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2 May 2026, 14:52

Anchorage Digital Pushes GENIUS Act Plan as Western Union Stablecoin Nears Launch

Anchorage Digital Bank has submitted a comment letter to the Office of the Comptroller of the Currency as U.S. regulators move forward with rules for stablecoin issuance under the GENIUS Act. The letter comes as Anchorage prepares to support Western Union’s planned U.S. Dollar Payment Token, or USDPT, under a federally regulated issuance model. The OCC proposed rules for payment stablecoin issuers earlier this year, covering institutions under its supervision. The agency said the proposal addresses regulations required under the GENIUS Act, except separate rules tied to Bank Secrecy Act and sanctions compliance. Anchorage is positioning itself as a regulated stablecoin issuer for major financial and crypto brands. The company’s GENIUS Act letter points to its bank charter and its role in issuing stablecoins for partners as the market waits for final U.S. implementation rules. Western Union Plans USDPT on Solana Western Union announced in October 2025 that it planned to launch USDPT on Solana, with Anchorage Digital Bank serving as issuer. The company said USDPT would support customers, agents, partners, and treasury operations, while its Digital Asset Network would connect digital assets with fiat access. The ticker matters. Some recent references showed UDSPT, but Western Union’s official announcement names the token USDPT, short for U.S. Dollar Payment Token. That is the safer version to use unless Anchorage’s latest letter clearly states otherwise. Western Union expected USDPT to become available in the first half of 2026. More recent reporting said CEO Devin McGranahan told investors the company planned a May launch, with the first phase focused on settlement between Western Union and agents in selected corridors, rather than a broad retail rollout. GENIUS Act Rules Shape Stablecoin Issuers The GENIUS Act gives federal regulators a framework for payment stablecoins in the U.S. For Anchorage, the rulemaking process could define how federally supervised stablecoin issuers manage reserves, redemption, custody, risk controls, and reporting. The OCC’s proposal also matters because stablecoin issuance now sits closer to the banking system. The agency supervises national banks and federal savings associations, and its rules will shape how bank-regulated issuers operate in the stablecoin market. Anchorage’s letter shows how regulated crypto firms are trying to secure their place before the final rules take effect. Meanwhile, Western Union’s USDPT plan shows how traditional payments companies are testing stablecoins for cross-border settlement and digital asset access.

2 May 2026, 13:58

FOMC Holds Rates Steady: BTC 78K, Meta USDC Push

FOMC kept rates at 3.50-3.75%, Powell issued shock warnings. BTC recovered to 78K, Meta started USDC payments with Solana/Polygon. AI earnings hit record: AWS 37.59B$. Technical: RSI 61, R1 79K str...

2 May 2026, 13:57

Trump and Xi set to meet with unaligned priorities over handling of Iran war

China’s UN diplomat, Fu Cong, has said upcoming Trump-Xi talks will heavily focus on the Strait of Hormuz. He said it was “urgent” to get the strait open and running. Fu Cong addressed the media after China took over the presidency of the UN Security Council for the month of May. He said the Middle East is the hot spot of issues and a top priority for the council. On the Iran war , he said: “The most urgent issue is to keep the ceasefire. And the ceasefire needs to last, and there has to be a good-faith negotiation between the two sides”. He said he was sure Hormuz would still be blocked when Trump visits China. Therefore, it “will be high on the agenda of the bilateral talks”. Trump will visit China on May 14-15 if the passage stays shut. The plan was confirmed by the White House. It will be POTUS’s first visit to the People’s Republic of China in eight years. The talks would have transpired earlier, but got delayed due to the Iran war mess. It’s unlikely the meeting would solve all the problems between Washington and Beijing. What matters more is whether it can help both sides handle their competition without things spiraling out of control. Energy shocks hit global economy The Hormuz shutdown has hit the global economy hard. About 20% percent of the world’s oil and gas normally moves through that narrow waterway. When the crisis peaked, it blocked around 13 million barrels of crude oil per day. Markets had to tap into reserves, and prices shot up fast. The World Bank now thinks energy prices will jump 24% in 2026. Fertilizer costs are expected to climb 31%. That’s making inflation worse and slowing down growth in poorer countries. For this reason, buyers are going toward alternatives benefitting China. Chinese energy products sales made $26 billion in March 2026. It is more than half of how it performed last year. Trade fights between the U.S. and China have gotten worse over the past year. Tariffs on some goods reached 145%. Trade between the two countries dropped about 30%, and $130 billion worth of Chinese exports to America vanished. China dealt with the hit by sending goods elsewhere. The country redirected about $55 billion in exports to Europe and other markets in Asia, the Middle East, and Africa. The competition has spread to technology A survey by the Center for Strategic and International Studies in March 2026 found that 56% of chip and tech companies now wait more than 180 days for export licenses. A third of them wait over 300 days. More than half said they lost business because of the delays. About 62% saw relationships with customers suffer, and 58% lost clients to foreign competitors. A survey by the CSIS China Power Project in 2026, led by Bonny Lin, found 57% of U.S. experts don’t think the relationship is getting more stable. Only 26% see improvement. Just 3% believe both countries will fully stick to their agreements. Economist predicts pressure will force deal Daniel Lacalle, a Spanish economist who manages almost €1 billion at Tressis Gestion, thinks the pressure on all sides will force a deal. Speaking on the MacroVoices podcast Thursday, he called it a “three-way standoff” between the U.S., Iran, and China. Lacalle says Trump believes America can handle high gas prices because it exports oil. Iran’s Revolutionary Guard doesn’t care about hurting regular Iranians. China thinks its stockpiles of raw materials will protect it. But the costs will eventually push everyone toward “an agreement that wraps the trade war and the Iran war” together. When that happens and the strait opens, Lacalle predicts the dollar index will fall to 96. He also thinks oil prices have already hit their peak and will drop gradually, though they won’t return to pre-war levels. Gold has fallen about 20% from its high earlier this year. Lacalle says that’s because traders unwound bets against the dollar when it started recovering as fighting began in the Gulf. If you want a calmer entry point into DeFi crypto without the usual hype, start with this free video.

2 May 2026, 13:50

US warns shipping firms of sanctions for paying Iran's Strait of Hormuz tolls

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued an alert to shipping companies, both US- and non-US-owned, that they risk facing sanctions from Washington should they pay Iran for safe passage through the Strait of Hormuz. This was made known on Friday, May 1, and is the latest in Washington’s escalating economic pressure campaign against Tehran amid an ongoing standoff over control of the critical waterway. OFAC promises sanctions on all payments to Iran On April 28, OFAC published an answer under its FAQ section to the question, “Are ‘toll’ payments to Iran for safe passage through the Strait of Hormuz authorized?” The alert states that payments, whether directly or indirectly to the Iranian government or to the Islamic Revolutionary Guard Corps (IRGC), “would not be authorized for U.S. persons, including U.S. financial institutions, or for U.S.-owned or -controlled foreign entities.” The warning extends well beyond American companies. Non-US persons also face “significant sanctions exposure” for engaging in transactions involving designated or blocked persons, including the Iranian government and the IRGC, which is designated as a Foreign Terrorist Organization under multiple US authorities. In its latest alert, OFAC stated that it is aware of Iran’s threats and demands for tolls for guarantees of safe passage in the strait. OFAC stated that Iran might demand payments in various forms, including fiat, digital assets, informal swaps, or offsets. It also pointed out that some of these payments may be “nominally charitable donations made to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts.” However, it reiterated its position that those who make these payments, regardless of the method or seek guarantees from the Iranian government, stand the risk of sanctions from the US. In a related FAQ published May 1, OFAC confirmed that Iranian digital asset exchanges qualify as Iranian financial institutions under existing sanctions regulations. That means their property and interests held by US persons or within US jurisdiction are blocked under Executive Order 13599. Strait of Hormuz and nuclear program are top priorities The Strait of Hormuz is a narrow waterway between Iran and Oman, and it also happens to be the world’s most important oil chokepoint, with around 20% of global petroleum passing through it. Over the years, Tehran had threatened to restrict traffic through the strait as leverage in its disputes with Western governments, usually linked to its nuclear program. Iran then closed the strait after the US and Israel conducted military operations against it. So far, the negotiations between the involved parties seem to have stalled. The OFAC pointed to Executive Order 13902, which authorizes sanctions against persons who “knowingly engaged in certain significant transactions involving determined sectors of the Iranian economy,” including the financial and petroleum sectors. So, foreign financial institutions that facilitate such transactions risk losing access to US correspondent banking accounts, a penalty that effectively cuts them off from dollar-denominated trade. Shipping companies now face tough choices Shipping companies and their financial intermediaries now either have to refuse Iranian toll demands and risk operational disruption in one of the world’s busiest shipping lanes or pay and risk US sanctions enforcement. As Cryptopolitan reported , citing the UK Navy, “Hormuz traffic has collapsed by 90% since conflict began, with fewer than 10 ships a day now transiting the strait.” The British outfit also estimated 20,000 sailors stranded on vessels in the Gulf. The guidance does not offer a general license or safe harbor for toll payments, leaving little room for compliance workarounds. The standoff adds a financial dimension to what has been primarily a military and diplomatic confrontation. Companies that operate tankers, insurers that underwrite Gulf transits, and banks that process maritime payments will need to update their sanctions screening to account for the new guidance. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

2 May 2026, 12:54

Ripple connects 13,000 banks with $12.5 trillion in payments

🚀 Ripple forged connections with 13,000 banks handling $12.5 trillion in payments via its growing network. Ripple Treasury now enables real-time management of both crypto and traditional assets in a single platform. 🏦 Critical data: $XRP is expanding beyond payments into the core of enterprise finance worldwide. Continue Reading: Ripple connects 13,000 banks with $12.5 trillion in payments The post Ripple connects 13,000 banks with $12.5 trillion in payments appeared first on COINTURK NEWS .

2 May 2026, 12:31

Trump knocks back Iran's offer to reopen the Strait of Hormuz and delay nuclear talks

Iran said Trump has rejected a proposal that would reopen the Strait of Hormuz, end the US blockade on ships linked to Iranian ports, and delay nuclear talks until a later round. A senior Iranian official allegedly said Saturday that Tehran saw the offer as a way to stop the war first, then handle the nuclear file after shipping lanes and attack guarantees were settled. The war remains stuck four weeks after the United States and Israel paused their bombing campaign against Iran. No deal has ended the conflict. Energy flows have taken a historic hit. Iran moves nuclear talks to the final stage as Trump rejects the latest war proposal Trump said Friday he was “not satisfied” with Tehran’s offer. He did not list every objection, but told reporters at the White House, “They’re asking for things that I can’t agree to.” Before leaving for Florida, Trump also reportedly told CNN he was unhappy with the proposal aimed at ending the war. At a West Palm Beach event Friday evening, Trump questioned whether the US would be “better off” without a deal with Iran . He also called a law limiting the use of force without congressional approval “totally unconstitutional.” Still, in a letter to congressional leaders, he said war “hostilities” with Iran had “terminated.” Washington says the war cannot end unless Iran is blocked from ever getting a nuclear weapon. Trump cited that goal when he launched strikes in February while nuclear talks were underway. Iran says its nuclear program is peaceful. The Iranian official, speaking anonymously because the diplomacy is confidential, said Tehran had made a major shift by putting nuclear talks later. Under the proposal, the war would end with a guarantee that the United States and Israel would not attack again. Iran would open Hormuz, and Washington would lift its blockade. Future talks would cover curbs on Iran’s nuclear program in return for sanctions relief. Tehran would demand that Washington recognize its right to enrich uranium for peaceful purposes, even if it agrees to suspend that work. “Under this framework, negotiations over the more complicated nuclear issue have been moved to the final stage to create a more conducive atmosphere,” the official said. Hormuz traffic collapses as oil executives warn that the supply shock is not over The Gulf energy freeze is getting worse as stored oil and gas are drawn down. Industry executives and analysts say the damage will deepen in coming weeks. Kpler said supply fell from about 20 million barrels per day before the conflict and the Hormuz closure to close to 1 million barrels per day in April. Kpler said, “While a gradual recovery may begin from June, the rebalancing is incomplete, leaving the global oil market tighter and increasingly reliant on inventories and demand adjustment.” So the market is leaning on stockpiles and weaker demand, which is not exactly a calm setup for oil, inflation, or crypto risk appetite. Analysts say that the buffer is now thin. The US Energy Information Administration said gasoline stocks fell to 222 million barrels on April 24, the lowest level for this time of year in more than a decade. In recent days, Kpler and other shipping data sources counted only a handful of Hormuz crossings. The UK Navy said Friday that “Hormuz traffic has collapsed by 90% since conflict began, with fewer than 10 ships a day now transiting the strait.” It also said about 20,000 sailors are stranded on vessels in the Gulf. Meanwhile, Israel issued an urgent evacuation warning for parts of southern Lebanon during a fragile ceasefire. Lebanon’s health ministry said Israeli strikes killed at least nine people on Friday. NATO said it is working with Washington to “understand” the announced withdrawal of about 5,000 US troops from Germany, and Berlin’s defense minister said the move was “anticipated.” A Washington Post/ABC News/Ipsos poll released Saturday found six in ten Americans think the US use of force against Iran was a mistake. There’s a middle ground between leaving money in the bank and rolling the dice in crypto. Start with this free video on decentralized finance .