UK crypto regulation in focus as BOE targets stablecoins for 2024

2023-12-3 23:05

The Bank of England is introducing sweeping regulations for stablecoins and digital currencies, but some lawmakers question whether a digital pound is needed at all.

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digital stablecoins currencies crypto lawmakers question all

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Источник: btcmanager.com

digital stablecoins → Результатов: 126

Singapore’s Top Banker Predicts Endgame For Private Crypto, Hails New Era Of Digital Currencies

Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), has recently underscored the noticeable transformation in the monetary landscape, highlighting central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins emerging as key components.

2023-11-29 00:00	StableCoin
bank monetary singapore currencies digital emerging landscape

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BIS researchers believe that stablecoins will not live up to hype

A recent report by the Bank for International Settlements raises concerns about stablecoins' ability to maintain parity with their pegged assets, challenging their stability and reliability as a digital currency.

2023-11-9 22:08	StableCoin
stablecoins parity currency maintain ability concerns pegged

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Stablecoins Poised To Tackle Issues Unresolved By Bitcoin And Ethereum – Report

Stablecoins, the digital assets designed to minimize price volatility, are poised for a significant metamorphosis in the near future, driven by the evolving demands of the competitive financial landscape.

2023-11-1 15:00	Stablecoins
poised stablecoins future near metamorphosis significant demands

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Brazil reports stablecoin boom as USDT trading volume surpasses all other digital assets combined

Brazil’s Receita Federal — the Special Department of Federal Revenue — has recently reported a substantial increase in the usage of stablecoins, specifically Tether’s USDT. According to the regulator’s report, the volume of USDT exceeded the combined trading volume of all other cryptocurrencies in 2022.

2023-10-30 02:48	Stablecoins
usdt volume brazil combined all federal trading

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In a week where every high-volume digital asset is up, stablecoins lead losses with a mere 0.12% decline

In a bullish indicator for the broader cryptocurrency market, six stablecoins have technically led industry losses over the past 7 days, with the largest decline at 0. 12%, underscoring the overall strength of the market.

2023-10-26 15:40	Stablecoins
stablecoins decline market losses led six technically

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Deutsche Bank and Standard Chartered pilot SWIFT alternative for digital currencies

Deutsche Bank and Standard Chartered test Universal Digital Payments Network (UDPN) for digital currency transactions. UDPN connects blockchain networks, facilitating seamless transactions between stablecoins and CBDCs.

2023-10-26 15:38	StableCoin
digital udpn deutsche transactions chartered standard bank

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Deutsche Bank and Standard Chartered Completed the First Stablecoin Transfer and Swap

Deutsche Bank and SC Ventures pioneered the first UDPN proof-of-concept, executing real-time transfers and swaps between USDC and EURS stablecoins, illuminating the path towards a digital financial future.

2023-10-24 20:42	stablecoin news
deutsche bank eurs usdc between swaps stablecoins

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Digital Dollar May Pose 'Significant Risk,' Fed Governor Bowman Says

Governor Michelle Bowman suggests other payments services, including FedNow, may do a CBDC's job better, and she's also suspicious of the dangers of stablecoins.

2023-10-18 19:05
bowman governor may better job cbdc she

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Binance.US asks users to convert USD into stablecoins for withdrawals

Binance.US users “may convert” their U.S. dollar holdings to stablecoins or other digital assets to withdraw the funds from their accounts, the firm said.

2023-10-17 17:08	Binance
stablecoins binance convert users assets withdraw funds

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Stablecoins: Roman Coins or Spanish Doubloons for the Modern Era

Borderless by design, these modern digital tokens can make cross-border commerce much cheaper and easier.

2023-10-12 18:45	Stablecoins
modern make tokens digital cross-border commerce easier

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USDT vs Tradecurve Markets: Understanding the Future of Stablecoins

Stablecoins play a pivotal role in providing stability and addressing the notorious price volatility often associated with digital assets. USDT is perhaps the most well-known stablecoin, but it has faced many issues in the past, leading investors to use alternatives.

2023-9-11 14:00	Latest News
stablecoins usdt stablecoin assets perhaps well-known faced

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Fed watchdog Michael Barr calls stablecoins risk for economy

Federal Reserve’s Michael Barr highlights the risks of unregulated stablecoins, emphasizing the need for robust federal oversight in the evolving digital currency landscape. Michael Barr, the Federal Reserve’s leading authority on banking oversight, has voiced robust concerns regarding stablecoins operating…

2023-9-8 20:00	United States
stablecoins federal barr michael oversight robust reserve

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South Korean Hana Bank and BitGo to launch joint crypto custody venture

Hana Bank and BitGo are expected to launch a crypto custody service in the second half of 2024. Hana Bank is interested in having tokenized deposit technology replace central bank digital currencies and private stablecoins.

2023-9-5 13:06	South Korea
bank hana crypto launch custody bitgo technology

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Stablecoins Can Provide an Escape From High-Inflation Currencies: Brevan Howard Digital

Usage has shown a low correlation with crypto exchange volumes, which suggests that significant stablecoin transaction volumes are likely being used for non-speculative purposes, the report said.

2023-9-1 15:05	Inflation
volumes stablecoin transaction significant suggests likely being

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BlockFi Seeks Permission To Convert Trade Only Assets To Stablecoins In Latest Court Petition

Bankrupt digital asset lender BlockFi has filed a court petition requesting permission to convert the Trade Only assets of its users to stablecoins, thus allowing the withdrawal of these tokens. This development marks the company’s latest effort to repay its creditors.

2023-8-31 04:00
court latest blockfi stablecoins petition convert trade

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Stablecoin volume outpaces Mastercard, PayPal as digital payments wars loom

Fiat-backed stablecoins have eclipsed Mastercard and PayPal in moving more value across their networks in 2022, according to a Bloomberg Intelligence note on Aug. 25. According to Bloomberg Intelligence crypto market analyst Jamie Coutts, stablecoins on several Layer-1 networks transacted $6.

2023-8-25 14:55	#tokens
intelligence stablecoins bloomberg mastercard networks paypal according

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FTX engages Galaxy Digital to oversee, sell, and hedge its crypto assets

Bankrupt exchange FTX wants to hire Mike Novogratz’s Galaxy to assist with selling, staking, and hedging its crypto assets. The proposed agreement would see Galaxy managing and trading certain digital assets owned by FTX to convert them into fiat currency or stablecoins.…

2023-8-24 16:31	mike novogratz
assets ftx galaxy crypto digital trading certain

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Australia CBDC Could Complement Rather Than Replace Crypto

Australia's CBDC pilot reveals synergies crypto could benefit from, including CBDC-backed stablecoins and a robust framework for categorizing digital assets. The post Australia CBDC Could Complement Rather Than Replace Crypto appeared first on BeInCrypto.

2023-8-23 13:30
crypto australia could cbdc replace complement rather

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Stablecoins stare at another disappointing month - why?

USDT's market cap dropped by 0.62% to $83.3 billion in August. The progress made by countries on CBDC posed another headache for stablecoins. Stablecoins are the backbone of the digital asseThe post Stablecoins stare at another disappointing month - why? appeared first on AMBCrypto.

2023-8-17 15:30	Stablecoins
stablecoins another disappointing month stare posed headache

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First Digital USD soars on Binance as overall stablecoin market sinks to two-year low

The total market cap of stablecoins has been on a continuous decline for 17 months, now standing at $124 billion, its lowest level since August 2021, according to CCData. The data aggregator highlighted a broader impact of the decline in stablecoin’s monthly trading volume.

2023-8-17 20:50	USDT
stablecoin market decline 2021 124 august according

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Bank of America: Paypal Stablecoin (PYUSD) Immediate Adoption Might Be Subdued

Coinspeaker Bank of America: Paypal Stablecoin (PYUSD) Immediate Adoption Might Be Subdued The introduction of PayPal stablecoin (PYUSD) represents a groundbreaking development in the realm of stablecoins and digital currencies.

2023-8-14 17:32	StableCoin
pyusd stablecoin paypal subdued bank might immediate

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PayPal ventures into stablecoins with launch of PYUSD

PayPal has introduced its stablecoin, PayPal USD (PYUSD), marking its latest foray into digital currency. A global payment platform PayPal launched its own stablecoin on August 7, PayPal USD (PYUSD), making it the first large financial company to do so.…

2023-8-7 18:48	StableCoin
paypal pyusd usd stablecoin making august own

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PayPal stablecoin PYUSD launches on Ethereum

In a move signaling the significant shift towards digital currencies, PayPal has announced the launch of its U. S. dollar-backed stablecoin – PayPal USD (PYUSD). This development, announced by PayPal directly, adds a new dimension to the emerging potential of regulated, fully-backed stablecoins in transforming payments in digitally native environments like web3.

2023-8-7 17:07	Stablecoins
paypal pyusd announced stablecoin potential emerging new

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Tether (USDT) Begins to Exploit Circle’s Reserves, Analyst Reports: USDC Might Be Losing the Stablecoin Battle

The world of stablecoins, digital currencies pegged to stable assets like the US dollar, has been in a state of flux. With the rise of decentralized finance (DeFi) and the increasing prominence of stablecoins, understanding the underlying mechanics and strategies of major players is crucial.

2023-8-7 14:05	Latest News
stablecoins rise crucial flux state decentralized defi

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US House Committee Moves Forward on Legislation Covering Stablecoins, Digital Assets and More

The House Financial Services Committee has approved seven pieces of legislation, signaling a major revamp in how digital assets, ESG impacts and small business lending data collection are regulated in...

2023-7-28 17:32	News
assets legislation digital committee house major impacts

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‘Historic week’ as stablecoin, self-custody bills advance to House floor

The bills aim to create a regulatory framework for payment stablecoins and enshrine rights for crypto users to self-custody digital assets.

2023-7-28 06:51
self-custody bills stablecoins payment enshrine crypto assets

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South Korean Private Banks Explore Alternatives To Private Stablecoins And CBDCs

In South Korea, numerous private banks are actively researching tokenized deposit technology as a viable alternative to both private stablecoins and central bank digital currencies (CBDCs). Top banks in the region have shown considerable interest in certificates of deposit (CDs)- which refer to tokenized bank deposits that are placed on the blockchain. CDs serve as […]

2023-7-25 21:00
private banks bank tokenized south deposit cbdcs

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Crypto Oversight: G20 Recommends Regulating Digital Assets, Stablecoins

The G20 nations have witnessed a significant development in global regulation for cryptocurrencies. On Monday, the Financial Stability Board, an international body supported by the Bank for International Settlements and consisting of representatives from all G20 economies, unveiled a comprehensive regulatory framework, marking a noteworthy milestone in the regulation of cryptocurrencies worldwide. Although lacking formal […]

2023-7-18 16:20
g20 regulation cryptocurrencies international economies all representatives

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Crypto High Risk Appetite Noticed Among Investors as They Convert Stablecoins Fast Now

Analyst has shared recently published data about stashes of stablecoins being quickly converted into the following digital assets

2023-7-12 16:00
stablecoins stashes published data being quickly digital

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China Should Consider Yuan-Backed Stablecoins Instead of CBDCs, Circle's Allaire Says

Circle CEO Jeremy Allaire touted the advantages of stablecoins over central bank digital currencies (CBDC), in an interview with South China Morning Post.

2023-7-11 09:08
allaire china stablecoins circle currencies cbdc digital

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BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’

A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.

2023-7-11 00:30
money digital enhanced crypto finality settlement singleness

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Stablecoins Volume Down Despite Crypto Market Recovery, Ratings Agency Finds

Stablecoins, the digital assets designed to maintain a stable value, have long been viewed as a potential bridge between the cryptocurrency world and the traditional financial industry. However, recent developments have cast a shadow of uncertainty over their perceived stability.

2023-7-5 11:50
stablecoins financial bridge industry traditional cryptocurrency however

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Singapore Financial Regulator Releases Whitepaper On Design Considerations for Digital Money

The Monetary Authority of Singapore (MAS) has proposed a common protocol for the use of digital money, such as central bank digital currencies (CBDCs), tokenized bank deposits, and stablecoins on a distributed ledger.

2023-6-30 16:14	Ethereum News
digital bank singapore money distributed stablecoins central

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Developer Six Clovers Rolls Out Cross-Border Crypto Payments on Sui

Versal Network will allow companies to transact in stablecoins and central bank digital currencies.

2023-6-30 16:00	Web3
transact companies allow stablecoins currencies digital bank

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Hongkong Gets More Attention, Now From Circle Stablecoin Issuer: Implications

Circle Internet Financial Ltd., a US-based stablecoin issuer, is closely monitoring the regulatory developments in Hong Kong following the implementation of new crypto rules. Circle CEO Jeremy Allaire expressed the company’s interest in Hong Kong as it aims to establish itself as a prominent hub for digital assets markets and stablecoins. Allaire’s remarks came during […]

2023-6-27 10:30	Hong Kong
circle kong hong allaire stablecoin issuer establish

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MUFG may issue stablecoin via Progmat blockchain platform

Mitsubishi UFJ Financial Group Inc. is currently in negotiations with several businesses about issuing stablecoins, a form of digital asset, through its blockchain platform Progmat.

2023-6-23 19:13	StableCoin
blockchain progmat platform issuing businesses several stablecoins

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SAP opens testnet registration for cross border payments in stablecoins

The German enterprise software firm SAP has launched a preview of its Digital Currency Hub (DCH) system, enabling cross-border payments using USDC and EUROC. Issued by payment technology firm Circle, the USDC and EUROC stablecoins are pegged 1-to-1 with the dollar and euro.

2023-6-23 11:51	Stablecoins
stablecoins firm euroc payments usdc sap issued

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Crypto Regulation In The Spotlight: U.S. House Committee Prepares For Key Vote

The U. S. House Financial Services Committee is set to vote on new legislation regulating digital assets, including cryptocurrencies and stablecoins. The proposals are scheduled to be debated in the second week of July.

2023-6-22 04:00	Regulation
vote committee house proposals stablecoins cryptocurrencies debated

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Fed Chair Powell: ‘we do see payment stablecoins as a form of money’

Powell testified before the House Financial Services Committee today. He discussed a range of topics around digital assets on Wednesday. Bitcoin surpassed the $30,000 level today for the first in two months.

2023-6-22 22:34
today powell wednesday bitcoin assets topics around

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Singapore MAS proposes digital money standards with major industry players

The Monetary Authority of Singapore, with input from major tech giants, released a whitepaper on the standards for digital money usage such as CBDCs and stablecoins.

2023-6-21 17:13	Singapore
major singapore standards money digital whitepaper usage

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Lack of bipartisan support on crypto regulation could make US ‘less attractive’ to firms: Moody’s

A report from the investors’ service pointed to a political divide in language on bills concerning stablecoins and providing a comprehensive framework for digital assets.

2023-6-21 23:30	Politics
pointed bills language divide concerning political digital

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Bitcoin, Ether and Stablecoins Total 80% of $1T Crypto Market Cap as Investors Flee Altcoins

The combined market capitalization of BTC, ETH and stablecoins reached the highest since February 2021, digital asset research firm K33 Research noted.

2023-6-14 19:03	Altcoins
market research stablecoins february 2021 highest reached

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Reserve Bank of Australia: Stablecoins can play an important role in the financial system

Stable digital coins can play an important role in the Australian economy and financial system. This is stated in the new report of the Reserve Bank of the country (RBA). “The activity of stablecoins in Australia has been relatively limited to date, although stablecoins may play a more prominent role in the financial system in […] Сообщение Reserve Bank of Australia: Stablecoins can play an important role in the financial system появились сначала на Coinstelegram.

2023-6-7 18:40	News
financial play system role stablecoins reserve bank

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RBA evaluates regulatory framework for stablecoins and CBDCs

The Reserve Bank of Australia recently released a report discussing the potential of stablecoins and CBDCs, highlighting the importance of regulatory mechanisms for digital assets.

2023-6-6 23:04	Regulation
cbdcs regulatory stablecoins discussing potential highlighting digital

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U.S. House Republicans Push for Crypto Oversight With Bill to Make SEC Play Ball

Crypto exchanges would gain a path to registering with the U.S. Securities and Exchange Commission (SEC) and would be able to trade digital securities, commodities and stablecoins all in one place under a proposal from the Republican chairs of the two House of Representatives committees trying to hash out a bill.

2023-6-3 21:00
house sec bill securities crypto proposal one

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Lebanese turn to cryptocurrency amidst inflation-triggered economic turmoil

Reports suggest Lebanese are shifting their attention to digital coins, specifically stablecoins, as the nation suffers a financial turmoil. Meanwhile, the government closed local banks early this week, citing the current risks for customers and employees.

2023-5-20 11:15	StableCoin
lebanese turmoil closed local banks meanwhile financial

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Highlights from Financial Service Committee hearing on stablecoins

The Digital Assets Financial Technology Inclusion Committee held a hearing on May 18 to discuss stablecoin policy. In opening the meeting, Congressman French Hill said it is the committee’s aim to put through legislation supporting stablecoins as a recognized payment method.

2023-5-19 00:52	Stablecoins
committee stablecoins hearing financial french said hill

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U.S. Hearing Highlights Stablecoin Rift in Competing House Bills

U.S. lawmakers aren’t yet able to reach across the chasm between Republicans and Democrats’ very different ideas for how to oversee stablecoins, despite notes of hope from both sides evident in a Thursday hearing of the House Financial Services Committee’s digital assets panel.

2023-5-19 19:45	Congress
house hearing hope oversee notes despite stablecoins

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Do Kwon allegedly withdraws $2.15m in stablecoins

After being granted bail by a court in Montenegro, Terra co-founder Do Kwon reportedly removed digital assets worth around 2.8 billion won ($2.15 million), according to several reports from South Korean media agencies.

2023-5-18 17:29	Terraform Labs
kwon million won around worth according billion

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Authorities crack down on Austria-based online crypto scam

Authorities in Austria, along with counterparts in three other nations, have taken decisive action against an online scam masquerading as a new cryptocurrency venture. In a press release on May 8, the European Justice for Criminal Justice Corporation disclosed the…

Belgium leads charge to renew EU blockchain infrastructure project

The Belgian government has announced plans to expedite the development of a European blockchain infrastructure during its EU Council presidency in early 2024. The proposal aims to enhance the secure management and storage of official documents, including driving licenses and…

EU banking watchdog proposes liquidity rules for stablecoin issuers

The proposed guidelines are currently in the public consultation phase for the next three months and, if approved, will come into effect starting in June 2024.

How major German firms like Mercedes and Lufthansa are using NFTs

German brands embrace NFTs, exploring new ways to engage with customers and build brand loyalty.

Greece establishes AI advisory committee to create national strategy

The Greek prime minister created an AI advisory committee comprising some of the country’s top tech, ethics and science professionals.

UK to target potential AI threats at planned November summit

The summit scheduled for Nov. 1–2 will place significant emphasis on the potential existential threat that AI represents, a concern shared by several legislators.

2023-12-3 23:05

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