Cryptocurrency Analysis and News Portal
Over the last year, the narrative surrounding central bank digital currencies (CBDCs) has advanced considerably. From an almost entirely conceptual discussion, CBDCs are now in various stages of research and development to ascertain how they could work in practice.China’s digital yuan is currently leading the pack. Following several pilots, the
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Some cryptocurrency companies have taken a proactive approach to finding existing regulations they believe more adequately cover what their stablecoin would do. Avanti – a special purpose depository institution, which is a bank with only a state charter, a classification that was created under new legislation in Wyoming – seems
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A high-profile blockchain lobby group is urging United States lawmakers to adopt a “technology-neutral” approach when it comes to stablecoin regulation, arguing that dollar-pegged cryptocurrencies do not pose a system risk to the financial system.In a 17-page letter addressed to the President’s Working Group on Financial Markets, which includes regulators
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On paper, the concept of a “stablecoin” is relatively simple. Cryptocurrencies are notoriously volatile, and traders like being able to cash out quickly. Stablecoins are cryptocurrencies that allow for just that. Tied 1:1 to the price of a particular fiat currency (usually the U.S. dollar), they’re a way for traders
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“I’ll go down any rabbit hole when it comes to this because you’ve got to learn it, you’ve got to understand it,” Emmer said last week in a phone interview, reprinted below, on his legislative efforts in the House of Representative. “You do have to play with it a little
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“We believe it will not directly affect the CP market due to the government-securities focus of Diem’s declared reserve allocation plan, but alternative allocation strategies remain possible and, depending on its scale, the operator may become an important participant in other short-term markets,” Fitch said. Original Source
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“Without proper regulation, these developments could amplify international shocks and undermine financial resilience globally,” Panetta said. “We could see risk-biased technological change, whereby the digitalization of finance favors business models that are riskier for the global economy.” Original Source
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It’s recently come to light that the U.S. Securities and Exchange Commission is investigating Circle, a principal backer of the popular USDC stablecoin. CoinDesk’s Danny Nelson broke the story by combing through filings Circle made in preparation of possibly going public. The scope of the watchdog’s investigation, which began last
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“The FDIC has strict rules as to which institutions may call themselves FDIC-insured or use the FDIC logo for advertising,” he said. “Just as how the FDIC’s logo on a bank’s website allows savers to be confident that the bank is a safe, insurance of particular stablecoins and permission to
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The Bank for International Settlements’ (BIS) says stablecoin payment systems should comply with international standards for payment, clearing and settlement.A new report published Wednesday by the BIS Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) includes preliminary guidance on how to apply the
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