As the world of cryptocurrency and stablecoins continues to evolve and gain mainstream adoption, the importance of implementing effective anti-money laundering (AML) practices becomes increasingly crucial. By adhering to AML regulations and guidelines, the crypto industry can establish greater credibility and trust among investors and regulators, ultimately leading to a
The market capitalization of cryptocurrency is on the verge of falling below $1 trillion. The peak of the global market cap was witnessed on April 2022, with a $2.67 trillion measure. Further, post the downfall of the algorithmic stablecoin TerraUSD and its sister coin LUNA on May 2022, the market
Crypto exchange Coinbase will disable the trading of Paxos-issued stablecoin Binance USD (BUSD) from March 13 around 12 PM ET. The exchange officially announced the delisting of Paxos-issued stablecoin on Monday on Twitter. We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on
New York regulators are reportedly investigating Paxos, the firm that issues the BUSD and USDP stablecoins. The Pax dollar (USDP) and Binance USD (BUSD), a stablecoin with the Binance name that is made available through a white-label service, are examples of Paxos’ stablecoins. Recent allegations about the federal bank regulator,
Kevin O’Leary, the Shark Tank famous television celebrity has made a sensational comment about the existing cryptocurrencies. On the wolf of all streets podcast show with Scott Melker, Kevin mentioned many of the cryptocurrencies would reach zero in no time. The session titled “Every Unregulated Token Will Go To Zero”
The credit card giant Visa aims to integrate Ethereum blockchain-powered solutions into its services. According to the firm, they have been experimenting with “how to accept payments from issuers in USDC on Ethereum and payout in USDC”. Additionally, there are large settlement payments. The President of the cryptocurrency division at
On the XDC chain, Fathom, the largest lending/borrowing platform has been built. Significantly, Fathom will provide a platform for consumers to borrow, and earn XDC and tokenized Real-World Assets (RWA) as collateral to borrow the over-collateralized price-stable currency FXD. The fundamental premise is the sustainable liquidity protocol, which is to
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
Paxos, a stablecoin issuer, considered paying MakerDAO a recurring charge for keeping up to $1.5 billion in Pax USD (USDP) stablecoin reserves. As per the proposal, to encourage the use of USDP within the Maker ecosystem and increase the USDP PSM Debt Ceiling to 1.5B USDP, Paxos will send MakerDAO
Australia’s second native currency-backed stablecoin is going to be live soon, as regulated banks around the globe are turning their focus over the stablecoins. National Australia Bank (NAB) has developed an AUDN, having a one-to-one peg with the Australian dollar. Australia and New Zealand Banking Group Limited (ANZ) released the
