2023-3-13 08:26 |
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins.
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The U. S. Federal Reserve has issued new guidelines for state member banks regarding activities involving stablecoins or “dollar tokens. ” According to these guidelines, banks must secure a written non-objection from the regulator before engaging in any such activities.
2023-8-10 22:30 | |
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Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.
2023-3-13 11:50 | |
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Former CEO and co-founder of BitMex crypto exchange Arthur Hayes proposed a new stablecoin design with a value pegged to Bitcoin. He called it Satoshi Nakamoto Dollar (NUSD) or NakaDollar. The crypto community continues supporting stablecoins despite several misgivings among global regulators and central banks.
2023-3-9 17:20 | |
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Three Japanese banks —Tokyo Kiraboshi Financial Group, Minna Bank, and Shikoku Bank — will issue experimental stablecoins compliant with Japanese laws via the Japan Open Chain, according to a March 2 statement.
2023-3-2 14:40 | |
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Japanese banks, local governments, and private companies will be involved in a stablecoin test using the 'Japan Open Chain.' The post Japanese Banks to Test Stablecoins on ‘Japan Open Chain’ appeared first on BeInCrypto.
2023-3-2 10:00 | |
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Circle CEO, Jeremy Allaire, believes the SEC is not the right fit to regulate stablecoins. Jeremy who supports the new custody proposal, believes banks should regulate them instead.
2023-2-25 14:25 | |
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The Bank for International Settlements is spearheading a project that will look into tech tools that could help regulators form policy frameworks for stablecoins based on data.
2023-2-8 16:00 | |
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A Chinese firm is developing a new payment system interoperable with stablecoins and CBDCs - that acts as a link for central banks to transfer and swap regulated digital currencies - recently unveiled at the World Economic Forum in Davos, Switzerland.
2023-1-24 18:23 | |
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There is no law that bans U.S. banks from issuing paper or digital private banknotes, American Institute for Economic Research economist Thomas Hogan argues.
2023-1-24 16:44 | |
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Central Banks could just opt to use stablecoins instead of developing their own central bank digital currencies (CBDCs), according to one Federal Reserve research advisor. New York Federal Reserve research advisor, Antoine Martin, said that stablecoins offer central banks a potential…
2022-11-24 00:30 | |
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Russians have hopped on stablecoins to circumvent Western sanctions to send trading volumes to new highs. The decision by SWIFT to kick out Russian banks from the network plays a role in the spike in stablecoin use.
2022-10-16 23:58 | |
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The study found that banks mostly held volatile cryptocurrencies and had little exposure to stablecoins.
2022-10-5 21:30 | |
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Federal Reserve (Fed) Chairman Jerome Powell has spoken at the Conference on Opportunities and Challenges of the tokenization of finance, hosted at the Louvre by the Banque de France. In his comments, the Fed chairman addressed the current “DeFi winter,” the utility of stablecoins, and reiterated that a dollar-based central bank digital currency was still … Continued The post Central Banks Will Always Be Source of Trust in Money, Says Fed Chair appeared first on BeInCrypto.
2022-9-28 20:30 | |
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With Taro, payments are routed through Lightning, weakening stablecoins and opening up opportunities for community banks to connect users to a global audience.
2022-8-23 06:00 | |
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Scott Beck, the CEO of United Texas Bank, claimed that stablecoin issuers like Circle were “effectively sucking deposits out of the banking industry.”
2022-8-22 00:19 | |
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Will central banks allow stablecoins to survive? Can they peacefully co-exist with central bank digital currency as a financial instrument for the unbanked?
2022-8-13 17:11 | |
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As Congress considers a path for nonbanks to be allowed to issue stablecoins, Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, says that’s fine with the agencies that once recommended issuers be regulated as banks.
2022-7-19 21:56 | |
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Congress may rebuff U.S. regulators who wanted stablecoins to be the exclusive territory of banks, according to a lawmaker familiar with a legislative effort now in motion. Democrats on the House Financial Services Committee have been working on requirements that may not be as restrictive as the Treasury Department and financial regulators had asked.
2022-7-18 16:38 | |
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Looking for high-interest rates on a trusted platform? Investing in stablecoins like USDT, USDC and others is currently providing much higher APYs than similar investments in traditional banks.
2022-6-10 15:01 | |
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Looking for high-interest rates on a trusted platform? Investing in stablecoins like USDT, USDC and others is currently providing much higher APYs than similar investments in traditional banks.
2022-5-9 15:01 | |
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Stablecoins have maintained a strong growth momentum against the occasionally frustrating crypto market. Recently, the TUSD-TRX pool on the decentralized trading platform SunSwap has yielded up to 12%, and the vault of TUSD achieved an APY of as high as 11.
2022-5-2 13:29 | |
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Could stablecoins be undone by a Federal Reserve that takes consumer deposits? Would retail banks be hobbled?
2022-1-21 19:41 | |
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A new report from consulting firm Ernst&Young highlights the need for bank policy changes to address the challenges posed by central bank digital currencies and stablecoins.
2022-1-19 15:12 | |
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A new report from EY highlights the need for a policy change for banks to overcome business uncertainties regarding digital assets.
2022-1-18 12:19 | |
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U.S. stablecoin issuers might soon face liquidity, customer protection and asset reserve rules — and maybe even a deposit-insurance mandate like banks.
2021-12-31 17:14 | |
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Stablecoins like USDT are under scrutiny in the United States, with some lawmakers calling for greater regulatory oversight of the industry.
2021-12-30 23:45 | |
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After the US, Japan is focusing on stablecoins and is acting to limit the number of companies that can issue these assets backed by fiat currency, according to a Nikkei report. The country’s top banking regulator, Financial Services Agency (FSA), is reportedly planning to propose legislation next year to restrict the issuance of stablecoins to […] The post Japan’s Top Financial Regulator Planning to Limit Stablecoin Issuance to Banks & Wire Transfer Companies first appeared on BitcoinExchangeGuide.
2021-12-7 18:56 | |
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A new proof-of-concept will be tested to send fiat-backed stablecoins between banks to reduce fees and transaction times on international payments.
2021-11-30 06:38 | |
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Stablecoins are destined to grow, experts suggest, but are regulations the only way for the market to reach its full potential?
2021-11-27 20:11 | |
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Yield farming is a still-nascent crypto strategy to high return on investment (ROI) on depositing cryptocurrencies, including bitcoin, ethereum, Binance coin (BNB), and stablecoins. While traditional investments in banks pay a quarter percent, yield farming can give triple-digit % yields.
2021-11-23 16:00 | |
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"There's a real recognition that as these payment stablecoins grow, they could grow at internet scale relatively quickly," Circle CEO said.
2021-11-13 16:28 | |
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US regulators claim that issuers of stablecoins should be subject to the requirements applicable to banks and financial institutions.
2021-11-12 16:47 | |
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Central bank money ensures public trust in money and supports public welfare, said the global body policymaker in its latest report on central bank digital currencies (CBDCs). With new forms of digital money issued by the private sector, such as stablecoins emerging, which has accelerated since the Covid-19 pandemic began, central banks are also ensuring […] The post Significant Stablecoin Adoption Could Result in “Excessive Market Power,” says BIS Report on CBDC first appeared on BitcoinExchangeGuide.
2021-10-1 18:12 | |
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The CEO of HSBC, a British investment bank and one of Europe’s largest banks, Noel Quinn, has shown support for the development of central bank digital currencies (CBDC) while maintaining a skeptical attitude towards stablecoins and cryptocurrencies.
2021-9-23 13:00 | |
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Benoit Coeuré, Bank for International Settlements official and former member of the European Central Bank’s board of directors, said in a recent speech at an EuroFi event that stablecoins and DeFi in general were ‘challenging banks’ business models’ and authorities had to work on creating official digital assets quickly, highlighting growing fears in traditional financial […] The post Trust Token CEO: ‘DeFi is a transformation in finance’ appeared first on Invezz.
2021-9-22 22:05 | |
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Regulators and central banks have paid close attention in recent weeks to stablecoins as the emerging asset class hit a total market cap of more than $100 billion. They’ve recognized the asset class, up fourfold this year alone, is far too big to ignore.
2021-9-11 18:00 | |
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“Crypto is the new shadow bank,” says Senator Elizabeth Warren, who says regulators should consider banning the banks in the US from holding cash deposits backing up stablecoins to effectively end the growing market.
2021-9-6 15:24 | |
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Central bank digital currencies, or CBDC’s, are unlikely to significantly solve the problem of facilitating international cross-border online services, unless central banks put heavy regulations on global stablecoins like Diem.
2021-8-10 19:43 | |
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While stablecoins could serve as an attractive payment instrument that could become a major challenger to banks for processing payments, Christopher J. Waller believes, “there are many legal, regulatory, and policy issues that need to be resolved before they can safely proliferate.
2021-8-7 16:09 | |
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The Basel Committee on Banking Supervision, which sets international banking standards, said on Thursday that the banking industry faces increased risks from crypto-assets and needs tough capital requirements to hold Bitcoin and other cryptocurrencies.
2021-6-11 20:05 | |
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“Money is entering a format war”, wrote Citigroup, in their latest Future of Money report, and this is creating both challenges and opportunity for companies in the payments sphere. The evolution of cryptocurrencies, digital wallets, challenger banks, stablecoins, CBDCs, DeFi protocols and other blockchain-focused payment platforms has opened the doors for forward-thinking companies – old […] The post World’s First DeFi Banking App, Scallop, Innovates Crypto Payments Solutions appeared first on NullTX.
2021-6-11 18:10 | |
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The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their clients.
2021-5-4 03:30 | |
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Central banks are paying very close attention to stablecoins, seeking to control them — and decentralization may be the solution.
2021-4-19 16:15 | |
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Microsoft president Brad Smith is not keen on the idea of technology companies issuing private stablecoins.
2021-3-25 17:01 | |
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Banks face a stablecoin conundrum: Build their own projects, with all the overhead that implies, or work with well-placed existing providers.
2021-2-12 20:07 | |
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Central banks remained adamant private stablecoins do not factor into their CBDC calculus.
2021-1-28 23:01 | |
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When the U. S. Office of the Comptroller of the Currency announced that money transfers could be settled in stablecoins, it was met with a lukewarm response. While the move was pro-digital currency, it did not support the beloved decentralization explicitly.
2021-1-14 12:03 | |
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Ripple CTO explains how the XRP ledger can help banks and other institutions create their own stablecoins using a new tool
2021-1-9 12:06 | |
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From Asia to Europe, major central banks all around the world are expected to announce their own digital currencies soon. This is vindication that stablecoins like EURST are on the right path forward, and they can serve to show how national economies should reinvent themselves following the current crisis. Why Everyone Wants a CBDC Now […]
2021-1-8 09:00 | |
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According to South Korean local media outlet YNA, a Montenegro court has again approved the extradition of the embattled Terraform Labs co-founder Do Kwon. This development occurred less than a week after the Supreme Court of Montenegro invalidated a ruling recommending Kwon’s extradition to South Korea.
Another twist in the extradition saga of Terraform Labs founder Do Kwon revealed that the forgery convict will not return to his native South Korea just yet.
A US court has found Terraform Labs PTE Ltd. and its founder Do Kwon liable for defrauding investors in a multi-billion dollar crypto asset securities case.
Andre Cronje warns that while "things are going great now" such a momentum in the crypto space would eventually turn.
