In the last few hours, crude oil has pushed back above $100 a barrel for the first time in seven weeks, reviving inflation concerns just as two key US inflation reports approach and the Fed’s next move hinges on them. The dollar and gold sit at the centre of that debate, while the Bank of Japan is reportedly set to raise rates to 1.25% this month and reach 1.75% sooner than expected, keeping the yen and bond markets in focus. The Treasury’s expanded buyback operations add another layer to the rates picture, and the Bank of England has flagged AI-driven risks to financial stability. Elsewhere, the RBI is exploring tokenised gold, and European banks plan a euro stablecoin on Ethereum by late 2026. In crypto, the Treasury has sanctioned a $24 billion scam marketplace that is shifting away from Tether toward a rival stablecoin, a reminder that enforcement is reshaping stablecoin flows. Tether, meanwhile, is launching a private credit fund to broaden stablecoin use, and Block is seeking a US trust bank charter for Bitcoin and stablecoin activities. Regulatory attention is broadening: the SEC has cleared Texas rules for crypto commodities, Italy’s central bank now requires sanctions screening on transfers, and India is pursuing takedowns of platforms over AML compliance. The CLARITY Act, an Illinois tax challenge and India’s September hearing all remain live themes to watch.
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