Japan Clears SBI Yen Stablecoin, Senate Passes 2030 CBDC Ban, ICE-OKX Form JV

Crypto News

Japan’s Financial Services Agency has approved JPYSC, a yen-pegged stablecoin set for issuance within days, with SBI Shinsei Trust Bank serving as the issuer and group exchange SBI VC Trade handling distribution. Co-developed with Singapore’s Startale, JPYSC is the country’s first trust-type stablecoin, a structure in which a trust company manages the backing assets. Unlike JPYC, the funds-transfer-issued token launched in October 2025 and capped at one million yen per issuance, the trust model carries no issuance ceiling, opening the door to large institutional settlement. SBI also plans a lending service that lets holders earn yield, and eventually envisions QR-code retail payments at restaurants and shops.

In Washington, the US Senate passed the 21st Century ROAD to Housing Act by an 85-5 margin, a sweeping housing-supply measure that also carries a provision closely watched by crypto markets. Title XI of the bill prohibits the Federal Reserve Board and reserve banks from issuing a central bank digital currency, or any substantially similar asset, including indirectly through intermediaries. The ban runs through December 31, 2030. An exception preserves open, permissionless dollar tokens whose privacy protections match physical cash. The legislation now moves to the House before reaching President Trump’s desk, where bipartisan support is expected to carry it through under an expedited procedure.

Intercontinental Exchange, the parent of the New York Stock Exchange, and crypto exchange OKX announced a 50-50 joint venture aimed at building next-generation infrastructure for tokenized and digitally native financial products. Pending regulatory approval, the venture will operate as a US-registered broker-dealer and futures commission merchant, giving OKX customers access to ICE’s futures markets and the NYSE’s tokenized equity market. ICE also disclosed a strategic investment in OKX. The venture, co-led by former New York Governor Andrew Cuomo, builds on a March partnership between the two firms and signals deepening convergence between regulated traditional venues and digital-asset rails.

The institutional push toward tokenization gained a regulatory blueprint as the Global Layer One initiative published a white paper on programmable compliance. Contributors include the International Monetary Fund, the Bank of France, the Monetary Authority of Singapore, JPMorgan’s digital-asset unit Kinexys, and Standard Chartered. The design separates compliance rules from the asset and its execution logic, so regulatory changes can be met by updating policy rather than reissuing tokens. Requirements are sorted into four STAR domains — Status, Transaction, Asset, and Reporting. The paper notes that under FATF’s 2024 review, only one assessed jurisdiction was fully compliant with Recommendation 15, underscoring the fragmentation the framework aims to resolve.

DeFi lending protocol Venus began a pilot allowing tokenized equities as on-chain collateral on the BNB Chain. Introduced June 20, the assets are bStocks — TSLAB, NVDAB, and SPCXB — tracking exposure to Tesla, Nvidia, and SpaceX, described as 1:1 backed tokenized securities available to eligible users in permitted jurisdictions. Borrowing remains paused with an initial cap of zero as the protocol first tests the collateral framework, liquidation behavior, and stablecoin demand. Collateral factors are set at 60% for TSLAB and NVDAB and 50% for SPCXB. Like established lending venues such as Aave, Venus must reconcile around-the-clock crypto markets with equity price feeds.

President Trump signed two executive orders to accelerate quantum computing, targeting a research-grade machine by 2028 and migrating major government systems to post-quantum cryptography by 2030-31. A new QC-ADDS program will place at least one quantum computer at a Department of Energy facility. Ahead of the signing, the Commerce Department committed roughly $2.01 billion in grants to nine firms, with IBM the largest recipient at $1 billion. For crypto, the orders sharpen attention on “Q-Day,” when quantum machines could break the cryptography securing Bitcoin and Ethereum; one estimate places that risk between 2030 and 2033, with roughly 6.9 million BTC sitting in key-exposed addresses.

Taken together, these developments trace a single arc: regulated institutions are racing to lay the rails for tokenized money and assets, even as governments draw firm lines around state-issued digital currency and longer-horizon quantum risk. COINOTAG’s aggregate market data, however, shows sentiment lagging the structural story — our Fear & Greed Index sits at 23, deep in Extreme Fear, while Bitcoin dominance has climbed to 70.3%, a sign capital is sheltering in majors over altcoins. With total crypto market capitalization near $1.78 trillion, the infrastructure being built by SBI, ICE, and the GL1 consortium is positioning for an institutional cycle that current price action — far from any all-time high — has yet to reward.