Fintech innovations such as open banking, CBDCs, stablecoins, and instant payments are driving transformation in the financial sector.
Bitcoin & Stablecoins to help address currency volatility in African countries and provide a more stable and reliable means of exchange.
G20 nations and IMF mentioning the need for differentiation between CBDCs & Stablecoins, and Crypto Assets.
Binance USD issuer Paxos has reportedly been hit with a Wells notice, meaning the SEC intends to sue unless it can be convinced otherwise
Financial expert says the WEF Great Reset agenda will fail if cryptocurrency market remains unregulated, and that homogenised cooperation is essential
The World Economic Forum (WEF) kicked off Monday and while global elites are slated to discuss a variety of topics, at least one market observer is clamoring for crypto regulations to be part of the conversation.
The S.E.C. charged Genesis Global Capital and Gemini Trust, which is run by Cameron and Tyler Winklevoss, as crypto companies face heightened regulatory scrutiny.
The European Commission plans to make crypto companies report user holdings to tax authorities, it said Thursday.
Nov 29 (Reuters) – Brazil’s lower house of Congress approved a bill that aims to boost oversight of the country’s cryptocurrency sector.
New York will instate a two-year moratorium on new fossil fuel-powered cryptocurrency mining operations working towards economic & climate goals.
Singapore has ambitions to become a global cryptocurrency hub, but has not been friendly toward cryptocurrencies due to their volatile and speculative nature, sending mixed signals to the industry.
“The Central Bank of England is moving forward to create a regulatory framework for systemic stablecoins.” Deputy Governor Sam Wood.
Mairead McGuinness, the EU financial services commissioner “any crypto rules imposed on the industry would need to be global in order to work.”
Cryptoasset companies should set aside capital like banks when undertaking similar activities, regulators proposed on Tuesday in their first global rules as a “crypto winter” wiped $2 trillion off the sector, leaving investors nursing losses.
The Crypto Valley Association (CVA), based in the Swiss Canton of Zug’s self-proclaimed “crypto valley,” will spearhead the partnership with its counterpart in Dubai to connect a growing group of blockchain communities in Switzerland and the Middle East.
The recent collapse of cryptocurrency Terra is another reason to question why stablecoin regulation has been such a challenge in the US, says Noah Qiao, an attorney with Kirkland & Ellis. He says the answer may lie in stablecoins’ mixed uses. He proposes that single-use stablecoins could be a way to capture greater institutional adoption.
Circle Internet Financial, issuer of the dollar-pegged stablecoin USD Coin (USDC), is launching a new euro-pegged stablecoin Euro Coin (EUROC) on June 30th. Developers can already integrate with the Euro Coin smart contract, and institutional users can access EUROC on the launch date upon creating a free Circle account.
Dr. Thomas Moser, of the Swiss National Bank’s (SNB) regarding the potential competition between private sector stablecoins and government CBDCs, Dr. Moser is confident that both types of digital currency can coexist because CBDCs perform only very basic functions, while stablecoins can be tailored for many other uses.
Digital currencies have many potential uses, and public demand for programmable money is thus growing fast. It is likely to be issued primarily by central banks or supervised intermediaries. Helping to shape the ideal monetary system for the future is a priority for the SBA.
Fiat-backed stablecoins are cryptocurrencies pegged to the value of real-world currencies, such as the U.S. dollar or euro, and backed by reserves in that currency.
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While the U.S. is still working to regulate cryptocurrency in the country, Japan has taken measures of its own for stablecoins. The country passed a stablecoin bill late last week that could change the entire crypto landscape. Article continues below advertisement.