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
A bankrupt crypto lending company, Celsius Network, reveals about its file request to sell its stablecoin holdings. All the documents related to the case were submitted to the United States Bankruptcy Court Southern District Of New York. In addition, the lender company states it will sell its both existing and
The Polkadot parachain Acala implements the Horizon cross-chain stablecoin protocol. The attackers’ excessive minting of aUSD stablecoin caused its value to plummet. Many people see Polkadot as the next logical step for Ethereum’s ecosystem. While it has shown promise in certain respects, a major attack was discovered today using one
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
