Bitcoin holds as RFIA, stablecoin rules take shape

Latest crypto regulation news: stablecoins, bill delays, global oversight shifts

China has extended its crypto prohibition to cover stablecoins and tokenized real‑world assets, tightening enforcement on speculative activity and tokenization channels, as reported by PYMNTS. The move signals that stablecoin rails and asset tokenization are being folded into the country’s broader virtual‑asset restrictions.

In the United States, lawmakers postponed a planned vote on a major cryptocurrency bill just hours before a Senate session, according to Blockmanity. The delay adds to uncertainty around how Congress will structure market oversight and stablecoin regulation this session.

Global banking oversight is also in motion: Erik Thedéen, who chairs the Basel Committee on Banking Supervision, has questioned the blunt 1,250% risk‑weight approach for banks’ crypto exposures, as reported by the Financial Times. He has called for a more nuanced, risk‑based capital framework that reflects differences among crypto assets, including stablecoins.

Why this matters for markets, compliance, and stablecoin regulation

These developments matter because they shape what is permissible to trade, custody, and tokenize across jurisdictions. For compliance teams, a ban that explicitly captures stablecoins and tokenized assets narrows distribution channels and raises counterparty and on/off‑ramp screening obligations, while capital rules under debate could alter bank appetite for tokenization partnerships.

In the U.S., the delayed vote extends ambiguity over the SEC–CFTC split and the scope of stablecoin regulation. As reported by Business Insider, Senate Democrats have criticized the Responsible Financial Innovation Act (RFIA) for shifting too much authority toward the CFTC, while Republican sponsors present it as clarifying boundaries and lowering compliance ambiguity.

Institutional voices are urging that clarity be paired with governance standards that resemble traditional finance controls. As reported by News.Bitcoin.com, “U.S. regulatory clarity is only the start, urging TradFi‑style standards and governance transparency.”

Immediate impacts for exchanges, banks, and stablecoin issuers

For exchanges, a wider ban in a major market implies heightened geofencing, product delistings, and stricter screening for stablecoin and tokenized‑asset activity that could be linked to restricted jurisdictions. Banks evaluating tokenization and stablecoin services will need to model capital intensity and disclosure practices that remain in flux as global standard setters refine risk treatment.

For stablecoin issuers, policy shifts point to stronger reserve governance, audit cadence, and clarity on permissible backing assets. Issuers may also face pressures to align with prudentially supervised structures and to demonstrate transparent redemption mechanics as lawmakers weigh market‑structure and stablecoin bills.

At the time of this writing, Bitcoin (BTC) traded around 70,933 with very high 10.07% volatility and a 14‑day RSI near 35.75, based on data from Meyka. Such conditions frame, rather than drive, regulatory timelines and underscore why rules are being calibrated to balance innovation with risk management.

Stablecoin regulation: GENIUS Act and CFTC trust-bank issuance shift

In the United States, the GENIUS Act has been highlighted as a pathway to clearer stablecoin regulation, with Federal Reserve Governor Michelle Bowman endorsing the need for flexibility tailored to institution size and risk, as reported by Barron’s. The framing centers on stablecoins’ potential utility alongside stronger guardrails.

Alongside legislative efforts, policy debate continues around how oversight could intersect with commodities regulators such as the CFTC and bank‑trust issuance models for stablecoins. Any such shift would depend on statutory boundaries and coordination with prudential standards, and specifics have not been finalized.