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Morning edition · October 13, 2026

US Enacts GENIUS Act Stablecoin Framework

Federal legislation establishes US banking oversight for payment stablecoins while expressly exempting non-custodial decentralized protocols.

  1. 1

    US Enacts GENIUS Act Regulating Payment Stablecoins

    Public Law 119-27 establishes federal oversight for stablecoin issuers under US banking regulators while exempting non-custodial developers and liquidity pools from securities classifications [5].

  2. 2

    US and UK Sanction Networks Behind $16 Billion Scam Empire

    Authorities severed Huione Group from western finance and sanctioned Prince Group for allegedly laundering $4 billion and orchestrating cyber fraud operations in Cambodia [3].

  3. 3

    Bitmine Accumulates 4.9% of Circulating Ethereum Supply

    The corporate treasury now holds 6.03 million $ETH, with 5.06 million tokens deployed in validators generating $336 million in annualized yield [2].

  4. 4

    SWI Group Acquires $500M Genesis Stake for AI Pivot

    The Euronext-listed firm bought a 38.3% stake in Genesis Digital Assets to convert 1.3 gigawatts of crypto mining capacity into high-performance computing centers [6].

  5. 5

    Uniswap Proposes Activating Protocol Fees on Arc Layer 1

    A governance vote considers enabling $UNI fees across Arc liquidity pools, routing the generated revenue through Wormhole to burn tokens on mainnet [1].

Numbers

Bitcoin holds at $83,208 and Ethereum slides 2.3% to $2,496, while total crypto market capitalization sits at $2.76 trillion.

Watch

Subsequent regulatory rulemaking from the OCC, Federal Reserve Board, and FDIC implementing the GENIUS Act approval mechanisms. · The UK High Court decision on whether English or Chinese conflict-of-laws principles govern restitution claims over seized Bitcoin.

Full text

Federal legislation establishes US banking oversight for payment stablecoins while expressly exempting non-custodial decentralized protocols.

  1. US Enacts GENIUS Act Regulating Payment Stablecoins Public Law 119-27 establishes federal oversight for stablecoin issuers under US banking regulators while exempting non-custodial developers and liquidity pools from securities classifications.

  2. US and UK Sanction Networks Behind $16 Billion Scam Empire Authorities severed Huione Group from western finance and sanctioned Prince Group for allegedly laundering $4 billion and orchestrating cyber fraud operations in Cambodia.

  3. Bitmine Accumulates 4.9% of Circulating Ethereum Supply The corporate treasury now holds 6.03 million ETH, with 5.06 million tokens deployed in validators generating $336 million in annualized yield.

  4. SWI Group Acquires $500M Genesis Stake for AI Pivot The Euronext-listed firm bought a 38.3% stake in Genesis Digital Assets to convert 1.3 gigawatts of crypto mining capacity into high-performance computing centers.

  5. Uniswap Proposes Activating Protocol Fees on Arc Layer 1 A governance vote considers enabling UNI fees across Arc liquidity pools, routing the generated revenue through Wormhole to burn tokens on mainnet.

Numbers Bitcoin holds at $83,208 and Ethereum slides 2.3% to $2,496, while total crypto market capitalization sits at $2.76 trillion.

Watch

  • Subsequent regulatory rulemaking from the OCC, Federal Reserve Board, and FDIC implementing the GENIUS Act approval mechanisms.
  • The UK High Court decision on whether English or Chinese conflict-of-laws principles govern restitution claims over seized Bitcoin.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.