MAS is actively enhancing its surveillance of the expanding cryptocurrency market. The central bank would soon consult the public on potential stable coin regulations. Tharman Shanmugaratnam, the minister in charge of the Monetary Authority of Singapore, said that the central bank evaluates stablecoin laws and that it will review the
The US and UK regulators collaborated to enlarge cryptocurrency regulation. The Working Group wants to strengthen regulatory outcomes for stablecoins across jurisdictions. According to a recent press release from the U.S Department of the Treasury, the Financial Regulatory Working Group of the U.K and the U.S, recently conducted an official
To issue stablecoins tied to real-world currencies, Bluejay Finance, a capital-efficient decentralized stablecoin protocol, has secured $2.9M in investment from Zee Prime Capital, C2 Ventures, Stake Capital Group, RNR Capital, Daedalus Angels, Moonlanding Ventures, Oval Ventures, and others. Operator angels include DeFi enterprises like Ribbon Finance, Flux, Voltz, and Alpha
The bill will provide standards for utilizing stablecoins. The regulator will have the authority to refund the victims. UK finance minister Zahawi announced that the long-awaited financial services and markets bill would be presented before parliament on Wednesday, in order to capitalize on the benefits of Brexit and transform the
Co-funded by the UK government’s R&D department, Millicent, a distributed ledger fintech business, has completed the world’s first test of a Full-Reserve Digital Currency (FRDC). With Millicent’s FRDC, the central bank receives 100% of the collateral in the form of liquid ‘cash’ deposits held in a ringfenced account under the
There will be no reserve factor for GHO interest payments. “Facilitators” have also been included as a notion in the plan. DeFi protocol AAVE proposes the creation of GHO, a native collateral-backed stablecoin tied to the US Dollar. The company behind AAVE, Aave Companies, has up a proposal for a
Argentine crypto exchange increased to 18% as it is always around 2%. The people have bought more DAI stablecoin to protect themselves. Argentine economy minister Martin Guzman resigned his post on Saturday. After he resigned the people are investing in the stablecoins three times more. Due to this inflammation that
The price of USTC reached the maximum limit of $0.099 on June 29. The coin has moved up from its All Time Low (ATL) to 1022.9%. The collapsed stablecoin TerraClassicUSD (USTC) by Terra, was trending for the last 7 days. The token reached the highest price value as much as $0.099,
The stablecoins are going low and belong to their peg. The market cap of stablecoin as of now is above $150 billion. The stablecoins in the cryptomarket are in total wobble, post the disastrous fall of TerraClassicUSD (USTC). One among those stablecoin is USDD by TRON DAO. The coin has
The request significantly differs from the daily average of 2k requests/5min. The company had received a ransom demand from the hackers. On June 18, a major denial-of-service assault targeted Tether, one of the world’s biggest cryptocurrencies, by market capitalization. Tether’s Chief Technical Officer, Paolo Ardoino, tweeted that the company had
