Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report
Earlier this year KuCoin closed a $10 million funding round into CNHC. Source
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Stablecoins
Binance Japan Representative Says Stablecoins Are ‘the Glue’ Between the Real Economy and Blockchain
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EU raises alarm over potential bank threats posed by stablecoins
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The European Systemic Risk Board has recommended increased disclosures and monitoring as measures to combat the risks associated with the cryptocurrency market. This alarm follows concerns have been raised about the potential impact of a sudden crisis
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Stablecoins’ future becomes uncertain amid crypto slump
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied For the 14th consecutive month, the total market cap of stablecoins continues to shrink, standing at a modest $130 billion in May – a startlingly low point unseen since September 2021. But, as their numbers
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DeFi Platform Num Finance Raises $1.5M, Will Expand Stablecoins in Latin America, Middle East
Stablecoins anchor their price to an external asset, usually to a government-issued fiat currency, and allow cheaper and faster transactions using blockchain technology. Despite its growing adoption in developing countries, U.S. dollar-denominated stablecoins dominate the market, representing roughly 99% of the combined supply, according to CoinGecko data. Source
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EU Banks Could Access Stablecoins More Easily Under Commission’s Leaked Capital Plans
“The uncertainty and conservatism inhibits deal-making in the short term, much of which is to pilot, test and improve banks’ experience and understanding of this market in a controlled manner,” Sahir Akbar, managing director of prudential regulation at lobby group the Association for Financial Markets in Europe (AFME), said of
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Regulators Should Not ‘Front-Run’ Congress on Stablecoins
Some have speculated that stablecoins may pose risks to the broader financial system, citing the fact that Circle, which issues and manages USDC, held large deposits at the recently-shuttered Silicon Valley Bank. Chair Gensler himself attempted to make a connection between Silvergate and Signature Bank’s activities in crypto and their
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EU Could Veto Large Stablecoins During Approval Process Under MiCA, EBA Signals
In answer to a further question from former U.S. Commodity Futures Trading Commission Chairman Timothy Massad, Campa also appeared to share concerns voiced by the U.S. central bank, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency that stablecoins on decentralized, permissionless blockchains could prove unsafe or
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Fiat-backed stablecoins could be used to post bail in New York under proposed bill
A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds. The partisan bill, introduced on May 10 by New York State Democrat Latrice Walker, details the pre-existing methods of paying bail bonds, including cash, insurance bonds, and
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Africa Moves to Lightning, Stablecoins as Bitcoin Transaction Fees Soar
Users of the Muun wallet, which utilizes both the bitcoin and lightning layers to process transactions, have been charged high fees, particularly those employing it for payments at South African retail chain Pick N Pay, said Kgothatso. Congestion on the mempool has meant that swaps in the Muun wallet are
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