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Stablecoins – Page 16 – DIGIT INFO

Stablecoins

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Basel Committee Gives Permissioned Stablecoins ‘Preferential Treatment’ in Amended Crypto Asset Standard Amidst Heavy Criticism

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The Basel Committee, responsible for setting standards for bank regulation, has revised its crypto asset standard, introducing new considerations that impact stablecoins. The updated standard favors permissioned stablecoins, such as JPM Coin, over those issued on public chains. This has elicited criticism from figures in the crypto community, who accuse the committee of attempting to … Read more

Caliza Raises $8.5 Million to Ease Cross Border Payments Using USDC in Latam

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Caliza, a fintech company headquartered in the U.S. but focused on Latam, has raised $8.5 million in a funding round led by Initialized, seeking to expand the reach of its foothold in Brazil. The company offers B2B solutions focusing on USDC, Circle’s regulated stablecoin, providing rails for easing cross-border payments for its customers. Caliza Raises … Read more

US Treasury ‘Very Attentive’ to Russia’s Use of Cryptocurrency, Yellen Says

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U.S. Treasury Secretary Janet Yellen has addressed concerns about Russia using cryptocurrency to evade sanctions. During her testimony before the House Financial Services Committee, Yellen acknowledged the potential threat, noting that while it may not be a significant issue now, it could become more concerning as sanctions intensify. Yellen: We Are Very Attentive to the … Read more

Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF

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Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF update, 60% (88 jurisdictions) have decided to permit virtual asset service providers (VASPs), while 14% (20 jurisdictions) explicitly prohibit them. The FATF … Read more

Digital Assets Thrive in H1 2024, CME and Glassnode Report Finds

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Digital assets showed significant growth in the first half of 2024, driven by increased institutional interest and the approval of spot bitcoin ETFs. According to a report from CME Group and Glassnode, these factors have cemented digital assets as a crucial asset class with unique opportunities and inherent risks. Institutional Interest Drives Digital Asset Growth … Read more

Bank of Russia Discusses Conditions of Upcoming Stablecoin Regulation

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The Bank of Russia has highlighted the conditions it will need to consider when regulating the use of stablecoins for Russian individuals and companies. The bank stated that before a regulation is enacted, a thorough study of these assets and a discussion with the relevant actors of the market and the community around them should … Read more

Cryptoquant Report: Bitcoin Whales Buy Aggressively as Price Hits 4-Month Low

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Bitcoin’s recent price dip to a four-month low has triggered significant losses for new and large investors. This development, combined with mixed market signals, suggests the leading crypto asset is at a critical juncture, according to the latest Cryptoquant report. Market Signals Mixed as Bitcoin Hits $53K: Whales and Miners Influence Future Bitcoin’s recent price … Read more

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