Crypto News You May Have Missed | August 17 – 23, 2025

Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.

From China eyeing Yuan-backed stablecoin to CFTC asking comments on its “Crypto Sprint”, here is a roundup of the top crypto stories you may have missed.

China Eyes Yuan-Backed Stablecoins

China’s State Council is reviewing plans to introduce yuan-backed stablecoins in a bid to expand the currency’s role in international trade and payments. The move would mark Beijing’s first step toward allowing regulated stablecoins, shifting from its earlier focus on the central bank’s digital yuan.

The proposal seeks to challenge dollar-pegged tokens such as USDT and USDC, which dominate the $279 billion stablecoin market. 

Officials see potential in faster, low-cost cross-border settlement but remain wary of risks tied to speculation and illicit finance, with recent restrictions on stablecoin promotion and fraud warnings from Shenzhen authorities.

Advertisement

MetaMask, a self-custodial crypto wallet developed by Consensys, announced the launch of its first native stablecoin, MetaMask USD ($mUSD), in partnership with Bridge, a Stripe company, and decentralized stablecoin platform M0. 

The token is the first stablecoin issued by a self-custodial wallet and will be integrated directly into MetaMask’s ecosystem, enabling users to on-ramp, swap, bridge, and soon spend via the MetaMask Card at Mastercard-supported merchants.

MetaMask USD will initially launch on Ethereum and Linea, Consensys’ EVM-compatible Layer 2 network, where it is set to play a central role in DeFi activity. Fully backed 1:1 by liquid dollar-equivalent assets, $mUSD. MetaMask says the token will lower costs, reduce friction for onboarding into web3, and provide a foundation for real-world payments.

Winklevoss Twins’ Gemini Files for IPO on Nasdaq

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has filed publicly for its initial public offering after submitting a confidential filing in June. 

The platform plans to list on Nasdaq under the ticker symbol GEMI, according to its Friday filing with the U.S. Securities and Exchange Commission. The size of the offering and expected price range were not disclosed.

Founded in 2014, Gemini ranks among the largest U.S. crypto exchanges by trading volume, holding $18 billion in assets and $285 billion in lifetime trading volume, data from Kaiko shows. The company reported $142.2 million in revenue for 2024, primarily from transaction fees, but posted a net loss of $158.5 million. The Winklevoss twins remain its largest shareholders.

Payments, AI Seen to Drive Next Wave of Crypto Adoption

Payments and artificial intelligence (AI) are expected to lead the next phase of cryptocurrency adoption, according to a survey conducted by Reown with YouGov. 

The study, which polled 1,000 crypto users in the US and UK, found that 37% of respondents pointed to payments and AI as the biggest adoption drivers, with 27% predicting that on-chain payments will become the dominant experience for mainstream users within three to five years.

The report highlighted the growing role of stablecoins such as USDT and USDC in everyday transactions, as well as the potential of AI to improve fraud detection, user personalization, and portfolio optimization in DeFi. Industry players, including Mastercard and Telegram’s TON wallet, are also expanding crypto’s real-world use cases, underscoring the sector’s push toward scale and mainstream accessibility.

The U.S. Commodity Futures Trading Commission (CFTC) launched the next phase of its “Crypto Sprint” initiative, moving to implement additional recommendations from the President’s Working Group on Digital Asset Markets. 

Acting Chair Caroline Pham said Thursday that the agency will begin stakeholder engagement and is seeking public feedback on the recommendations until Oct. 20, 2025.

The announcement follows the CFTC’s earlier rollout on Aug. 4, which focused on enabling spot crypto trading on registered futures exchanges. The new phase is expected to expand into issues such as registration, custody, trading, and recordkeeping, with coordination between the CFTC and the SEC highlighted as a key part of the roadmap.

This article is published on BitPinas: Crypto News You May Have Missed | August 17 – 23, 2025

What else is happening in Crypto Philippines and beyond?