Search results: Stablecoin

New legislation aims to enhance financial stability by imposing strict rules on stablecoin issuers.

Ripple’s upcoming stablecoin targets enhanced market transparency and compliance.

Agora’s AUSD stablecoin launch attracts $12M in seed funding, signaling strong market confidence.

Cardano’s new USDM stablecoin, developed by Mehen Finance, is slated for a retail rollout in April.

Tether’s USDT stablecoin reaches a market capitalization milestone.

The UK’s crypto hub dream is coming to life while some attendees of Apefest 2023 in Hong Kong complaint on severe eye pain post-event.

The proposed guidelines will work as a liquidity stress test for stablecoin issuers, according to the EBA.

The joint study aims to create the infrastructure for issuing regulatory-compliant stablecoins for improved cross-border settlement.

The artificial intelligence service is designed to predict the depegging of stablecoins in 24-hours.

The central bank expects to release the final set of regulations by 2025.

PayPal said that it is collaborating with the SEC’s request.

The U.K. intends to introduce rules on fiat-backed stablecoins in early 2024, according to the government’s latest cryptocurrency policy update published on Monday.  See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast Facts See related article: Blockchain tech in Thailand gets boost from new pro-crypto lead

Taproot Assets will “accelerate the process of bringing Bitcoin to those billions of people,” according to Lightning Labs.

Mitsubishi UFJ and Binance Japan will collaborate on the issuance of fiat-pegged stablecoins.

PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.

It has been more than a year since Nepal’s central bank, the Nepal Rastra Bank, initiated amendments to the law to enable the issuance of the digital version of the Nepalese rupee. What is the status of its CBDC?

Mitsubishi UFJ Trust and Banking Corporation and Web3 developer Ginco Inc. have partnered to introduce what they call Japan’s first “crypto asset trust.”

Tether, the issuer of the world’s largest stablecoin USDT, announced on Thursday that it will discontinue support for its flagship stablecoin, on three blockchains, Kusama, Bitcoin Cash SLP (Simple Ledger Protocol) and Omni Layer. 

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.

Bitcoin rose on Wednesday morning in Asia to trade above US$29,700. Ether also logged gains along with all other top 10 non-stablecoin cryptocurrencies.

Paypal, the California-based online payments giant, announced Monday that it is launching an Ethereum blockchain-based stablecoin pegged to the U.S. dollar.

Bitcoin edged up on Tuesday morning in Asia after U.S. multinational payment giant PayPal launched a U.S. dollar-pegged stablecoin on Monday.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

Circle Singapore said Wednesday it has received a Major Payment Institution license from the Monetary Authority of Singapore.

MUFG, Japan’s leading bank, is pioneering the crypto industry by supporting stablecoin issuance on the Progmat Coin platform, offering an alternative route for entry and exit in the volatile cryptocurrency market.

Tether, the issuer of the world’s most traded stablecoin, will invest in power generation and Bitcoin mining in Uruguay to tap the country’s renewable energy resources, the company said on Tuesday.

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

A hacker took advantage of an old contract from Yearn Finance on Thursday to steal US$11.6 million in stablecoins.

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.

Three major banks in Japan will issue stablecoins on an Ethereum-compatible blockchain created by the blockchain-related tools developer G.U. Technologies.

Bitcoin and Ether rose in Thursday morning trading in Asia, along with all top 10 non-stablecoin cryptocurrencies. Polygon led the gains.

Coinbase, the world’s second largest cryptocurrency exchange, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13.

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday.  See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]

Bitcoin was the only top 10 non-stablecoin cryptocurrency to gain in Tuesday morning trading in Asia in a market unsettled by regulators in the U.S. targeting digital asset companies.

Paxos Trust Company has been ordered by the New York Department of Financial Services (NYDFS) to stop issuing the U.S. dollar-pegged Binance USD (BUSD) stablecoin

The U.S. SEC may sue the Paxos Trust Company for allegedly violating investor protection laws in its issue of the Binance USD (BUSD) stablecoin.

Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).

Djed, a Cardano-based algorithmic stablecoin, has collected over US$10 million in its reserves within the first 24 hours since it was launched on Wednesday.

The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.

2023 looks to be the year of stablecoin regulation, but will that be enough to recover its market?

Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.

The Universal Digital Payments Network (UDPN), which aims to offer interoperability between regulated stablecoins and CBDCs, was launched today at the World Economic Forum in Davos.

National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report. 

Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.

FTX’s collapse triggered a stablecoin sell-off, but we will need them to survive the Crypto Winter, writes Vladimir Gorbunov of Choise.com.

Hong Kong should make efforts to encourage the establishment of virtual assets rating agencies, and consider developing the e-HKD, the city’s central bank digital currency in the works, into a stablecoin, a Hong Kong lawmaker said in a recent media interview.

A downward spiral of an algorithmic stablecoin was the beginning of the cryptocurrency industry’s troubles in 2022. Former Mt.Gox CEO Mark Karpelès says that the stablecoin drama is not over.

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.

Binance, the world’s largest cryptocurrency exchange, announced at 12:54 a.m. on Wednesday in Hong Kong that USDC stablecoin withdrawals have resumed.

The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.

Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.

Tether, the world’s largest stablecoin provider, will include the CNHT stablecoin on Justin Sun’s Tron network.

Can crypto and stablecoins be used to pay employees across borders as remote working becomes more popular?

The Bank of Korea (BOK) claimed it needs the authority to monitor and supervise stablecoins, according to the South Korean central bank’s report published on Monday.

Bitcoin and Ether strengthened in Asian trading on Wednesday afternoon, with Ether the biggest gainer among top 10 non-stablecoin cryptocurrencies that also generally increased.  See related article: Diverging paths of two CEOs running FTX’s Alameda Research may meet again in court  Fast facts See related article: Dominica releases ‘world’s first national’ crypto token with Huobi, […]