Crypto News
With South Korea’s CBDC Plans Dead, KakaoBank Joins Stablecoin Gold Rush
KakaoBank is preparing to enter South Korea’s fast-growing stablecoin sector, according to local reports.In its first-half earnings call on Tuesday, KakaoBank CFO Kwon Tae-hoon said the firm is “actively considering” roles in both stablecoin issuance and custody, with participation aligned to the country’s shifting digital asset policies.“We plan to engage actively in line with market changes,” Kwon said, adding that KakaoBank’s internal task force is working with other Kakao units to consolidate strategy.Join the crypto policy conversation Sept. 10 in D.C. — Register now for CoinDesk: Policy & Regulation.The move adds a regulated online bank to the list of Korean fintechs jumping into the stablecoin race after the Bank of Korea (BOK) shelved its central bank digital currency (CBDC) pilot in...
XRP Pushes Through $3 as Ripple-SEC Appeal Decision Looms
XRP rose 3% in the 24 hours through August 7, advancing from $2.91 to as high as $3.02 before closing at $2.98. The move broke through multiple short-term resistance levels and coincided with high-volume buying activity, particularly on Korean exchanges. Technical momentum aligns with key macro developments: the U.S. Securities and Exchange Commission is set to deliberate on Ripple’s appeal withdrawal, while Japan’s SBI Holdings has filed for a Bitcoin-XRP ETF.News BackgroundThe SEC is expected to deliberate Ripple’s decision to withdraw its appeal at 03:00 UTC on August 7, ahead of a broader ruling expected by mid-month. The hearing could lock in XRP’s non-security status under U.S. law—an outcome that removes a longstanding regulatory overhang. Meanwhile, SBI Holdings’ ETF application...
Marex Becomes ‘First’ Clearing Firm to Use JPMorgan’s Kinexys Blockchain For Settlements
JPMorgan’s permissioned platform will help reduce settlement risk, time, and cost by enabling 24/7 programmable paymentsSource link
Bank of America Addresses Debanking Claims, Backing Regulatory Reform
Bank of America’s CEO has backed fixing banking rules amid uproar over U.S. President Donald Trump’s debanking claims, as the crypto industry warns regulatory overreach is quietly choking financial access. Bank of America CEO Backs Rulebook Fix as Trump’s $1B Claim Sparks Uproar Bank of America CEO Brian Moynihan responded to explosive claims made bySource link
Bitcoin Steadies as Short-Term Holder Profit-Taking Slows
Bitcoin’s short-term profit-taking declines, but investors remain cautious as directional bias remains uncertain amid ongoing risks.Source link