Fintech company Revolut plans to offer stablecoins through its future US bank, Reuters reported Wednesday, citing comments from the company’s US CEO, Cetin Duransoy.

Duransoy told the news service that customers of the bank, which is expected to launch next year, will have access to FDIC-insured accounts, multi-currency deposits, stock trading and cryptocurrency services. He said that Revolut plans to initially target retail and business customers with international banking needs, including those managing multiple currencies.

Revolut applied for a US national bank charter in March, which would allow the company to offer federally insured banking products nationwide under a single federal regulatory framework. 

That filing marked a change from the company’s earlier plans to acquire a US bank as part of its expansion strategy. Duransoy joined Revolut that same moont to lead its growth in the United States.

Revolut is looking to get a US foothold in a stablecoin market that has grown to around $319.5 billion, up from about $247 billion a year ago, according to DefiLlama data.

Founded in 2015, Revolut offers digital banking, payments, investing and cryptocurrency products to more than 75 million customers globally, according to its website. Outside of the US, its customers are already able to use their bank cards to make payments with USDT and USDC Stablecoins.

Source: DefiLlama

Related: Mastercard expands support to USDC, PYUSD, RLUSD stablecoin settlement

Stablecoins draw big interest from financial services providers

Revolut’s plans come amid a series of recent stablecoin launches by banks, fintech companies and payment providers as digital-dollar products move deeper into payments and banking services.

In December, digital bank SoFi launched SoFiUSD, a dollar-backed token that enables customers to transact on the Ethereum and Solana networks through the company’s mobile app.

Last week, Falcon Finance introduced the stablecoin fUSD through Anchorage Digital’s regulated issuance platform. The token is backed by cash, repurchase agreements and short-term US government securities and is intended for institutional trading and treasury operations.

On Tuesday, MoneyGram introduced MGUSD in partnership with Bridge, Stripe’s stablecoin platform. The Stellar-based token is integrated into the MoneyGram app and can be used to hold and transfer dollar-denominated balances.

The activity has coincided with a broader push by fintech and digital asset companies to obtain federal banking approvals in the United States. This year, Nubank and Crypto.com received conditional approval to establish national banks, while Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos secured similar approvals from the Office of the Comptroller of the Currency in late 2025.

Source: Crypto.com

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Premier League soccer clubs have been warned by the U.K.’s Financial Conduct Authority (FCA) about sponsorship deals with unauthorized crypto firms.

The FCA said unauthorized firms could be breaching rules on financial promotions through the high-profile sponsorship deals.

Clubs enabling such promotions could be exposed to legal liability, money laundering and reputational damage, the FCA said. Companies not listed on the FCA’s crypto register are allowed to advertise in the U.K. only if their marketing material is signed off by a company authorized to approve it.

“Millions of football fans trust their club’s badge,” Lucy Castledine, director of consumer investments at the FCA, said. “Clubs should not let unauthorised financial firms exploit that loyalty by putting potentially dodgy products in front of millions of fans.”

The most prominent crypto sponsorship deals in the Premier League to date have been OKX’s logo appearing on the sleeves of Manchester City shirts, and Kraken occupying a similar berth on Tottenham Hotspur’s.

Kraken is on the FCA’s registry of authorized crypto firms (through parent company Payward). OKX is not.

The FCA said it has written directly to Premier League clubs to warn them about unauthorized crypto companies and remind them of their responsibilities to their fans.

Neither Manchester City nor OKX had responded to a request for comment by publication time.

US Treasury Secretary Scott Bessent told Senate lawmakers that his department is pushing to establish a strategic Bitcoin reserve and digital asset stockpile more than a year after it was called for in an executive order from President Donald Trump.

Speaking at a Senate Finance Committee hearing on Trump’s fiscal year 2027 budget for Treasury on Wednesday, Bessent said that the department was “proceeding with all deliberate speed” on the president’s 2025 order to establish Bitcoin and digital asset reserves. Although the reserve has been filled with crypto seized by the government, Treasury officials had no additional acquisition plans as of March.

“We are moving forward very quickly on that, and part of that is our digital assets initiative, the strategic Bitcoin reserve is something, this is new technology, this is new ground, we are proceeding with all deliberate speed, and we are making sure that as we are doing this in this complicated process, that we use best practices and things will be durable for the future,” Bessent said in response to questions raised by Senator Tim Scott.

Scott Bessent testifying at Wednesday hearing. Source: US Senate Finance Committee

The US currently holds 328,372 BTC in its reserves, worth about $215 billion at the time of publication. While lawmakers have sought to codify Trump’s order into law by Congress, individual jurisdictions like Texas have already passed legislation creating state-controlled crypto reserves.

Related: US Treasury issues sanctions on Iran, targets 4 crypto exchanges

Bessent did not comment on whether the $1 billion in digital assets seized from Iran since the US-Israel war against the country began in February was included in the crypto reserves. Iran has reportedly been collecting tolls in Bitcoin from ships seeking safe passage through the Strait of Hormuz waterway.

Treasury chief expects CLARITY Act could pass this summer

Bessent also addressed questions from finance committee chair Mike Crapo on the Digital Asset Market Clarity (CLARITY) Act, under consideration in the Senate almost a year after being passed by the House of Representatives. Lawmakers on the Senate Banking and Agriculture committees have passed their versions of the bill to address securities and commodities laws and regulations, respectively, but the full chamber will need to consolidate the bills before any vote.

“We saw Congress pass stablecoin legislation, CLARITY Act, which I would encourage everyone to get behind — it’s very necessary to bring US best practices onshore — and we work tirelessly in terms of custodying these assets and keeping them,” said the Treasury Secretary.

Event contract on CLARITY Act timeline. Source: Polymarket

Bessent said the administration was aiming for the bill to pass the Senate sometime this summer. White House crypto adviser Patrick Witt said in May that Trump was aiming for a July 4 signing ceremony, but some senators expect passage before August.

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Wyoming is formalizing its ambition to become a home for AI infrastructure and large-scale data processing with a new executive order. Governor Mark Gordon signed a directive titled “Data Centers the Wyoming Way,” establishing a framework intended to guide the responsible development of sprawling data centers and other advanced computing facilities across the state. The move highlights Wyoming’s strategy to pair its energy abundance and business-friendly climate with growing demand for AI training, cloud services, and high-performance computing.

The order directs executive-branch agencies involved in permitting, reviewing, regulating, supporting, or facilitating large-scale data center projects to operate within a cohesive framework. At its core, the framework emphasizes water usage and environmental stewardship, workforce development, and protections for residential electricity customers as data centers scale up in the state. In short, Wyoming aims to attract digital infrastructure while addressing community and resource concerns that come with bigger power draws.

The administration framed the initiative as a measured, strategic response to a broader national push on artificial intelligence infrastructure. The timing comes as the White House has intensified its focus on AI capabilities and resilience, and as the private sector accelerates spending to train and operate large-scale models. Bloomberg data cited in coverage of U.S. tech spending shows several large players planning significant capital commitments to AI and data-center capacity this year.

Industry-backed estimates available around the same period show the so-called Magnificent 7—Microsoft, Amazon, Meta Platforms, and Alphabet among them—expected to invest well over $650 billion in AI and data-center infrastructure in 2026. The scale of that spending underscores a competitive landscape where states like Wyoming seek to carve out a role as strategic hosts for enterprise cloud, AI workloads, and next-generation computing facilities.

In a parallel development, Berkshire Hathaway has been increasing its financial alignment with Alphabet, signaling continued appetite for AI-enabled platforms and services. The move sits within a broader investment environment where corporate balance sheets are recalibrating to the AI era, even as policymakers weigh how such infrastructure should be regulated and taxed.

State of Wyoming Executive Department Executive Order 2026-03. Source: State of Wyoming

Related: Wyoming Senator revives crypto tax exemption debate amid market structure talks

Key takeaways

• The executive order establishes a centralized framework to guide permitting, regulation, and support for large-scale data center and advanced computing projects in Wyoming, with explicit attention to water use, environmental impacts, and residential electricity protections.
• The move aligns Wyoming with a broader national thrust toward AI infrastructure, occurring as major tech players plan hundreds of billions in AI and data-center investments this year.
• Wyoming’s energy profile—already a magnet for Bitcoin mining—gets woven into the AI/infrastructure narrative, potentially shaping how mining operations and data centers coexist with local grids and policy safeguards.
• Industry dynamics suggest miners and AI/HPC operators could view Wyoming as a potential hub, given policy clarity and the state’s energy resources, though implementation details and permitting timelines will matter for timelines and capital plans.
• Keep an eye on how environmental safeguards and residential electricity protections are implemented in real projects, plus how federal and state policy interactions influence tax and incentives for data-center developers and crypto miners alike.

Wyoming’s AI framework and the data-center push

The essence of the Wyoming plan is to create a predictable, accountable pathway for building and operating data centers at scale. By instructing agencies to coordinate permitting and review processes while prioritizing sustainable water use and environmental safeguards, the order seeks to reduce friction for developers who can demonstrate long-term reliability and community benefits. Workforce development is also highlighted, aiming to prepare Wyoming residents for the kinds of high-skilled jobs that accompany AI workloads and HPC services.

Officials say the framework is designed to balance growth and resilience: data centers can drive regional economies, support the enterprise cloud ecosystem, and underpin AI model training and inference, but not at the expense of water resources, local power reliability, or consumer electricity costs. The executive order therefore signals a governance model in which economic incentives and environmental responsibilities are intertwined rather than treated as separate concerns.

National momentum and the AI infrastructure race

The Wyoming initiative arrives amid a national spotlight on AI infrastructure development. As major technology groups accelerate their data-center and cloud-building plans, state policymakers are examining how to attract this capital while maintaining safeguards. A notable dimension of the current environment is the scale of private capital earmarked for AI computing and the associated energy demands. In 2026, observers expect several large tech incumbents to deploy hundreds of billions in related infrastructure, a trend that could redefine regional data-center clusters and job markets.

Media reporting has underscored how AI-driven workloads—from language model training to enterprise cloud services—will require extensive, specialized compute capacity. The resulting capital flows reinforce the strategic value of places like Wyoming that can offer stable energy prices, a permissive regulatory backdrop, and a supportive talent pipeline. The dynamic also interacts with corporate investment strategies, such as Berkshire Hathaway’s increasing stake in Alphabet, which illustrates an overarching valuation of AI-enabled platforms beyond pure mining or hardware plays.

Wyoming’s energy mix, mining heritage, and the AI horizon

Wyoming has long been associated with abundant energy resources, a factor that makes it a natural laboratory for data-center and cryptocurrency mining ambitions. In recent years, the state has attracted Bitcoin mining activity, with facilities expanding through partnerships and acquisitions tied to significant power capacity. For example, a notable miner expanded its footprint in Wyoming through the acquisition of a site tied to 75 megawatts of power capacity, illustrating how energy cheapness and reliable supply can support specialized compute operations.

Beyond pure mining, several peers in the crypto ecosystem have diversified into AI and high-performance computing services to counterbalance volatility in mining revenues. Industry tracking in the sector has highlighted moves by miners such as IREN, MARA, Cipher Digital, Hut 8, HIVE Digital, and TeraWulf to pursue AI-hosting, HPC services, and data-center partnerships. This shift signals a broader convergence between crypto infrastructure and AI-enabled compute, where operators leverage existing power links, colocation opportunities, and energy markets to broaden revenue streams.

Analysts have begun to cast a wider net on these developments, with research firms initiating coverage on companies positioned in the space as part of what they term “emerging AI infra.” The ongoing evolution will hinge on how these firms balance profitability with the capital-intensive needs of AI workloads, as well as how policy and grid management adapt to continued growth in data-center and mining operations alike.

What to watch next for investors and operators

Wyoming’s data-center framework marks a notable step in aligning state policy with the realities of AI adoption and enterprise cloud expansion. For investors and technology builders, several questions loom: How quickly will the permitting framework translate into shovel-ready projects? What specific environmental safeguards will be required for water use and energy draw, and how will residential electricity protections be enforced in rapidly expanding zones? How will federal policy and potential incentives intersect with state rules to shape project economics?

In the near term, market participants will be watching for details on project eligibility, timelines, and any incentive packages that accompany the framework. Industry observers will also monitor how mining operations coexist with AI infrastructure within the same energy ecosystems, and whether Wyoming’s approach to data centers becomes a model or a constraint for other states pursuing similar goals.

As AI infrastructure accelerates nationwide, Wyoming’s plan adds a practical blueprint for balancing growth with environmental stewardship and community protections. The next set of announcements—from permitting outcomes to specific project pipelines and workforce programs—will reveal how the “Wyoming Way” translates from policy to real-world data centers, HPC facilities, and potentially a broader ecosystem of AI-enabled services in the state.

Readers should keep an eye on updates to the state’s executive branch actions, any guidance published by the Wyoming Department of Environmental Quality or workforce agencies, and the evolving dialogue around crypto taxation and enterprise AI incentives that could interact with the new framework.

Israeli tax authorities have received far fewer crypto tax corrections than expected under a voluntary disclosure program that offers criminal immunity to eligible taxpayers.

According to a Wednesday report by Globes, the Israel Tax Authority had expected the program to generate up to $1 billion in tax revenue from undeclared cryptocurrency profits. However, the authority has so far received disclosures covering only about $50 million in crypto capital, the report said.

Crypto disclosures fall short of tax authority expectations

Globes reported that only 58 taxpayers had used the voluntary disclosure route to correct earlier crypto tax filings. The figure remains far below the level officials expected after the policy was introduced in August 2025.

Under the procedure, eligible crypto holders can avoid criminal proceedings if they correct their reports and pay the full tax owed. Globes said the protection applies only where the value of the taxpayer’s crypto holdings did not exceed the equivalent of $522,000 as of December 2024.

The report added that taxpayers must submit accurate disclosures and complete the tax payment before Aug. 31, 2026. The low response has left the authority with a small share of the revenue it had expected from undeclared digital asset gains.

Lack of anonymous route weakens incentive

Iftach Simhony, a CPA and head of the tax department at Prof. Bein Law Office, told Globes that the procedure has a major weakness for crypto taxpayers because it does not include an anonymous track at the first stage.

Simhony said the absence of anonymity becomes more serious in cryptocurrency cases. According to his comments reported by Globes, taxpayers who do not believe their enforcement risk is high may have less reason to enter a process that exposes them before they receive certainty.

The Globes report said Israeli officials still believe large sums of crypto-related profits remain outside the tax system. It said authorities see the disclosed $50 million as only a small part of possible underreported holdings.

Bank of Israel data shows large crypto holdings

According to the Bank of Israel’s financial stability report for January to June 2024, Israelis held about $1 billion worth of crypto assets. The figure gives context to the gap between expected voluntary disclosures and the amount reported so far.

The weak uptake also comes as Israeli financial authorities have been paying closer attention to digital assets. As crypto.news previously reported, Israel had moved toward tighter stablecoin regulation as the Bank of Israel examined how private digital currencies could fit into the country’s future payments system.

At a recent financial conference, Bank of Israel officials said the central bank was reassessing the role of private digital currencies in daily transactions. The officials said stablecoins were moving beyond crypto trading circles and into payment discussions.

US lawmakers weigh small crypto tax relief

Outside Israel, crypto tax reporting has also drawn attention in the United States. Members of the US Congress introduced the PARITY Act in May, which would direct the IRS to review a de minimis exemption for digital assets.

Under the proposed measure, US taxpayers would not be required to report certain small crypto transactions to the IRS. The proposal comes as governments continue to weigh tax enforcement against the practical burden of reporting routine digital asset payments.