Us Bancorp Studies Stablecoins; India To Boost Crypto Rules

U.S. Bancorp’s institutional crypto custody service is experiencing a comeback under the crypto-friendly Trump administration, with the bank exploring its potential role in stablecoins, according to its CEO.

At the Morgan Stanley US Financials Conference, CEO Gunjan Kedia mentioned that the bank’s crypto custody service, launched in 2021, struggled during the Biden administration, but interest has revived recently.

Kedia noted that the product did not succeed earlier due to unclear regulations for large institutional investors. Now, she stated that the service is back and the bank is ready to provide it, much to the delight of crypto bettors of a licensed offshore sportsbook.

During the Biden administration, the Securities and Exchange Commission took several legal steps against crypto offerings, which led to a decline in interest from institutional investors in crypto businesses.

In contrast, former President Donald Trump, whose family has ties to crypto, has largely rolled back the SEC’s previous enforcement actions related to crypto and has pledged to halt any future regulations against the industry.

Kedia mentioned that the main focus now is on payments using stablecoins, which her company is currently examining. She noted that U.S. Bancorp, also known as U.S. Bank and the fifth-largest bank in the US, might develop its stablecoin.

Kedia also mentioned that her bank could also offer the infrastructure for the token, managing the backing assets and providing services like escrow, though those details are still being worked out.

She noted that while the high transaction volumes in stablecoins seem appealing for financial ventures, much of that activity is actually within the crypto space. She pointed out that around 90% of the volume is just trading between different cryptocurrencies.

India to Boost Crypto Rules

India is set to release a detailed discussion paper on digital assets in the coming weeks, incorporating insights from global organisations like the IMF and FSB. This move indicates the country’s aim to develop a structured regulatory framework in response to the growing acceptance of digital assets worldwide.

The creation of this policy paper aligns with changing global trends, particularly influenced by a more positive view on digital assets from the United States, especially under former President Donald Trump. India is working with various stakeholders and is focused on a careful, consultative process instead of rushing into decisions.

The upcoming document is likely to outline several regulatory options to help define the country’s approach to digital currencies in line with global practices. Sumit Gupta, co-founder of CoinDCX, noted that the discussion paper is highly anticipated for June 2025 and is expected to address key risks in the sector while inviting public input to refine crypto policy.

He also mentioned that this release will finally allow Indian crypto investors, industry players, and media to share their thoughts and feedback on the sector. In July 2024, CoinDCX added the BSV token for trading on its platform, giving users more options to buy, sell, and trade BSV.

With about 15 million registered users, this listing is a major step for BSV in the Indian market and shows its potential in the region. Earlier in 2025, Ajay Seth, Secretary of the Department of Economic Affairs, mentioned that the Reserve Bank of India (RBI) contributed to a discussion paper on digital assets.

However, the release of this paper was delayed due to changes in the global regulatory scene, much to the disappointment of crypto bettors of a licensed offshore sportsbook. One of the reasons for the delay is that many countries had to reassess their strategies regarding digital assets, particularly concerning stablecoins and international payment systems.