A new stablecoin has entered the market in the form of OpenUSD, positioning itself as a competitor to Circle’s USDC.

Unlike single-issuer stablecoins, OpenUSD is governed by a board of 140 partners, including Visa, Mastercard and BlackRock. The token is designed primarily for global money movement, with no costs attached to minting or redemption.

Binance is facing a £150 million lawsuit in the UK over allegations it offered unregulated trading assets.

Claimants allege the exchange offered products that functioned like financial instruments, with some plaintiffs said to have lost millions of pounds as a result. Binance has not operated in the UK since October 2023.

President Trump earned more than $1 billion from crypto-related income last year, according to his annual financial disclosure.

The figures show $635 million came from his memecoin, with a further $500 million-plus from tokens tied to World Liberty Financial. The disclosure also revealed holdings of $15,000 in USDC, and more than $50 million each in ETH and Bitcoin.

The UK will reduce capital requirements for stablecoin issuers from 2% to 1%, the Financial Conduct Authority has confirmed.

The regulator said the move is intended to accommodate larger issuers ahead of the regulated market’s launch in October 2027. It follows separate rules from the Bank of England increasing the amount of stablecoin holdings permitted for both businesses and individuals.

Europe’s crypto regulatory regime under the Markets in Crypto-Assets (MiCA) framework officially came into force this week.

Companies had until June 30th to secure a full MiCA licence to legally operate across Europe. Coinbase, Crypto.com and Kraken are among those already licensed, while Binance and Tether will no longer be able to offer certain services to customers in the region.