Stablecoin
NY Authorizes Stablecoins as a Form of Bail: Assembly Bill 7024
The New York State Legislature introduced Assembly Bill 7024 authorizing stablecoins as a valid form of bail. The bill followed General Attorney Letitia James’ proposal for crypto regulations. The authority...
NY Fed Adds New Policy Blocking Stablecoin Issuer Circle To Fed Program
On Wednesday, the Federal Reserve Bank of New York (NY Fed) changed its counterparty criteria for its reverse-repurchase program (RRP), potentially blocking stablecoin issuer Circle from accessing the program. The...
Crypto Twitter Highlights The Flaws In The New Euro Stablecoin
The crypto community on Twitter had a field day with EURCV, the new Euro-pegged stablecoin unveiled by the crypto division of France banking giant Societe Generale. Crypto Twitter has criticized...
Circle Urges U.S. Government to Enact Stablecoin Legislation
Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, is set to ask the U.S. Congress to enact a comprehensive payment stablecoin legislation. Disparte’s request forms part of...
US’ Payment Stablecoin Bill Poses Issues Along with Advantages
Jeremy D Allaire, the American technologist and CEO of the digital asset company Circle, wrote on his official Twitter page about the US Draft of the Payment Stablecoin Bill, acknowledging...
Fine and Imprisonment for Violating Stablecoin Issuance Laws
The US Congress released the discussion draft of the 118th Congress First Session, highlighting the requirements for being a payment stablecoin issuer. The draft pointed out that the bill would...
Binance CEO CZ Calls Attention to USDT’s Growing Market Cap
Changpeng Zhao, the man behind the world’s largest crypto exchange Binance, took to Twitter earlier today to point out the current environment in the stablecoin market. The Binance CEO began...
Hong Kong’s Licensing Regime For Virtual Assets To Go Live In June
The government of Hong Kong is actively supporting the development of its crypto industry by interacting with companies operating in the virtual asset industry, along with working towards providing more...
U.S Justice Department Investigates TerraUSD Stablecoin Collapse
The United States Justice Department is investigating last year’s collapse of the TerraClassicUSD (USTD) stablecoin, which contributed to the sweep away of $40 billion in the Terra ecosystem. The investigation...
Circle CEO Assures 100% Safety of USDC Reserves, Transfer Resumes
Computer entrepreneur and CEO of the digital currency company Circle Jeremy Allaire shared a Twitter thread in the early hours of March 13 updating the current status of the company’s...
Circle CEO Says SEC Isn’t The Right Regulator for Stablecoins
Jeremy Allaire, the founder and CEO of Circle Internet Financial, believes that the United States Securities and Exchange Commission (SEC) should not have regulatory oversight of stablecoins. The chief of...
More Curiosity Surround TUSD Following Founder’s Whale Transaction
The growing status of Justin Sun’s TUSD stablecoin amid a falling sector has raised some eyebrows in the crypto industry. Sun’s recent transfer of 100,000,000 USDC to a Binance wallet,...
Stablecoins See Notable Spike in Volume Following Silvergate Scrutiny
Silvergate has been going through turmoil as the bank recently announced that there would be a delay in filing its annual 10-K report and also announced that it would have...
5M USDC Burned At Treasury; 10.3M USDC Transferred To Coinbase
Blockchain and transaction tracker and analytics platform Whale Alert reported on March 2 that 50,000,000 USDC worth $50,043,042 USD was burned at USDC Treasury. Simultaneously, the Twitter handle of the...
Japanese Banks Initiate Stablecoin Issuance: Proof-of-Concept Trial
Three Japanese banks, including Tokyo Kiraboshi Financial Group, Minna no Bank, and The Shikoku Bank, have initiated their venture on experimenting with stablecoins on an Ethereum-compatible blockchain as an initial...
Tether Has Moved Reserves to Capital Union and Two Other Firms
According to the latest report, Tether Limited Inc., the leading cryptocurrency exchange that launched the asset-backed stablecoin Tether has moved a major share of its reserves to three financial institutions...
Upcoming Stablecoins Will Benefit Cardano Network: Emurgo
Emurgo, the founding entity of Cardano, claims that the scheduled native stablecoin USDA under development will bring stability to the network, among other underlying benefits. USDA is one of the...
USDT Issuer Clears Unsecured Debt and Profits by $700M in Q4 2022
Tether Holdings Limited, the issuer of the largest stablecoin, USDT, said it no longer holds any short-term, unsecured debt against its balance sheet after announcing a $700 million profit in...
VISA Executive Reveals Plans of Stablecoin Settlement
VISA Inc, one of the biggest payment processing firms in the world, has begun experimenting with stablecoin settlements on their network. The CEO of VISA’s crypto department, Cuy Sheffield, confirmed...
Cardano Partner Plans 400% to 800% Reserve Ratio for DJED Stablecoin
COTI, the layer-one protocol overseeing the upcoming algorithmic stablecoin of the Cardano blockchain, has shared an update regarding the collateralization ratio of the coin. In a blog post over the...
Fantom Announces the Launch of fUSD Version 2, V1 Migrates to V2
The highly scalable blockchain platform Fantom shared its decision to introduce its stablecoin fUSD’s version 2, while version 1 migrates to version 2. The new version is launched with the...
COTI Initiates Chain Syncing to Unveil DJED Stablecoin Next Week
COTI, the layer-one protocol overseeing the upcoming algorithmic stablecoin of the Cardano blockchain, has officially confirmed that the long-awaiting ‘DJED’ stablecoin will premiere next week. In an official blog post...
Japan’s FSA Lifts Ban on Stablecoins; New Regulations from June
As per the reports of a local financial authority, the Financial Services Agency (FSA) of Japan announced that the new regulations on crypto would be implemented from June 2023, permitting...
WEF’s Annual Summit in Davos: Crypto Industry in Crisis?
The World Economic Forum’s (WEF) annual summit commenced on January 16 in the snowy Davos, Switzerland, intending to discuss various topics among which crypto and crypto regulations are a major...
MakerDAO Set To Retain $500 Million GUSD In Its Reserve
The community of MakerDAO is voting to decide if Gemini’s GUSD stablecoin should be held in their reserve. The vote is rather important for Gemini as the exchange navigates the...
