STABLECOIN
A stablecoin (or stable coin), as its name indicates, is a stable cryptocurrency designed to be resistant to the type of price volatility synonymous with cryptocurrencies like Bitcoin and Ether. The key is to understand "stable": what is "stable"? which references are pegged to make its value "stable"? In terms of what we measure the "stability".
The Financial Stability Board (FSB) is pushing for international regulations
Global standard-setting organisations are helping the Financial Stability Board evaluate DeFi legislation in numerous countries.
LidoDAO is considering selling or staking its $30 million
LidoDAO, the decentralized autonomous organization behind Lido, is considering staking or selling its $30 million ETH treasury to meet unexpected market swings.
Circle Denies Receiving 'Wells Notice' Over USDC
Circle's CSO refused SEC Wells notices for its USDC token.
BUSD, Paxos, and the Recent Scrutiny of Paxos
Matrixport's director of research believed Paxos' BUSD supervision was too lax, prompting regulatory attention. Stablecoins are not the goal.
Binance sees surge in withdrawals amid spooked investors
Investors have pulled billions from Binance in the past day due to US Securities and Exchange Commission and New York Department of Financial Services action against BUSD and Paxos.
Paxos Trust Company Disagrees With U.S. Securities
Paxos, a stablecoin issuer, received an SEC Wells notice earlier this month and "categorically denies" that BUSD is a securities.
Tether Holdings Hires Major Wall Street Firm to Manage Treasury Portfolio
Tether has recruited a Wall Street company to handle its Treasury holdings.
Tether Completes Reserves Attestation by Major Global Accounting Firm
BDO, a global accounting company, has attested Tether's reserves.
South Korean Officials Confirm They Sent Team to Serbia to Find Do Kwon
South Korean authorities have increased their search for Do Kwon and deployed state officials to Serbia.
The UK is a step closer to launching a central bank digital currency
The Bank of England thinks crypto stablecoins and a central-bank-issued "digital pound" might coexist.
U.K. Treasury Proposes Ambitious Crypto Regulations
The UK Treasury labelled algorithmic stablecoins "unbacked crypto assets" rather than banning them.
Tether Denies Receiving Any Loans From Celsius
Tether's chief technical officer Paolo Ardoino denied borrowing from Celsius in response to Celsius' examiner report.
HKMA Stablecoin Regulations to Demand Backing by Underlying Assets
The main financial regulator will require stablecoin issuers to always back their values with reserve assets.
Cardano's New Algorithmic Stablecoin DJED
ADA, Cardano's native token, backs the algorithmic stablecoin, which is tied 1:1 to the US dollar.
Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin
Two UK firms employ ATM stablecoins to make Britain a "crypto centre."