Stablecoins

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BIS Chief Banker Criticizes Bitcoin as Inherently Risky, Says BTC Vulnerable to 51% Attack

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Bank for International Settlements (BIS) general manager Agustin Carstens has criticized bitcoin saying the asset was inherently risky and “increasingly vulnerable” to a 51% attack. A long time bitcoin (BTC) skeptic, Carstens stressed that only central banks should be issuing digital currencies. “Investors must be cognizant that bitcoin may well break down altogether,” he opined, … Read more

Study: 60% of Digital Asset Holders Store Funds on Exchanges While Half Derive an Income From Crypto

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Despite the risks that come with storing crypto assets with third parties, the findings of a new study suggest many cryptocurrency holders still trust exchanges with the safekeeping of their funds. Conducted by Binance Research, the study finds that 60% of “the general population store their cryptocurrencies on an exchange.” In contrast, 26% of the … Read more

Anchorage Obtains Federal License to Operate as Crypto Bank From the OCC

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The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to crypto custodian Anchorage to launch the first federally chartered digital asset bank in the country. In a statement on Jan. 13, 2021, the OCC said the company received the national trust banking charter, which allows it to create Anchorage Digital … Read more

UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach

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Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to … Read more

Ukraine Chooses Stellar Foundation to Develop Its CBDC, Regulatory Infrastructure for Stablecoins

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The Ministry of Digital Transformation of Ukraine has picked the Stellar Development Foundation (SDF) to develop its central bank digital currency project (CBDC). Ukraine Picks Stellar Foundation to Develop Its Central Bank Digital Currency and National Virtual Asset Strategy According to the official announcement, both parties signed a “Memorandum of Understanding” to deploy Ukraine’s crypto … Read more

Top US Banking Regulator: Banks Are Authorized to Use Public Blockchains and Stablecoins for Payment Activities

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The top banking regulator in the U.S. has announced that national banks and savings associations in the country can use public blockchains and stablecoins for payment activities. Experts say this is good for bitcoin and its importance should not be understated. Banks Can Use Public Blockchains and Stablecoins The Office of the Comptroller of the … Read more

Economics Professor Tyler Cowen Says Cryptos Useful as Hedges or Forms of Payments – ‘Not Both’

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Tyler Cowen, an economist and professor at George Mason University, has suggested that the key use cases of cryptocurrencies are mutually exclusive. He argues that cryptos can either be important inflation hedging tools or useful forms of payment but not both. The Regulation Threat The professor adds that despite the popular assertions by some that … Read more

Russian Parliament Foresees a Wave of Token Issuance for 2021 in the Wake of Crypto Law Promulgation

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The head of the Russian parliamentary committee on financial markets and the country’s first crypto law’s author is forecasting a “surge in token issuance” for 2021 in the wake of the promulgation expected to take place in January. Russian Parliament Expects a ‘Surge in Token Issuance’ for 2021 After Crypto Law Promulgation According to the … Read more

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