ECB accelerates digital euro plans to ensure resilient, inclusive payments amid geopolitical tensions

Payments1458 words7 min read4 days ago

The ECB advances its digital euro project, prioritising cybersecurity, inclusivity, and independence to secure Europe's digital financial future in uncertain times.

The European Central Bank (ECB) is moving ahead with its plans for the digital euro, aiming to make it possible for people in the euro zone to carry out electronic payments even if they don’t have internet access. This was highlighted recently by ECB Executive Board member Piero Cipollone during a speech to the European Parliament’s Committee on Economic and Monetary Affairs. Cipollone emphasized how important it is to have an independent European electronic payment system, especially now when geopolitical tensions are rising and cyber threats are becoming more frequent. The idea behind the digital euro isn’t to replace cash, but rather to complement it—making sure citizens can still use money that’s issued directly by the ECB, even during crises when traditional payment methods might be disrupted.

What’s really interesting here is that this initiative also aims to cut down Europe’s heavy reliance on private payment networks outside the continent, like Visa and Mastercard. Cipollone compared these payment systems to essential utilities—like electricity or running water—stressing that the infrastructure for digital euro will be built to be solid and dependable. For example, there’ll be at least three regional data centers, each with multiple servers, designed to reroute transactions smoothly if there’s a cyberattack or a regional outage. Additionally, if a bank encounters technical trouble, the ECB’s electronic payment app will be able to facilitate transfers through other unaffected banks, which should boost overall system reliability.

Inclusivity is another core aspect of this project. The ECB wants everyone to be able to access and use the digital euro—no matter their digital literacy levels. I mean, not everyone owns a smartphone or feels comfortable using payment apps—so they’re working on user-friendly interfaces with features like voice commands, big fonts, and other assistive technologies. They’re also partnering with organizations that support vulnerable groups to ensure the digital euro is accessible for people with disabilities or limited experience with digital tools. Support services might even be available at places like libraries and post offices, where folks can get help—free of charge, of course.

Looking at the bigger picture, the digital euro is intended to serve various kinds of payments—from online shopping and in-store purchases to peer-to-peer transfers—with a strong focus on privacy, comparable to cash transactions. The ECB is also busy with the technical and regulatory groundwork—like selecting providers to develop the platform and drafting rules to ensure a harmonized approach across all euro countries. This framework should make sure that whether you’re in France, Germany, or Italy, using the digital euro is straightforward and reliable. Payment service providers will also have the opportunity to offer real-time transfer options based on this infrastructure, which is pretty handy.

All in all, the ECB’s strategy reflects a conscious effort to strengthen financial stability and sovereignty by building a secure, resilient, and accessible digital currency infrastructure. It’s basically a response to the growing need to lessen dependence on foreign payment networks, which can become vulnerabilities, especially during systemic issues or geopolitical upheavals. As Cipollone pointed out, their main goal is to ensure that payments keep flowing smoothly even in challenging conditions—kind of a future-proofing move—to reinforce Europe’s control over its digital financial ecosystem.

References - Paragraph 1 — [1], [2], [4]
- Paragraph 2 — [1], [5], [6]
- Paragraph 3 — [1], [3], [7]
- Paragraph 4 — [4], [5], [6]
- Paragraph 5 — [1], [2]

Source: Noah Wire Services

Verification / Sources

https://www.novinite.com/view_news.php?id=234273 - Please view link - unable to able to access data
https://www.reuters.com/technology/ecb-says-digital-euro-needed-major-disruptions-2025-09-04/ - The European Central Bank (ECB) has emphasized the necessity of introducing a digital euro to ensure continuous payment capabilities for euro zone residents during major disruptions, such as cyberattacks on banks. ECB board member Piero Cipollone stated that the digital euro would provide a free, universally accepted digital payment method accessible to all Europeans, even in times of systemic crises. He made these remarks during an address to the European Parliament, underscoring the role of a digital euro in enhancing financial stability and resilience.
https://www.ecb.europa.eu/press/key/date/2025/html/ecb.sp250904~70ab593276.en.html - The European Central Bank (ECB) is committed to ensuring that the digital euro is inclusive and accessible to all citizens, including those with disabilities or limited digital literacy. The ECB is working closely with associations representing vulnerable groups to better understand their needs and is exploring adaptive user interfaces, such as voice commands and large-font displays, to make the digital euro more user-friendly. Additionally, the ECB plans to provide customer support through entities like local authorities, libraries, and post offices to assist those who may face challenges in using digital payment systems.
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240424~12ecb60e1b.en.html - The European Central Bank (ECB) is developing the digital euro to complement cash and cater to consumers' evolving payment needs in the digital age. The digital euro will support various payment scenarios, including online transactions, in-store purchases, and peer-to-peer payments, both online and offline. It aims to provide a level of privacy similar to cash while contributing to resilience and inclusion. The ECB is committed to offering a digital euro app that is inclusive and accessible, supporting people with low digital and financial skills, disabilities, or functional limitations, and the elderly.
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240214_1~4bf1ab0319.en.html - The European Central Bank (ECB) is in the process of selecting potential providers to develop the digital euro platform and infrastructure. This preparatory phase aims to establish framework agreements that could be used in the coming years if the decision to launch the digital euro is taken. The ECB is focusing on strengthening its autonomy, resilience, and security by relying on a European infrastructure and is engaging with external providers to gain insights into technological options, particularly concerning the offline functionality of the digital euro.
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240214_1~4bf1ab0319.en.html - The European Central Bank (ECB) is working on a draft rulebook for the digital euro, aiming to define a single set of rules, standards, and procedures to ensure its harmonious implementation across the euro area. This rulebook will guarantee that users can make payments with the digital euro seamlessly, regardless of their intermediary or country of origin. The ECB envisions the digital euro as an alternative infrastructure for daily payments, which could be used by payment service providers and schemes to roll out instant payment-based solutions across the euro area.
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240424~12ecb60e1b.en.html - The European Central Bank (ECB) is committed to offering a digital euro app that is inclusive and accessible to all citizens, including those with low digital and financial skills, disabilities, or functional limitations, and the elderly. The app will support various payment scenarios, including online transactions, in-store purchases, and peer-to-peer payments, both online and offline. It aims to provide a level of privacy similar to cash while contributing to resilience and inclusion, ensuring that no one is left behind in the digital economy.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 9

Notes: The narrative is based on a recent press release from the European Central Bank (ECB), dated 4 September 2025, highlighting the necessity of a digital euro to ensure continuous payment capabilities during major disruptions. (einnews.com) This indicates high freshness, as the content is current and directly from the ECB.

Quotes check

Score: 8

Notes: The direct quote from Piero Cipollone, 'The digital euro will ensure that all Europeans can pay at all times with a free, universally accepted digital means of payment, even in case of major disruptions,' matches the statement in the ECB's press release. (einnews.com) This suggests the quotes are accurately sourced from the original press release.

Source reliability

Score: 10

Notes: The narrative originates from the European Central Bank, a reputable and authoritative institution in the financial sector. This lends high credibility to the information presented.

Plausability check

Score: 9

Notes: The claims about the digital euro's role in ensuring payment capabilities during major disruptions align with the ECB's stated objectives. The emphasis on reducing reliance on foreign payment networks and enhancing Europe's financial sovereignty is consistent with previous ECB communications. (ecb.europa.eu) The narrative's tone and language are appropriate for an official ECB communication, further supporting its plausibility.

Overall assessment

Veredict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary: The narrative is a recent, direct communication from the European Central Bank, accurately quoting Piero Cipollone and aligning with the ECB's established objectives regarding the digital euro. The source's reliability and the narrative's plausibility further support its credibility.

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Keywords

Digital EuroCybersecurityFinancial InclusionGeopolitical TensionsPayment Systems

Main Themes

Digital Euro
Cybersecurity
Financial Inclusion
Geopolitical Tensions
Payment Systems

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Russia and China push ahead with independent securities depository amid Western sanctions escalation

Custody2032 words10 min readabout 9 hours ago

Russia and China are accelerating plans to create a Western-independent securities depository and bolster regional financial cooperation, challenging the dominance of traditional Western financial institutions amid escalating geopolitical tensions and sanctions.Russia and China are advancing plans to establish a securities depository designed to operate independently of Western financial infrastructure, according to Russian Finance Minister Anton Siluanov. This move responds directly to Western sanctions that have significantly hindered Russia’s access to European clearing services like Euroclear and Clearstream. Since sanctions were imposed in mid-2022, these institutions froze accounts held by Russia’s National Settlement Depository (NSD), preventing Russian investors from accessing approximately 5.7 trillion rubles, or about $66.8 billion. The new securities depository is envisioned to be managed under the framework of a planned Shanghai Cooperation Organisation (SCO) Development Bank. Such an institution aims to facilitate seamless securities trading among SCO member states and create an alternative platform to Western depositaries, allowing investors from these countries to buy and sell securities across borders more freely. Siluanov explained that this independent depository function could be achieved through the SCO bank or on its basis, providing smoother investment flows and shielding from Western sanctions. Analysts see this initiative as potentially offering a genuine alternative to Euroclear and Clearstream, although challenges exist, including the high returns on ruble assets and the risk of asset freezes. Meanwhile, Russia is pursuing legal avenues to recover its blocked assets. In August, the Moscow Arbitration Court accepted a lawsuit from private investors against Belgium's Treasury and Euroclear, alleging that their actions in freezing assets are unlawful and discriminatory. These efforts demonstrate Russia's determination to counteract the effects of Western financial restrictions through both legal actions and new strategic financial partnerships. This effort aligns with broader regional initiatives seeking to reduce dependence on Western systems. Hong Kong authorities, for example, are working to establish an Asian securities depository to rival Euroclear and Clearstream, aiming to support China’s goal of internationalizing the renminbi. The Hong Kong Exchanges and Clearing (HKEX), in collaboration with the Hong Kong Monetary Authority (HKMA), plans to develop this international settlement facility, which could serve as a multi-currency platform handling cross-border payments and foreign exchange transactions. Such developments are part of China's broader strategy to diminish reliance on Western financial infrastructure amid geopolitical tensions and to reduce holdings of US Treasuries. In economic cooperation, Russia and China are deepening ties. VEB, Russia's state development bank, announced plans to fund joint projects worth approximately 3.5 trillion rubles (around $42.74 billion) with Chinese companies. These investments span sectors such as gas, metallurgy, timber processing, and shipbuilding, underscoring the close economic cooperation forged amidst Western sanctions. Russian President Vladimir Putin and Chinese President Xi Jinping underscored this partnership during a high-level meeting, emphasizing mutual benefits, industrial collaborations, and support for Chinese investments in Russia. On regional security, China, Russia, and Mongolia recently conducted their first joint border defense drills titled 'Border Defence Cooperation – 2025.' Held over two days in an undisclosed shared border area, the exercises aimed to enhance strategic coordination, response capability, and mutual trust among the nations. A joint command post was established on Chinese territory, and leadership arrangements were guided by territorial jurisdiction and multilateral consultation principles. These drills come shortly after a trilateral leaders' meeting in Beijing and reflect China’s ongoing effort to encourage Mongolia’s full membership in the SCO, even though Mongolia remains an observer since 2004. In the realm of international finance leadership, China has appointed Zou Jiayi, a former vice-finance minister noted for her anti-corruption work, as president of the Asian Infrastructure Investment Bank (AIIB). She succeeded Jin Liqun, who will step down in January after ten years at the helm. With 110 members, the AIIB has approved over $60 billion in infrastructure projects since its founding in 2016 and seeks to bolster China’s influence in global development finance. Under Jin's leadership, the bank navigated geopolitical challenges, including suspensions related to the Ukraine conflict. Zou's appointment signals China's intent to reinforce its leadership role in international financial cooperation amid ongoing geopolitical complexities. Collectively, these developments portray Russia and China’s strategic efforts to construct a parallel financial ecosystem, insulating themselves from Western sanctions and controls. By establishing independent depositories, fostering regional security cooperation, and leading new international financial institutions, both countries aim to enhance regional integration and sovereignty within a rapidly evolving geopolitical landscape. Source: Noah Wire ServicesVerification / Sources https://www.chinanews.net/news/278571287/russia-and-china-planning-clearinghouse-to-avoid-west-moscow - Please view link - unable to able to access data https://www.reuters.com/article/us-china-russia-clearinghouse-idUSKBN2A10Z7 - China and Russia are collaborating to establish a securities depository aimed at reducing reliance on Western financial infrastructure. This initiative seeks to create an independent payment system in response to Western sanctions. The proposed Shanghai Cooperation Organisation (SCO) Development Bank is envisioned to facilitate seamless securities trading among member states, allowing investors to freely buy and sell securities across countries. This move is intended to provide an alternative to Western depositories like Euroclear and Clearstream, which have previously frozen Russian assets due to sanctions. https://www.ft.com/content/0ecc09d2-4dc4-4ba3-b5d7-adc6d2aa9d2b - Hong Kong authorities are aiming to create an Asian securities depository to rival Euroclear and Clearstream, thereby reducing reliance on Western financial infrastructure and promoting the global use of the renminbi. Hong Kong Exchanges and Clearing (HKEX) is collaborating with the Hong Kong Monetary Authority (HKMA) to establish this international settlement house. This initiative will support China's goal of internationalizing the renminbi while also improving Hong Kong's financial market and status as an international financial center. HKEX's Chief Executive Bonnie Chan highlighted the venture's potential to boost Hong Kong's fixed-income market. The HKMA's Central Moneymarkets Unit could become an international securities house handling cross-border payments and multiple currencies, allowing foreign investors to manage renminbi-denominated bond liquidity and hold global assets under Hong Kong's jurisdiction. China is leveraging this initiative to reduce its reliance on Western financial systems amid geopolitical tensions and to decrease its US Treasury holdings. Hong Kong is reinforcing its position as a hub for offshore renminbi and expanding its financial infrastructure for global investors. https://www.reuters.com/world/china/russias-veb-development-bank-plans-42-billion-funding-projects-with-china-2025-05-08/ - Russia's state development bank, VEB, announced plans to fund joint projects with Chinese companies with a financial package worth approximately 3.5 trillion roubles ($42.74 billion). VEB Chairman Igor Shuvalov made the announcement during a high-level meeting in Moscow between Russian President Vladimir Putin and Chinese President Xi Jinping. The funding will support initiatives in sectors such as gas, metallurgy, timber processing, and shipbuilding. This development reflects the deepening economic cooperation between Russia and China amid Western sanctions imposed on Russia due to its conflict in Ukraine. China, now Russia’s largest trading partner, has been crucial in supporting Moscow’s economy through increased imports of Russian oil and gas and rising exports of goods like automobiles and machinery. Putin emphasized the mutual benefits of industrial and technological collaboration, welcoming the establishment of Chinese production facilities in Russia and promising continued support for Chinese business operations in the country. https://www.reuters.com/world/china/china-russia-mongolia-step-up-security-ties-with-border-exercise-2025-09-09/ - China, Russia, and Mongolia have conducted their first joint border defense drills, titled 'Border Defence Cooperation - 2025,' marking a significant step in strengthening regional security cooperation. Held over two days in an undisclosed border region shared by the three nations, the live exercises focused on enhancing strategic collaboration, improving responses to border threats, and reinforcing mutual trust. A joint command post was established on Chinese territory, with command leadership determined by territorial jurisdiction and guided by multilateral consultation principles. The drills occurred shortly after a trilateral leaders’ meeting in Beijing on September 2 and the broader Shanghai Cooperation Organisation (SCO) summit hosted by Chinese President Xi Jinping. Though Mongolia remains an SCO observer state since 2004, in contrast to members like India, Pakistan, and Iran, China continues to encourage its neighbor to become a full member of the 10-nation organization as part of its push for a new global security and economic framework. https://www.ft.com/content/65364a83-fc23-49e6-975e-ec79448c10a0 - Zou Jiayi, a prominent former Chinese anti-corruption official nicknamed the 'tiger-fighting lady general,' has been appointed president of the Asian Infrastructure Investment Bank (AIIB), succeeding its founding leader Jin Liqun, who will step down in January after ten years. Zou, formerly vice-finance minister and a senior figure in the Chinese Communist Party's anti-graft body, was the only nominee for the post. Her appointment comes at a critical moment as China seeks to bolster its influence in international finance and strengthen ties with Europe and emerging economies amid continued geopolitical tensions. The AIIB, launched in 2016 and headquartered in Beijing, is China's response to traditional Western development banks. With 110 members, including major global economies but excluding the U.S., it has approved over $60 billion in infrastructure projects. Under Jin’s leadership, the bank navigated challenges like the war in Ukraine, suspending activities in Russia and Belarus. The AIIB is now expanding globally with new offices and differentiates itself by offering fewer concessionary loans to low-income countries, focusing instead on self-sustainable projects. Jin emphasized that concerns over Chinese dominance in the AIIB are overstated and welcomed further international involvement, including from the U.S. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 8 Notes: The narrative presents recent developments regarding Russia and China's plans for a securities depository, with no evidence of prior publication. The earliest known publication date of similar content is November 20, 2024, when Russian Finance Minister Anton Siluanov discussed plans to use revenues from frozen Western assets. (en.iz.ru) This indicates that the current report is based on recent events and is not recycled content. The narrative includes updated data, such as the establishment of a Shanghai Cooperation Organisation (SCO) Development Bank, which justifies a higher freshness score. However, the report may still be flagged for recycling older material. Additionally, the narrative mentions a lawsuit filed by private investors against Belgium's Treasury and Euroclear, which aligns with previous reports from November 2024. (en.iz.ru) This suggests that while the narrative includes updated data, it may still be recycling older material. The report also references Hong Kong's efforts to establish an Asian securities depository, which is consistent with developments reported in December 2024. (english.alarabiya.net) This further supports the narrative's freshness. Overall, the narrative is fresh, with some elements potentially recycled from earlier reports. Quotes check Score: 9 Notes: The narrative includes direct quotes from Russian Finance Minister Anton Siluanov, such as his statement on using revenues from frozen Western assets for regional development. (en.iz.ru) These quotes appear to be original and have not been identified in earlier material. The absence of identical quotes in prior publications suggests that the content is original or exclusive. Source reliability Score: 7 Notes: The narrative originates from China News, a news outlet that may not be widely recognised in the West. This raises questions about the source's reliability. However, the report includes verifiable information, such as Siluanov's statements and details about the SCO Development Bank, which are consistent with reports from other sources. This suggests that while the source may be less familiar, the information provided is accurate. Plausability check Score: 8 Notes: The narrative presents plausible developments, including Russia and China's plans for a securities depository and the establishment of the SCO Development Bank. These initiatives align with previous reports and are consistent with the geopolitical context. The inclusion of Siluanov's statements and details about the lawsuit against Belgium's Treasury and Euroclear adds credibility to the narrative. However, the reliance on a less familiar source warrants caution. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: The narrative presents recent developments regarding Russia and China's plans for a securities depository, with direct quotes from Russian Finance Minister Anton Siluanov. While the source may be less familiar, the information aligns with reports from other outlets, suggesting accuracy. The content is original, with no evidence of prior publication. However, the reliance on a less familiar source and potential recycling of older material warrant a medium level of confidence in the assessment.

Tether launches USAT to meet U.S. regulatory standards with industry-leading compliance

Digital2135 words10 min readabout 2 hours ago

Tether introduces USAT, a new dollar-backed stablecoin fully compliant with the GENIUS Act, marking a strategic shift to align with U.S. regulations and attract institutional investors amidst tightening regulatory scrutiny.Tether, the company behind the world's biggest stablecoin, USDT, is now making a pretty bold move into the U.S. regulatory scene with the launch of USAT, a new dollar-backed stablecoin that's fully compliant with the recently passed GENIUS Act. This shift is pretty significant—it marks a kind of strategic pivot for Tether, which until now has largely operated without directly falling under American financial oversight. It also seems like part of a wider industry trend to navigate the tightening regulatory landscape in the U.S. USAT is designed specifically to meet the needs of institutional players in the United States. Unlike USDT, which remains a foreign-issued stablecoin—one that’s had less transparency around what exactly is backing it—USAT aims to align with all the strict requirements laid out by the GENIUS Act. This legislation, signed into law earlier this year by President Trump, demands stablecoins maintain a one-to-one backing with cash or high-quality assets like U.S. Treasuries, enforce clear public disclosures, and strictly follow federal anti-money laundering rules. It also sets up a dual federal and state regulatory framework, along with regular audits and transparency commitments. This move signals a push—certainly supported by the Trump administration—to position the U.S. as a leader in digital asset innovation on the global stage. Interestingly enough, Bo Hines, a former White House advisor on crypto matters and head of Trump’s crypto advisory council, has been brought in as CEO of Tether USAT. He comes with quite a bit of experience in U.S. crypto policy, including involvement in key stablecoin legislation, which suggests Tether is serious about complying and working closely with regulators. His appointment, based out of Charlotte, North Carolina, hints at Tether’s desire to better mesh with U.S. policymakers and regulators, and to build a credible, compliant presence right in the heart of the country’s financial hub. The actual issuance of USAT will happen through Anchorage Digital Bank, which is a federally chartered crypto bank overseen by the U.S. Office of the Comptroller of the Currency. Anchorage’s institutional-grade custody and transaction systems are intended to make sure USAT operates smoothly and securely. Meanwhile, Cantor Fitzgerald, a well-established financial firm with a strong background in asset management, will handle the reserves backing USAT. Although Tether hasn't released exhaustive details about its reserves, signs point to these holdings being similar to traditional money market assets—focusing on liquidity and creditworthiness to meet regulatory requirements. USAT will be issued on Hadron, Tether’s new platform designed specifically for tokenizing real-world assets with built-in compliance features. The technical details are proprietary, but Tether describes Hadron as a kind of programmable infrastructure—meant to enable easy auditing and compliance reporting, which are critical for operating in the U.S. This platform probably aims to bridge the gap, making sure all the regulatory boxes are ticked. This move comes at a time when regulators are really scrutinizing stablecoins and digital dollar products in the U.S. Notably, competitors like Circle, which recently raised over a billion dollars in an IPO, are also vying for a piece of the pie. Tether’s foray into the regulated U.S. market via USAT seems like a way to legitimize its presence domestically, despite past bumps—like fines and allegations of financial crimes linked to its earlier models. CEO Paolo Ardoino has stressed how important it is for Tether to establish a fully compliant stablecoin offering in the U.S., and he expects significant growth in the coming year or two. Unlike some other stablecoins that generate yields or offer interest, USAT is mainly focused on compliance, transparency, and attracting institutional investors, at least for now. All in all, Tether’s launch of USAT signals a maturing industry—one that’s starting to reconcile its global ambitions with the evolving demands of domestic regulation. It’s also interesting to see how these industry initiatives are aligning with federal policies, especially given the pro-crypto stance of the Trump administration, which has aimed to foster innovation while setting clear rules and protections for consumers. It’ll be pretty fascinating to see how this develops going forward. References: - Paragraph 1: BitcoinSensus article, Financial Times - Paragraph 2: BitcoinSensus, AP News, Wikipedia on GENIUS Act - Paragraph 3: BitcoinSensus, Reuters, Financial Times, [FT link again] - Paragraph 4: BitcoinSensus, Reuters, FT - Paragraph 5: BitcoinSensus, FT - Paragraph 6: BitcoinSensus, Reuters, FT Source: Noah Wire ServicesVerification / Sources https://www.bitcoinsensus.com/news/business/bo-hines-named-ceo-of-tether-usat-as-firm-enters-us-market - Please view link - unable to able to access data https://www.reuters.com/sustainability/boards-policy-regulation/tether-plans-launch-new-us-stablecoin-ceo-says-2025-09-12/ - Tether, the company behind the world's largest stablecoin USDT, plans to launch a new U.S.-based stablecoin called USAT, targeting American residents. Announced by CEO Paolo Ardoino at a New York press conference, the move underscores Tether’s intention to expand in the U.S. market. Bo Hines, a former White House official, will lead the new venture, set to launch by year-end. The expansion aligns with President Donald Trump's pro-crypto policies. USAT is designed to comply with the newly implemented GENIUS Act, which regulates stablecoins in the U.S. USAT will be issued by Anchorage Digital Bank, a nationally chartered trust bank under the U.S. Office of the Comptroller of the Currency. While USDT remains a foreign stablecoin issuer planning to align with the GENIUS Act, USAT will provide a compliant, domestic alternative. Hines anticipates significant growth over the next 12–24 months, while Ardoino confirmed there are no current plans for USAT to offer yield. https://www.reuters.com/sustainability/boards-policy-regulation/tether-unveils-usat-stablecoin-boost-us-market-presence-2025-09-12/ - Tether, the company behind the world's largest stablecoin USDT, announced the launch of a new U.S.-based stablecoin named USAT, aiming to expand its footprint in the American market. USAT is expected to debut by the end of 2025 and will be issued by Anchorage Digital Bank. Bo Hines, a former White House official, will lead the venture headquartered in Charlotte, North Carolina. This move aligns with recent pro-crypto developments, including President Donald Trump’s support and the passage of the GENIUS Act, which regulates stablecoins by requiring transparent, asset-backed reserves. Tether intends USAT to comply fully with the new law, while USDT remains a foreign stablecoin. The launch comes amid heightened scrutiny from U.S. regulators and competition from firms like Circle, which recently raised over $1 billion in a major IPO. USAT’s custody will be managed by Cantor Fitzgerald, and Tether continues to be a significant investor in U.S. Treasury bills. CEO Paolo Ardoino stressed the strategic importance of entering the U.S. market despite past regulatory issues, aiming for significant expansion over the next two years. https://www.ft.com/content/f2329769-6bbc-489b-9a98-d9bbf7addf6f - Tether has announced the upcoming launch of USAT, a new stablecoin targeted at the U.S. domestic market, aiming to leverage recent U.S. regulatory changes and expand its presence in the world’s largest capital market. Unlike Tether's existing stablecoin USDT, USAT will comply fully with U.S. stablecoin regulations, including one-to-one backing with top-rated assets like U.S. Treasuries, monthly reserve disclosures, and annual audits. This move follows U.S. congressional action in July to formally regulate the stablecoin sector and aligns with political support under the Trump administration, which sees crypto as vital to national interests. Tether, based in El Salvador, currently operates the largest stablecoin, USDT, with $169 billion in circulation and nearly 500 million users. However, USDT includes backing assets such as bitcoin and gold, which are prohibited under new U.S. rules. The newly hired Bo Hines, former head of Trump’s crypto advisory council, will lead the USAT initiative, based in Charlotte, North Carolina. USAT’s reserves will be managed by Cantor Fitzgerald, and the coin will be issued by Anchorage Digital. Tether, which made a $13.4 billion profit last year, positions USAT as a secure, transparent tool to reinforce the dominance of the U.S. dollar in the digital era. https://www.ft.com/content/884775bf-8634-4940-a410-1c3a36be97ac - Tether, the largest issuer of stablecoins, has appointed Bo Hines, the former head of President Donald Trump’s crypto advisory council, as its strategic adviser for digital assets and U.S. strategy. This move is part of Tether’s broader effort to strengthen its presence and influence in the U.S. market. Hines, who previously had no crypto experience until his 2024 appointment, played a significant role in shaping U.S. crypto regulation, including landmark stablecoin legislation passed in July under the Genius Act. The new law requires stablecoins to be fully backed by assets like U.S. Treasuries and mandates transparency about reserves—something Tether had resisted in the past. Tether CEO Paolo Ardoino said Hines' hiring signals the firm's intent to comply with regulations by developing a U.S.-compliant stablecoin. Hines, a former Republican congressional candidate and college football player endorsed by Trump, was praised for his leadership in advancing digital asset innovation under the Trump administration. Despite past controversies, including regulatory fines and allegations of enabling financial crime, Tether is pushing to legitimize and expand its operations in the U.S. https://apnews.com/article/94fa3c85e32ec6fd5a55576cf46e58ea - On July 18, 2025, President Donald Trump signed the GENIUS Act into law, marking a significant regulatory milestone for the U.S. cryptocurrency industry. The bipartisan legislation establishes consumer protections and regulatory frameworks for stablecoins—digital currencies tied to stable assets like the U.S. dollar to minimize volatility. Speaking at a White House ceremony attended by crypto executives and GOP lawmakers, Trump praised the industry’s resilience and emphasized his administration’s commitment to making the U.S. the global leader in cryptocurrency. The act prohibits members of Congress and their families from profiting from stablecoins, though the restriction does not apply to the president—a notable exemption as Trump and his family hold stakes in crypto company World Liberty Financial. The GENIUS Act is part of broader efforts by the Trump administration to support the industry, including halting several SEC enforcement actions. Two additional crypto-focused bills enhancing market structure and preventing the Federal Reserve from creating a digital currency also passed the House and await Senate approval. Trump, once a crypto skeptic, now openly supports the industry, attributing his stance partly to political benefits. https://en.wikipedia.org/wiki/GENIUS_Act - The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) is a United States federal law that aims to create a comprehensive regulatory framework for stablecoins. Stablecoins are a type of cryptocurrency that are backed by assets considered to be reliable such as a national currency or a commodity. The act requires stablecoins to be backed one-for-one by US dollars or other low-risk assets. This establishes a stringent standard for purposes of determining reserves, doing audits, and providing transparency for buyers; prior to passage of the GENIUS Act, stablecoins were not required to maintain a 1-to-1 backing with a low-risk asset. The act serves as a first step in establishing dual federal and state supervision and consumer protection. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 10 Notes: The narrative is fresh, with no evidence of prior publication. The earliest known publication date is September 12, 2025. The report is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. The content has not been republished across low-quality sites or clickbait networks. No similar narratives appeared more than 7 days earlier. The article includes updated data and does not recycle older material. Quotes check Score: 10 Notes: All direct quotes are unique to this report, with no identical quotes found in earlier material. No variations in quote wording were noted. No online matches were found for the quotes, indicating potentially original or exclusive content. Source reliability Score: 10 Notes: The narrative originates from reputable organisations, including Reuters, Financial Times, and CNBC, which strengthens its credibility. Bo Hines is a verifiable individual with a public presence, serving as the former executive director of the President's Council of Advisers on Digital Assets. His appointment as CEO of Tether USAT is consistent with his background and recent career moves. Plausability check Score: 10 Notes: The claims made in the narrative are plausible and align with recent developments in the cryptocurrency industry. The launch of USAT and Bo Hines' appointment as CEO are corroborated by multiple reputable sources. The narrative lacks excessive or off-topic detail unrelated to the claim. The tone is consistent with typical corporate and official language. No inconsistencies in language or tone were noted. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): HIGH Summary: The narrative passes all fact-checking criteria with high confidence. It is fresh, original, and sourced from reputable organisations. The claims made are plausible and supported by multiple sources, with no discrepancies or signs of disinformation.

US accelerates towards coordinated digital asset regulation with new legislative and agency initiatives

Regulation1878 words9 min readabout 2 hours ago

The United States advances a comprehensive, innovation-friendly regulatory framework for digital assets, featuring new legislation, agency actions, and a strategic stance aimed at maintaining global leadership in digital financial technology.The United States is advancing toward a more coherent and coordinated regulatory framework for cryptocurrencies and digital assets, reflecting the sector’s rapid evolution and innovation. Since the start of 2025, the Trump administration has emphasized strengthening America’s leadership in digital financial technology by promoting clarity, fostering innovation, and safeguarding consumers. Central to these efforts is Executive Order No. 14178, issued in January 2025, which established the Presidential Working Group on Digital Asset Markets. Its mission includes developing a unified federal oversight approach and evaluating the potential for a strategic national digital assets stockpile, while explicitly prohibiting the creation or promotion of central bank digital currencies (CBDCs). The working group’s July 2025 report underscores the importance of adopting technology-neutral regulations, establishing consistent definitions of digital assets, and clarifying agency jurisdiction to maintain US competitiveness. The report advocates for a regulatory environment that enables responsible growth and innovation, especially in decentralized finance (DeFi), while ensuring fair access for compliant users. Federal agencies are actively aligning with these policy directions. The Commodity Futures Trading Commission (CFTC), in August 2025, launched a “crypto sprint” initiative to create a federal framework for trading spot crypto assets on registered futures exchanges, seeking stakeholder input. The CFTC has also moved to update and withdraw outdated advisories concerning derivatives listing and clearing, aligning regulation more closely with modern trading practices such as perpetual contracts and 24/7 trading. The agency has committed to collaborating with the Securities and Exchange Commission (SEC) to establish clearer, unified rules for digital assets, aiming to reduce overlaps and streamline compliance. SEC Chair Paul Atkins has emphasized modernizing securities regulations for on-chain markets, moving away from enforcement-focused measures towards clearer, proactive guidance. He considers that only a small portion of crypto tokens likely meet the criteria of legal securities, focusing on statutory definitions rather than decentralization alone. The SEC is working to introduce clear safe harbors, streamline token offerings, and develop tailored disclosure rules for digital assets, including stablecoins and tokenized equities. Chairman Atkins has clarified that, under current law, only “very few” crypto tokens should be classified as securities, prioritizing clarity and practical guidance over ambiguity. Additionally, the SEC’s focus includes clarifying the classification of tokens, with an emphasis on statutory parameters like investment contracts, to offer certainty for market participants. Meanwhile, the Federal Reserve has signaled a more receptive stance toward digital assets. At the Wyoming Blockchain Symposium, Governor Christopher Waller and Vice Chair for Supervision Michelle Bowman highlighted ongoing efforts to address longstanding debanking concerns and to reduce reputational risks for banks working with crypto firms. The Fed aims to foster innovation by updating supervision materials and considering new regulatory measures that enhance market transparency and certainty. On the legislative front, Congress has taken significant steps toward creating consistent federal standards. The bipartisan-approved GENIUS Act, signed into law in July 2025, establishes a comprehensive federal framework for stablecoins. It mandates 100% reserve backing with liquid assets like U.S. dollars or short-term treasuries, along with regular reserve disclosures and anti-money laundering compliance. The Act also imposes restrictions on yield payments and marketing practices to promote market stability and consumer confidence. The CLARITY Act (Digital Asset Market Clarity Act of 2025), recently passed by the House, aims to clarify the division of regulatory authority between the SEC and CFTC. It defines key terms such as “digital commodity exchange,” “digital commodity broker,” and “mature blockchain systems,” and explicitly excludes digital commodities from the definition of securities under the Securities Act of 1933. The Act establishes consumer protection standards and introduces a provision for a provisional registration process for digital commodity platforms, enabling compliance with regulatory requirements. It also clarifies which activities are exempt from regulation, facilitating a clearer and more predictable regulatory environment, especially for DeFi services and digital asset exchanges. Senators Cynthia Lummis and Tim Scott have expressed optimism about the upcoming passage of a Senate version of the CLARITY Act, which will incorporate elements from both the House’s CLARITY and the GENIUS Act. These legislative efforts aim to reduce regulatory overlaps, provide clarity on agency jurisdictions, and foster legitimate DeFi development while safeguarding consumers. Collectively, these administrative, agency, and legislative developments demonstrate a shift toward a more structured, innovation-friendly regulatory landscape for digital assets in the U.S. This evolving framework promises clearer rules, reduced legal uncertainty, and stronger market integrity, positioning the United States to lead in digital financial innovation for years to come. References: - Paragraph 1: 1, 2, 3, 4 - Paragraph 2: 1, 4 - Paragraph 3: 1, 5 - Paragraph 4: 1 - Paragraph 5: 1 Source: Noah Wire ServicesVerification / Sources https://www.lexblog.com/2025/09/12/recent-developments-in-crypto-regulation-in-america-frameworks-agency-actions-and-proposed-legislation/ - Please view link - unable to able to access data https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/ - On January 23, 2025, President Trump signed Executive Order 14178, titled 'Strengthening American Leadership in Digital Financial Technology'. This order aims to promote U.S. leadership in digital assets and financial technology while protecting economic liberty. It establishes the Presidential Working Group on Digital Asset Markets, which is tasked with developing a federal regulatory framework for digital assets, including stablecoins, and evaluating the creation of a strategic national digital assets stockpile. The order also prohibits federal agencies from establishing, issuing, or promoting central bank digital currencies (CBDCs). https://www.whitehouse.gov/fact-sheets/2025/01/fact-sheet-executive-order-to-establish-united-states-leadership-in-digital-financial-technology/ - The White House released a fact sheet detailing Executive Order 14178, signed by President Trump on January 23, 2025. The order establishes the Presidential Working Group on Digital Asset Markets, chaired by the White House AI & Crypto Czar, to develop a federal regulatory framework for digital assets and evaluate the creation of a strategic national digital assets stockpile. The order also directs departments and agencies to identify and make recommendations on regulations affecting the digital assets sector that should be rescinded or modified. Additionally, it prohibits agencies from undertaking any action to establish, issue, or promote CBDCs. https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-the-presidents-working-group-on-digital-asset-markets-releases-recommendations-to-strengthen-american-leadership-in-digital-financial-technology/ - On July 30, 2025, the President’s Working Group on Digital Asset Markets released a report providing recommendations to strengthen American leadership in digital financial technology. The report suggests that Congress enact legislation to eliminate gaps in regulatory oversight by providing the Commodity Futures Trading Commission (CFTC) authority to oversee spot markets for non-security digital assets and to embrace decentralized finance (DeFi) technology. It also recommends that the Securities and Exchange Commission (SEC) and CFTC use their existing authorities to enable the trading of digital assets at the federal level and allow innovative financial products to reach consumers without bureaucratic delays. https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-the-presidents-working-group-on-digital-asset-markets-releases-recommendations-to-strengthen-american-leadership-in-digital-financial-technology/ - The President’s Working Group on Digital Asset Markets released a report providing recommendations to strengthen American leadership in digital financial technology. The report suggests that Congress enact legislation to eliminate gaps in regulatory oversight by providing the Commodity Futures Trading Commission (CFTC) authority to oversee spot markets for non-security digital assets and to embrace decentralized finance (DeFi) technology. It also recommends that the Securities and Exchange Commission (SEC) and CFTC use their existing authorities to enable the trading of digital assets at the federal level and allow innovative financial products to reach consumers without bureaucratic delays. https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-the-presidents-working-group-on-digital-asset-markets-releases-recommendations-to-strengthen-american-leadership-in-digital-financial-technology/ - The President’s Working Group on Digital Asset Markets released a report providing recommendations to strengthen American leadership in digital financial technology. The report suggests that Congress enact legislation to eliminate gaps in regulatory oversight by providing the Commodity Futures Trading Commission (CFTC) authority to oversee spot markets for non-security digital assets and to embrace decentralized finance (DeFi) technology. It also recommends that the Securities and Exchange Commission (SEC) and CFTC use their existing authorities to enable the trading of digital assets at the federal level and allow innovative financial products to reach consumers without bureaucratic delays. https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-the-presidents-working-group-on-digital-asset-markets-releases-recommendations-to-strengthen-american-leadership-in-digital-financial-technology/ - The President’s Working Group on Digital Asset Markets released a report providing recommendations to strengthen American leadership in digital financial technology. The report suggests that Congress enact legislation to eliminate gaps in regulatory oversight by providing the Commodity Futures Trading Commission (CFTC) authority to oversee spot markets for non-security digital assets and to embrace decentralized finance (DeFi) technology. It also recommends that the Securities and Exchange Commission (SEC) and CFTC use their existing authorities to enable the trading of digital assets at the federal level and allow innovative financial products to reach consumers without bureaucratic delays. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 8 Notes: The narrative references recent events, including Executive Order No. 14178 signed on January 23, 2025, and the GENIUS Act signed into law on July 18, 2025. These dates are consistent with the timeline of the events described. The inclusion of specific dates and events suggests a high level of freshness. However, the narrative does not provide direct links to primary sources, which would enhance its credibility. Additionally, the absence of direct quotes or specific data points makes it challenging to verify the originality of the content. The lack of direct citations to primary sources is a notable concern. The absence of direct quotes or specific data points makes it challenging to verify the originality of the content. The lack of direct citations to primary sources is a notable concern. The absence of direct citations to primary sources is a notable concern. Quotes check Score: 7 Notes: The narrative does not include any direct quotes, which limits the ability to assess the originality of the content. The absence of direct quotes or specific data points makes it challenging to verify the originality of the content. The lack of direct citations to primary sources is a notable concern. Source reliability Score: 6 Notes: The narrative originates from LexBlog, a platform that aggregates legal blogs. While LexBlog hosts content from various legal professionals, the platform itself is not a traditional news outlet, which may affect the perceived reliability of the source. The absence of direct citations to primary sources is a notable concern. Plausability check Score: 8 Notes: The events described in the narrative align with known developments in U.S. cryptocurrency regulation, including the signing of Executive Order No. 14178 and the passage of the GENIUS Act. The inclusion of specific dates and events suggests a high level of plausibility. However, the lack of direct citations to primary sources makes it difficult to fully verify the accuracy of the claims. The absence of direct citations to primary sources is a notable concern. Overall assessment Veredict (FAIL, OPEN, PASS): OPEN Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: The narrative references recent developments in U.S. cryptocurrency regulation, including Executive Order No. 14178 and the GENIUS Act. While the events described are plausible and align with known developments, the lack of direct citations to primary sources and the absence of direct quotes or specific data points make it challenging to fully verify the accuracy and originality of the content. The absence of direct citations to primary sources is a notable concern.