Daily Report | Wyoming issues the first state-level stablecoin in the U.S. FRNT; South Korean central bank governor states that the Korean won stablecoin should be gradually introduced starting from banks

ChainCatcher Selection

2025-08-19 20:00:00

Collection

August 19 News Overview

整理：Jerry，ChainCatcher

Important News:

Eleanor Terrett: Wyoming Issues the First State-Level Stablecoin in the U.S. - FRNT
Binance Alpha to Launch AriaAI (ARIA) on August 21
U.S. Treasury Secretary: Implementation of the GENIUS Act is Crucial for Ensuring U.S. Leadership in Digital Assets
Ningbo Uncovers "Flash Delivery Moutai" Scam Involving Virtual Currency, Defendant Sentenced to One Year and Six Months
Korean Central Bank Governor: The Won Stablecoin Should Be Gradually Introduced Starting from Banks
Korean Regulators Order Suspension of Cryptocurrency Lending Services Until New Guidelines Are Established
Illinois Passes Two Cryptocurrency Regulatory Bills, Involving Exchanges and Crypto ATMs

"What Important Events Happened in the Last 24 Hours"

Eleanor Terrett: Wyoming Issues the First State-Level Stablecoin in the U.S. - FRNT
Crypto journalist Eleanor Terrett posted on social media that Wyoming has officially launched the Frontier Stable Token (FRNT), becoming the first state in the U.S. to issue its own stablecoin.

FRNT is backed by U.S. dollars and short-term government bonds, and is currently live on seven blockchains: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.

However, due to ongoing regulatory hurdles, the token is not yet open to the public.

Binance Alpha to Launch AriaAI (ARIA) on August 21

According to official news, Binance Alpha will launch AriaAI (ARIA) on August 21.

Eligible users can claim airdrops using Alpha points on the Alpha event page after trading opens. More details will be announced soon.

U.S. Treasury Secretary: Implementation of the GENIUS Act is Crucial for Ensuring U.S. Leadership in Digital Assets

The U.S. Treasury today released a request for comments in accordance with the GENIUS Act.

In response, U.S. Treasury Secretary Janet Yellen stated that implementing the GENIUS Act is crucial for ensuring U.S. leadership in the digital asset space. Stablecoins will expand the channels for billions of people globally to use U.S. dollars and lead to a surge in demand for U.S. government bonds that support stablecoins. "This is a win-win situation for all participants: stablecoin users, stablecoin issuers, and the U.S. Treasury."

Ningbo Uncovers "Flash Delivery Moutai" Scam Involving Virtual Currency, Defendant Sentenced to One Year and Six Months

According to Guangming Daily, Ningbo has uncovered a remote ordering scam involving virtual currency called "Flash Delivery Moutai," where the defendant targeted liquor stores, using fake receipts to deceive real Moutai and transferring the proceeds through virtual currency. The Ningbo Yinzhou District Prosecutor's Office prosecuted the defendant, Zhou, who was sentenced to one year and six months in prison for concealing and hiding criminal proceeds, and a fine was imposed. The police are further investigating the upstream scammers.

Korean Central Bank Governor: The Won Stablecoin Should Be Gradually Introduced Starting from Banks

Korean Bank (Central Bank) Governor Lee Chang-yong stated on the 19th: "In the future, to incorporate programming functions into currency, a won stablecoin is necessary, but it would be wiser to start from banks and then gradually expand." On that day, while attending the National Assembly's Planning and Finance Committee, he addressed lawmakers' questions regarding the timing and issuing entities of stablecoin, pointing out the potential risks associated with stablecoins and demonstrating a cautious attitude.

Regarding the conditions for issuing entities, he emphasized: "To prevent money laundering issues, only large enterprises with systems such as KYC (Know Your Customer) and of a certain scale should be allowed to issue. However, if large non-bank enterprises are permitted to issue, the existing bank-centered financial industry structure may undergo unknown changes, so caution is required." He explained that this is equivalent to allowing payment settlement banks with narrow banking functions, which could lead to a decline in bank deposits and profitability.

Korean Regulators Order Suspension of Cryptocurrency Lending Services Until New Guidelines Are Established

According to The Block, the Korean Financial Services Commission (FSC) has ordered local digital asset exchanges to suspend cryptocurrency lending services until appropriate regulatory guidelines are established. The FSC stated that cryptocurrency lending services are currently in a legal gray area, which may lead to user losses.

Previously, exchanges such as Upbit and Bithumb had also launched services allowing users to borrow against Korean won or digital assets as collateral. The FSC will allow repayments and extensions for existing lending contracts while conducting on-site inspections of exchanges that do not comply with administrative guidance. The FSC stated that it will quickly formulate relevant guidelines to protect users and provide a clear regulatory framework.

Illinois Passes Two Cryptocurrency Regulatory Bills, Involving Exchanges and Crypto ATMs

According to Cointelegraph, Illinois Governor JB Pritzker has signed the Digital Assets and Consumer Protection Act (SB 1797) and the Digital Asset Self-Service Terminal Act (SB 2319).

The former authorizes state financial and professional regulatory agencies to oversee digital asset exchanges and related businesses, requiring them to maintain sufficient financial resources and implement cybersecurity measures; the latter regulates cryptocurrency ATMs, requiring operators to register, provide full refunds to scam victims, limit transaction fees to no more than 18%, and restrict new users' daily transaction limits to $2,500.

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

Ethereum Giants Spend Billions to Enter Wall Street: A Game of New Financial Order

Can the giants' "lock-up competition" support the next financial era?

These 6 Individuals Are Becoming Solana's Tom Lee

Famous reality show judges, renowned hedge fund founders, major players in the U.S. crypto space, the most profitable fund founders in the crypto world, die-hard bulls of Solana…

Is a Trillion-Dollar U.S. Pension Fund Pouring into Cryptocurrency? What Risks Does This Gamble Hold?

Although the White House claims this move aims to "expand ordinary investors' access to diversified assets," a core issue arises: does this open a new chapter for wealth appreciation in Americans' retirement futures, or is it a reckless nationwide gamble?

The Unluckiest Gemini Twins from "The Social Network" Have Launched a Cryptocurrency

Gemini aims to become the third cryptocurrency trading platform to go public in the U.S.

When Your Browser Becomes a Proxy

Just like human users. This model promises to unleash tremendous productivity and economic value, as it can automate tasks that currently still require manual operation or are too complex for traditional scripts to accomplish.

Strategy's "Moon Landing" Plan

Strategy's premium valuation reflects the market's confidence in Michael Saylor's vision and execution capabilities for Bitcoin. Investors are betting on Bitcoin's long-term trajectory and the management's ability to maximize accumulation through corporate structure.

Ethereum Unstaking Hits New Highs, What Are the Risks of Selling Pressure?

Over 87,000 ETH (worth approximately $3.76 billion) are queued to exit the Ethereum network, setting a historical high and increasing for six consecutive days, with an expected wait time of 15 days and 4 hours.