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If a majority of the five-member SEC panel votes in favor of the draft proposal, it will proceed to the next stage, which will be reviewed by other members of the SEC. Go to Source Powered by WPeMatico
Crypto financial service Matrixport’s head of research believes regulators are not targeting all stablecoins with the regulatory crackdown on BUSD issuer Paxos. Go to Source Powered by WPeMatico
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD … Read more
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time … Read more
The bank for central banks is expanding its CBDC research while developing a platform to monitor stablecoin balance sheets. Go to Source Powered by WPeMatico
Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation. Go to Source Powered by WPeMatico
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red … Read more
An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing … Read more
Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like … Read more
The current BTC price boost may not be a natural phenomenon any longer, new research says. Go to Source Powered by WPeMatico