase in regulatory pressure may further increase transparency in Tether. More detailed information may be released so that users can be aware of risky assets. Thus, users who may be wondering about USDT vs USDC, which is safer, can find an answer.

• Expansion of USDT at the global level 

The increase in regulations can positively impact the trust of the general public in USDT. People who may have questions about USDT vs USDC, which is safer, can feel encouraged to use USDT in addition to USDC. As a result, its adoption may reach new heights all across the globe.

• Regulatory investigations for Tether 

In the past, Tether has been fined for the misrepresentation of its reserves. Due to the rise in regulatory pressure, more investigations may be carried out, which may compromise its reputation in the global market. 

• Regulatory alignment for USDC 

The future of USDC may be positively influenced due to better alignment with the regulations. Since the digital currency already adheres to regulations and policies, regulatory pressure may further strengthen its compliance.

• Higher institutional adoption 

The solid regulation of USDC has the potential to encourage institutions to adopt the specific digital currency. The implementation of well-defined regulations may encourage businesses and entities to shift towards digital currencies and show their commitment to digital transformation. Furthermore, it can also give rise to new opportunities by integrating these stablecoins into digital apps, fintech products, and many more.   

• Concerns relating to freezing 

The need to comply with tight regulations may automatically give rise to freezing concerns.  In the future, USDC may be able to freeze the wallets of users. As a result, they may face decentralization-related concerns that may adversely affect their overall experience. 

Thus, heightened regulatory pressure has the potential to give rise to both positive and negative impacts on USDT and USDC. In order to understand the exact impact, it is imperative to understand USDT vs USDC. By understanding the major differences between these digital currencies, you can identify how regulatory elements may have diverse effects on them. 

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Understanding USDT vs USDC

In order to explore how regulations and legislation may impact the future of USDT and USDC, it is a must to understand how these currencies differ. The basic differences between these cryptocurrencies have been captured below:

The USDC currency is well-known for its feature relating to high transparency. Regulatory compliance ensures that no information remains hidden from users. The transparency of USDT is not adequate. It has faced investigations in the past due to reserve disclosure concerns.

Although both these stablecoins are widely used, USDC is preferred by institutions. This is mainly because of regulatory compliance. Thus, USDC stablecoin regulation certainly works in its favor and contributes to acceptance at institutional levels. As USDT is not regulated, it sometimes deters institutions from using these cryptocurrencies.

USDT is highly popular owing to its high liquidity. Moreover, users can use it for a diverse range of trading options depending on their needs. On the other hand, USDC has a solid reputation for its reserve management. The fact that it adheres to appropriate rules increases the trust level for users.  

The table captures the chief differences between the digital formats in a comprehensible manner.

Final Words

The mounting regulatory pressure is most likely to redefine the future of USDT and USDC. Both positive and negative effects may arise due to developments in the regulatory landscape. Some of the major impacts that have been identified in relation to USDT include higher transparency, expansion of USDT at the global level, and heightened regulatory investigations.

Regulatory pressure may also shape the future of USDC by contributing to better regulatory alignment and higher institutional adoption. However, concerns relating to freezing may also arise for users. As the impact of regulatory pressure may be diverse for USDT and USDC, it is essential to keep a tab on the latest regulatory developments. The insight can certainly enable individuals as well as institutions to gain a better insight into the future trajectory of USDC and USDT. Learn about Stablecoin fundamentals to build a strong foundation and stay ahead of ongoing changes in the crypto ecosystem.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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Last updated: 

August 13, 2025

South Korea’s government is set to fast-track pro-business crypto reforms, including stablecoin regulations.

The South Korean newspaper Metro Seoul reported that the Presidential Committee on State Affairs announced its plans at a public briefing on August 13.

South Korea Crypto Reform Taking Shape

The committee spoke of a five-year plan for state administration, naming 123 state affairs-related tasks.

Among these tasks named were “the construction of a digital asset ecosystem” and “developing the domestic cryptoasset market.”

Both were identified as “key national tasks” for the administration, which took office in early June this year following the election of President Lee Jae-myung.

Lee has spoken repeatedly about his intention to build up the domestic crypto sector, with deregulation and stablecoin regulation high on his agenda.

The President appears keen to let domestic firms issue won-pegged stablecoins. Leading banks and IT companies have reacted by registering scores of stablecoin-related trademarks.

Others are hurriedly rolling out crypto-related business plans, aware that this may allow non-financial firms to develop advanced payment platforms.

However, one of President Lee’s key campaign pledges was left off the five-year plan, namely the dissolution of the Financial Services Commission (FSC).

The FSC is the nation’s top financial regulator. Its Financial Intelligence Unit (FIU) polices the country’s crypto exchanges, issuing operating permits and conducting periodic on-site inspections.

It also enforces anti-money laundering and terrorist financing protocols at the trading platforms.

FSC: Vociferous Critic No More?

In previous years, the FSC has been a vociferous critic of the crypto sector. But in recent years, as governments have relaxed their hardline stance to the industry, it has spoken in favor of reform.

Under the proposal, FSC’s supervisory duties were to transfer to the Financial Supervisory Service.

The FSC’s policy-related tasks were due to transfer to the Ministry of Strategy and Finance.

But Lee’s plan to scrap the FSC proved controversial, even among senior ministers. While his offices have yet to confirm that the President has shelved the policy, the five-year plan appeared to suggest the proposal may have moved to the back burner.

There was no mention of the regulatory reorganization move on the plan. And seven of the 123 tasks were assigned to the FSC.

The newspaper added that crypto reforms are a “key focus” for both the government and the National Assembly this year.

As such, reforms are “expected to gain momentum” in the weeks ahead, Metro Seoul wrote.

‘Time to Play Catch-up’

Political leaders are concerned that South Korea is being left behind. They note that over the past two years, the global crypto market has expanded by about 262%.

While crypto investment has spiked in the US, the European Union, and Japan, driven by institutionalization drives, the same cannot be said for Seoul. The outlet wrote:

“Delayed institutional reforms and a lack of legislation in South Korea have left the domestic cryptoasset market significantly lagging in terms of competitiveness.”

The FSC has prioritized its plan to allow corporations to buy and sell crypto. It also wants to tak a “more relaxed approach” to regulations.

The regulator has previously spoken of its intention to roll out crypto-related regulations before the end of this year.

However, skeptics say that a final decision on the fate of the FSC is yet to be taken. Talks to abolish the regulator “may resume in the future,” the newspaper explained.

Unnamed financial sector officials opined that the debate over the reorganization of the financial regulators would “continue until the end of the year.”

Earlier this month, the Seoul district of Gangnam announced it had recouped $144,057 in unpaid taxes in the first half of this year by seizing coins from tax evaders.

Laser Digital, a digital asset subsidiary of Japanese banking giant Nomura, has secured the first limited license to offer over-the-counter crypto derivatives under the Virtual Asset Regulatory Authority’s (VARA) Pilot Regime, the company announced Wednesday.

Laser Digital is the first firm authorized to provide institutional-grade crypto options directly to clients under the VARA framework, marking a significant milestone for the firm and the UAE’s emerging regulatory environment.

With this approval, Laser Digital is officially open for business in Dubai and will begin engaging with institutional counterparties to deliver structured derivative strategies.

The offering includes products for hedging, yield enhancement, and volatility management, all of which are tailored to meet the needs of sophisticated investors in the digital asset space.

The license falls under VARA’s Pilot Regime, designed to vet and onboard qualified firms while maintaining strong oversight of virtual asset activity. Laser Digital’s entry under this program reflects growing regulatory maturity in Dubai’s digital asset sector.

Founded by Nomura to bridge traditional finance and the crypto economy, Laser Digital offers trading, asset management, and venture investment services within a regulated institutional framework.

The company’s approval under VARA signals a deepening of Dubai’s ambitions to lead in the global race for regulated crypto innovation.

VARA, established in 2022, has steadily advanced its regulatory roadmap, most recently introducing a staged licensing framework designed to bring oversight to virtual asset activity while supporting innovation.

The Pilot Regime, which Laser Digital now operates under, allows select firms to engage with the market on a limited basis before progressing toward a full Virtual Asset Service Provider (VASP) license.

Dubai’s regulatory clarity has made it a magnet for crypto firms seeking stability amid a patchwork of enforcement actions and inconsistent policies in other jurisdictions. By securing this license, Laser Digital gains a foothold in one of the few jurisdictions offering structured access to institutional-grade crypto finance under government oversight.

Coinbase unveiled a developer-focused wallet that automatically activates 4.1% rewards on USDC balances.

Called Coinbase Developer Platform (CDP) Embedded Wallets, the product is part of and is aimed at giving builders the same secure, scalable infrastructure that powers millions of Coinbase accounts, according to an August 5 announcement.

CDP Embedded Wallets support Ethereum Virtual Machine (EVM)-compatible chains and Solana, pairing “web2-style” logins via email, SMS, and OAuth with self-custody. 

Keys are secured in trusted execution environments (TEEs), while developers can define policies and plug into a unified toolkit for onramps, swaps, transfers, balances, staking, and rewards. 

Coinbase says developers can create brandable wallets in under 200ms, then monetize idle balances via the native 4.1% USDC rewards.

Early use cases include remittances, payment links, DeFi marketplaces, B2B payroll, creator payouts, and gaming with on-chain assets and free USDC sends on Base.

As part of the beta, Coinbase Onramp customers can use Embedded Wallets at no cost through September 30.

US stablecoin clarity propels movement

Coinbase ties the launch to fresh US policy momentum on stablecoins. The GENIUS Act cleared the House on July 17. It was signed into law on July 18, establishing the first federal framework for dollar-backed stablecoins and signaling regulatory support for “faster, cheaper” payments. 

The House also passed the CLARITY Act the same day, sending it to the Senate. The CLARITY Act would create a regulatory regime for digital assets other than stablecoins and give the CFTC sole authority over transactions in digital commodities.

With that backdrop, Coinbase says developers are moving quickly to build on stablecoin-native rails, and the wallet’s auto-rewarding USDC feature is positioned to ride that shift.

Coinbase frames CDP Embedded Wallets as a way to cut integration overhead, replacing stitched-together APIs with a single stack while keeping users in a non-custodial flow.

For builders, the proposition offers a faster path to market, complete with familiar logins, end-to-end onboarding, and built-in yield on idle USDC.

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President Donald Trump signed the GENIUS Act into law on July 18, pledging that the measure will secure “global dominance” in crypto technology.

The legislation gives the US its first federal framework for dollar‑backed stablecoins. Trump celebrated the passing of the bill, saying:

“Crypto has gone up more than any stock. Crypto makes the dollar look good. Crypto is good for the dollar, the nation.” 

He added that the GENIUS Act positions the country to lead the sector and vowed to approve broader crypto market structure legislation before the end of the year. 

Senate Banking Committee ranking member Tim Scott called the statute “regulatory clarity for the stablecoin industry” and said faster, cheaper payments would “solidify the US dollar’s dominance across the world.” 

Treasury Secretary Scott Bessent echoed the theme in an X post, thanking House Republicans for “actions that keep the promise” to make America the “crypto capital of the world.”

Stablecoin framework

The GENIUS Act creates a federal framework for issuing and overseeing payment stablecoins.

It assigns the Federal Reserve to license and supervise national-level, insured depository institutions, while permitting eligible, state-chartered firms to mint dollar-pegged tokens if they meet equivalent standards on reserves, disclosures, redemptions, and risk controls.

Issuers must back every token with high-quality liquid assets, such as cash, Treasury bills, or other short-dated government securities, that match their outstanding liabilities and provide regular attestation reports.

The law also directs bank regulators to set examination schedules, guarantees consumers the right to redeem at face value within specific time frames, and requires that reserve assets remain segregated unless customers give explicit consent for rehypothecation.

Last stretch

The House cleared the GENIUS Act 307‑122 on July 17, one day after adopting a 215‑211 motion to reconsider a procedural package that combined the GENIUS Act with the CLARITY Act and the Anti‑CBDC Surveillance Act.

Lawmakers first bundled the three measures on July 16 to expedite floor action, but that resolution did not constitute enrollable text. Committee staff then prepared the GENIUS language as a stand‑alone bill that both chambers could pass in identical form. 

The Senate approved the consolidated version late on July 17, completing the bicameral process required for enrollment and presentation to the White House.

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