Cryptocurrency Analysis and News Portal
Vitalik Buterin, the co-founder of Ethereum, the second-biggest cryptocurrency by market cap, has reacted to some of his earlier beliefs in a new year’s tweetstorm. The developer touched on some subjects including the rise of cryptocurrency in Argentina and how stablecoins are thriving in the country, how ethereum scaling is
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Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the United States. In November, the United States’ President’s Working Group on Financial Markets, or PWG, issued a key report, raising questions about possible “stablecoin runs” as well
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Cryptocurrency derivatives exchange FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward.In a Tuesday Twitter post, FTX said it was exploring forming relationships with banks in different regions to allow users to have “near-instant and near-free deposits
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As they say, change is hard. In a dynamic digital world, it’s tempting to protect ourselves from the pressure of change by simply refusing to acknowledge it and clinging to the status quo. But while that approach may feel comfortable, it’s a poor way for policymakers to manage a national
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In an annual report published on Friday, the United States Financial Stability Oversight Council, or FSOC, voiced its concern over the adoption of stablecoins and other digital assets. Regarding stablecoins, the FSOC said consumer confidence could be undermined by factors such as illiquidity, lack of appropriate safeguards, opacity regarding redemption rights
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Stablecoins provide a lot of the plumbing in the crypto ecosystem. Because there is demand for stablecoins, there is usually an above-average rate for borrowing and lending them. Investors are able to earn interest with stablecoins by depositing into various lending pools. Smart contracts – the code that runs crypto
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The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers to establish a clear regulatory framework but could not seem to agree on where lines would be drawn.In a Tuesday hearing on “Stablecoins: How do They Work, How Are
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Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve. Reserve is
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Speaking publicly for the last time as a member of the Board of Governors of the Federal Reserve System, Randal Quarles urged regulators to exercise restraint on stablecoins.In a prepared statement for his speech at the American Enterprise Institute on Dec. 2, Quarles expressed concern that regulations could hamper innovation
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Even in the cases of stablecoins that do have U.S. banking relationships, it’s not clear these small banks can quickly perform these functions typically performed by big Street banks. To wit, the Fed’s rescue of MMFs in 2008, in its role as “lender of last resort,” occurred after banks already
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