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The Office of the Comptroller of the Currency has finalized the first federal banking rule implementing the GENIUS Act, setting a framework for stablecoin issuers and related third-party relationships. Existing stablecoin rewards programs will not receive automatic protection, leaving exchanges and issuers to seek clarity through case-by-case regulatory review.

New York Attorney General Letitia James has secured a settlement of up to $35 million from former Celsius CEO Alex Mashinsky, alongside a permanent ban from the securities, commodities and cryptocurrency industries. The action follows claims that Mashinsky misled investors about the safety of Celsius deposits before the lender froze withdrawals and entered bankruptcy in 2022.

Spark has shelved its consumer app indefinitely and is positioning itself as a backend liquidity layer for fintechs, exchanges and stablecoin issuers. The pivot comes as stablecoin markets splinter across competing tokens and networks, creating demand for infrastructure that can connect fragmented liquidity.

Swift’s blockchain settlement expansion and Stripe’s proposed PayPal bid highlight a new phase in the fight over global payment infrastructure. The focus is shifting from proving stablecoin technology to controlling wallets, merchant acceptance and settlement rails.

A potential Stripe acquisition of PayPal is stirring debate across fintech and crypto over who controls the rails behind consumer payments. Market participants say the biggest prize may be PayPal’s wallet reach, merchant network and stablecoin distribution rather than any single token.

Stripe has offered to acquire PayPal in a $53 billion proposal backed by Advent International, setting up a potential blockbuster payments deal. The approach comes as both companies push deeper into stablecoins and blockchain-linked payment infrastructure.

Bitcoin’s latest advance has lost momentum as investors reassess the meaning of softer U.S. inflation data for Federal Reserve policy. With producer price data due later today and oil prices pressuring the inflation outlook, crypto traders are watching macro signals closely.