US Treasury Secretary: I do not advocate that the Fed reduce its balance sheet or abandon its ample reserve system
US Treasury Secretary Besant said that he does not advocate for the Federal Reserve to reduce its balance sheet or abandon the abundant reserve system.
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Sony's technology-powered crypto bank sets out to transform the stablecoin market in the United States
- Sony Bank's subsidiary Connectia Trust seeks U.S. national banking charter to issue dollar-pegged stablecoins and custody digital assets. - The move aligns with the GENIUS Act's federal framework requiring 1:1 reserves and monthly audits for stablecoin compliance. - Sony leverages blockchain expertise and aims to disrupt Tether/USDC dominance through tech-financial hybrid operations. - Regulatory scrutiny and competition from established players like Stripe and Ripple pose key challenges to approval.

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