[News Brief] Apr 22, morning | U.S. and U.K. expand coordination on digital-asset oversight covering stablecoin regulation and tokenization

Spot Bitcoin (BTC) exchange-traded funds (ETFs) listed in the United States recorded net inflows of $244.4 million. On the same day, spot Ethereum (ETH) ETFs also saw $60.8 million in inflows. BlockBeats reported that both Bitcoin and Ethereum spot ETFs trading in the U.S. market closed the day with net inflows on the 5th (local time). Combined, the two product groups attracted $305.2 million in a single day.

Spot Bitcoin (BTC) exchange-traded funds (ETFs) listed in the United States recorded net inflows of $244.4 million. On the same day, spot Ethereum (ETH) ETFs also saw $60.8 million in inflows. BlockBeats reported that both Bitcoin and Ethereum spot ETFs trading in the U.S. market closed the day with net inflows on the 5th (local time). Combined, the two product groups attracted $305.2 million in a single day.

Mastercard has completed its acquisition of stablecoin payments company BVNK. The deal was valued at $1.8 billion. BVNK is a company focused on stablecoin payments and has on-chain settlement and wallet infrastructure. This infrastructure will be integrated into Mastercard’s global payments network. Through this, Mastercard aims to connect fiat currencies, stablecoins, and tokenized deposits within a single payments layer. Bitcoin.com News reported that the acquisition links stablecoins to Mastercard’s global payments network.

Mastercard has completed its acquisition of stablecoin payments company BVNK. The deal was valued at $1.8 billion. BVNK is a company focused on stablecoin payments and has on-chain settlement and wallet infrastructure. This infrastructure will be integrated into Mastercard’s global payments network. Through this, Mastercard aims to connect fiat currencies, stablecoins, and tokenized deposits within a single payments layer. Bitcoin.com News reported that the acquisition links stablecoins to Mastercard’s global payments network.

Circle will launch the public mainnet of Arc, its open blockchain network built for global financial markets, on September 16. Arc is currently operating as a private mainnet, and Circle said that more than 100 institutions and ecosystem participants have already joined. Genesis validators responsible for network security and governance include BlackRock, the Depository Trust & Clearing Corporation (DTCC), Galaxy, Global Payments, Intercontinental Exchange (ICE), Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa. The validator set brings together asset managers, clearing institutions, card companies, remittance firms, and banks on a single network. BlackRock plans to deploy its institutional dollar digital liquidity fund, BUIDL, on Arc.

Circle will launch the public mainnet of Arc, its open blockchain network built for global financial markets, on September 16. Arc is currently operating as a private mainnet, and Circle said that more than 100 institutions and ecosystem participants have already joined. Genesis validators responsible for network security and governance include BlackRock, the Depository Trust & Clearing Corporation (DTCC), Galaxy, Global Payments, Intercontinental Exchange (ICE), Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa. The validator set brings together asset managers, clearing institutions, card companies, remittance firms, and banks on a single network. BlackRock plans to deploy its institutional dollar digital liquidity fund, BUIDL, on Arc.

The United States and the United Kingdom have agreed to expand cooperation on digital-asset oversight covering stablecoin regulation and tokenization. The two countries’ finance ministries released a joint statement on the 4th (local time) disclosing the outcome of a meeting of their financial regulatory working group. The 13th U.S.-U.K. Financial Regulatory Working Group (FRWG) meeting was held in London on July 8. It was co-chaired by the U.S. Treasury and the U.K. Treasury, with participation from seven regulators including the Bank of England, the U.K. Financial Conduct Authority (FCA), the U.S. Federal Reserve, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). The U.S. side explained the implementation status of the GENIUS Act, a stablecoin law, as well as progress on digital-asset market structure regulation. Discussion topics also included regulatory priorities related to tokenization, the U.K.’s digital strategy for wholesale financial markets, and the G20 roadmap for cross-border payments. The statement did not include binding new rules or implementation deadlines. Previously, on the 14th of last month, the two countries issued a joint stablecoin statement through the Transatlantic Taskforce for the Markets of the Future. It said that stablecoins circulating like money should be backed at a minimum 1:1 by high-quality liquid assets and should have standards for segregated custody of reserve assets and timely redemption. The two countries also set out a principle of seeking similar regulatory outcomes for similar risks and activities, while establishing requirements within their own legal systems.

The United States and the United Kingdom have agreed to expand cooperation on digital-asset oversight covering stablecoin regulation and tokenization. The two countries’ finance ministries released a joint statement on the 4th (local time) disclosing the outcome of a meeting of their financial regulatory working group. The 13th U.S.-U.K. Financial Regulatory Working Group (FRWG) meeting was held in London on July 8. It was co-chaired by the U.S. Treasury and the U.K. Treasury, with participation from seven regulators including the Bank of England, the U.K. Financial Conduct Authority (FCA), the U.S. Federal Reserve, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). The U.S. side explained the implementation status of the GENIUS Act, a stablecoin law, as well as progress on digital-asset market structure regulation. Discussion topics also included regulatory priorities related to tokenization, the U.K.’s digital strategy for wholesale financial markets, and the G20 roadmap for cross-border payments. The statement did not include binding new rules or implementation deadlines. Previously, on the 14th of last month, the two countries issued a joint stablecoin statement through the Transatlantic Taskforce for the Markets of the Future. It said that stablecoins circulating like money should be backed at a minimum 1:1 by high-quality liquid assets and should have standards for segregated custody of reserve assets and timely redemption. The two countries also set out a principle of seeking similar regulatory outcomes for similar risks and activities, while establishing requirements within their own legal systems.

According to Odaily, CRS 2.0 is being upgraded as scheduled, and cryptocurrencies, central bank digital currencies, and certain electronic money products will be included in the definition of financial assets. Tax authorities are obtaining data on overseas insurance dividends and cash value through CRS information exchange, and cross-border tax base management is being strengthened alongside taxation of foreign income.

According to Odaily, CRS 2.0 is being upgraded as scheduled, and cryptocurrencies, central bank digital currencies, and certain electronic money products will be included in the definition of financial assets.

Tax authorities are obtaining data on overseas insurance dividends and cash value through CRS information exchange, and cross-border tax base management is being strengthened alongside taxation of foreign income.

Russian President Vladimir Putin has signed a cryptocurrency regulation bill into law, according to Crypto Briefing. The outlet said the law could reshape the landscape of global digital finance. It added that the new law could also affect international regulatory standards and cross-border cryptocurrency transactions. The implementation date has not been confirmed.

Russian President Vladimir Putin has signed a cryptocurrency regulation bill into law, according to Crypto Briefing. The outlet said the law could reshape the landscape of global digital finance. It added that the new law could also affect international regulatory standards and cross-border cryptocurrency transactions. The implementation date has not been confirmed.

According to PANews, citing the Financial Times (FT), scammers are exploiting the implementation of the European Union’s crypto regulation MiCA to try to steal users’ assets. They reportedly impersonate regulators or crypto exchanges and approach users who need to withdraw assets from unlicensed platforms after the July 1 licensing deadline, then lure them into transferring funds to fake accounts.

According to PANews, citing the Financial Times (FT), scammers are exploiting the implementation of the European Union’s crypto regulation MiCA to try to steal users’ assets. They reportedly impersonate regulators or crypto exchanges and approach users who need to withdraw assets from unlicensed platforms after the July 1 licensing deadline, then lure them into transferring funds to fake accounts.

The U.S. Commodity Futures Trading Commission (CFTC) has spoken out against moves by individual states to impose their own exchange regulations. The agency said it intends to uphold the principle that derivatives oversight falls under exclusive federal jurisdiction. In a post on X, CFTC Commissioner Mike Selig said, “If each state can impose additional requirements or sanctions on exchanges, the United States will lose its unified federal market structure.” He also warned, according to WuBlockchain, that this could trigger a “race to the bottom” in regulatory standards. Selig added that if state governments try to weaken or effectively nullify federal law, the CFTC will defend its exclusive jurisdiction over derivatives.

The U.S. Commodity Futures Trading Commission (CFTC) has spoken out against moves by individual states to impose their own exchange regulations. The agency said it intends to uphold the principle that derivatives oversight falls under exclusive federal jurisdiction. In a post on X, CFTC Commissioner Mike Selig said, “If each state can impose additional requirements or sanctions on exchanges, the United States will lose its unified federal market structure.” He also warned, according to WuBlockchain, that this could trigger a “race to the bottom” in regulatory standards. Selig added that if state governments try to weaken or effectively nullify federal law, the CFTC will defend its exclusive jurisdiction over derivatives.

According to Odaily, the Hong Kong Monetary Authority said it maintains an “open but cautious stance” on the possibility and timing of issuing additional stablecoin issuer licenses. Recently, the market has speculated that a second round of licenses could be issued around National Day as the first stablecoin issuers proceed with testing and business preparations. In response, the HKMA said it does not comment on market rumors, while explaining that there is currently no clear direction regarding additional approvals at this stage. The authority added that it is focused on supporting the two currently licensed stablecoin issuers as they prepare their businesses, and plans to observe use cases, operational performance, and market response after lawful stablecoin issuance begins.

According to Odaily, the Hong Kong Monetary Authority said it maintains an “open but cautious stance” on the possibility and timing of issuing additional stablecoin issuer licenses. Recently, the market has speculated that a second round of licenses could be issued around National Day as the first stablecoin issuers proceed with testing and business preparations. In response, the HKMA said it does not comment on market rumors, while explaining that there is currently no clear direction regarding additional approvals at this stage. The authority added that it is focused on supporting the two currently licensed stablecoin issuers as they prepare their businesses, and plans to observe use cases, operational performance, and market response after lawful stablecoin issuance begins.

Odaily, citing Onchain Lens, reported that an Ether ETF under Purpose Investments recently staked 42,000 ETH into the Ethereum beacon deposit contract over a three-hour period. The staking amount was about $80 million, representing 36.6% of the ETF’s total holdings. The ETF’s total holdings were reported at 114,900 ETH.

Odaily, citing Onchain Lens, reported that an Ether ETF under Purpose Investments recently staked 42,000 ETH into the Ethereum beacon deposit contract over a three-hour period. The staking amount was about $80 million, representing 36.6% of the ETF’s total holdings. The ETF’s total holdings were reported at 114,900 ETH.