Full-service platform allows user to seamlessly mint, manage, transact and redeem CBDCs and stablecoins SAN FRANCISCO–(BUSINESS WIRE)–With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies (CBDCs) as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes,
At least one state in the United States has proposed laws that would have far-reaching effects on the world of digital assets. In particular, a bill has been introduced in New York that would allow stablecoins to be used as payment for bail. If passed, Assembly Bill 7024 will update
A hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation” will be held by the US House Committee on Financial Services next week. The usefulness of stablecoins as a payment alternative may be the focus of the hearing. Users’ and the economy’s overall vulnerability is another issue
Andrew Bailey, the Governor of the Bank of England (BoE) commented that the Stablecoins should be regulated just like commercial bank money and Central Bank Digital Currency (CBDC) won’t be ruled away. This is termed with respect to the country that has started exploring digital pound issuance. Bailey said that
Q1 2023 goes down as the period that recorded significant recoveries in the cryptocurrency market. Bitcoin, Ethereum, and other altcoins displayed astounding rallies amid bank runs and Fed’s regulatory crackdown. Out of them all, stablecoins captured the major attention. The USDC brief depegging, due to Silicon Valley Bank (SVB) collapse,
Binance, the biggest cryptocurrency exchange in the world, has shifted its attention to the TrueUSD (TUSD) stablecoin. While regulators examine the Binance USD (BUSD). According to research conducted by Nansen, a cryptocurrency intelligence business. Binance has minted TUSD stablecoins worth over $130 million in the last week. Because of this,
Bloomberg claimed on January 26 citing anonymous sources that Moody’s was working on a scoring system for stablecoins. That would include assessments for up to 20 digital assets. Moody’s is a credit rating agency that publishes evaluations of credit risk. In the form of ratings for publicly listed firms. The
Stablecoins and CBDCs, issued by central banks, have captured the interest of governments throughout the world. Evidence for this comes from the fact that several nations are embracing CBDCs and launching pilot programmes to fully integrate them into daily life. Recent events include the introduction of a CBDC pilot programme
After hearing that the crypto exchange Huobi was laying off workers, Tron founder Justin Sun shifted $100 million worth of his stablecoins to the exchange. Nansen’s analysis of the blockchain shows that the funds were transferred from Binance to Huobi, a cryptocurrency exchange in which Sun has a controlling share.
Japanese authorities are reevaluating their stance on a number of key regulations. Pertaining to the usage of stablecoins like Tether USDT in the cryptocurrency market. Nikkei, a Japanese news outlet, stated on December 26. That the Financial Services Agency (FSA) of Japan will allow the domestic circulation of foreign-issued stablecoins
