FinCEN: Stablecoin Issuers Are Money Transmitters, No Matter What
“Just because you say you are a banana doesn’t make you a banana,” said Director Blanco. Source
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Stablecoin
The Dai Stablecoin: The First Cryptocurrency Backed by Another Cryptocurrency (Ethereum)
Stablecoins, like Tether (USDT) or Facebook’s Libra, are a new sort of cryptocurrencies that differ from the rest by avoiding fluctuating prices which make even the popular cryptocurrencies, such as Bitcoin(BTC)trade, difficult for trade. Their value is based on stable underlying resources. Some are backed by dollars, and some by
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Stablecoin Crisis Could Wreck Global Finance, Fed Warns in New Report
The Fed warned that a stablecoin crisis could wreak havoc on the global economy and outlined the steps issuers must take to protect the status quo. Source
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Canada’s Blockchain Venture Capital Introduces the CUSD Stablecoin
Blockchain Venture Capital Inc. (BVCI), one of Canada’s biggest blockchain enterprises, expressed profound joy as it announced the addition of a new virtual currency to its increasing list: the stablecoin CUSD.The blockchain-oriented firm is known for driving industry changes in the sector. And barely four months after the launch of
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Canadian Blockchain Firm Launches USD-Pegged Stablecoin CUSD
Canadian blockchain research firm Blockchain Venture Capital Inc. (BVCI) has officially launched a United States dollar-pegged stablecoin, the CUSD, according to a press release published on Nov. 11.The new USD-anchored stablecoin comes four months after the firm launched CADT, a stablecoin initiative pegged to Canada’s national fiat currency.CUSD is
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Stablecoin ‘Structure’ Determines If It’s a Security
International securities regulator International Organization of Securities Commission (IOSCO) suggested that some stablecoin implementations are securities.In a statement released on Nov. 4, IOSCO informed the public that on Oct. 30 its board met to — among other purposes — discuss stablecoins and the potential application of securities market regulations. IOSCO’s
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Bitfinex Crypto Exchange Moves $1.5M of Stablecoin to Bitcoin Sidechain
Cryptocurrency exchange Bitfinex moved 1 .561 million Tether (USDT) from the Omni Protocol to the Liquid Bitcoin (BTC) sidechain.Bitfinex CTO Paolo Ardoino announced the U.S. dollar-pegged stablecoin’s protocol swap on Twitter on Nov. 2.The conversion increases the quantity of USDT available on the network after the stablecoin was first launched
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Are Stablecoin Futures Built to Last?
OKEx, the world’s fifth-largest crypto exchange, announced on Oct. 29 plans to launch Tether (USDT) futures trading, featuring a linear contract with leverage of up to 100x. Stablecoin futures, the exchange said, offer a simpler and more efficient means to navigate the market, and could open the door for
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Report: Stablecoin Loans Hit New High in Q3 with $870 Million
A 38% increase in stablecoin loans has been reported by Genesis Capital, one of the largest institutional lenders of cryptocurrencies, in the third quarter of 2019.Genesis Capital’s team reported that the growth in their lending business continues to grow as the record of $746M that had been set in the
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OKEx Launches Crypto Futures Settled in Tether Stablecoin
Cryptocurrency exchange OKEx is to launch a range of cryptocurrency-based futures contracts settled in the stablecoin tether (USDT). The exchange will support USDT pairs including bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, XRP, bitcoin SV (BSV) and Tron
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