News Roundup — Morgan Stanley applies for OCC bank charter to custody crypto

Major news stories this week;

1. Morgan Stanley applies for OCC bank charter to custody crypto
2. US strike force freezes and seizes over $580 million in crypto tied to Chinese crime networks
3. PayPal, MoonPay and M0 launch PYUSDx to let devs issue app-specific stablecoins
4. Deutsche Bank-backed AllUnity launches Swiss franc stablecoin CHFAU
5. Indiana Bitcoin Rights Bill clears legislature, awaits governor’s signature

Story Summaries;

1. Morgan Stanley applies for OCC bank charter to custody crypto Morgan Stanley is pursuing a U.S. national bank charter that would allow it to deliver regulated digital-asset custody under the OCC’s oversight. The move signals continued momentum from major financial institutions toward offering end-to-end crypto services, and the decision could influence how peers structure similar offerings.
2. US strike force freezes and seizes over $580 million in crypto tied to Chinese crime networks U.S. enforcement agencies report freezing and taking control of a large pool of crypto linked to fraud operations associated with China-based criminal groups. The case highlights how blockchain-based funds can still be traced and disrupted at scale, and reinforces the growing focus on international coordination in tackling crypto-enabled financial crime.
3. PayPal, MoonPay and M0 launch PYUSDx to let devs issue app-specific stablecoins PayPal, MoonPay, and M0 have introduced PYUSDx, a framework designed to help product teams create branded stablecoins tailored to specific apps and user communities. By using PayPal USD as the underlying backing, the initiative aims to shorten time-to-market and enable multi-chain deployment for application-led payment and loyalty use cases.
4. Deutsche Bank-backed AllUnity launches Swiss franc stablecoin CHFAU AllUnity, supported by Deutsche Bank, has rolled out CHFAU—an institution-facing stablecoin tied to the Swiss franc—through its minting platform. With MiCA-aligned positioning and a BaFin licence, the launch underlines how regulatory clarity in Europe is accelerating compliant stablecoin issuance and distribution.
5. Indiana Bitcoin Rights Bill clears legislature, awaits governor’s signature Indiana lawmakers have approved a bill focused on establishing clearer protections and rules around Bitcoin usage in the state, sending it to the governor for final sign-off. If enacted, it would add to the growing patchwork of state-level crypto policy in the U.S., with potential implications for consumers, merchants, and local service providers.

And that’s all for last week’s news! Wishing you a great week ahead!