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Issuers of e-money tokens tied to fiat currency and of asset-reference tokens linked to other products such as gold should start adhering to MiCA’s “high standards” of disclosure to potential users sooner rather than later, non-binding guidelines published by the Paris-based agency said, offering a template form for companies to
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China has long since closed its doors to decentralized cryptocurrencies, but Circle CEO Jeremy Allaire believes that stablecoins could play a role in the proliferation of China’s digital yuan.Allaire, who heads up the issuer of dollar-backed stablecoin USD Coin (USDC), suggested that a renminbi (RMB) based stablecoin might be China’s best
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GHO has been in the works for over a year and was issued on a testnet earlier this year. Source
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Stablecoin use could be "stifled" by daily transaction caps in the European Union's Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised.On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryptocurrencies to come into effect.
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The issuer of the USDC Circle is reportedly exploring the possibility of launching a stablecoin in Japan following the implementation of new crypto regulations in the Asian nation. In an interview with CryptoX, Jeremy Allaire, the
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Stablecoin issuers will have to abide by tough rules. Stablecoins must be pegged to the yen or other legal tender and guarantee holders the right to redeem them at face value. Only licensed financial institutions like licensed banks, registered money transfer agents and trust companies will be able to issue
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Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the country’s dollar which could challenge the dominance of Tether (USDT) and USD Coin (USDC).According to an English translation of a July 3 report provided by Chinese crypto reporter Colin
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A policy paper has recently proposed the creation of a government-backed stablecoin, the HKDG, in Hong Kong to potentially compete with well-established digital counterparts, such as USDT and USDC. A policy paper suggesting the Hong Kong government
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Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released Markets, Infrastructures and Payment Systems report for June 2023 has called on regulators to apply the same financial
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