Stablecoins

Bitcoin at 16-Month Low as UST Collapse Shows Risks of 'Algo' Stablecoins

Bitcoin at 16-Month Low as UST Collapse Shows Risks of ‘Algo’ Stablecoins

Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at $28,500, down about 7%, although it fared better than most other major cryptos, underscoring its status as a less risky option during tumultuous times for the wider digital assets market. Ether, the second-largest crypto by market cap, was also off, declining approximately 11% over …

Bitcoin at 16-Month Low as UST Collapse Shows Risks of ‘Algo’ Stablecoins Read More »

DeFi projects could come under SEC's oversight, says chairman Gensler

SEC chair Gensler calls for more regulation on stablecoins and crypto firms’ custody, market-making arms

advertisement The Securities and Exchange Commission is considering new firewalls for custody and market-making businesses at crypto firms and pushing for more SEC oversight of stablecoins. During an April 4 speech to the University of Pennsylvania’s law school, SEC chair Gary Gensler said:  “Unlike traditional exchanges, currently centralized crypto trading platforms generally take custody of …

SEC chair Gensler calls for more regulation on stablecoins and crypto firms’ custody, market-making arms Read More »

Fed releases new research on risk and promise of stablecoins

Fed releases new research on risk and promise of stablecoins

The Federal Reserve released a new research report on stablecoins today, noting the risks and potential of the emerging digital assets. In the report, researchers Gordon Liao and John Caramichael examine the current stablecoin ecosystem and the impact of stablecoins on credit intermediation and the central bank balance sheet. The paper identifies potential threats to …

Fed releases new research on risk and promise of stablecoins Read More »

BIS Report Questions Whether Stablecoins, CBDCs Can Create Risks in Developing Countries

BIS Report Questions Whether Stablecoins, CBDCs Can Create Risks in Developing Countries

The report’s authors question whether stablecoins could “offer lasting competitive advantages over rapidly developing, evolving digital payment services,” including digital ID, e-money and mobile banking. They add that stablecoins could generate new risks related to such issues as governance, efficiency in payment processes, consumer protection and data privacy. Source link

US Treasury Report to Give SEC Oversight on Stablecoins: Report

US Treasury Report to Give SEC Oversight on Stablecoins: Report

The U.S. Securities and Exchange Commission (SEC) may have moved one step closer to achieving significant oversight on stablecoins. According to a Bloomberg article on Monday, which cited people familiar with the matter, a report expected this week by the U.S. Treasury Department and other agencies will indicate that the SEC has significant authority to …

US Treasury Report to Give SEC Oversight on Stablecoins: Report Read More »

More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created

Ethereum was home to nearly 70 percent of all stablecoins as of January

2020 was a breakout year for the stablecoin ecosystem. As illustrated in The Block Research’s new stablecoin report — “Stablecoins: Bridging the Network Gap Between Traditional Money and Digital Value” — the total supply of stablecoins grew nearly ten-fold between January 2020 and January 2021. Monthly transaction volumes also swelled, growing from approximately $23.5 billion …

Ethereum was home to nearly 70 percent of all stablecoins as of January Read More »