Stablecoin

The White House convened crypto industry groups, exchanges, and Wall Street banks at the Eisenhower Executive Office Building on Monday to negotiate the U.S. crypto market structure bill, focusing on whether exchanges can offer yield on stablecoins. Participants were instructed to reach a compromise on stablecoin rewards by the end of this month, with trade groups describing the meeting as a constructive step toward bipartisan legislation. Senior administration officials said recent talks have resolved several difficult policy disputes and expressed confidence that the remaining issues on stablecoin yields can also be settled.

On Monday, Tether said it will expand support for USDt (USDT) and Tether Gold XAUT in Opera's MiniPay wallet, which runs on the Celo blockchain. The move targets users in regions such as Africa, Latin America and Southeast Asia, where MiniPay reports 12.6 million activated wallets and more than 350 million processed transactions.

Updated on February 3, 2026, the White House brought together crypto firms and Wall Street banks to negotiate whether stablecoins should carry yields, with an objective to reach a deal before the beginning of March, according to people familiar with the private talks. Banking groups said they are prepared to collaborate, while industry advocate Cody Carbone described the meeting as meaningful progress despite no immediate agreement.

New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg sent a letter to Congressional leaders criticizing the GENIUS Act. According to CNN, they contend the law lets issuers keep interest on assets backing flagged coins rather than prioritizing restitution; Chainalysis reports illicit crypto flows hit $154 billion in 2025 with stablecoins at 84%.

On February 2, Bitcoin fell to $74,532 after losing the $80,000 handle, then traded near $79,000 on February 3 following a 2.05% rebound. Markets dropped about $250 billion around Kevin Warsh’s Fed nomination, while a White House summit on stablecoin yields could tighten liquidity. Strategy added 855 BTC for $75.3 million, taking holdings to 713,502 BTC.

On February 2, 2026, Bed Bath & Beyond said it acquired Tokens.com to build a unified gateway for tokenized real estate and other real world assets. The platform is planned to let users tokenize public and private securities, access cryptocurrencies including stablecoins, and manage portfolios in one place. Tokens.com is targeted to launch by July 1, 2026, pending closing conditions.

Ripple's U.S. dollar-pegged RLUSD is closing in on a $1.5 billion market cap after fresh liquidity, with total value around $1.39 billion. The RLUSD Treasury minted 28,200,000 tokens, and a January spot listing on Binance introduced pairs like RLUSD/USDT and XRP/RLUSD, pushing 24-hour volumes above $363 million.

On Monday, New York Attorney General Letitia James and four district attorneys sent a letter challenging the GENIUS Act, alleging it gives stablecoin issuers legal cover and leaves fraud victims without restitution. The prosecutors say Tether and Circle each earned $1 billion in 2024 from reserve investments, and cite extensive freezes of USDT and USDC.

Venezuelan crypto app Kontigo, founded in 2023 by Jesus Castillo, is facing scrutiny over alleged use of stablecoins to move oil revenues under U.S. sanctions. The company raised more than $20 million in December and operated in Venezuela under a Sunacrip license tied to Oha Technology. After reports linked Kontigo to sanctioned oil flows and alleged political connections, major partners including JPMorgan and Stripe cut services, and on January 12 Castillo released a video denying political ties while addressing a recent hack that affected 1,005 users.

On 2 February 2026, the Hong Kong Monetary Authority said its regulatory reviews for stablecoin issuers are close to completion, with the first licenses expected to be granted in March. Only a very limited number of applicants will be approved at the outset, reflecting a cautious rollout focused on reserve backing, capital standards and financial stability.