As a move toward becoming a center for virtual assets, Hong Kong has suggested strict restrictions for stablecoins. But the new change might make things tough for widely used stablecoins. Tether (USDT) and USD Coin (USDC), according to experts, might be in jeopardy since the regulation is more stringent than
To propel the adoption of the USDC stablecoin and advance Web3 services in Japan, Circle, the renowned issuer of USDC stablecoin, has entered into a promising partnership with SBI Holdings, a prominent Japanese financial conglomerate. The collaboration was solidified with the signing of a memorandum of understanding (MOU) on November
A new research report from the Bank of International Settlements (BIS) details the institution’s growing worries about the stability of stablecoins. BIS expressed serious doubts regarding their dependability as both an investment and a medium of exchange in their study report. The research analyzes 68 stablecoins and finds that none
After its reserves of DAI were depleted, the value of the polygon-based stablecoin Real USD (USDR), which is backed by real estate holdings, plummeted to almost $0.51 within a few hours yesterday. On-chain data revealed by USDR’s creator, Tangible DAO, shows that the treasury has no DAI and that the
With an emphasis on stablecoins, the Canadian Securities Administrators (CSA) has offered guidelines to exchanges and cryptocurrency issuers on its preliminary approach to what it refers to as value-referenced crypto assets. Canadian provincial and territorial securities authorities issued a clarification on the possible trading of cryptocurrencies that peg their value
Whales, the influential players in the cryptocurrency market, are sending signals that could impact the current market trajectory. Crypto analytics firm Santiment has noted a significant trend– Whales are steadily reducing their holdings of stablecoins, which have hit a six-month low. This development is considered to have significant implications, as
B2BinPay launched a new v17 update, promoting seamless cryptocurrency transactions and improving your experience in the crypto world. B2BinPay is a reliable facilitator for merchants and enterprises that want to send or receive cryptocurrencies worldwide. Partner companies rely on B2BinPay for its smooth integration and simplified user interface, allowing companies
The Monetary Authority of Singapore recently unveiled its Stablecoin Regulatory Framework to strong international reception, buttressing the nation-state’s prominence as a cornerstone of the blockchain industry. It is thus befitting that Singapore has been selected as the venue of choice for the inaugural Stablecoin Summit, set to take place at
Coinbase, the leading crypto exchange, is increasing its support for stablecoins with an investment in Circle. Moreover, the stablecoin provider Circle and Coinbase will also maintain a commercial relationship. The two firms jointly launched the stablecoin USD Coin five years ago. Now the Circle will take full operational and governance
In recent days, the Federal Reserve has issued more guidance on cryptocurrencies. Adding to that, the FED released a press release announcing that it requires approval before the state bank can issue, hold, and transact stablecoin payments. These new rules on stablecoins come after PayPal announced its new stablecoin, PYUSD.
