
ECB Official Warns Stablecoins Could Drain Bank Deposits, Pushes Digital Euro
ECB board member Piero Cipollone outlines three threats from digital payments and proposes the digital euro as a remedy.
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Original coverage across the crypto market, updated daily.

ECB board member Piero Cipollone outlines three threats from digital payments and proposes the digital euro as a remedy.
Bank of America appoints Sonali Theisen to lead digital assets and Kevin Milsom for AI transformation.
Rotterdam court declares Knaken bankrupt under EU MiCA rules; prosecutors allege $8 million in customer funds missing.

HSBC Orion received Bank of England approval to test digital securities, with a gilt transaction planned for early 2027.
JPMorgan and Goldman Sachs lead record earnings, highlighting the strength of traditional finance that stablecoins aim to challenge.

EthSystems, a new spinout from the Ethereum Foundation, aims to bring blockchain privacy technology to the banking sector.
Thailand's central bank plans to require proof of funds for large cash deposits and audit USDT transactions with securities regulators.
The 21st Century ROAD to Housing Act includes a provision prohibiting the Fed from issuing a central bank digital currency.
Investment bank Goldman Sachs now predicts the yen will weaken to 165 per dollar within a year, citing persistent interest rate differentials.

Dubai leads Asian crypto hub rankings, India isolates banks from crypto, SBI Crypto shuts down major mining pool, and Russia advances digital ruble.

Standard Chartered becomes first global systemically important bank to let institutions mint and redeem USDC directly.

Bank for International Settlements cautions that a reversal in the $1 trillion AI investment boom may trigger financial stress affecting crypto traders.
The Bank for International Settlements says stablecoins lack key money properties and warns of risks in emerging markets.

Outdated Basel capital standards treat Bitcoin as near-total loss, potentially limiting bank crypto activities.

Bitcoin fell to its lowest since late 2024 amid hawkish Fed, ETF outflows, and capital shift to AI, per Deutsche Bank.
India has ordered internet providers to block Telegram until June 22 after alleged cheating rackets used the platform ahead of the NEET re-exam.
MUFG, SMBC, and Mizuho join forces on stablecoin issuance, following JPMorgan and SoFi in bank-backed digital currency push.
Gold prices fell to their lowest point of 2026 following a much stronger-than-expected US jobs report, but several banks maintain a positive outlook.