California Governor Gavin Newsom signed legislation barring public officials from issuing memecoins and prohibiting companies from using officials' likenesses in such coins. The rules were motivated by reports of roughly one million investors losing an alleged $3.8 billion on a 2025 presidential memecoin.
Public officials are prohibited from issuing memecoins, which are cryptocurrencies based on online jokes, trends or celebrities.
The bill also prohibits any company from creating a memecoin that uses the likeness or image of a public official.
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The SEC advanced regulations permitting investment advisers and funds to custody crypto assets under defined conditions, establishing a regulatory path following the Clarity Act blockage last month.
The Bank of England has dropped proposed caps on individual and corporate stablecoin holdings, replacing them with a temporary £40 billion issuance ceiling per systemic stablecoin. The policy adjustment, which also relaxes reserve backing rules to bolster issuer economics, follows industry and parliamentary objections ahead of full U.K. crypto regulations in 2027.
Standard Chartered intends to launch digital asset custody services for institutional clients in Singapore. The expansion builds on existing operations in the UAE, Luxembourg and Hong Kong plus the 2025 establishment of a London crypto trading desk.
OKX attracted investment at a $25 billion pre-money valuation from Circle, Ripple, Standard Chartered’s venture arm and Qube Research. The round builds on prior support from Intercontinental Exchange and advances the firm’s tokenized asset and platform expansion plans.
OKXICE has notified the SEC of plans to operate nonstop tokenized trading for more than 60 U.S. equities under the Innovation Exemption, with pairs against stablecoins and access limited to verified wallets on XLayer.
