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“The Council recommends that state and federal regulators review available regulations and tools that could be applied to digital assets,” says the FSOC. Go to Source Powered by WPeMatico
Mastercard is taking a slow but steady approach to bridging the realm of fiat and cryptocurrencies. Go to Source Powered by WPeMatico
“Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” said Jerome Powell. Go to Source Powered by WPeMatico
As cryptocurrency markets continue to trade sideways this weekend, quite a few coins are seeing double digits price gains. Today’s biggest gainer is Venus (XVS), rising over 27% in the past 24 hours, ranking it the biggest gainer on Crypto.com. What Is Venus cryptocurrency, and why is the XVS price rising? Let’s find out. What … Read more
He clarified that it’s mostly fiat money stablecoins that bear the brunt of this regulatory scrutiny. Go to Source Powered by WPeMatico
During the last week of November, the stablecoin economy had crossed the $150 billion mark for the first time with tether and usd coin dominating the pack. In a mere ten days, the stablecoin economy gathered another $11 billion in value with origin dollar and terra usd swelling significantly during the last 30 days. $11 … Read more
Japan’s top financial regulator, the Financial Services Agency (FSA), is reportedly planning to propose legislation to restrict stablecoin issuance to banks and wire transfer companies. Crypto service providers involved in stablecoin transactions, including wallets, will also be brought under the financial regulator’s oversight. Japan to Tighten Stablecoin Regulation Japan’s Financial Services Agency (FSA) is planning … Read more
The move comes as the Bank of Japan wants to roll out a digital yen CBDC by the end of next year. Go to Source Powered by WPeMatico
A great number of cryptocurrencies dropped considerably in value during the early morning hours (after 12:00 a.m. EST) on December 4. At the time of writing, the crypto economy is down more than 16% and the price of bitcoin slid below the $50K zone to a low of $43,972 per unit. Since then, bitcoin has … Read more
Quarles said some of the approaches on stablecoin regulation from the President’s Working Group on Financial Markets’ November report are unnecessary. Go to Source Powered by WPeMatico