Neutrl pauses NUSD redemptions over undisclosed reserve issue
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Aptos Labs becomes a launch partner for the new stablecoin OpenUSD, whose ecosystem stablecoin surpassed $2 billion in June.
According to Foresight News , Aptos announced that its ecosystem stablecoin's market capitalization surpassed $2 billion in June 2026, setting a new record. Simultaneously, Aptos Labs announced its launch partner for OpenStandard's new stablecoin, OpenUSD, alongside other institutions such as Mastercard, Visa, and Stripe. OpenUSD is positioned as an open, low-cost stablecoin aimed at promoting the development of an open financial system.
OUSD claims that over 140 companies participated, but several South Korean companies, including Samsung Electronics, stated that they had not formally negotiated with the issuer.
BlockBeats reported on July 3 that Open Standard, a global stablecoin consortium, recently announced the launch of its USD stablecoin, OpenUSD (OUSD), with over 140 global financial and payment companies, including Visa, Mastercard, BlackRock, Samsung Electronics, and Dunamu, participating. The token is planned for launch within the year. However, several South Korean companies stated that they have not had formal negotiations with the OUSD issuer. A Samsung Electronics representative stated, "There have been no formal negotiations, and we don't know what role we will play in the consortium." Shinhan Financial Group, Dunamu, and K Bank also stated that Open Standard inquired about their interest in participating, and the companies only responded that they could conduct a simple evaluation, but their names were subsequently added to the consortium's member list. One company representative stated that they only learned of their company's inclusion in the OUSD consortium through the news, and "they only gave a perfunctory reply to Open Standard's inquiry about their participation, saying they would consider it if things went smoothly," adding that they were confused about being included on the member list. OUSD adopts an open infrastructure model, aiming to be jointly operated by companies that actually provide payment, remittance, and settlement services. According to the introduction, participating companies can mint 1 OUSD after depositing $1 into the Open Standard reserve account; after returning 1 OUSD, they can redeem $1 from the reserve account. OUSD alliance participants can mint and redeem OUSD without fees or restrictions, and the plan is to distribute the proceeds from reserve utilization to network participants after deducting a small management fee. (ChosunBiz)
The Reserve Bank of India supports the cryptocurrency ban, while tax authorities warn of potential tax evasion risks.
According to Reuters, the Reserve Bank of India (RBI) has reiterated its call for a “ban” on cryptocurrencies, while the country’s tax authorities have warned that transactions conducted through offshore exchanges are difficult to trace. These documents reveal that while the government has not yet enacted a policy banning or regulating cryptocurrencies, key Indian government agencies are leaning towards stricter restrictions on virtual digital assets. India has allowed cryptocurrencies to exist in a gray area since a 2018 court ruling that the RBI’s de facto ban on cryptocurrencies was invalid. Legislation drafted in 2021 to ban private cryptocurrencies has never been submitted to parliament, and a discussion document on the issue has been repeatedly delayed. The government has postponed the implementation of a formal virtual asset policy, stating that any plan should balance innovation with risk management while protecting monetary sovereignty, financial stability, and preventing consumer losses.
Bitunix analysts: The Federal Reserve has downplayed policy guidance, with "uncertainty premium" becoming the main battleground, rather than the interest rate path.
According to BlockBeats, on July 7th, the focus of global markets is gradually shifting from interest rate direction to policy communication methods. Federal Reserve Governor Waller stated that forward guidance should not be a fixed framework and could even be completely eliminated if necessary, reiterating that the central bank will not deliberately maintain low interest rates to address government fiscal deficits. This means that the market will rely more on real-time economic data rather than pre-determined interest rate paths from central banks, reducing policy predictability. It also means that asset prices will become increasingly sensitive to inflation, employment, and economic data, and market volatility may refocus during periods of major data releases. On the other hand, Middle East risks have escalated again. Reports of missile attacks on merchant ships in the Strait of Hormuz have surfaced again, threatening to shatter the previously established window of easing tensions between the US and Iran. Trump reiterated that he would not rule out escalating military action if negotiations fail. However, Saudi Arabia lowered its official selling price for crude oil to the Asian market in August, reflecting relatively ample supply. The energy market is currently still oscillating between "geopolitical risks" and "supply easing," and whether oil prices can rebound in the short term depends on whether the conflict further impacts actual supply. On the other hand, the issues of Japanese debt pressure and the continued weakening of the yen have resurfaced, and market doubts about the Bank of Japan's policy space have not subsided. The trend of global capital flowing into high-yield dollar assets has not changed significantly. For the crypto market, what truly deserves attention is not a single event, but the loss of the "certainty" provided by central bank forward guidance. As policy begins to rely entirely on data, geopolitical risks escalate, and global liquidity remains tight, the crypto market will continue to be primarily driven by changes in risk appetite and liquidity momentum in the short term. Price movements will continue to be repeatedly disrupted by macroeconomic events and market sentiment. Until capital flows truly form a unified direction, a cautious stance is expected to persist.
Bloomberg: Trump's strategic Bitcoin reserve plan faces legal and jurisdictional obstacles.
According to Odaily, the strategic Bitcoin reserve program promoted by US President Trump is facing legal and jurisdictional issues, with the core controversy being whether the US Treasury Department has the legal right to manage the reserve. Early in his presidency, Trump proposed establishing a strategic Bitcoin reserve, primarily funded by the U.S. government's criminal or civil seizures of existing Bitcoin holdings, and a separate digital asset inventory. Related executive orders also required the Treasury and Commerce Departments to develop a "budget-neutral" Bitcoin acquisition strategy, meaning it should not increase taxpayer costs. However, sources say the debate surrounding the reserve has now shifted to whether it should be placed under the Commerce Department, rather than the Treasury Department. Another point of contention is whether the U.S. government can hold BTC "indefinitely," given its price volatility. White House spokeswoman Liz Huston said the Trump administration is still evaluating the optimal structure for its strategic Bitcoin reserve and U.S. digital asset inventory to deliver on its vision of making the U.S. a global hub for cryptocurrency and cutting-edge technology. (The Block)
BNY Mellon: The urgency for further tightening by the Federal Reserve has diminished.
According to BlockBeats, on July 6th, Jeff, senior macro strategist at BNY Mellon, pointed out that weaker U.S. labor market data and improved inflation data have reduced the urgency for further tightening by the Federal Reserve, but this does not address whether the slowdown in growth is under control or whether policy expectations have been over-adjusted. He stated, "The global narrative is becoming less unified." In the U.S., the question is whether the Fed can remain patient if inflation risks do not re-emerge; while in Europe, the focus is shifting from emergency inflation management to issues such as economic growth, fiscal credibility, and defense financing.