Amid the ongoing depeg of stablecoins in the past and present. Along with several collapses of crypto firms, regulators around the globe are looking for legislation to regulate the crypto sector. Pennsylvania Senator Pat Toomey is leaving office this month. The Senator discreetly proposed new cryptocurrency legislation a week after
The debate upon the stablecoins has been the most anticipated topic for the year 2022. Most people know very well that the crypto industry is indeed an extremely volatile industry along with extreme insecurities, being the situation in recent times desperately. The stable coins were always said to be a
Justin Sun, the founder of Tron, plans to provide a “holistic solution” to alleviate the liquidity crisis facing FTX. Meanwhile, on-chain data indicated that the algorithmic stablecoin USDD has unexpectedly begun depegging and was last trading at $0.98. A previous response from Justin Sun indicated that it is likely that
Customers of the cryptocurrency exchange Crypto.com were informed today via an email that all deposits and withdrawals for the USDT and USDC tokens from Circle and Tether have been halted on the Solana network. Though the email said that the freeze would take place immediately, it did not specify why
FTX exchange plans to create stablecoin. FTX Token traded at $24.55 with a price surge of over 8% in the previous week. FTX one of the prominent cryptocurrency exchange CEO Sam Bankman-Fried stated, in a recent interview that the company is presently working to create a stablecoin. Stablecoin is known
In 2022, euro-denominated digital assets have gained in popularity and many experts believe that the formation of this new sector will against all odds become a cornerstone for the future economy. The stablecoin economy is worth roughly $150+ billion today, with euro-backed stablecoin issuance experiencing a drastic increase of 1,683%
As per Gensler, the control over stablecoins will reduce the risk to the financial system. Gensler says the CFTC lacks the direct authority to impose regulations over stablecoin issuers. According to Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), the U.S. Congress should give more authority
The Celsius stablecoin sale plan is oppose by Texas and Vermont regulators. A hearing on the issue is schedule for October 6. The Texas State Securities Board and the Vermont Department of Financial Regulation filed objections to Celsius’s intention to dispose of its stablecoin assets to bolster its finances in
The draft for regulation bill is in circulation among the U.S Representatives. The inclusion of stablecoins in the major payment portals makes it very common. U.S House of Representatives will slightly implement the regulatory bill on stablecoin by the end of 2022. The talk about the regulation draft came to
Draft for regulating stablecoins is seemingly to ban algorithmic stablecoins. Strict regulation to follow for both banking and non-banking issued stablecoins. U.S House of Representative draft for stablecoins regulation is seemingly to ban algorithmic stablecoins for two years, as per the draft received by Bloomberg. The voting is expected to
