New York's Department of Financial Services has proposed a broad stablecoin regulatory framework aimed at aligning state oversight with federal standards under the GENIUS Act. The plan would tighten reserve, liquidity, cybersecurity, and operational requirements, and would require issuers to redeem customer funds within two business days. It also reiterates restrictions that bar interest-bearing stablecoins and outlines a one-year transition period once the GENIUS Act formally takes effect.

Circle has introduced cirBTC on Ethereum, aiming to let institutions and bitcoin holders use BTC-backed tokens as DeFi collateral without selling their underlying BTC. Each cirBTC is backed 1:1 by native bitcoin held at a regulated Circle entity, with reserves designed to be verifiable onchain via Chainlink Proof of Reserve. At press time, supply was about 0.0097205 cirBTC across roughly seven holders.

On June 8, 2026, decentralized lending protocol Morpho raised $175 million in a funding round co-led by Paradigm, a16z crypto, and Ribbit Capital, pushing its valuation up to $2 billion. The raise comes as Morpho’s TVL has climbed to nearly $6.5 billion across 37 chains versus Aave’s $12 billion, and the project says it will deploy the capital to expand its "open credit network" infrastructure.

SBI Shinsei Bank will start a three-month pilot on June 10 offering Japanese depositors vouchers equal to 20% of interest earned on eligible accounts. Customers can redeem the vouchers for Bitcoin, Ether, or XRP via the group's licensed exchange, SBI VC Trade, and the bank said about 4.33 million deposit accounts may qualify.

MUFG Bank, Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Bank plan to co-issue a Japanese yen-pegged stablecoin by the end of Japan’s fiscal year 2026 (March 2027). The project follows joint pilot testing that began in November 2025 with involvement from Japan’s Financial Services Agency, while details such as token design, target users, and settlement setup have not been disclosed.

Asterix, a fork of the NFT liquidity platform Flooring Protocol, confirmed an exploit that drained about $40,000 and said the $ASTX token contract was hit around 4 a.m. GMT+8. The incident followed the June 8 Flooring Protocol exploit, where losses initially topped $900,000 before white hats recovered roughly $500,000 in NFTs. The back-to-back attacks underscore how unpatched flaws can propagate through forked codebases.

A group of more than 200 crypto companies sent a joint letter on June 7–8 urging Senate leaders John Thune and Chuck Schumer to bring the CLARITY Act to a floor vote "without delay." The bill advanced out of the Senate Banking Committee 15–9 on May 14 and reached the General Orders Calendar by June 1, but a vote has not been scheduled as lawmakers face a July 4 signing target and an approaching August recess.

MetaMask said on June 8 it introduced Agent Wallet, a self-custodial product that lets AI agents trade and use DeFi protocols under user-set rules. The early-access release supports swaps, perps, prediction markets and liquidity actions across EVM networks, plus Hyperliquid. MetaMask also includes transaction simulation, Blockaid threat detection, MEV protection and potential coverage for losses up to $10,000 under its terms.