The payments industry is no stranger to disruption. But it has long had the same strategy for it: rely on the key foundations of trust, transparency and interoperability. That framework is increasingly being brought to bear on stablecoins, the fiat-pegged digital assets that are emerging as the potential killer app for blockchains in 2025. Despite [] The post 3 Things Payment Stakeholders Can All Agree On About Stablecoins appeared first on PYMNTS.com.

Create an account to save your articles.Create an account to save your articles.Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEA British man who ran a global phishing service has been jailed for eight-and-a-half years.Zak Coyne created LabHost—a subscription service that allowed fraudsters to access fake versions of legitimate websites.The fraudulent pages could then be used to deceive unsuspecting victims into handing over sensitive information.According to the British Crown Prosecution Service, the 24-year-old received $230,000 worth of cryptocurrency for designing and operating the site.The digital assets were laundered through multiple wallets and ultimately transferred to his bank after being converted into cash by a third party.Cybersecurity firm Trend Micro reported that LabHost offered three tiers of membership to cybercriminals that were paid for using Bitcoin.A standard plan cost $179 per month, while the priciest package—which allowed multiple campaigns to be executed at once—cost $300.Some of the phishing pages available masqueraded as banks, government departments and companies including Amazon, Uber and Netflix.Estimates suggest that LabHost was used by thousands of criminals in 91 countries, who collectively defrauded more than one million people.According to blockchain analytics platform Chainalysis, crypto wallets with ties to the site received more than $1.1 million worth of digital assets between August 2021 and April 2024.Losses in the U.K. stood at $42 million, extending to more than $132 million worldwide.Coyne was arrested at Manchester Airport in the North of England back in April 2024, and the website was subsequently taken down.Investigators recovered a large amount of evidence after his devices were seized, with London's Metropolitan Police describing it as a "monumental operation."Commander Stephen Clayman said Coyne had brought "misery to thousands of innocent people," and told would-be fraudsters: "We will find you and take action."The father of one had pleaded guilty to three criminal counts last September.Judge Jenny Lester-Ashworth told him during sentencing that LabHost was "one of the most professional and sophisticated websites in the world" for online fraud.""You also enjoyed what you were doing and also by being immersed in the criminal underworld operating online," she added

The following is a guest post and opinion from Forest Bai, Co-Founder at Foresight Ventures.Stablecoins are no longer a crypto niche—today, they are the infrastructure layer powering the next generation of global payments.Over the past year, the stablecoin market cap has doubled, soaring from under $150 billion to a record $232 billion, while transaction volumes tripled, now eclipsing even Visa’s sprawling network.Tether (USDT), USD Coin (USDC) and PayPal’s PYUSD continue to dominate transaction flows, but dozens of new stablecoins keep entering the market, each targeting specific regions, user segments or enterprise needs.Combined with explosive growth, these developments confirm stablecoins’ evolution: No longer a crypto niche but foundational payment infrastructure. Stablecoins now operate at the intersection of regulation, financial technology and real-world usage.Impending U.S. Regulation Could Be a Historic MilestonePerhaps the most significant development is Washington’s newfound seriousness about stablecoin regulation. The bipartisan GENIUS Act in the Senate proposes what could become the first balanced federal framework for the sector.It recognizes both bank and non-bank issuers, allows state-regulated entities to continue operations, and imposes requirements for full 1:1 backing and strict compliance with consumer protection laws. It’s designed to make stablecoins safer without killing innovation.The STABLE Act, scheduled for House Financial Services Committee review on April 2, focuses on risk management and abuse prevention through strengthened anti-money laundering protocols and increased oversight. Together, these bills signal that the U.S