Investors filed a class action lawsuit in California on March 11, alleging that JPMorgan failed to prevent suspicious transactions related to a $328 million crypto Ponzi scheme operated by Goliath Ventures. The complaint claims that the bank provided exclusive banking services to Goliath from January 2023 through 2025, resulting in the misuse of substantial investor funds. The Goliath CEO has been arrested and faces serious criminal charges.

The Bank of England plans to revisit its stablecoin regulatory framework, potentially relaxing policies to support fintech innovation in response to industry feedback. While regulation aims to ensure safety, excessively stringent requirements have raised concerns among startups that could hinder their development. Analysis suggests that optimized regulation would help facilitate stablecoin adoption and attract international fintech companies.

Bank of AI is advancing its on-chain financial infrastructure, integrating payments, identity, and DeFi functionality across TRON and BNB Chain. The system enables developers to easily integrate automated payments, allowing AI Agents to autonomously participate in lending and Swap operations, aimed at enhancing their financial autonomy.

Revolut obtains a full banking license in the UK and establishes Revolut Bank UK Ltd. to undertake related operations. Over the next few months, user accounts will be gradually migrated. This move provides greater regulatory flexibility, involving deposit protection and potential lending services, reflecting the trend of fintech companies moving closer to traditional banks.

Patrick Witt, Executive Director of the U.S. President's Digital Asset Advisory Committee, stated that stablecoins compliant with the GENIUS Act will bring deposit inflows to the U.S. banking system, rather than outflows as warned by the banking industry. He mentioned the huge global demand for the US dollar and the provision in the bill that prohibits stablecoin issuers from engaging in bank-like lending.

The Central Bank of Georgia's new regulations allow registered companies to issue stablecoins pegged to the legal currency, fully backed by reserve assets, and users can redeem them at face value. Issuers must register and undergo audits, meet capital requirements, and redemption requests must be processed within the specified timeframe.

The European Central Bank announced the Appia roadmap on March 12, aiming to build a tokenized wholesale financial market anchored to central bank money. The plan will go live in 2026, with an open consultation launched and feedback welcomed to support the advancement of the digital euro project.

Gate News Report, March 12 — U.S. major bank Wells Fargo has filed a cryptocurrency-related trademark application with the United States Patent and Trademark Office for the name WFUSD. According to the application documents, WFUSD will provide cryptocurrency payment processing, digital asset trading execution, and asset tokenization software services. The name suggests that it may be a deposit token or stablecoin. Previously in 2019, Wells Fargo disclosed plans to pilot an internal settlement service called "Wells Fargo Digital Cash" on its proprietary distributed ledger platform.

Deputy Governor of the Bank of England Sarah Breeden stated that regulators may adjust their strict stance on the cap for stablecoin holdings in response to opposition from the digital asset industry. She acknowledged that implementing the cap faces technical difficulties and is reviewing feedback, with plans to finalize regulations by the end of the year.

Gate News Announcement: On March 11, the crypto financial services provider and the first federally chartered crypto bank in the United States, Anchorage Digital, is making a strategic investment in security infrastructure company Immunefi and purchasing the company's native token IMU.