OneLiners
Major Japanese Banks to Collaborate on Stablecoin Initiative
MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation have signed a memorandum to establish a council for the joint issuance of a stablecoin. The banks aim to conduct their first commercial transactions by the end of the 2026 fiscal year, concluding in March 2027. The council is tasked with developing the operational model, governance system, and issuance infrastructure. According to Reuters, Japan's Financial Services Agency (FSA) supports the project's experimental phase. The initiative follows a pilot approved by the FSA in November 2025. At that time, the banks, along with Mitsubishi UFJ Trust and Banking and Progmat, began testing the joint issuance of a stablecoin under a trust scheme and its use for cross-border settlements by Mitsubishi Corporation.Tim Draper Claims Bitcoin is Safer Than a Bank Account
Investor Tim Draper stated that quantum computers will breach banks before they affect Bitcoin's blockchain. According to him, BTC is currently safer than dollars in a bank account. He made these comments in response to concerns about the impact of quantum computing on the cryptography of the leading cryptocurrency.Tax Proposals for Digital Assets Spark Debate in Congress
The U.S. House of Representatives' tax committee held hearings on a package of initiatives concerning the taxation of digital assets. Lawmakers discussed six bills, one draft project, and an amendment to two initiatives. The package addresses tax reporting for small transactions, mining and staking, donations in digital assets, voluntary disclosure of violations, and the application of anti-abuse rules to the market. According to The Block, the hearings revealed disagreements over the timeline for advancing the initiatives. Republicans emphasize the need for clear rules, while some Democrats pointed out the risks of abuse, including the deferral of taxation on mining and staking income.Glassnode Detects Signs of Capitulation Among XRP Holders
According to Glassnode, XRP holders are increasingly selling the asset at a loss. The 90-day average realized profit-to-loss ratio has dropped to 0.38, meaning for every $1 of losses, there is only $0.38 of profit, reports CoinDesk. At its peak in 2025, the ratio reached 50. Glassnode estimates that a drop below 1 indicates a dominance of loss-making sales and signs of market participant capitulation. At the time of publication, XRP was trading around $1.11, down nearly 40% since the beginning of the year and significantly below the July high of over $3.60.We use cookies to improve the quality of our service.
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