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Circle CEO and founder Jeremy Allaire wrote to prominent financial services lawmakers in the U.S., calling for workable, clear legislation on stablecoins and warning of the risks to the country of not doing so. Original Source
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Transaction data on the blockchain shows that Sun withdrew the funds in four transactions processed Thursday. He moved $2.4 million of USDT, 2.1 million of USDC, $1 million TUSD and $673,000 in BUSD from the four available credit pools on the lending protocol. Source
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Plunging cryptocurrency prices are not the only consequence of this week’s FTX-induced crypto contagion. Significant market volatility this week induced by the collapse of the FTX exchange has impacted stablecoins with many of them de-pegging temporarily.According to CryptoQuant senior analyst Julio Moreno, nearly all leading stablecoins have experienced some level of
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The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget.The government's “2022 Fall Economic Statement” released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as a fiscal update in conjunction with its main
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Gibraltar Financial Services Commission (FSC) wants to bring decentralized finance lending and stablecoins into “sharp focus,” William Gracia, Head of distributed ledger technology (DLT) and markets at the FSC said at the country's affair on Tuesday. Gibraltar was hosting an event in central London to celebrate the progress of blockchain
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The first full week under the leadership of the newly-elected Prime Minister Rishi Sunak saw a major landmark for crypto regulation in the United Kingdom. The Financial Services and Markets Bill, made public on Oct. 25, aims to enhance the U.K.’s position as a “global leader in financial services” —
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The United Kingdom moved forward on the Financial Services and Markets Bill on Oct. 25, hardening its vision for Bitcoin (BTC) cryptocurrency and “digital settlement assets” in the country.The Bill, proposed on Oct. 18, suggested would propose “A range of measures to maintain and enhance the U.K.’s position as a
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According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina,
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