HONG KONG/LONDON (Reuters) -HSBC warned that loan demand and credit quality could suffer from the broader fallout of U.S. President Donald Trump's global trade war, signalling tougher times for trade-focused banks even as the lender's first quarter profit beat forecasts. Europe's largest bank reaffirmed targets and unveiled a fresh $3 billion share buyback as it reported first quarter profit before tax of $9.5 billion compared with $12.7 billion a year earlier, mainly due to one-time charges related to business disposals in Canada and Argentina. HSBC's Hong Kong shares were up 3.2%, against a flat Hang Seng benchmark, while London-listed stock was trading 2.1% higher at 0756 GMT.

The notice from HM Treasury suggested the policies were in response to increasing crypto ownership in the UK and the risk from scams and bad actors.

Bitrace reported that $649 billion — about 5.14% of all stablecoin transactions in 2024 — flowed through high-risk addresses linked to illicit activities.

After the US rejected the idea of a CBDC following Trump's election, it’s yet to be seen whether other countries have any success with their national digital currency projects.

Circle received in-principle approval from Abu Dhabi regulators, moving closer to launching regulated stablecoin services and expanding global USDC adoption.

As the Russian government reportedly eyes ruble-backed stablecoins, a local industry executive warned that a viable “Tether replica” would require a lot of effort.

Lawyers for Samourai Wallet say prosecutors are determining whether to drop the case against the crypto mixer's executives after the Justice Department nixed its crypto team.

The DeFi Education Fund has petitioned White House crypto czar David Sacks to have prosecutors drop charges against Tornado Cash co-founder Roman Storm.

Asian shares were mostly higher on Tuesday after U.S. stocks drifted to a mixed, quiet finish ahead of a busy week of corporate earnings and economic data that could bring more bouts of volatility. U.S. futures edged higher and oil prices fell. A recent relative lull in trading has brought a respite from the sharp swings that have rocked markets for weeks, as hopes rose and fell that President Donald Trump may back down on his trade war.

BEIJING (Reuters) -Chinese airlines and Boeing have been severely affected by U.S.-imposed tariffs, China's commerce ministry said on Tuesday, saying it hopes Washington will listen to companies' concerns and create a stable trade environment. The statement is Beijing's first comment on the impact of tariffs on the aviation industry since U.S. planemaker Boeing flew three 737 MAX planes that had been stationed in China for delivery to Chinese customers back to the United States.