21 / 34 Relevant items tagged with #stablecoin
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Coinbase Acquires Equity Stake in Circle; Companies Reshape USDC’s Future
[Aug 22, 2023 3:00 AM] In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally…
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
[Aug 21, 2023 8:12 AM] Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.
Farmington Bank Faces Fed Wrath: Alameda-Backed Financial Institution Ordered to Shutdown
[Aug 21, 2023 12:30 AM] In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s…
Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined
[Aug 19, 2023 1:25 AM] The DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past week, just weeks after the Curve Finance exploit.
Bitcoin Dips Below $26K in Crypto Market Whirlwind; $1 Billion Liquidated Amid Top Coins’ Tumble
[Aug 17, 2023 6:00 PM] Bitcoin’s value briefly slipped below the $26K threshold at 5:50 p.m. Eastern Time on Thursday before swiftly rebounding past the $26,000 benchmark. Concurrently, the expansive crypto landscape experienced an 8% tumble against the U.S…
Tether discontinues Bitcoin stablecoin, citing lack of usage
[Aug 17, 2023 2:43 PM] The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year.
Bybit Announces ‘Imminent’ Listing of Paypal’s PYUSD Stablecoin
Ledger Taps Paypal for US Crypto Buys
[Aug 16, 2023 11:30 PM] Crypto security firm and hardware wallet manufacturer, Ledger, announced its integration of Paypal payments for U.S. customers. This will allow Ledger Live users to buy bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC) within…
How PayPal Upended the Crypto Debate in Washington D.C.
[Aug 16, 2023 1:42 PM] The fintech giant’s PYUSD stablecoin has forced a rethink among Democratic policymakers who previously resisted federal legislation, says John Rizzo.
Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
[Aug 16, 2023 1:30 PM] In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their…
Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens
[Aug 16, 2023 3:30 AM] The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated”…
Singapore Wraps Up Stablecoin Framework: Pathway to Global Adoption?
[Aug 15, 2023 7:00 AM] The Monetary Authority of Singapore (MAS) has unveiled the features of a new regulatory framework aimed at ensuring a high degree of stability for stablecoins in the country. This is the outcome of the central bank’s public consultation, which…
Singapore's Central Bank Releases Stablecoin Regulatory Framework
[Aug 15, 2023 5:42 AM] Stablecoins must hold minimum base capital 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request.
Singapore central bank releases regulatory framework for stablecoins
[Aug 14, 2023 11:45 PM] The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore.
Crypto highlighted as ‘novel and complex’ risk to US banks: FDIC report
[Aug 14, 2023 9:04 PM] The Federal Deposit Insurance Corporation has warned that uncertainty around crypto's legal status, the likelihood of fraud and contagion present key risks to United States banks.
PayPal’s Stablecoin Not Likely to Be Used Widely Anytime Soon: Bank of America
[Aug 11, 2023 5:02 AM] Investors are likely indifferent to which stablecoins they hold as long as they are perceived as safe and accessible on the largest trading platforms, the report said.
Circle preps $1B war chest to deal with market threats from PayPal and others
[Aug 10, 2023 11:15 AM] Circle’s USDC stablecoin has dropped from $45 billion in circulation at the start of 2023 to just $26 billion as the summer winds down.
Stablecoins could be key to upholding US dollar’s global reserve status: Report
[Aug 10, 2023 9:25 AM] In an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoin legislation is crucial to redollarizing the world.
Are Reports Linking the 11th Largest BTC Wallet to Tether a Myth? Cryptoquant Analysis Reveals Discrepancies
[Aug 10, 2023 8:00 AM] In the wake of recent claims that Tether, the company behind leading stablecoin USDT, holds the 11th largest bitcoin (BTC) wallet, Cryptoquant, a blockchain intelligence firm, has expressed skepticism. Citing inconsistencies in onchain data…
US Congresswoman Raises Concerns About Paypal Stablecoin In The Absence Of Regulation
[Aug 10, 2023 6:00 AM] Earlier this week, popular American payment giant Paypal unveiled the launch of its USD-pegged PYUSD stablecoins to investors. In response, Democrat congresswoman Maxine Waters has raised palpable concerns that may or may not threaten the…
US House Financial Services Committee leadership takes opposing sides on the PayPal stablecoin
[Aug 9, 2023 1:10 PM] Rep. Maxine Waters said she was “deeply concerned” about PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it “hold[s] promise.”
PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits
[Aug 9, 2023 10:33 AM] High U.S. Treasury interest rates are a powerful short-term motivator. Everything else is theory.
Binance drops majority of USD Coin reserves — Latest USDC news
[Aug 9, 2023 10:30 AM] This week’s episode of The Market Report explores the reasons why Binance let go of a majority of its USDC reserves and what it replaced them with.
Can PayPal’s PYUSD Be Frozen In Your Wallet Like Tether’s USDT?
[Aug 8, 2023 4:00 PM] PayPal and Paxos dominated the news cycle on Monday with the announcement of the launch of the PayPal (PYUSD) stablecoin, but concerns have been raised about the possibility of user assets being frozen in their wallets, as is the case with USDT…
A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media
[Aug 8, 2023 12:30 PM] At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the…
Obligatory license for stablecoins? What do the latest FSB guidelines mean
[Aug 8, 2023 8:30 AM] FSB starts from the definition of “global stablecoin”, which serves as a means of payment and storage and has the potential for adoption across multiple jurisdictions.
Japanese startup to use stablecoins and CBDC to link Asian countries
[Aug 8, 2023 7:37 AM] Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia.
First Mover Americas: Market Doesn't React Much to PayPal Stablecoin
[Aug 8, 2023 6:26 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for August 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bank of England will get more power in regulating stablecoins
[Aug 8, 2023 5:45 AM] The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority.