Stablecoins under regulatory pressure as institutional capital increases positions in BTC and ETH

Source: CritpoTendencia Original Title: Stablecoins under regulatory pressure as institutional capital increases positions in BTC and ETH Original Link: The United States has launched the National Innovation Guidance and Establishment Act for Stablecoins (GENIUS), approved on July 18, with the promise of definitively removing dollar-pegged stablecoins from regulatory ambiguity. The new framework places these tokens under payment-focused oversight, with strict backing and transparency requirements.

The regulation requires authorized issuers to maintain a 1:1 relationship between the issued tokens and high-quality assets, ranging from cash and Federal Reserve balances to short-term Treasury bonds and money market funds. Additionally, they must offer par redemption, periodically disclose their reserves, and provide audits when they exceed certain thresholds.

While defenders celebrate legal clarity and consumer guarantees, criticism has not been long in coming. Some analysts warn that reserve requirements turn issuers into structural buyers of U.S. debt. “Every digital dollar minted becomes a regulated purchase of sovereign debt,” they assert.

South Korea demands a stablecoin bill before December 10 due to regulatory stagnation

South Korean lawmakers have intensified pressure on financial regulators to deliver a draft bill aimed at regulating stablecoins by December 10, amid ongoing disagreements about the role banks should play in their issuance and oversight.

According to local media reports, the ruling party sent a “last-minute notice” to regulators demanding urgency. A legislator from the Democratic Party warned that if the project is not presented within the deadline, the corresponding parliamentary committee will approve it unilaterally.

If it arrives on time, the text is expected to be debated in the extraordinary session of the National Assembly scheduled for January 2026.

BitMine raises its treasury to $12.1 billion and now controls more than 3% of the Ethereum supply

BitMine Immersion reported that the combined value of its assets in cryptocurrencies, cash, and technology stakes reached $12.1 billion, driven by what the company claims is the largest Ethereum treasury in the world.

Despite the recent market downturn, the company intensified its purchases: just last week it acquired 96,798 ETH for around $273 million, a 39% increase compared to its usual pace. With this position, BitMine now controls more than 3% of the total supply of Ethereum and claims to be “two-thirds of the way” towards its internal goal of accumulating 5% of the network.

The company pointed out several factors that favor a greater demand for ETH, including an upgrade scheduled for December 3, and the impending end of the Federal Reserve's quantitative tightening. After the strong liquidation event in October, the market has chained seven weeks of recovery.

Strategy expands its megaposition in BTC after purchasing 130 BTC for $11.7 million

Strategy has once again increased its already colossal Bitcoin reserves by purchasing 130 BTC for about $11.7 million. The acquisitions were made between November 17 and November 30 at an average price of $89,960 per unit.

With this operation, the company accumulates 650,000 BTC, valued at about $56 billion. Its historical purchases have been executed at an average price of $74,436, leaving the firm with unrealized gains of nearly $7.6 billion even after the recent market correction. The company already controls more than 3% of the maximum supply of 21 million Bitcoins.

The new purchases were financed through the sale in the market of 8.21 million ordinary shares, which generated approximately $1.480 billion in the last two weeks. As of November 30, the company still has the capacity to issue additional shares worth $13.370 billion under its current program.