Crypto this week (21–27 Sep 2026): the EU and US work on stablecoin rules on the same day

Picture two friends, one in Lisbon and one in Chicago, checking crypto prices on Sunday 27 September 2026. Both saw bitcoin higher than a week before, but not by the same amount. And on the same Thursday, regulators on both sides of the Atlantic had worked on the rules behind stablecoins. Here is the week of 21 to 27 September, region by region.

Key points: what happened in crypto this week?

• Bitcoin closed the week at $84,458 (€74,226), up 4.08% in dollars and 5.00% in euros, after reaching $87,364 on 21 September.
• US: on 24 September the Federal Reserve proposed that the stablecoin issuers it supervises must fully back their coins with approved reserve assets.
• EU: the same day, the European Banking Authority (EBA) set out what it wants changed in MiCA, including stablecoin reserve rules and crypto lending.
• US spot bitcoin ETFs took in about $2.39 billion, which The Block called their largest weekly inflow since October 2025.
• Exchange Bitget lost about $387.5 million from its online wallets on 24 September and paused withdrawals.

Both sides: one price, two currencies

Almost all of the week's gain came on Monday 21 September, when bitcoin (BTC) rose 6.7%, from $81,144 to $86,603. The Block wrote that it "taps $85,000 for first time since January". Coverage named two drivers. CoinDesk's live coverage tied the early rise to falling oil: the Brent oil price fell for a fourth straight session as traders tracked efforts to ease US–Iran tensions. And about $313 million of crypto positions were forcibly closed in one hour, 96% of them "shorts", bets on falling prices (CoinGlass via CoinDesk).

Bitcoin then traded between about $82,900 and $87,300. Its dollar high was $87,364 on 21 September; its euro high was €76,344 on 23 September. It closed at $84,458 (€74,226). Ethereum (ETH) rose 1.67% in dollars and 2.57% in euros, to $2,687 (€2,361).

Why it matters to you: in euros bitcoin rose 5.00%, in dollars 4.08%. The gap comes from the euro–dollar exchange rate, which moved too, so check moves in the currency you use. A jump driven by forced short-closing can be fast in both directions. Our about the crypto market course explains both.

In the US

Stablecoin rules: the Fed's proposal

On Thursday 24 September the Federal Reserve Board asked for public comment on two proposals under the GENIUS Act, the 2025 US stablecoin law. The first says the issuers it supervises must "fully back their stablecoins with certain permissible reserve assets", such as short-term Treasury bills and other high-quality liquid assets, and sets capital and risk-management standards. The second sets out how banks it supervises can apply to issue payment stablecoins. Comments close 60 days after publication in the Federal Register. Governor Michael Barr supported the proposal but raised concerns about its anti-money-laundering standard (The Block). The GENIUS Act takes effect in January 2027.

"Fully backed" means every stablecoin in circulation is matched by reserve assets the issuer holds.

Money flows: $2.39 billion into bitcoin ETFs

US spot bitcoin ETFs, funds that hold actual bitcoin and trade like shares, took in money on all five trading days. Monday's $999 million was the "largest daily inflow in 11 months", according to The Block, and the ninth-largest since the funds began trading on 11 January 2024 (CoinDesk). The week's total was about $2.39 billion, our own sum of the daily figures. The Block said this turned the funds' 2026 flows positive, at about +$934.1 million for the year so far. Spot ether ETFs took in $689.9 million.

A company buyer

US-listed company Strategy bought 1,665 BTC for $142.7 million, about $85,681 each. It paid with part of the $246.2 million it raised by selling 1,469,165 of its own shares. It held 847,666 BTC, at an average cost of $75,437. Selling new shares to buy bitcoin dilutes existing shareholders.

In the EU

Stablecoin rules: the EBA's list for the MiCA review

Also on Thursday 24 September, the European Banking Authority (EBA) published its response to the European Commission's consultation on reviewing MiCA, the EU's crypto law. It finds today's stablecoin rules broadly appropriate, but recommends:

• stronger rules for "multi-issuer" stablecoins issued both inside and outside the EU, to mitigate "significant to very significant risks";
• a review of reserve requirements, including the minimum share held as bank deposits;
• "regulating crypto-asset lending, including activities linked to decentralised finance (DeFi)", meaning services run by code rather than a company;
• clearer scope and definitions, and a review of reporting rules.

As of 1 September 2026, 39 e-money tokens (stablecoins tied to one official currency, such as the euro) had been issued under MiCA, and no asset-referenced tokens, a second type of stablecoin, had been authorised (EBA).

Supervisors look ahead

On 23 September ESMA, the EU's markets regulator, set a new supervisory priority on digital innovation from 2027, starting with "artificial intelligence and tokenisation". The same day, a joint risk report by the EU's financial supervisors noted "continued crypto-asset volatility".

Why it matters to you: MiCA is being reviewed, but nothing changes for users yet. Our course on crypto rules in the EU explains how MiCA works today.

On both sides: an exchange hack and a stablecoin deal

Bitget loses about $387.5 million

On Thursday 24 September, unauthorised transfers drained funds from some of exchange Bitget's "hot" and "warm" wallets, the ones kept online for withdrawals. Its first notice put the loss at about $351.6 million, said cold (offline) wallets were "fully secure", and paused withdrawals while deposits and trading continued. Bitget said its User Protection Fund, "over $464 million", covers the loss.

CEO Gracy Chen said attackers compromised a backend system, spoofed transaction data and triggered the exchange's own approval process, and that "Private key compromise has been ruled out" (CoinDesk). On 26 September the figure was revised to about $387.5 million after Zcash and Tron assets were added; Bitget said this did not reflect additional theft. Withdrawals restarted in phases from 28 September, with everything back on 2 October.

Why it matters to you: an exchange "protection fund" is the exchange's own reserve, not deposit insurance, and a withdrawal pause can last days. Our storing cryptocurrencies course explains hot and cold wallets.

Binance invests $100 million in Circle

On 22 September Circle, the company behind the USDC stablecoin, announced "a $100 million strategic equity investment" by Binance, plus a five-year agreement under which Binance will promote USDC on its platform, especially in emerging markets. Circle pays Binance a monthly fee linked to USDC held through Circle's wallet service (CoinDesk).

What it means wherever you live

In the US and the EU, regulators spent the same day on the same question: what must stand behind a stablecoin. The US is filling in a law that takes effect in January 2027; the EU is reviewing a law that already applies. A hack on a global exchange reaches users in both. And your gain or loss depends on the currency you count in.

What to take from this week

Most of the week's price move happened in one day, alongside falling oil and the forced closing of short bets. The slower story was the rules: two regulators, one question, each on its own timetable.

What you can do now

• Learn what backs a stablecoin in our stablecoins course.
• New to ETFs and fund flows? Start with investment basics.
• Learn the security basics in introduction to security.

Questions readers ask

What happened to the bitcoin price between 21 and 27 September 2026?

It rose 6.7% on 21 September, reached $87,364 that day and closed the week at $84,458, up 4.08% in dollars and 5.00% in euros.

What did the Fed propose for stablecoins?

That the issuers it supervises fully back their stablecoins with permissible reserve assets such as short-term Treasury bills, plus capital and risk-management standards. Comments close 60 days after Federal Register publication.

When did Bitget restart withdrawals?

In phases: bitcoin on 28 September, ether on 29 September, USDT on 30 September, and all other assets, including fiat and P2P, on 2 October.

Crypto prices can rise and fall sharply, and you could lose some or all of the money you put in. Crypto is not covered by deposit protection. This article is for education, not financial advice.