From payments to DeFi: A closer look at the evolving stablecoin ecosystem
The stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape. Go to Source
Stablecoin
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Terraform co-founder Shin blames protocol for collapse during trial in S. Korea
Daniel Shin claimed he and Do Kwon parted ways before the collapse of the Terra/Luna ecosystem was imminent and he had nothing to do with it. Go to Source
UK publishes plans for stablecoins regulation
Non-fiat-backed stablecoins will not be allowed into regulated payment chains. Go to Source
Brazil’s USDT adoption soars in 2023, makes up 80% of all crypto transactions
USDT has seen a significant surge in adoption in Brazil, accounting for 80% of all cryptocurrency transactions in the country so far in 2023. Go to Source
Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE. Go to Source
Stablecoin market escaping US regulatory oversight: Chainalysis
Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis. Go to Source
Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better
Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated. Go to Source
Binance US asks users to convert USD into stablecoins for withdrawals
Binance.US users “may convert” their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts, the firm said. Go to Source
Canada central bank assesses innovations and challenges of DeFi
The staff note suggested that although the DeFi ecosystem brings a ton of innovations in the financial sector the regulatory challenges and vulnerability limit its potential use in traditional finance. Go to Source
TrueCoin’s third-party vendor breach potentially leaks TUSD user data
TrueCoin’s internal systems were not impacted or accessed, and the company confirmed that the attack was an isolated incident and limited to a third-party vendor. Go to Source