What is stablecoin? In terms of what we measure the "stability". Understand stablecoin in different features. Central Bank Digital Currency (CBDC)
More DetailsBinance and Bitpay have partnered to enable consumers and merchants to access Binance stablecoin.
More DetailsCanada Stablecorp Inc. has launched a new regulated Canadian Dollar stablecoin called “QCAD”.
More DetailsThe Global Currency Organization (GCO) has launched a new USDD token, a US dollar-backed stablecoin, intended for revenue sharing in institutions.
More DetailsThe OCC announced that national banks and federal savings associations could hold reserves for customers with stablecoin assets.
More DetailsThe Bank of Thailand is warning citizens against using the illegal THT stablecoin.
More DetailsTether, a reputable stablecoin provider, has incorporated its U.S. dollar-backed stablecoin USDT into Algorand’s blockchain ecosystem. Tether’s presence on Algorand will facilitate block confirmation in less than four seconds and transaction fees will be a fraction of a cent.
More DetailsRyan Watkins, a researcher at Messari, believes that the numerous stablecoin protocol experiments on the Ethereum network are impressive.
More DetailsReported in late August, Tether had made plans to add a new stablecoin pegged to the Chinese Yuan, named “CNHT.”
More DetailsTether has been reportedly working on a new stablecoin pegged to the Chinese Yuan. The stablecoin project named “CNHT” came from the intention of Zhao Dong, one of the shareholders of the Bitfinex crypto exchange.
More DetailsUS lawmakers have introduced a new bill to Congress seeking to impose federal control over the entire stablecoin industry and would mandate issuers to secure bank charters.
More DetailsPickle Finance becomes the latest DeFi Protocol to suffer from hacking, losing almost $20 million in DAI stablecoin.
More DetailsThe Financial Stability Board (FSB) has published a comprehensive report outlining key recommendations for the regulation, supervision, and oversight of global stablecoin (GSC) arrangements. The report aims to address potential financial stability risks posed by GSCs at both the domestic and international level.
More DetailsBinance launches a dual-incentive promotional campaign for USDC-margined perpetual contracts, targeting deposits and trading activities to stimulate market engagement and diversify trading options in the crypto futures market.
More DetailsCircle's CSO refused SEC Wells notices for its USDC token.
More DetailsPaxos CEO Charles Cascarilla said the business was "engaged in productive negotiations" with the SEC and will continue to communicate privately.
More DetailsThe UK announced to accept stablecoins as a valid form of payment and has set plans to make Britain a global hub for cryptoasset technology and investment.
More DetailsAccording to SCMP, despite the stringent ban on cryptocurrencies in mainland China, Jeremy Allaire, the co-founder and CEO of Circle, a leading operator of the USDC stablecoin, foresees a significant role for yuan-backed stablecoins in the global crypto market.
More DetailsRussia used to resist legalizing crypto. However, it is now willing to embrace the use of cryptocurrency for cross-border payments due to geopolitical tensions.
More DetailsChristine Lagarde, the president of the European Central Bank (ECB), has highlighted that stablecoins could pose a serious threat to monetary sovereignty and financial stability.
More DetailsMoneyGram has partnered with Stellar Development Foundation to enable customers to make settlements in different fiat currencies including cryptocurrencies using USDC stablecoin.
More DetailsThe Federal Reserve Bank is involved in a large-scale research and development regarding digital dollar, says Chairman Jerome Powell.
More Detailsave's Q2 2023 report shows a 9% growth in total value supplied, outpacing the market. Key developments include the launch of GHO stablecoin, a rise in stETH deposits, and the anticipated release of Portals.
More DetailsThe Hong Kong Monetary Authority (HKMA) has published a discussion paper in which it is soliciting the public’s contributions to its proposed regulatory approach to digital currencies and stablecoins.
More DetailsIn pursuit of becoming a global crypto hub, Britain seeks to revamp the traditional financial market using distributed ledger technology (DLT), according to the finance ministry.
More DetailsCircle has introduced a new pre-mint address for USDC on the Solana blockchain, streamlining operations in anticipation of the Cross-Chain Transfer Protocol launch.
More DetailsBinance CEO Changpeng Zhao responded to a Forbes article that focused on the movement of funds by the cryptocurrency exchange. The article drew parallels between Binance and the now-defunct FTX and discussed the failed Voyager bid by Binance.US, as well as the United States Securities and Exchange Commission’s planned legal action against Paxos Trust Company, the issuer of the Binance-branded stablecoin, Binance USD (BUSD). Binance transferred $1.8 billion in stablecoin collateral to hedge funds such as Tron, Amber Group and Alameda Research between August and December 2022. Binance says it still supports BUSD and is now looking into non-USD stablecoins.
More DetailsThe move by Circle to involve in launching its Euro stablecoin is based on user demand and business competition. The use of euro-backed stablecoins is rising in Europe.
More DetailsPaxful, the leading peer-to-peer Bitcoin trading platform, announced that it will be adding stablecoin Tether to its crypto payment options.
More DetailsSingapore's MAS releases a regulatory framework for stablecoins after public consultation in 2022. It aims to ensure value stability and sets key requirements for issuers.
More DetailsAmerican insurance company Lemonade has revealed the formation of Lemonade Crypto Climate Coalition which will offer blockchain-enabled climate insurance to the most vulnerable farmers across the globe.
More DetailsA new report from the Bank for International Settlements has advocated the deployment of ‘Embedded Systems’ in the monitoring of global stablecoin projects.
More DetailsBanking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail
More DetailsNovatti Group has announced it will be integrating its new stablecoin, AUDC with the XRP Ledger following a partnership with blockchain payments firm, Ripple Labs Inc.
More DetailsThe Financial Stability Oversight Council (FSOC) of the US Treasury Department has released its annual report with a crucial warning of digital assets disruption.
More DetailsTether Holdings Ltd, the firm known for the issuance of the world’s largest stablecoin, USDT has tapped the Italian branch of Binder Dijker Otte (BDO), the fifth biggest public accounting firm to help in the handling of its assurance and attestation processes
More DetailsCircle, the company behind USD Coin (USDC), has bagged funding worth $400 million from different players, including Fidelity Management, BlackRock Inc, and Research LLC, signalling traditional finance interest in the crypto space.
More DetailsRipple CEO Brad Garlinghouse predicts the approval of an Ether ETF by the SEC, critiquing the commission's approach under Gary Gensler as a political liability and detrimental to the U.S. economy's growth.
More DetailsThe Monetary Authority of Singapore wants crypto service providers to avoid issuing credits for consumers to trade crypto
More DetailsPaolo Ardoino, CTO of Tether gives his take on the Decentralized Finance DEFI Ecosystem in Asia standing on the cusp of a global digital banking revolution.
More DetailsCiara Sun, Head of Global Business Development & Partnerships at Huobi Group, has a wealth of experience in financial analysis, strategic consulting and corporate management from her previous roles with prestigious enterprises such as Boston Consulting Group, Deloitte Consulting and Ernst & Young. Sun sat down with Blockchain.News at the Blockshow Asia 2019 to discuss Huobi’s rising profile, China’s decentralized economy and what she considers fair metrics for ranking exchanges.
More DetailsIran and Russia are planning a gold-backed cryptocurrency. In Astrakhan, Russia began accepting Iranian goods, a stablecoin would function. Instead of utilizing dollars, rubles, or rials, the initiative would allow cross-border transactions.
More DetailsThe Innovation Center of the Federal Reserve Bank of New York (NYIC) has successfully completed its proof-of-concept of a regulated liability network (RLN), which was carried out in collaboration with nine significant financial institutions and the Swift network.
More DetailsThe new stablecoin project has no connection with the Bank of Russia’s digital ruble. The stablecoin will be pegged to ruble fiat currency.
More DetailsThe plans to compensate affected Terra users is still far from reality.
More DetailsMessari boldly suggests that after Dai’s market cap surged by 15x this year, due to DeFi, the stablecoin’s market cap could double by the end of next year
More DetailsThe instability of the UST stablecoin has pushed the United States Treasury Secretary, Janet Yellen, to advocate for introducing a tighter regulatory framework to govern the entire stablecoin offshoot of the crypto ecosystem.
More DetailsAddresses associated with FTX and its subsidiary, Alameda Research, have reportedly transferred $145 million in stablecoins to various platforms, as the cryptocurrency exchange faces demands to return funds to different groups of investors amid ongoing investigations and lawsuits.
More DetailsThe Bank of England thinks crypto stablecoins and a central-bank-issued "digital pound" might coexist.
More DetailsInvestors 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.
More DetailsDeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, has announced the debut of the Euro-backed stablecoin Euro Coin (EUROC) on its native blockchain. DeFiChain is one of the first blockchains to fully integrate a Euro-backed stablecoin.
More DetailsThe Bitcoin community watched from the edge of their seats as the BTC price briefly sank below to $3,900 before rebounding to between $5,300 and $5,500 in less than 30 minutes this morning.
More DetailsFacebook is now considering developing a system of digital tokens, pegged to different government-issued currencies including the US dollar and the euro. The new plan will still include Libra, although Libra Association, separately, will continue its work on the stablecoin pegged to a basket of global currencies.
More DetailsOn March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's decentralized exchange aggregator. Tron founder Justin Sun reportedly withdrew 82 million USDC and exchanged them for Dai (DAI) using Aave v2, while IOSG Ventures sold 118.73 million USDC for 105.67 million USDT and 2,756 Ether (ETH). The USDC price has since slowly recovered, and Circle, the company behind USDC, disclosed holding $3.3 billion at the Silicon Valley Bank.
More DetailsTerraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin. The motion urges disclosure of trading strategies between March and May 2022, amidst indications of Citadel Securities' alleged intentions to short UST. Terraform Labs stresses the documents' importance in countering the SEC's fraud allegations, proposing a transfer to another court for a decision if necessary.
More DetailsTether has recruited a Wall Street company to handle its Treasury holdings.
More DetailsVisa is rolling out a new interoperability feature facilitating digital currency payments among different parties. Visa aims to establish a bridge payment between digital currencies on the blockchain ecosystem.
More DetailsBrazilian investment bank BTG Pactual has launched its own stablecoin, BTG Dol, which is pegged to the value of the US dollar on a 1:1 ratio. The stablecoin will allow customers to "dollarize" a portion of their equity and will facilitate interaction between traditional finance and the digital economy.
More DetailsCircle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered.
More DetailsThe United States Commodity and Futures Trading Commission (CFTC) held a meeting earlier this week to study the potential impact of the stablecoin industry. The derivatives regulator met with stablecoin industry experts to understand its future implications.
More DetailsCircle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo's shared mission of increasing financial access.
More DetailsThe cryptocurrency landscape in Latin America, particularly in Argentina and Venezuela, is evolving as a mechanism to counter economic and political adversities. While Argentina sees crypto as a bulwark against economic instability, Venezuela is utilizing it as a tool for humanitarian aid and resistance against authoritarianism. The divergent crypto adoption narratives in these nations underscore the asset class's potential to address complex societal challenges.
More DetailsAcala Network's stablecoin was depegged from the dollar mark on Sunday following a breach. A vote was proposed to pause operations on Acala after it noticed configuration issues regarding the Horizon protocol, which affects its stablecoin aUSD.
More DetailsRobinhood has adopted the second-largest stablecoin for trading transactions.
More DetailsThe proposals presented by the British finance ministry are aimed to mitigate risks related to stablecoins amid the recent TerraUSD de-pegging fiasco.
More DetailsChinese officials to consider a cross-border stablecoin in Hong Kong, to facilitate a cross-border payment network between three Asian countries, and four currencies China, Japan, and South Korea. The world’s second-largest economy is aiming to build Hong Kong into an international financial center in the digital economy era. At China’s annual “Two Sessions,” also known as the National People’s Congress, China’s most important annual political event in Beijing, officials set the decision to impose new national security legislation on Hong Kong.
More DetailsCircle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.
More DetailsThe Financial Stability Board (FSB) has announced its 2024 Work Programme, focusing on crypto regulation, AI, and digital innovation, aiming to enhance global cooperation and stability in finance.
More DetailsThe Governor of the Federal Reserve, Lael Brainard warned a European Central Bank (ECB) forum in Germany, that the risks posed by the potential mainstream adoption of the Facebook proposed stablecoin Libra, are too immense.
More DetailsFederal Reserve Governor Michelle Bowman, in a discussion at Harvard Law School, explored the evolving digital payment landscape, touching on CBDC, stablecoins, and the necessity for a robust regulatory framework. While recognizing the potential of digital assets, she emphasized a cautious approach, underscoring the importance of continued research and international collaboration to navigate the digital transformation responsibly.
More DetailsDo Kwon, co-founder of Terraform Labs, has defended himself against allegations of fraud from the US Securities and Exchange Commission (SEC). Kwon’s lawyers have requested the dismissal of the lawsuit, claiming that the SEC's allegations are unfounded and that US law prohibits regulators from asserting jurisdiction over the digital assets in question. The lawyers also argued that the SEC failed to prove Kwon’s involvement in the collapse of Terra’s stablecoin, UST.
More DetailsCoinGecko's Q1 2023 Crypto Industry Report shows Bitcoin as the best-performing asset, with a gain of 72.4%. DeFi and NFTs have also surged, while stablecoins saw a drop in market cap due to Binance USD shutdown and USDC depeg. The overall market capitalization reached $1.2 trillion at the end of Q1.
More DetailsThe U.K. Chancellor of the Exchequer, Jeremy Hunt, laid out a number of reforms aiming to "drive growth and competitiveness" to the country's financial services sector. The reforms include consulting on proposals for the establishment of a central bank digital currency (CBDC), extending a crypto tax break for investment managers and creating a sandbox that lets firms and regulators test new technologies.
More DetailsThe growth of the DeFi industry has led to an explosive increase in popularity in Ethereum-compatible stablecoins.
More DetailsWhere is Tether keeping its stablecoin reserve? A Bloomberg reporter has asked this and many more questions. Tether fires back as the allegations are made.
More DetailsVisa has expanded its stablecoin settlement capabilities, incorporating the Solana blockchain and initiating pilot programs with merchant acquirers Worldpay and Nuvei. The move aims to modernize cross-border money movement by leveraging stablecoins like Circle's USDC. Visa has conducted live pilots, transferring millions of USDC between partners over Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized via VisaNet. The new settlement options enable Visa to send funds on-chain to acquirers like Worldpay and Nuvei, serving various sectors.
More DetailsFSB finalizes a global regulatory framework for crypto assets, aiming for consistent regulation. The framework includes high-level recommendations for crypto-asset activities and stablecoins.
More DetailsThe Dai (DAI) stablecoin reached the protocol’s built-in debt ceiling of 100 million as there has been 100 million Dai tokens minted. The nearly two-year-old stablecoin project had an original debt ceiling of 50 million, which was raised to 100 million in July 2018.
More DetailsIndian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.
More DetailsShin Hyun-seong, co-founder of Terraform Labs, has been indicted along with nine other individuals for the collapse of the Terra stablecoin ecosystem. They are accused of fraud, breach of trust, and embezzlement, with illicit profits of nearly $350 million suspected. Prosecutors have seized assets worth a total of $180 million.
More DetailsTether rebuts a UN report accusing USDT of facilitating illicit activities, underscoring its traceability and law enforcement collaboration, and highlighting USDT's positive impact on developing economies.
More DetailsAlthough Meta Inc said it will end the Novi digital Wallet, the firm plans to continue executing its existing fintech goals to boost greater financial inclusion as it looks ahead to the metaverse.
More DetailsOn-chain activity for stablecoins has surged over the last year, increasing by 800% according to the latest market intelligence, but could the increase in stablecoin issuance create inflation in the cryptocurrency markets as past allegations against Tether and Bitfinex have suggest ?
More DetailsTether, the company renowned for powering the world's foremost stablecoin, announced today its ambitious venture into energy production and sustainable Bitcoin mining in Uruguay.
More DetailsThe United Kingdom’s Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research.
More DetailsEuropean Central Bank President Christine Lagarde has urged the ECB to take the lead regarding stablecoins, citing increased interests in the space from central banks in Britain, Canada, and China.
More DetailsAustralian central bank boss admits that private digital tokens could be better and their benefits will be enhanced if regulatory arrangements are made right.
More DetailsCircle is gearing up for 2020 with a renewed deep focus on stablecoins and the powerful potential they hold for people, enterprises, and governments globally.
More DetailsThe HKMA has announced the launch of a stablecoin issuer sandbox, a step forward for fintech innovation in Hong Kong, aligning with regulatory oversight.
More DetailsSingapore’s apex bank, the Monetary Authority of Singapore (MAS), is ramping up plans to open up discussions with the public for stablecoin regulations.
More DetailsJapan's Financial Services Agency (FSA) is trying to legalise stablecoin distribution. New 2023 legislation enable stablecoins like Tether (USDT) and USD Coin (USDC).
More DetailsMakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.
More DetailsFacebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner.
More DetailsIn a compelling testimony delivered to the House Financial Services Committee, Jeremy Allaire, CEO and Co-Founder of Circle, underlined the significant role stablecoins, such as the U.S. Dollar Coin (USDC), could play in strengthening the global position of the U.S. dollar.
More DetailsTwo UK firms employ ATM stablecoins to make Britain a "crypto centre."
More DetailsTether and Bitfinex have won a lawsuit against Shawn Dolifka and Matthew Anderson, despite allegations of misleading statements about USDT reserves, underscoring the importance of transparency in the cryptocurrency sector.
More DetailsA new draft bill has been published in the United States proposing a regulatory framework for stablecoins. The bill would put the Federal Reserve in charge of non-bank stablecoin issuers, such as Tether and Circle. Insured depository institutions seeking to issue stablecoins would fall under federal banking agency supervision. The bill also includes a ban on issuing stablecoins not backed by tangible assets and proposes a study on "endogenously collateralized stablecoins."
More DetailsDo Kwon, the CEO of Terraform Labs, believes hard forking the Terra blockchain will play an instrumental role in saving the troubled network.
More DetailsPaxos, a stablecoin issuer, received an SEC Wells notice earlier this month and "categorically denies" that BUSD is a securities.
More DetailsRussia is already working with several countries to establish clearing platforms for cross-border settlements of stablecoins, according to the state-backed TASS news agency.
More DetailsCrypto exchange BTSE has become the first to offer perpetual futures trading for the world's newest stablecoin- US Decentralized (USDD).
More DetailsCitizens Trust stated the USDC reserves would support financial literacy and small business funding.
More DetailsArgentina athlete Guido Cannetti of the world's leading mixed martial arts competition Ultimate Fighting Championship (UFC) announced that his salary will be paid in full in stablecoin USDC.
More DetailsThe FinTech Association of Hong Kong said that it is in principle supportive of the Hong Kong Monetary Authority's January discussion paper on crypto assets and stablecoins.
More DetailsThe death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request led to the depegging of its USD Coin (USDC). This event caused Binance CEO CZ to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.
More DetailsTether's wallet-freezing policy, in line with US OFAC regulations, is a proactive approach to cybercrime, setting a new standard in the crypto industry.
More DetailsThe issuance of Central Bank Digital Currency (CBDC) has been making airwaves with nations, such as China, leading the hype. The Bank of Mauritius, the central bank of the Republic of Mauritius, seeks to join this bandwagon based on an announcement that it wants to introduce a digital currency.
More DetailsAs payment systems, stablecoins are not securities, according to Circle's CEO.
More DetailsAccording to data from CoinMetrics, the total number of wallet addresses holding at least $1 million has topped 12 million.
More DetailsThe cryptocurrency market is constantly evolving. Among new investment methods, new technologies, and new cryptocurrencies altogether, these are some of the most prominent developments in 2020.
More DetailsJustin Sun, the founder of the Tron blockchain network, said that he has launched a USDD decentralized stablecoin pegged to the US dollar at a ratio of 1:1 through the Tron DAO Reserve.
More DetailsLeading DeFi protocol Yearn.finance has absorbed Pickle Finance to create a structure that will leverage shared expertise, boost specialization, and minimize work duplication.
More DetailsCircle's USDC stablecoin briefly de-pegged after news that $3.3 billion of its cash reserves were stuck with collapsed bank Silicon Valley Bank. USDC's dollar peg has since recovered, but mass redemptions have led to a drop in the stablecoin's market cap by nearly 10% since March 11.
More DetailsThe US House of Representatives Committee on Financial Services will conduct a hearing on stablecoin regulation on April 19th, following the introduction of a draft bill on stablecoin regulation. The hearing will include testimonies from experts, including Austin Campbell, a managing partner at Zero Knowledge Consulting and adjunct professor at Columbia Business School, who believes stablecoins will expand the reach of the US dollar and increase financial inclusion.
More DetailsThe closure of three major American banks that serve cryptocurrency firms, including Silicon Valley Bank and Signature Bank, has sparked debate within the cryptocurrency community. The closure of Silicon Valley Bank, which held over $3.3 billion of USD Coin issuer Circle's $40 billion reserves, has caused particular concern. As a result, the cryptocurrency ecosystem is now exploring neobank services and other options to bridge the gaps exposed by the latest mainstream banking failure.
More DetailsBlockchain infrastructure provider Paxos has published a report identifying opportunities for crypto projects during the current market conditions, including seeking solutions and partnerships. The report highlights the usefulness of stablecoins while acknowledging the need for greater transparency. Partnerships with businesses addressing real-world needs were also deemed important. The CEO of the Stellar Development Foundation suggested that regulating stablecoins may be necessary to maintain a strong dollar, while a recent Bank of International Settlements report deemed stablecoins a less preferable form of tokenized money.
More DetailsCircle Builds Layers of Simplicity over Complex Crypto Concepts for Business to Trigger Digital Adoption
More DetailsThe governor of the Bank of England, Andrew Bailey, shared his views on Bitcoin and said that the cryptocurrency “had no connection at all to money.”
More DetailsNew York-regulated stablecoin issuer, Paxos, launched its blockchain-based settlement platform, after announcing the service in late 2019. The new service enables settlement of US-listed equity trades between broker-dealers Swiss financial services firm Credit Suisse and Nomura Group-backed Instinet.
More DetailsRipple has been tapped to help Palau develop a U.S. dollar-backed digital currency, which is seen as a viable alternative to CBDC.
More DetailsEquilibrium has chosen Chainlink, a tokenized oracle network, to power synthetic assets, lending, and stablecoins using its smart contracts.
More DetailsThe IMF is set to play a crucial role in monitoring the advancement of digital currencies.
More DetailsTether has blacklisted five new addresses on the TRON blockchain, highlighting its efforts to maintain network integrity and security. The largest address lost over $1.2 million USDT, aiding law enforcement and users in recovering stolen funds.
More DetailsIn a bid to strengthen its regulatory landscape, Japanese lawmakers are reportedly looking forward to amending the Act on Punishment of Organized Crimes and Control of Proceeds of Crime (1999)
More DetailsBy partnering with Circle, Worldpay will enable merchants to have the ability to receive settlement directly in USDC stablecoin.
More DetailsThe former Chief Executive of the Hong Kong Monetary Authority (HKMA) has established a new digital wallet company, RD Wallet Technologies Limited.
More DetailsDiem Association is planning to move its main operations from Switzerland to the United States.
More DetailsCircle Internet Financials LLC, the blockchain company responsible for the issuance of the USDC stablecoin, has announced its latest partnership with New York Community Bank (NYCB).
More DetailsSygnum, a Swiss-based crypto bank, has launched a fiat-based stable coin, DCHF token, tied to the Swiss Franc, in an effort to increase transaction efficiency by enabling faster payment when trading financial assets.
More DetailsLUNA has left crypto enthusiasts' mouths agape because they could never imagine in their wildest dreams that one of the top ten cryptocurrencies could collapse to near-zero overnight.
More DetailsAccording to TKWW, key figures including HKUST Vice-President suggest that the Hong Kong government should issue its own stablecoin, referred to as HKDG, as a strategic move to bolster the city's digital economy.
More DetailsPlatypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ goal of improving capital efficiency for its users. USP also resolves long-running collateral issues associated with stablecoins. The native Platypus Finance stablecoin has been designed to reduce the liquidity fragmentation and scattered assets that are endemic to many protocols.
More DetailsBermuda's Premier and Finance Minister, Edward Burt, stated that despite the collapse of crypto exchange FTX in nearby Bahamas, Bermuda will continue to accommodate digital asset and blockchain technology companies due to the benefits they offer. The territory, which implemented a regulatory framework for digital assets, recently released its first stablecoin powered by the Polygon blockchain.
More DetailsThe federal government of Canada announced in a budget address that it has started discussions on cryptocurrencies, stablecoins and central bank digital currencies.
More DetailsTether's chief technical officer Paolo Ardoino denied borrowing from Celsius in response to Celsius' examiner report.
More DetailsCelsius is seeking to generate liquidity through sales from its $23 million in stablecoin holdings.
More DetailsIn response to the recent crash of the LUNA collapse, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva questioned the risk of stablecoins, calling it a ‘Pyramid’ scheme.
More DetailsMyanmar’s shadow political entity, the National Unity Government (NUG), has reportedly adopted the Tether (USDT) stablecoin as its primary currency to bypass the sanction from the military regime.
More DetailsThe OCC Boss, Brian Brooks has testified before the US Senate Banking Committee about the growing use of cryptocurrencies and stablecoins in the country
More DetailsCBN approves ASC's cNGN stablecoin, a regulated digital currency pegged to the Naira, launching on Feb 27, 2024.
More DetailsA recent report by the IMF says the current evolution in the crypto ecosystem presents both opportunities and challenges for the broader financial ecosystem
More DetailsThe share plunge of the cryptocurrency market has severely hit MakerDAO, the leader in the decentralized finance (DeFi) ecosystem. Last week its market value fell sharply from 889M to $246M which brought together Maker’s developer community who have recently discussed adding support for Circle’s USDC as collateral to hedge against the liquidity risk.
More DetailsTrueUSD (TUSD) depegged below its $1 parity, dropping to $0.97, amid significant selling on Binance and issues with real-time reserve attestations. The depegging was linked to activities on Binance Launchpool and raises questions about stablecoin stability and transparency.
More DetailsCryptocurrency trading platform FTX Derivatives Exchange has published a 10-point regulatory proposal, aims at helping American regulators to provide better regulatory oversight of the broader cryptocurrency ecosystem.
More DetailsRaft DeFi platform hacked, loses $3.3M in ETH. Attacker burns most stolen ETH, faces net loss.
More DetailsLibra has been facing some competition as the Celo Foundation has awarded its first grants of $700,000 in total to 13 projects that expand the use of its platform.
More DetailsThe United States Secret Service has notably confiscated as much as $102 million worth of crypto assets in its investigation of the activities of cybercriminals.
More DetailsIn this second part of our interview with Cascarilla, he explains why the PAX stablecoin is ultimately superior to Tether and gives his thoughts on Facebook’s Libra project and the nature of money.
More DetailsThe depegging of USD Coin (USDC) and Dai (DAI) from the US dollar resulted in more than $2 billion in loan repayments on decentralized lending protocols Aave and Compound, with borrowers saving a total of over $100 million. USDC and DAI started heading back toward their peg, and repayment activity tapered off in the following days.
More DetailsIn its latest Financial Stability Report, the Financial Planning Committee (FPC), an offshoot of the Bank of England has recommended pushing for an ‘enhanced’ regulatory framework.
More DetailsThe Bank of England and the Financial Conduct Authority have extended the feedback deadline for stablecoin regulation to February 12, aiming for a comprehensive, inclusive regulatory framework.
More DetailsJudge Cohen reportedly decided to give a 90-day extension to the case, which will give the New York Attorney General’s office to continue investigating. Judge Cohen also dismissed Bitfinex and Tether’s motion to appeal after the ruling.
More DetailsCircle launches native USDC on OP Mainnet, replacing Ethereum bridged liquidity. Collaborating with Optimism, it will be available on Coinbase's Base, Solana, Ethereum, and Mercado Pago.
More DetailsThe House Financial Services Committee is concerned about the Federal Reserve Board's recent regulatory actions on payment stablecoins, arguing they could hinder Congress's digital asset framework, impose additional regulatory burdens, and potentially cause financial repercussions.
More DetailsSociété Générale has introduced EUR CoinVertible, a euro-pegged stablecoin, marking a significant shift in the integration of traditional finance with digital assets.
More DetailsPayPal may be looking to launch its own stablecoins in the future, as it has been reportedly been meeting with stablecoin developers.
More DetailsDespite its plans to float Project Orchid, the technology infrastructure, and the technical competencies necessary to issue a digital Singapore dollar, the Monetary Authority of Singapore (MAS) is not in a hurry to follow the bandwagon.
More DetailsAnchor Protocol, a lending and borrowing protocol built atop the Terra blockchain network, its total UST stablecoins deposit has hit 12 billion, a show of the massive embrace it is currently receiving from the Terra ecosystem.
More DetailsHindenburg Research is offering a $1 million bounty to anyone that can provide information about Tether’s stablecoin reserves.
More DetailsStablecoins plunged below $1 this week. Major regulators have become concerned about such cryptocurrencies.
More DetailsCryptocurrency platform OKX gets Virtual-asset License from Dubai's authority. The exchange also launched stablecoins trading options for their investors.
More DetailsTether Holdings Ltd, the USDT stablecoin issuer, has once again rebutted growing rumours about the composition of its reserve base. The issuer said they have no Renminbi holdings on its reserve.
More DetailsPatrick Hansen, the head of Strategy at DeFi startup, Unstoppable Finance, said the expected MiCA bill could come as early as this month’s ending.
More DetailsA panel of digital regulatory experts at the World of Web3 (WOW) Summit in Hong Kong discussed the future of regulated stablecoins. The group concluded that regulated stablecoins are likely to remain in use by 2030 and that their growth rate in the market supports this idea. The panelists acknowledged the growth of the crypto industry and emphasized the importance of both centralized and decentralized approaches to digital assets.
More DetailsMichael J. Hsu, the Acting Comptroller of the Office of the Comptroller of the Currency (OCC) has advocated that regulators should collaborate with major crypto intermediaries in order to get a grasp of how the ecosystem functions.
More DetailsZahawi presented the Financial Services and Markets Bill to the members of Parliament on Wednesday with a proposal to regulate stablecoins and "digital settlement assets" as a form of payment assets in the UK.
More DetailsCircle's $42 billion USDC is the second-largest stablecoin behind Tether's USDT.
More DetailsSenator Andrew Bragg has proposed a Digital Assets (Market Regulation) Bill 2023 to regulate cryptocurrency services in Australia. The bill recommends stablecoin regulations, licensing of exchanges, and custody requirements to protect consumers and promote investment.
More DetailsHong Kong authorities are currently considering issuing a CBDC as a government-backed stablecoin. Wu Jiezhuang, a Legislative Council member of the Hong Kong Special Administrative Region, thinks converting e-HKD into a stablecoin will mitigate Web3 virtual asset concerns.
More DetailsA G7 statement showed that the financial leaders of the world’s seven largest economies will oppose the launch of Libra.
More DetailsVisa is developing a new crypto product to promote the adoption of public blockchain networks and stablecoin payments. The company is seeking software engineers with experience in programming, Web3 technologies, and Solidity to build the product.
More DetailsBybit is one of the major crypto exchanges offering futures trading services globally. The exchange has launched a new trading service that settles options contracts in the stablecoin USDC.
More DetailsArgentinians have taken refuge in stablecoins after the nation’s economy minister Martin Guzman resigned over the weekend attributed to the financial crisis crushing the South American country.
More DetailsCircle's announcement that Silicon Valley Bank failed to transfer $3.3 billion of its USDC reserves led to a significant sell-off, causing the stablecoin to depeg from the U.S. dollar. Investors who tried to cut their losses by exchanging USDC for other stablecoins, such as USDT, faced exorbitant prices.
More DetailsQ2 2023 saw a slight 0.14% increase in the crypto market, with Bitcoin (BTC) and Ethereum (ETH) rising by 6.9% and 6.0% respectively.
More DetailsAccording to the BBC, the G7 group of nations has drafted a report outlining nine major risks that digital currencies, such as Facebook’s proposed Libra, pose to the global financial system.
More DetailsThe newly integrated StarkNet, a zero-knowledge proof layer 2 protocol, aims to improve efficiency of DAI stablecoin.
More DetailsBanks have increased their interest in cryptocurrencies. Many of them have decided to join the cryptocurrency market, either by offering investments in cryptocurrency or by exploiting the capabilities of blockchain technology, which is already used in various areas with financial services.
More DetailsVisa has come out in support of digital currencies and believes that cryptocurrencies have the potential to improve the value of digital payments and create more accessibility.
More DetailsU.S. regulators have issued a strict warning on money laundering risks associated with stablecoins and has warned providers to tighten AML protections and controls.
More DetailsNew Zealand is in the race of setting up a central bank digital currency (CBDC) because it sees it as a stepping stone towards attaining an efficient monetary policy tool.
More DetailsThe Libra Association has reaffirmed its commitment in creating a payments-oriented stablecoin, holding its inaugural meeting yesterday in Geneva, Switzerland.
More DetailsMarketlend creates a digital currency to be backed by the Australian dollars to create a secondary market for corporate loans prompting a means through which assets can be tokenized over the blockchain.
More DetailsAfter meeting with Ripple at the World Economic Forum, Montenegrin Prime Minister Dritan Abazovic launched a prototype digital currency initiative.
More DetailsTether.to, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, has surpassed US$20 billion, driven purely by community and utility.
More DetailsAccording to an assessment from Glassnode, the amount of stablecoins being deposited on exchanges is an indication that things are turning bullish for Bitcoin.
More DetailsCircle launches 'Circle Research' to further technical innovation in crypto, blockchain, and Web3 through open-source research. The initiative's first contribution, Perimeter Protocol, sets a new standard for building on-chain credit markets. Circle releases the Perimeter white paper and public GitHub Repo to advance open protocol transacting with a focus on credit, catering to a wide range of credit scenarios.
More DetailsAs the stablecoin arena gains steam, the supremacy battle between Tether (USDT) and USD Coin (USDC) continues to rage on.
More DetailsStablecoins and the technology underlying them will be the building blocks of a more sustainable, inclusive and resilient global financial system according to the World Economic Forum (WEF).
More DetailsAlchemy Pay partners with TrueUSD to enable direct crypto purchases via fiat in 173 countries, enhancing accessibility and transparency in the crypto industry.
More DetailsYallaMarket, a grocery delivery startup in the United Arab Emirates, has announced it has started accepting crypto payments for its services.
More DetailsCoinsfera, the global OTC digital asset trading platform, announced that it enables users to trade stablecoin USDT in Dubai.
More DetailsUSD coin issuer and digital financial technology firm, Circle, is now set to expand its Euro Coin and its cross-chain transfer protocol to the Solana ecosystem in the first half of 2023.
More DetailsU.S. House of Representatives is drafting a new bill to impose a two-year ban on issuing new algorithmic stablecoins similar to TerraUSD (UST), according to Bloomberg.
More DetailsThe main financial regulator will require stablecoin issuers to always back their values with reserve assets.
More DetailsGemini co-founder Cameron Winklevoss believes that the next Bitcoin bull run coming up will be "dramatically different,” due to the innovative financial resources that crypto investors have access to nowadays and to the current economic infrastructure.
More DetailsNAB will introduce an Ether-based Australian dollar-pegged stablecoin. Reports say the AUDN stablecoin streamlines cross-border transfers and carbon credit trading.
More DetailsCircle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Innovation. USDC liquidity operations will resume as normal when banks open on Monday, enabling redemption at 1:1 with the US dollar. The stablecoin lost its $1 peg on March 11, trading as low as $0.87, due to the disclosure of $3.3 billion of Circle's reserve held at SVB.
More DetailsThe blockchain-based financial platform, Fusion Network has announced a compromised wallet on Sept. 28. The Fusion swap wallet compromise resulted in a theft of 10 million native FSN tokens.
More DetailsThe FSB, a G20-backed think tank, has cited the duo of government-issued CBDCs and stablecoins as key drivers in the pursuit of better cross-border payments.
More DetailsA recent testimony by Julia Friedlander to Congress has revealed that more countries are exploring CBDCs, however, the US is lagging behind.
More DetailsLidoDAO, the decentralized autonomous organization behind Lido, is considering staking or selling its $30 million ETH treasury to meet unexpected market swings.
More DetailsThe United States Congress has been considering drafting a bill that argues that all managed stablecoins must be treated as investment contracts and hence are securities.
More DetailsThe events related to the Terra and Luna collapse highlight why trading platforms need to provide clarity and education for their users. With tighter regulations looming, demonstrating responsibility and a commitment to consumer protection is vital if trading platforms are to thrive.
More DetailsMajor banks set to challenge Tether's stablecoin dominance, leveraging trust, compliance, and technology in a rapidly evolving market.
More DetailsThe Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.
More DetailsFDIC's Martin Gruenberg said more guidance will be given to banks about crypto when it gains more understanding of its inherent risks
More DetailsJoseph Lubin, Ethereum’s co-founder, has asserted that Facebook should not spearhead the Libra project based on the concerns raised about its reputation.
More DetailsShinhan Bank, SCB TechX, and Taiwan's largest financial institution have successfully completed a stablecoin remittance proof-of-concept (PoC) pilot on the Hedera network, as announced on July 18th, 2023.
More DetailsSix central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).
More DetailsStablecoin Issuer Circle Announces $4.5 Billion SPAC Deal. The combination with Concord Acquisition Corp sets to bring Circle more than $691 million.
More DetailsMajor cryptocurrency firms, including Tether, Crypto.com, Gemini, BitMEX, and others, have denied exposure to dissolved U.S. banks like Silicon Valley Bank and Signature Bank. The firms have taken to social media to assure their users that their funds are safe and accessible despite ongoing issues in the U.S. banking system.
More DetailsLending protocol Aave has temporarily halted trading of stablecoins and set the loan-to-value (LTV) ratio to zero due to the recent price volatility on USD Coin (USDC) following its depegging on March 11. Aave's decision was based on an analysis by decentralized finance risk management firm Gauntlet Network, which recommended a temporary pause of all v2 and v3 markets. The LTV ratio determines how much credit can be secured using crypto as collateral and is calculated by dividing the amount of credit borrowed by the value of the collateral.
More DetailsFTX CEO Sam Bankman-Fried has given a hint that the exchange will launch its own stablecoin
More DetailsThe firm has announced plans to shut down the USN stablecoin to avoid greater risks.
More DetailsRecent failures of established financial institutions, such as Silicon Valley Bank and Signature Bank, have highlighted the potential for distress to spread to the decentralized finance (DeFi) sector. The depegging of stablecoins, including Circle's USD coin (USDC), has also brought governance risks related to the custody of reserve assets to the forefront. Moody's anticipates that regulators could increase their scrutiny of stablecoins and require greater counterparty diversification.
More DetailsGlobal standard-setting organisations are helping the Financial Stability Board evaluate DeFi legislation in numerous countries.
More DetailsHong Kong to launch a 'regulatory sandbox' for testing stablecoin issuance and business models, as outlined in the city's 2024 budget plan.
More DetailsThe Bank of England, through the Prudential Regulation Authority (PRA), is looking to raise as much as £321 million ($419 million) from the commercial institutions as it is planning to shore up its regulatory efforts in the digital currency ecosystem.
More DetailsAsia's leading trust company and qualified custodian, First Digital, is making waves in the global financial ecosystem with the announcement of its new stablecoin, First Digital USD (FDUSD)
More DetailsBermuda has started accepting tax payments using Circle's stablecoin known as USD Coin (USDC).
More DetailsThe new partnership will mutually benefit Circle and Mellon Bank.
More DetailsThe White House's Economic Report includes a chapter questioning the benefits of cryptocurrencies, with 35 pages dedicated to debunking them. It argues that crypto assets fail to deliver on their promised benefits, and that they are too volatile to be a stable store of value or reliable medium of exchange.
More DetailsPresidential hopeful Brock Pierce was served a court summons during his electoral rally at his new headquarters in New York City today.
More DetailsThe European Commission (EC) has unveiled a digital finance package that highlights legislative proposals on crypto assets and digital resilience.
More DetailsCo-Founder and CEO of Circle, Jeremy Allaire has announced the release of the company’s first monthly USDC reserve report for the month of June
More DetailsMatrixport's director of research believed Paxos' BUSD supervision was too lax, prompting regulatory attention. Stablecoins are not the goal.
More DetailsTerraform Labs co-founder, Do Kwon's lawyers have argued in court against the SEC's lawsuit for illegally offering unregistered securities. The lawyers claim the SEC's acquisitions are unfounded and that the stablecoin in question is a currency, not a security. Additionally, Kwon's arrest and subsequent extradition remain uncertain.
More DetailsThe European Central Bank (ECB) has released a new framework geared towards overseeing all forms of electronic payments in the region, including those bordering on stablecoins.
More DetailsBAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.
More DetailsSberbank, Russia’s biggest bank, has disclosed the possibility of issuing tokens to be utilized in digital financial assets (DFA) settlements. The token will be in the form of a stablecoin to be pegged to the nation’s currency, the Russian ruble.
More DetailsThe World Bank Group has recently published a study, issued by the Bank for International Settlements (BIS) on “Payment aspects of financial inclusion in the FinTech era,” highlighting the concepts derived using blockchain, including stablecoins, and central bank digital currencies (CBDCs).
More DetailsMoody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.
More DetailsThe US Federal Reserve is planning to establish a specialized team of experts to keep up with developments in the cryptocurrency industry, specifically focusing on stablecoins. The move comes amid concerns that unregulated stablecoins could put households, businesses, and the broader economy at risk. While acknowledging the transformative potential of cryptocurrencies, the Federal Reserve believes that appropriate guardrails need to be in place to ensure that the benefits of innovation can be realized.
More DetailsBinance said the move aims to improve liquidity and capital efficiency for customers.
More DetailsIn a move to protect investors, Japan’s parliament has passed a bill classifying stablecoins as digital money that must be connected to the nation’s currency, yen, or another legal tender.
More DetailsOn January 4, Reuters reported that US investigators had told a court that they were taking assets tied to FTX and its former CEO, Sam Bankman-Fried. The document included 468 million dollars' worth of Robinhood shares, valued 56 million at the time. The report was released a day after a court ordered SBF to stop accessing FTX and Alameda-related bitcoin and assets.
More DetailsDavid Marcus, Head of Calibra, the digital wallet for Facebook’s Libra stablecoin explained at Money 20/20 conference in Las Vegas about how the network aims to transform the traditional payments industry.
More DetailsA group of human rights advocates have urged U.S. Congress members to be concerned about the role of importance of cryptocurrencies against unstable economies whose local currencies are collapsing.
More DetailsAave announced the launch of the V2 liquidity mining (LM) program, which will operate for three months for analysis and end on July 15.
More DetailsCircle has launched a new account service that enables corporate customers to deposit, withdraw, receive and store cryptocurrencies through their account and allow them to settle all payments in USDC stablecoins.
More Details2023 saw a resilient crypto industry with a 108.1% increase in market cap to $1.72T and a total trading volume of $36.6T. NFT trading reached $11.8B, while stablecoins like Tether maintained a strong presence. Bitcoin's value rose significantly, contributing to the year's positive momentum.
More DetailsStablecoin is a compromise on absolute money issuance power and the adoption of disruptive blockchain technology. Stablecoin will have a profound impact on the infrastructure of future financial systems.
More Details$100 million worth of Tether (USDT) has been transferred from the Tron network, a blockchain-based decentralized operating system, to the Ethereum blockchain.
More DetailsADA, Cardano's native token, backs the algorithmic stablecoin, which is tied 1:1 to the US dollar.
More DetailsIn a conference hosted by National Bank of Ukraine, some central banks recently suggested that blockchain is unnecessary for digital fiat currency
More DetailsArthur Hayes, the co-founder and former CEO of BitMEX, has proposed creating a new stablecoin called the Satoshi Nakamoto Dollar (NUSD) or NakaDollar. Unlike major reserve-backed U.S. dollar-pegged stablecoins, the proposed NakaDollar would be pegged to the sum of $1 worth of Bitcoin and one inverse perpetual swap of BTC against USD, without relying on any USD reserves. The stablecoin's peg to the U.S. dollar would be maintained via mathematical transactions between the new decentralized autonomous organization (DAO) authorized participants and derivatives exchanges.
More DetailsTether’s USDT token, the world’s largest stablecoin by marketcap, has launched on the Bitcoin Cash network. USDT is also available on Algorand, EOS, Tron, Omni and the Liquid Network.
More DetailsIn recent updates, the TrueUSD (TUSD) team has announced that they are actively engaged in efforts to resume TUSD minting on Prime Trust. This announcement was made following an unexpected pause in TUSD minting via Prime Trust, an event that took place on June 10.
More DetailsThe European Central Bank (ECB) published an in-depth report on global stablecoins, focusing on highlighting the requirement for clear regulatory parameters for stablecoins, and the risks it may pose to financial stability. The ECB suggests that a “robust regulatory framework” must be established to address risks before its benefits could be explored.
More DetailsBased on continuous efforts to decrease its commercial paper portfolio for transparency purposes, Tether revealed that it would slash its holdings by $5 billion by the end of July.
More DetailsFacebook-backed Libra Association has rebranded its name to the Diem Association ahead of the proposed launch of its dollar-backed stablecoin.
More DetailsTether’s USDT, the world’s largest stablecoin by market cap, is now available on the Near Network proof-of-stake blockchain.
More DetailsBoyaa Interactive plans to invest $100 million in cryptocurrencies, focusing on Bitcoin, Ether, and stablecoins, while ensuring secure platforms in the volatile crypto market.
More DetailsU.S. based cryptocurrency platform Smartfi announced to develop two coins, including the first minable stablecoin worldwide, which will not require a burn-mint protocol or USD-fiat-peg to maintain an exact correlation to the US Dollar.
More DetailsFTX exchange announced on Twitter that it will provide the first bank in each region with a bonus of $1 million.
More DetailsFacebook on Tuesday announced its Bitcoin rival called Libra, a cryptocurrency created by a Facebook subsidiary called Calibra that will be managed by an oversight body called the Libra Association. The Libra coin will not be available immediately, as the announcement only covers the vision and technology behind the Facebook blockchain. But the company says Libra will be private, mostly.
More DetailsCardano's Q2 2023 report by Messari highlights 34.9% stablecoin growth, DeFi expansion, and NFT trends, with promising developments in scaling solutions.
More DetailsIt is already about a year since China banned transactions involving digital currency transactions, and a Chaoyang Court in Beijing has further reiterated that cryptocurrencies are not legal tender.
More DetailsCircle's 2024 report on the USDC economy highlights significant growth in stablecoin adoption and usage, with a 59% increase in USDC wallets and over $12 trillion settled in blockchain transactions since its inception.
More DetailsBrazilian financial technology company, PicPay wants to bring crypto payments to its users by using its app.
More DetailsAccording to CoinMarketCap, HUSD stablecoin has fallen massively from its $1 peg, dropping to a low of $0.32 following delisting from crypto exchange Huobi on Friday last week.
More DetailsHong Kong is launching a public consultation to establish comprehensive stablecoin regulations, aiming to balance innovation with investor protection, marking a significant step in cryptocurrency governance.
More DetailsThe market capitalization of leading stablecoin Tether (USDT) has been on a roller coaster ride after surging by $1 billion in a record 9 days to hit $19 billion.
More DetailsTether, the most leveraged stablecoin provider based on market capitalization, has deployed a tool provided by Chainalysis, a blockchain analytical company, in its quest to have anti-money laundering (AML) compliance solutions
More DetailsSouth Korean authorities have increased their search for Do Kwon and deployed state officials to Serbia.
More DetailsCircle's USD Coin (USDC) stablecoin chief strategy officer Dante Disparte's Twitter account has been hacked, with the account reportedly promoting fake loyalty rewards to long-time users of USDC.
More DetailsThe Taiwanese Legislature is deliberating on a new Virtual Asset Management Bill aimed at fostering better consumer protection and industry oversight. The bill, seen as moderate, outlines pragmatic mandates for VASPs while leaving room for further regulatory fine-tuning, marking a significant step in Taiwan’s evolving digital asset regulatory landscape.
More DetailsCircle's newest reserve report shows $44.5 billion USDC stablecoin assets.
More DetailsDuring the March 12 stock market crash instigated by the coronavirus pandemic’s disruption to the world economy, cryptocurrency exchanges experienced a massive sell-off of Bitcoin and Ethereum. When the liquidation panic finally settled down, Bitfinex emerged as one of the few exchanges that had been able to take the extreme volatility in stride.
More DetailsStablegains, a DeFi yield platform that closed in May, is being sued in California.
More DetailsAccording to CNBC, the U.K. government will announce a cryptocurrency regulatory regime in the next few weeks, with a focus on stablecoins, and the details of the plan are still being actively discussed.
More DetailsFrax Finance decided to completely collateralize the $1 billion capitalization Frax stablecoin.
More DetailsThe New York Federal Reserve has updated its rules for reverse repurchase agreements (RRP), potentially hindering Circle's access to the Fed's reverse-repurchase program. The Circle Reserve Fund is a money market fund only available to Circle and could be deemed ineligible under the Fed's updated guidelines.
More DetailsRecent announcements have created waves in the blockchain industry. Binance has been making its way around the world, enabling better adoption and an overall understanding of crypto. With China’s President Xi Jinping urging its nation to use blockchain technology and its development, how is Binance leveraging on new collaborations around the world?
More DetailsThe State Duma of Russia passed a law regarding digital financial assets (DFA) in the financial bill’s third reading, which determined the fate of Bitcoin and other cryptocurrencies.
More DetailsTo eliminate overreliance on a single type of stablecoin, Seychelles-based crypto exchange @Bit.com has rolled out USD perpetual trading, starting with BTC/USD and ETH/USD pairs.
More DetailsStablecoins provide low-cost and easily accessible digital payments across international borders.
More DetailsWhile the value of most cryptos has tremendously declined due to coronavirus outbreak, the demand for stablecoins seems to be on the rise.
More DetailsRecent data analysis reveals that Alameda Research minted $39.55 billion USDT, nearly half of Tether's circulating supply. The findings underscore the significant role of major crypto trading firms in stablecoin operations, with a detailed examination of USDT's creation and redemption processes.
More DetailsIn a series of unfortunate events, the Multichain protocol, a cross-chain router protocol, has been left in a state of uncertainty following the arrest of its CEO, Zhaojun, on May 21, 2023. The arrest led to a series of operational disruptions, including the revocation of operational access keys to the Multichain's MPC node servers, which were under Zhaojun's personal control.
More DetailsRecently, significant Bitcoin transactions have been observed in the market. According to Ki Young Ju, the CEO of CryptoQuant, Bitcoin miners have reportedly transferred a whopping 54,000 BTC to Binance over the last three weeks.
More DetailsA quick look at some of the most exciting blockchain use-cases of 2019.
More DetailsUS Treasury Secretary Janet Yellen pushed top US financial regulators to speed up regulations of stablecoin cryptocurrencies.
More DetailsAfter much deliberation and compromises from the European Commission, Assembly, and Council, a final agreement that builds the comprehensive framework for the digital currency ecosystem has finally been made
More DetailsWhat are the implications of the newly introduced US Crypto Bill? Blockchain.News recently spoke to crypto experts to comment on the consequences of the bill, and tell us what advantages might bring to the industry.
More DetailsStablecoins have made incredible crypto gains, achieving a milestone of $20 billion per market capitalization in September.
More DetailsSince the social media giant, Facebook announced its plan to launch its digital currency known Libra, one critic has repeatedly made his opinion known. Bruno Le Maire cannot and will not support the stablecoin project.
More DetailsThe collapse of Silicon Valley Bank and Signature Bank caused major chaos, resulting in stablecoins depegging from the U.S. dollar. The federal government has taken action to protect depositors, and President Joe Biden has vowed to hold those responsible accountable.
More DetailsAccording to the OCC, regulated banks in the US can leverage stablecoins to conduct payments as well as participate as validator nodes on blockchain networks called INVNs.
More DetailsSpeaking at the World Economic Forum, the Bank of England governor Andrew Bailey discussed how cryptocurrencies would fit in the current governance system.
More DetailsWhile the broader cryptocurrency market is still reeling from a multi-year bear market since 2017, stablecoins like Tether are seeing action. Billions of dollars in USDT have been issued since its launch and the addition of Tron-backed stablecoin issuance, coupled with the now-concluded Bitcoin halving, signals a volatile period ahead for crypto traders and investors.
More DetailsCircle CEO said the recent move by Binance to merge stablecoins could help make USDC the standard stablecoin rail between centralized exchanges and decentralized Exchanges.
More DetailsParachain auction winner the Acala Network has launched a $250 million fund to fuel the adoption of Acala USD (aUSD) as the dominant stablecoin for the Polkadot and Kusama ecosystem respectively.
More DetailsKuCoin's latest research highlights a major shift in the crypto market to extreme greed, backed by a $4.55 billion rise in stablecoins USDT and USDC, signaling increased market liquidity.
More DetailsJapan’s FSA is working on a legislation that is set to be introduced next year. The regulations seek to make it only wire transfer companies and banks can issue stablecoins.
More DetailsThe Financial Stability Board (FSB), the G20 body that advises on ways to improve the global financial system, has published a study on the challenges, which stablecoins pose for the global economy. The FSB stated that regulatory frameworks have already covered several activities associated with stablecoins, although there are other risks that many national regulators could be left unprepared for.
More DetailsA recent announcement by the Office of the Comptroller of the Currency (OCC) has provided a mainstream catalyst that could see the ETH price rally to new all-time highs.
More DetailsAs Liz Truss is set to take the top administrative position of Prime Minister in the country, the market is concerned about her monetary policies, including the stance towards cryptocurrency, regulation of Stablecoins and digital assets.
More DetailsDemocrat members of the United States Congress led by Congresswoman Rashida Tlaib (D-MI) have criticized the OCC's focus on crypto and stablecoins.
More DetailsBinance, the largest cryptocurrency exchange by trading volume, has turned to alternative stablecoins such as TrueUSD (TUSD) and decentralized stablecoins, following a regulatory action against its native stablecoin, Binance USD (BUSD), by the US Securities and Exchange Commission (SEC). Binance was forced to seek alternatives after the New York Department of Financial Services (NYDFS) asked BUSD issuer Paxos Trust to stop minting new BUSD altogether.
More DetailsIn a recent white paper entitled Central Banks and the Future of Digital Money—Consensys offers an insightful and practical overview of the potential and risks of CBDC. The research paper also offers an example of how the Ethereum blockchain can be leveraged to design and build a CBDC and takes a deep dive into what the practical implementation of a CBDC would require.
More DetailsThe US House Committee on Financial Services will conduct a hearing on April 19 to evaluate stablecoins’ position as a means of payment and whether the payment ecosystem needs supporting legislation. Circle's chief strategy officer and head of global policy, Dante Disparte, will testify at the hearing, which will focus on various stablecoins and their use in the payments landscape. A draft bill providing a framework for stablecoins in the United States was recently published in the House of Representatives document repository.
More DetailsPayPal has launched a U.S. dollar stablecoin, PayPal USD (PYUSD), backed by U.S. dollar deposits and Treasuries.
More DetailsAmerican payments giant Paypal Holdings Inc has confirmed it is working on its own digital currency which may take the form of a stablecoin.
More DetailsCircle CEO Jeremy Allaire has blamed the declining market capitalization of USD Coin (USDC) on the cryptocurrency crackdown by US regulators. Allaire cited global concern about the US banking system and regulatory environment as major factors.
More DetailsTether Limited recently expanded its reach across various blockchain platforms by launching its stablecoin (USDT) on the Polkadot network
More DetailsCircle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023.
More DetailsBlockchain innovation has significantly changed the way we thought in the traditional financial sector. All of those concepts and business models, such as decentralization, cryptographic tokens, and digital ledger, also brought us more imaginations toward the future forms of money.
More DetailsU.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.
More DetailsBDO, a global accounting company, has attested Tether's reserves.
More DetailsInterest in central bank digital currencies (CBDCs) is on the rise in Latin America and the Caribbean (LAC), with several countries making significant advancements in their adoption, according to IMF.
More DetailsAnatoly Aksakov, head of the State Duma Financial Market Committee, stated that the country should explore other options for crypto regulation.
More DetailsCircle is building a new reserve with BlackRock for USDC
More DetailsCircle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.
More DetailsBitfinex cryptocurrency exchange has announced that it has integrated Tether (USDT) into the OMG network. The integration is set to reduce transaction confirmation and fees. The crypto exchange will enable Tether withdrawals and deposits on the OMG network. OMG network, previously known as OmiseGo, is a scaling platform, which enables peer-to-transactions in real-time, a solution that enhances the scalability of the Ethereum network.
More DetailsThe European Union is drawing closer to adopting the comprehensive Markets in Crypto Assets (MiCA) regulation as the European Council has passed the framework.
More DetailsCharles Cascarilla is the CEO and co-founder of Paxos, a financial technology company working to modernize the financial system by digitizing and mobilizing assets. A traditional hedge fund manager and equity investor, Cascarilla was able to recognize the power of blockchain and the function it could have in revolutionizing the way trade is conducted and settled.
More DetailsBlockchain Association CEO Kristin Smith said crypto regulation is occurring "behind closed doors" and asked for a more collaborative and "transparent approach."
More DetailsBitwise Asset Management to launch two first-of-its-kind Ethereum Futures ETFs, AETH and BTOP, on October 2. The ETFs offer exposure to CME Ether futures in a regulated format.
More DetailsTether introduces a robust blockchain recovery plan to secure USDT tokens and ensure uninterrupted access across multiple blockchains.
More DetailsCircle denies blaming the SEC for its December $9 billion failed IPO. Circle's representative said any contradictory assertions are "inconsistent" with past declarations.
More DetailsMichael Egorov of Curve Finance proposes launching Venus Protocol on Ethereum Mainnet, incorporating Curve's stablecoin crvUSD and CRV as collaterals, with community support for growth.
More DetailsThe long-awaited Markets in Crypto Assets (MiCA) regulation has just scaled through the European Parliament as MPs voted massively in favour of the bill.l
More DetailsKuCoin Ventures leads a $10 million investment in CNHC, a Chinese yuan-pegged stablecoin issuer and blockchain payment service provider.
More DetailsBitFinex and Tether have officially spoken out against what they are describing as a baseless lawsuit, designed to undermine the cryptocurrency ecosystem.
More DetailsBinance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks - Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank.
More DetailsWill ETH-inspired rally continue to drive the market? Will oil stabilize despite a fundamental short-term storage environment with a popular flawed ETF product? Will halvening next month start getting the market excited? Bottom line: mixed messaging.
More DetailsFive members of the 27-member European Union Bloc has urged the body to pass regulations to stiffen the emergence and existence of stablecoins in the region
More DetailsStablecoin issuer Tether Operations Limited (“Tether”) has announced plans to launch Tether tokens (GBPT) pegged to the British Pound Sterling in early July.
More DetailsMulticoin Capital's 2024 outlook highlights the transformative role of AI, stablecoins, and innovative token distribution in the crypto and blockchain landscape. The firm foresees significant advancements in remittances, social applications, and various sectors integrating crypto as a foundational element.
More DetailsThe move is an attempt by MakerDAO to diversify its holdings by allocating $500 million for investment in U.S. short treasuries and corporate bonds.
More DetailsCrypto exchange giant Binance, and digital asset trust company Paxos recently announced their partnership to launch a USD-backed stablecoin. The announcement comes after the approval from the New York State Department of Financial Services (NYDPS). New York-based exchange and stablecoin operator, Paxos launched a gold-backed Ethereum-based token named Pax Gold (PAXG).
More DetailsCheckout.com has launched offering stablecoins as a payment option for its merchants by using Fireblocks’ new crypto payment technology.
More DetailsThe UK Treasury labelled algorithmic stablecoins "unbacked crypto assets" rather than banning them.
More DetailsBabel Finance is considering a new restructuring opportunity that involves the creation of a new decentralized finance (DeFi) project called Hope. This project aims to generate revenue to repay debts owed to creditors, and will mint a new stablecoin using Bitcoin and Ether as collateral.
More DetailsThe Bank of International Settlements (BIS), has called the growth in the decentralized finance (DeFi) ecosystem an “illusion” with a handful of criticisms.
More DetailsMastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi). Global payment provider Mastercard has expanded its partnership with the Australian stablecoin platform, Stables, to enable retail customers in the Asia-Pacific region to spend and save USDC anywhere Mastercard is accepted. The wallet will accept deposits in several stablecoins, including Tether (USDT) and Binance USD (BUSD), with all deposits automatically converted into USDC. This move comes as worldwide banking turmoil and regulatory crackdowns continue to impact the crypto space.
More DetailsMade up of more than two dozen companies and based in Geneva, a few of the founding members, including PayPal, Mastercard, Visa, Stripe, Booking Holdings, and eBay, decided to leave the Libra project. A five-member board governance board was formed after the Libra Association reaffirmed its commitment by holding its inaugural meeting in Geneva, Switzerland, on Oct. 14.
More DetailsTether (USDT) has regained its 1-to-1 peg with the dollar after briefly dropping to 94.55 cents, its lowest since December 2020.
More DetailsBlockchain security firm PeckShield identified a hack that allowed an attacker to mint over 1 quadrillion Yearn Tether and then swap it for other stablecoins worth $11.6M. The attacker also managed to transfer 1,000 ETH to the cryptocurrency mixer Tornado Cash. DeFi protocols Yearn.finance and Aave have confirmed that their current contracts and protocols were not affected by the exploit.
More DetailsBinance CEO Changpeng Zhao denied that the business is contemplating leaving the US on Twitter.
More DetailsThe UK is intensifying regulatory standards for crypto exchanges under the Financial Services and Markets Act, aiming for parity with traditional financial services. Exchanges must comply with stringent risk assessments and finance tests, impacting both domestic and offshore entities.
More DetailsTo boost investor protection following the recent collapse of LUNA and TerraUSD (UST) tokens, financial authorities in South Korea have beefed up crypto exchange inspections.
More DetailsCircle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
More DetailsThe Reserve Bank of India (RBI) is planning to increase the number of Central Bank Digital Currency (CBDC) transactions to one million per day by the end of 2023, according to Deputy Governor T Rabi Sankar.
More DetailsMastercard’s CEO, Ajay Banga, stated the reasons behind the company leaving Facebook’s Libra Association in an interview with the Financial Times. Having left the Libra Association in October last year alongside Visa and other firms, the Libra Association has seen eight firms quitting the project.
More DetailsThe Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute has signed an agreement with multinational telecommunications giant Huawei.
More DetailsThe International Monetary Fund (IMF) supports regulating digital money and prioritizes differentiating between central bank digital currencies and crypto assets, such as stablecoins. The IMF's Managing Director, Kristalina Georgieva, clarified that the nuclear option to ban cryptocurrencies remains on the table, but the agency would prefer to pursue good regulations, predictability, and consumer protection.
More DetailsThe BNPL payment company Afterpay expressed their intention to the Australian Senate to launch the Australian dollar stablecoin soon, saying that crypto will help merchants reduce related payments.
More DetailsTether partners with Uzbekistan's NAPP to develop blockchain and peer-to-peer telecommunication, aiming to fuel innovation and economic growth.
More DetailsFederal Reserve Governor Christopher J. Waller defended the US dollar's global economic dominance, emphasizing its role as a physical currency, financial asset, and preferred unit of account.
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