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
Stablecoin
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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
Tether freezes $873,000 USDT linked to terrorist activity in Ukraine, Israel
The stablecoin issuer freezes addresses containing $873,000 USDT linked to illicit activity in Israel and Ukraine. Go to Source
Tether stablecoin firm appoints CTO Paolo Ardoino as CEO
The change in leadership at Tether reflects its commitment to actively exploring new business operations, the company said. Go to Source
Japanese yen-backed digital currency, DCJPY, to go live in July 2024
A group of Japanese companies, united behind the DeCurret brand, intends to launch the coin in July 2024. Go to Source
USDR stablecoin depegs to $0.53, but team vows to provide solutions
Real-estate-backed stablecoin USDR fell to $0.53 per coin on Oct. 11, but the team said it was merely a liquidity issue and that real estate holdings and digital assets will be used to support redemptions. Go to Source
Retail stablecoin trading in Hong Kong not allowed yet, official says
Hong Kong will not allow retail investors to trade stablecoins until they are officially regulated, which is projected to happen by the end of 2024. Go to Source
Dirham stablecoin DRAM hits Uniswap, developed by relaunched Distributed Technologies Research
Distributed Technologies Research has launched DRAM, a Dirham-backed stablecoin that aims to tap into the performance of the United Arab Emirates fiat currency. Go to Source