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"As mainstream finance moves into this space, I think people in Congress are going to see we can't have our head in the sand anymore," Lummis said at the same event on Tuesday, suggesting that some lawmakers will be more comfortable with the representatives of traditional financial firms. "When they
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The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by blockchain research firm Chainalysis.Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, Chainalysis stated in its latest North America cryptocurrency report released on Oct. 23.According
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Far too often, regulators, policy makers, and commentators have looked at potential stablecoin regulation and assessed the risks relative those presented by the institutions facilitating these traditional forms of payments. I believe that stablecoins do not present more or less risk, but rather different risks. In one sense, the fully-backed
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U.S. Risks Unleashing Second 'Eurodollar' Market if It Dallies on Stablecoin Regulation Original Source
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Rakoff is also grappling with how to extract information from Kwon in connection with the case. Kwon’s lawyers have argued he can’t come to the U.S. as he is serving a jail sentence in Montenegro for possession of a fake passport, but “the laws of physics do not make it
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Today, digital currencies are poised to upgrade America’s decades-old financial plumbing, bolster the U.S. dollar, and make it easier, faster, and cheaper for families and businesses to send, spend, lend, and exchange their money. But this can happen only if Washington unites behind payment stablecoin legislation that puts financial stability
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Terraform Labs, founded by Do Kwon, has once again accused Citadel Securities of deliberately causing the depegging of its TerraUSD (UST) stablecoin in 2022. On Oct. 10, the company filed a motion in the United States District Court for the Southern District of Florida to compel Citadel Securities to release documents
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Stablecoin Lender Liquity’s Token Gains 80% in Month as Activity Increases Source
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The firm behind the USDT stablecoin says its current boss Jean-Louis van der Velde will transition to an advisory role for Tether. The issuer of the largest stablecoin by market capitalization USDT, Tether Limited, has appointed Paolo Ardoino as the firm’s new head. In a blog announcement on Friday, Oct. 13,
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Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus.Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will become the new CEO of the firm in December 2023, Tether announced
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