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The Bank of Thailand is auditing high-volume USDT transactions to crack down on money laundering and gray money. The move expands bank compliance duties to cash networks, gold trading, and stablecoin flows.
SBI VC Trade in Japan launched a lending service for its yen stablecoin (JPY SC) offering a 3% annualized yield. David Bennett warns this smells like a scam, stressing the critical question is what generates the yield.
Seth For Privacy states they chose Bitcoin Lightning over stablecoins for initial integration because it represents freedom money, but stablecoins on Spark rails are being considered for non-Bitcoiners.
The Radar team sees stablecoin support via Spark as a future feature to serve users needing stable balances for remittances or funding dissidents, broadening the app's target beyond Bitcoiners.
Sony Bank received conditional OCC approval to establish a US national trust bank subsidiary capitalized at $40 million, aiming to issue a dollar stablecoin for games and anime payments.
Radar plans to support USD stablecoins like USDB on Spark, allowing users to choose a single balance type and swap between Bitcoin and stablecoins via FlashNet.
Vanguard is hiring a Head of Digital Assets to develop strategy for crypto, tokenization, stablecoins, and digital wallets, signaling a shift from its past skepticism. Bennett interprets this as capitulation to Bitcoin's permanence, not an imminent product launch.
The Reserve Bank of India wants to bar financial institutions from crypto exposure and warns that dollar-pegged stablecoins threaten domestic monetary sovereignty. Bennett argues dollar stablecoins will inevitably bypass such regulations and accelerate global dollar dominance.