A proposed U.S. national defense bill could subject stablecoins issuers to KYC and AML requirements they would be unable to comply with, said Berenberg analyst Mark Palmer.
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Category: stablecoin regulation
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Draft US stablecoin bill would ban new algo stablecoins for 2 years
It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.
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UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown
The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the […]Powered by WPeMatico
SEC Commissioner Expects Tighter Stablecoin Regulation — Yellen Says Stablecoins Not Real Threat to Financial Stability
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco […]Powered by WPeMatico
US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco
As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently […]Powered by WPeMatico
Bipartisan bill to give CFTC authority over exchanges and stablecoins
The Digital Commodity Exchange Act would give the commodities regulator the authority to determine rules for cryptocurrency developers and exchanges offering spot trading.
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US Senator Says Defi Is the Most Dangerous Part of Crypto – Urges Regulators to Clamp Down Before It’s Too Late
U.S. Senator Elizabeth Warren has called on regulators to clamp down on decentralized finance (defi) and stablecoins “before it’s too late.” She said: “Defi is the most dangerous part of the crypto world … it’s where the scammers, the cheats, and the swindlers mix among the part-time investors and first-time crypto traders.” US Senator Urges […]Powered by WPeMatico
Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking Regulation
Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers […]Powered by WPeMatico
If Stablecoins Are Going to Be Regulated Like Banks, They Should Enjoy All the Benefits
The U.S. Treasury Department proposed regulating stablecoin issuers as banking institutions, which may be a great idea if stablecoin issuers are offered the same privileges as regulated banks. US Treasury Department Report: Stablecoins Regulation Is Urgently Needed The rise of stablecoins within the crypto ecosystem serves as a glaring reminder that cryptocurrencies and blockchain technology […]Powered by WPeMatico
SEC expected to head U.S. stablecoin regulation and enforcement
The report is also expected to clarify the regulatory jurisdiction of the Treasury Department CFTC with regards to stable tokens.
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