UK House of Lords presses Coinbase exec on stablecoins, KYC and bank run fears
Lawmakers asked if stablecoins could drain bank deposits and threaten financial stability, while Coinbase and Innovate Finance warned that strict regulation risks driving innovation offshore.
South Korea moves to cap crypto exchange shareholder stakes at 20%: Report
South Korea’s government and ruling party reportedly agreed on a proposal to cap major shareholder stakes in crypto exchanges at 20%, with limited exemptions for new operators.
Kraken wins Kansas City Fed approval for limited master account access
In a first for crypto, Kraken’s banking unit gained access to the US Federal Reserve’s payment system, Fedwire, though without full banking privileges such as interest on reserves.
Iran’s largest crypto exchange shows no clear signs of capital flight: TRM
TRM said a post-strike spike in Nobitex wallet activity looked like routine liquidity moves, even as Chainalysis flagged higher outflows from Iranian exchanges overall.
FATF flags stablecoin P2P transfers as sanctions evasion risk
The international watchdog says P2P stablecoin transfers via self-custody wallets can bypass AML checks and urges countries to assess risks and apply proportionate safeguards.