Bernstein’s latest report warns that political and industry tensions over stablecoin yields are compressing the timeframe for passing the U.S. Crypto Market Structure Act, which must advance by Q2 2026 to avoid prolonged delays. The dispute between banks and crypto firms over interest-like returns on stablecoins threatens to slow legislation impacting a stablecoin market already valued at about $275 billion, with future trillion-dollar potential at stake.

Standard Chartered is planning to establish a crypto prime brokerage within its wholly owned venture arm SC Ventures, according to people familiar with the matter. The initiative is still at an early discussion stage with no confirmed launch date, and would build on the bank's existing digital asset projects and institutional spot crypto trading services. The bank is also working with Bank Malaysia and AirAsia parent Capital A to explore a ringgit-pegged stablecoin under Malaysia's Digital Asset Innovation Hub framework.

On January 12, 2026, Federal Reserve Chair Jerome Powell was subpoenaed as the Department of Justice launched an investigation into alleged political pressure tied to rate-setting and his prior testimony on renovations. U.S. equities fell the same day, with the Dow down 290 points (0.6%), the S&P 500 off 0.4%, and the Nasdaq lower by 0.3%.

BitGo Holdings filed a Form S-1 with the US Securities and Exchange Commission, launching a US IPO of its Class A common stock. The crypto custody firm plans to offer about 11.8 million shares at $15 to $17 each, seeking to raise up to $201 million and valuing the company at as much as $1.96 billion, with over $90 billion in assets under custody.

On 12 January 2026, crypto traders are watching three key macro and policy catalysts: U.S. CPI, PPI and the Senate's review of the Digital Asset Market Clarity Act. CPI and PPI readings could shift expectations for 2026 rate cuts and near-term volatility across Bitcoin and altcoins. The Clarity Act's progress may shape longer-term sentiment by signaling whether U.S. regulation is moving toward clearer oversight of digital assets.

Standard Chartered is in early talks to build a crypto prime brokerage under SC Ventures, signaling a further push into digital assets by major banks. The bank also lowered its Ether outlook to $7,500 for end-2026 and $22,000 for end-2028, while lifting its 2030 target above $40,000.

Gold surged to a record $4,600 on January 12, 2026, as investors sought safety amid doubts about the Federal Reserve's independence. According to the article, Chair Jerome Powell said the DOJ sent grand jury subpoenas to the Fed tied to a $2.5 billion headquarters project. The dollar slipped about 0.3%, stock futures fell, and silver jumped more than 5%.

On January 12, 2026, the Dubai Financial Services Authority enforced an updated Crypto Token Regulatory Framework that bans privacy-focused cryptocurrencies within the Dubai International Financial Centre. The rules also refine which assets qualify as fiat-referenced crypto tokens, excluding algorithmic models such as Ethena's USDe from stablecoin treatment and shifting token approval responsibility from the regulator to licensed firms.