Stablecoin regulation

Regulatory issues of stablecoins. Available as: PDF. 18 October 2019. This note sets out regulatory issues of stablecoins. The paper was delivered to G20 Finance Ministers and Central Bank Governors for their meeting in Washington D.C in mid-October Although regulation varies significantly between countries, stablecoins potentially raise at least four broad types of regulatory issues in a number of jurisdictions: • Money movement issues (e.g., money laundering, money services business regulation). • Investment and trading (e.g., regulation as securities or commodities) Since they combine several different functions, stablecoin arrangements may fall under different regulatory, oversight and supervisory regimes. Of particular importance to the ECB is the asset management function, which has the potential to be a significant source of risks to financial stability. Another important area is the transfer function, with the relevant components of a global stablecoin arrangement potentially falling under the Eurosystem's oversight regime for payment systems or. ECB wants final say on stablecoin issuance under new EU regulation. The European Central Bank (ECB) wants to have the final say on the issuance of stablecoins under EU regulation proposed in September. The ECB published its opinion on amendments for crypto-asset regulation last month to the European Council. This new regulation won't apply in the. At the same time, regulatory responses to global stablecoins should take into account the potential of other stablecoin uses, such as embedding a robust monetary instrument into digital environments, especially in the context of decentralised systems. Looking forward, in such cases, one possible option from a regulatory standpoint is to embed supervisory requirements into stablecoin systems themselves, allowing for embedded supervision. Yet it is an open question whether central.

In a joint statement at the Bundesbank Conference Friday, ministers said private stablecoin providers needed to adhere to European regulation and should not be allowed to operate in the bloc if.. FINMA gives here an initial indication of how it would apply the relevant Swiss regulation. Among projects based on blockchain technology, FINMA has observed an increase in the number of projects to create so-called 'stable coins' since mid-2018. The aim of such projects is mostly to minimise the fluctuations in value typical of payment tokens such as Bitcoin by backing the tokens with.

Regulatory issues of stablecoins - Financial Stability Boar

  1. Stablecoin sponsors should also be required to collaborate with the regulator to with the regulator to develop orderly liquidation plans. Regulation would turn stablecoin sponsors into a specific kind of ETF sponsor, reducing uncertainty around their business model
  2. A consultation on the government's approach to cryptoasset regulation, with a focus on stablecoins; and call for evidence on investment and wholesale uses
  3. regulatory treatment. Uptake in the usage of any stablecoin requires clear governance, including procedures to update the smart contracts at the core of the initiative and a cyber-security framework. Stablecoin initiatives with a clear governance framework could be subject to much warranted regulatory scrutiny and recognition. This may promote uptake in both the crypto- asset market and the broade

UK to Focus Regulation on Stablecoins Rather Than Crypto in General: Report The U.K. will focus on regulating stablecoins rather than cryptocurrency in general, according to statements made by a. Accordingly, the BOT has set out the following guidelines appropriate for the regulation of financial services involving stablecoins: 1. For Baht-backed stablecoins which are cryptocurrencies designed to minimize price volatility by pegging its value to the Baht and are intended to be used as a means of payment, such stablecoins may be classified as electronic money (e-Money) under the Payment. In addition, a stablecoin issuer would be subject to the following requirements: Notify the appropriate federal banking agency, the Federal Deposit Insurance Corporation (FDIC), and the Board of... Provide ongoing analysis to the Board, Financial Stability Oversight Council, and Office of. The FSB Stablecoin Regulation Proposal The substance of the proposal is not surprising. The proposal adopts a functional regulation approach, extending the regulatory perimeter in relation to.. The legislation would limit who can issue the stablecoins, noting that it shall be unlawful for any person to issue a stablecoin other than an insured depository institution that is a member of..

Stablecoin Regulations With the announcement of the proposed Libra digital currency in 2019, even skeptical officials were forced to accept that crypto assets are here to stay. Stablecoins are seen.. LONDON, June 7 (R) - The Bank of England said on Monday that payments with 'stablecoins' - a form of cryptocurrency usually pegged to a traditional currency - should be regulated in the same.. Why stablecoin regulations is a must Upon the fact that the crypto asset, stablecoin, has been enjoying a wide acceptance by some sectors of the masses, countries had resisted imposing any regulations on the sector until Facebook made it known of its intention to release the Libra stablecoin The Bank of England (BoE) said today that stablecoin payments should fall under the same regulations that payments handled by banks face. The BoE also said that it had made no decision yet on whether or not to issue its own central bank digital currency (CBDC). The prospect of stablecoins as a means of payment and the emerging propositions.

British Finance Minister Calls For Stablecoin Regulation. British Finance Minister John Glen said the country will first focus on regulating stablecoins rather than the larger cryptocurrency market, Speaking at a City and Financial Conference today, John Glen said authorities need to regulate stablecoins due to the threat it poses should a. British Minister Says Stablecoin Regulation is Priority A British government official stated that Britain's primary focus would be to regulate stablecoins, rather than the extensive cryptocurrency market. Stablecoins' Perceived Threat Propels Calls for Regulation Regulation, Legislation Loom For Stablecoin April 21, 2021 As the prominence and popularity of the stablecoin looms, so do regulations and increasing federal and other global regulations. Stablecoins present the first viable option for using cryptocurrency in regular transactions As a result, we find ourselves in a similar dilemma as with accustomed cryptocurrencies regarding a framework for stablecoin regulation and the approach therefore ought to be the same: each case requires to be determined based on its respective features, possibly on a substance over form approach as developed by the ESMA. As a result the material components rather than the formal name of.

Careful consideration needs to be given to the regulatory structuring of a stablecoin. Depending on its characteristics, the stablecoin may, for example, constitute a deposit, e-money, a debt or other form of security or a true and potentially unregulated cryptocurrency (aka an exchange token) under English law. The challenge is seeking to apply existing regulations to a novel set of. LONDON (R) -The Bank of England said on Monday that payments with 'stablecoins' - a form of cryptocurrency usually pegged to a traditional currency - should be regulated in the same way as. Stablecoin Regulation in The United States. Stablecoins are a subset of blockchain-enabled digital assets that seek to maintain price stability, often by pegging their value to another asset with a stable value, such as U.S. dollars. Since inception, the asset class has earned increasing attention, with more than 200 stablecoin projects. But stablecoin issuers do not have to follow the OCC guidance. Tether, for example, keeps its reserves in a small bank in the Bahamas . We need to strengthen the regulation of crypto-assets. BoE says 'stablecoin' payments need same rules as banks. David Milliken Tom Wilson. 4 minute read. 1/2. A bus passes the Bank of England in the City of London, Britain, February 14, 2017.

The stablecoin regulation landscape for 2020. With the announcement of the proposed Libra digital currency in 2019, even skeptical officials were forced to accept that crypto assets are here to. BoE says 'stablecoin' payments need same regulation as banks once it gains in use London; Follow Followed Unfollow. URL Copied; R, London . Published: 07 June ,2021: 03:44 PM GST Updated.

Stablecoins' Perceived Threat Propels Calls for Regulation. According to R on Tuesday (Mar. 30, 2021), Britain's Economic Secretary to the Treasury, John Glen, made the statement while speaking at a City and Financial conference. Glen's call for stablecoin regulation stems from the fact that the minister believes stablecoins are a. Why Stablecoins Are the First Battleground of the Coming Crypto Regulation Wars. The STABLE Act would force all stablecoin issuers to have bank licenses, a shot across the bow that portends an. Stablecoin regulation: G20 calls for implementation of regulatory standards. The Financial Stability Board (FSB) of G20 in its most recent release has reiterated the importance of global stablecoins regulations. This recent report follows the antecedent of its earlier report where it had elucidated on the standards of what a stablecoin should be regulatory responses to global stablecoins should take into account the potential of other stablecoin uses, such as embedding a robust monetary instrument into digital environments, especially in the context of decentralised systems. Looking forward, in such cases, one possible option from a regulatory standpoint is to embed.

Stablecoin arrangements are payment systems, insofar as they permit the transfer of value between stablecoin holders. Moreover, stablecoin arrangements can qualify as a payment scheme. [ 6 ] Just like any other payment system or scheme, if liquidity, settlement, operational and cyber risks are not properly managed, they may threaten the functioning of stablecoin arrangements and lead to. any particular jurisdiction's domestic regulation might apply to global stablecoin proposals. 2. Stablecoins This paper uses the term ' crypto-asset' rather than 'cryptocurrency' as it is a more neutral term that captures a broader range of tokens. Use of the term cryptocurrency could be regarded as unhelpful since these assets do not in general fulfil the core economic criteria of. Industry leaders say the proposed legislation would cripple innovation by subjecting the fiat-backed cryptocurrencies to traditional banking regulations The Stablecoin Tethering and Bank Licensing Enforcement—or STABLE—Act seeks to protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other Stablecoins currently offered in the.

BoE says 'stablecoin' payments need same regulation as banks. By Syndicated Content Jun 7, 2021 | 5:23 AM. LONDON (R) - The Bank of England said on Monday that payments with. EU Considers Stablecoin Regulation FRNT Financial. September 23, 2020 09:55 AM Crypto story of the day CRYPTO MOVERS AND PRICES . Bitcoin and Altcoin Prices by TradingView . Crypto is mixed this. the U.S. regulatory framework for oversight of stablecoin arrangementsto enable responsible innovation that protects end users and to address potential risks to the financial system. As U.S. authorities evaluate stablecoin arrangements, they may identify addit ional issues relating to authority and coordinat ion of U.S. regulatory activities A stablecoin is a type of cryptocurrency that is designed to have a stable value as compared with other types of cryptocurrency. 4. Some stablecoins are backed by a fiat currency, such as the U.S. dollar. Fiat-backed stablecoins can typically be exchanged for the underlying fiat currency, where one unit of the stablecoin can be exchanged for one unit of the underlying fiat currency. 5. In this.

A regulatory and financial stability perspective on global

Once they impose regulations on fiat-backed stablecoins, only then will censorship-resistance be valued in a stablecoin, and only then will assets like Dai, Celo, or ESD become a suitable. The bill text mandates that it will be unlawful for people to provide any stablecoin-related service, Legislation, Libra, News, regulation, Stablecoin. Share. Tweet. Share. Share. Share. Bank of Thailand reinforces stablecoin regulation. George Johnson. Baht-backed stablecoin issuers are required to consult with the Bank of Thailand before beginning operations, according to new guidance issued by the central bank. Over the past 18 months, stablecoins - a form of crypto asset which is pegged to another currency, commodity or. Complying with regulation, any GUSD or PAX stablecoin you use for illegal activity may be subject to seizure by or forfeiture to a law enforcement agency. Digix Gold. Digix Gold (DGX) is another centralized IOU stablecoin project, with gold collateral instead of fiat money. Each DGX token is backed by one gram of gold. Digix utilizes a Proof of Asset (PoA) consensus mechanism, a process that. Bank of Thailand to explore stablecoin regulation. March 19, 2021. by Ledger Insights. Today the Bank of Thailand (BOT) issued preliminary guidance on stablecoins and also requested input on potential regulatory guidelines. It split stablecoins into two buckets, the first being stablecoins backed by Baht currency which it considers e-money

ECB wants final say on stablecoin issuance under new EU

European countries call for EU stablecoin regulation Back to video. Stablecoins, a type of cryptocurrency often backed by traditional assets, pushed their way onto policymakers' agendas last year when Facebook unveiled its plans for the Libra token. Central banks and financial regulators feared Libra - originally planned to be backed by a wide mixture of currencies and government debt. Regulation of Stablecoin Trust Companies. Since the launch of TrueUSD, we have developed compliance procedures to meet regulatory requirements and provide legal protections for TrueUSD customers. Recently, the NYDFS released a statement regarding its regulation of two trust companies, Gemini Trust Company, LLC (Gemini and its stablecoin GUSD) and Paxos Trust Company, LLC (Paxos and its. BoE says 'stablecoin' payments need same regulation as banks Back to video The prospect of stablecoins as a means of payment and the emerging propositions of CBDC have generated a host of issues, BoE Governor Andrew Bailey said. It is essential that we ask the difficult and pertinent questions when it comes to the future of these new forms of digital money. Stablecoins are. The stablecoin market, a crucial link between crypto and traditional currencies, is facing calls for tougher oversight, with regulations on both sides of the Atlantic lagging behind the rapid. Bigg Digital Assets (BIGG.C) and Blockchain Foundry (BCFN.C) are working on creating a regulatory compliance solution for stablecoin creators. As originally announced in May of 2020, Bigg and Blockchain Intelligence Group (BIG) will launch a combined product offering to create scale, transparency, and security for stablecoins. BitRank Verified and Qlue will be integrated within [

U.S. lawmakers, however, have proposed strict regulation under the Stablecoin Tethering and Bank Licensing Enforcement (Stable) Act, which would require FDIC insurance or Federal Reserve deposits. The new bill in Congress aims to regulate stablecoin issuers by requiring them to obtain a banking charter. Education General Under current regulation in the United States, organizations that. Bank of England Proposes Regulation of Stablecoin Use As Payment Means June 8, 2021 by Anthonia Isichei at Regulation. The Bank of England (BoE) stated that stablecoin payments should receive the same regulations as bank payments, if the former gains widespread adoption. BoE Says Stablecoin Regulatory Framework Necessary in the UK According to R on Monday (June 7, 2021), the BoE in a.

Stablecoins: risks, potential and regulatio

  1. BoE says 'stablecoin' payments need same regulation as banks. The Bank of England said on Monday that payments with 'stablecoins' - a form of digital currency - would need to regulated in the same.
  2. BoE says 'stablecoin' payments need same regulation as banks By Syndicated Content Jun 7, 2021 | 5:23 AM LONDON (R) - The Bank of England said on Monday that payments with 'stablecoins' - a form of digital currency - would need to regulated in the same way as payments currently handled by banks if they become widespread
  3. Thailand's central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country's currency law. The Bank of Thailand (BOT) is currently working on a regulatory.
  4. JPMorgan Chase execs weigh in on stablecoin regulation, crypto competition . Add a Comment. Related Articles. Bank of Japan governor bashes Bitcoin, calls it speculative By BTC Peers - May.
  5. If a stablecoin is linked to a basket of fiat currencies, as proposed by Libra, the applicable regulation depends on who bears the market risk associated with the management of the currency basket. If the issuer bears it, this constitutes a deposit-taking business under banking law. If the token holders bears it, the stablecoin is considered a collective investment scheme
  6. Here we'll have a deeper look at Binance USD (BUSD) - fiat-backed stablecoin that was the first to receive regulatory approval from the New York State Department of Financial Services
  7. UK Cryptocurrency Regulations. Sachin Dutta. January 11, 2021. Compliance Insights. UK cryptocurrencies regulations allow users to buy and sell cryptocurrencies - but due to recent regulatory moves by the UK's financial regulatory, the FCA, trading of cryptocurrency derivatives are banned

European Ministers Call on EU Commission to Regulate

  1. regulation; chapter 2 outlines the government's proposed policy approach; chapter 3 sets out specific proposals with respect to cryptoassets used for payments purposes. 1.10 Finally, the call for evidence (chapter 4) seeks stakeholder views on a broader range of questions in relation to cryptoassets used for investment purposes and the use of DLT in financial services. In particular, it asks.
  2. The launch date depends on regulatory approval from FINMA, expected as early as January. A new name has been adopted for the association and the digital currency. December 4, 2020. 762. Australia & NZ Demand for Stablecoin, CBDC Not Yet Established: RBA. A retail CBDC could ultimately hurt commercial banks, as it would translate to a fall in deposits and a reduction in the availability of.
  3. Bank of England Governor Advocates for Stablecoin and E-Money Regulation. Stablecoins and pegged currencies will become of even greater importance moving forward. It is only normal to see this concept draw attention from regulators. Bank of England, for example, wants to regulate e-money as quickly as possible
  4. This letter permits U.S. financial institutions to hold deposits as reserves for stablecoins that represent fiat currency such as the U.S. dollar. The OCC regulates large national banks such as.
  5. Stablecoin regulation can be U.S's masterplan against China's E-Yuan. The importance of this current week has been fairly downplayed. Years down the line, the global payments system might look back at this particular period and suggest that this is where it all started. Let's jog our memories on what actually happened
  6. This week we dive into Tether, a stablecoin playing an important role in disrupting the legacy financial system, recently announced to be launching on Polkadot. Joe Petrowski, (Technical Integrations Lead, Web3 Foundation) speaks with Paolo Ardoino, CTO of Bitfinex and Tether. They discuss stablecoin trends, regulation and compliance with central banks, CBDCs (Central Bank Digital Currencies.

By Amara Khatri. Platinum Egg, Node Partner for IOST and game developer, has announced a Japanese Yen-pegged stablecoin, IRC-20 JPYA, based on the IOST blockchain. The JPYA stablecoin is pegged 1:1 to the Yen and can be purchased with IOST, BTC, ETH, and Yen. The stablecoin is the result of a long-term partnership between Platinum Egg and IOST Stablecoin issuers generally are not subject to Securities and Exchange Commission requirements (unless their stablecoin is considered securities, which may not be the case), banking regulation.

FINMA publishes 'stable coin' guideline

FSB publishes consultation on stablecoin regulatory challenges. The Financial Stability Board (FSB) has published 10 high-level recommendations to address what it calls the regulatory, supervisory and oversight challenges of stablecoins for consultation. The FSB wants a united response to stablecoins Bank of England lays down regulatory expectations for stablecoins. 07 June 2021. 11. 6. 1. The Bank of England says stablecoins used as money would be expected to face the same regulatory. Stablecoin Regulation in the United States. Susan Gault-Brown and Adam Fleisher authored the chapter, Stablecoin Regulation in the United States , in The Legal 500's Blockchain Comparative Guide. In this chapter, Susan and Adam discuss how stablecoin projects must work with regulators around the world to determine the appropriate regulatory. Stablecoin & Digital Payment System: Regulatory and Supervisory Considerations. MIFID II Reporter December 28, 2020 Regulatory Reporting No Comments. Monday, December 28, 2020. The President's Working Group (PWG), a federal interagency working group of financial regulators established by Executive Order in 1988, has issued a statement. Chancellor Rishi Sunak has put stablecoins and central bank digital currencies (CBDCs) front and center of the U.K.'s efforts to remain a financial

Regulation may be needed to address these externalities. There appear to be two significant externalities to holders. There is a risk they may be unable to redeem their stablecoins, at the agreed rate of exchange, for the reference assets backing their stablecoins. That inability not only would harm holders seeking currency redemption but also would impair the value of the stablecoins. Another. The stablecoin universe has reached nearly $40 billion in supply and, in January 2021, monthly transaction volume exceeded $200 billion. For all the headlines commanded by Bitcoin, the real story in cryptocurrency may be stablecoins, which present the best opportunity to allow digital assets to scale into everyday financial services. Stablecoins are emerging as the private sector's answer to.

Stabilising stablecoins: A pragmatic regulatory approach

Stablecoin regulations must be in place to address risks before any of the digital currencies are issued, according to the Group of 20 nations BofE governor calls for early stablecoin regulation. 04 September 2020. 18. 15. 6. As the momentum behind stablecoins gathers pace, the governor of the Bank of England has warned that regulators. The United Kingdom's Treasury Department has announced it is drafting private stablecoin regulation while it continues central bank digital currency (CBDC) research alongside the Bank of England. The UK Treasury has announced plans to regulate privately-issued digital currencies as well as continuing research into whether CBDC's present a viable alternative to cash. In the announcement on.

Financial Stability Board G20 Libra regulation stable coin stablecoin. Facebook Twitter Reddit Email LinkedIn WhatsApp. You may also like. Basel Committee proposes hefty capital requirements for bank crypto holdings, lighter for stablecoins. Bank of England outlines 4 regulatory approaches to stablecoins. G7 plans common CBDC 'principles', reiterates global stablecoin cooperation. UK Treasury drawing up stablecoin regulations. Sam Grant. November 10, 2020. Policy and Regulation. The UK has revealed that it is working on regulations for stablecoins as it pursues research on digital currencies. Yesterday, the Chancellor of the Exchequer Rishi Sunak announced that there will be forthcoming regulatory proposals for stablecoins. Sunak also mentioned that the department was. In a very interesting speech by Christina Segal-Knowles (the Bank of England's Executive Director for Financial Markets Infrastructure), it has been sug.. Ethereum 2.0 is an unexploded regulatory bomb. The proof-of-stake-focused Ethereum 2.0 has gone live, seemingly without a thought paid to whether the network's new system falls within the definition of securities for the purpose of the U.S. securities legislation. Given the massive penalties that can be levied for the offering of unregistered.

UK regulatory approach to cryptoassets and stablecoins

  1. The XM Research Desk, manned by market expert professionals, provides live daily updates on all the major events of the global markets in the form of market reviews, forex news, technical analysis, investment topics, daily outlook and daily vidoes
  2. United States OCC Approves Stablecoin Use by Banks. More great news rocks the crypto and blockchain space. This time around, the U.S. Office of the Comptroller of the Currency has greenlighted banks to carry out payments using stablecoins. The United States OCC made this announcement in an interpretive letter published on Monday, January 4, 2021
  3. Members of the US Congress announced on December 2 the proposal of a new consumer protection bill to increase the oversight and regulation of existing stablecoin issuers, potential stablecoin issuers, and stablecoin-related service providers. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, seeks to provide protection to unbanked and underbanked communities from fair.

Why is the Group Considering the Regulation? The document states that the group views stablecoins as a potential regulatory risk. The document states: Depending on its design and other factors, a stablecoin may constitute a security, commodity, or derivative subject to the U.S. federal securities, commodity, and/or derivatives laws. If so. Facebook's former Libra, now Diem project, is a private stablecoin that faced stiff regulatory backlash because it represented a powerful market actor that exceeds central banks. After all, Facebook has 2.85 billion users, far more than any single country on the planet. Although Libra/Diem would be pegged to the USD, it would be Facebook and its partners that would be issuing the Diem Dollar. Stablecoin . The stablecoin aims to be a digital asset fully collateralized one-to-one by GBP, which will allow participants to transact in a trusted and secure GBP-backed and denominated asset with the benefits of blockchain technology and the oversight of financial regulators DIRHAM Token (DAH) is a stablecoin like USDT and others. Acts as a clipboard for exchange and trading on the exchange. Determined by the value of the fiat currency dirham (AED) / dollar (USD) and.

UK to Focus Regulation on Stablecoins Rather Than Crypto

All information you need for stablecoin regulation. In today's top news in digital-first banking, the Office of the Comptroller of Currency (OCC) has OK'd independent node verification networks (INVNs) and stablecoins for federal banks, while multiple states are suing a banking watchdog over the true lender regulation Reserve stablecoin protects itself from inflation, disruptive governance decrees and forced institutional regulation by diversifying its asset backing. The asset-backed coin uses independent. Stablecoin Demand in 2021 Skyrockets, Fiat-Pegged Token Economy Nears $100 Billion While most cryptocurrency markets are down today in value, dollar-pegged stablecoins have seen significant demand.

Stablecoins Regulation Polic

Tron (TRX) et Tether (USDT) : un stablecoin basé sur TRX

US Lawmakers Propose Stablecoin Regulation - Publications

The Daily Gwei Refuel gives you a recap every week day on everything that happened in the Ethereum and crypto ecosystems over the previous 24 hours - hosted. INX Limited has announced a partnership with GMO-Z.com Trust Company, Inc. The collaboration aims to offer the world's first regulated stablecoin backed by the Yen or GYEN and made available to. Diem says it will 'fade out' stablecoin if Fed issues CBDC. The chief economist of the Diem Association, the Facebook-backed crypto asset firm, said it would fade out its stablecoin if the Federal Reserve issued a central bank digital currency (CBDC). Diem, formerly known as the Libra Association, was originally founded by Facebook in. As for which assets we choose to support, that is determined by the usage, regulations, and maturity of the blockchain and asset in question. When it comes to other sovereign digital assets, it's all down to regulation; if regulation allows, we may choose to support that currency. Whether or not China's Digital Yuan will be available to US customers will be up to the US Government, not us. Continue reading European Central Bank Calls for Proactive Stablecoin Regulation The post European Central Bank Calls for Proactive Stablecoin Regulation appeared first on CoinTelegraph. Bitcoin (COIN:BTCUSD) Intraday Stock Chart Dienstag 8 Juni 2021 Kürzlich von Ihnen besucht LSE. GKP Gulf Keyst.. LSE. QPP Quindell.

Summary. The Gemini dollar, or GUSD, is the one of the first U.S. dollar-backed stablecoins to get approval from a U.S. regulatory body. It is an ERC-20 token built on Ethereum. Tyler and Cameron Winklevoss led the creation of this stablecoin, which is issued by Gemini Trust Company LLC, which from inception has elected to fully comply with New. There's always a light at the end of the tunnel and so it has been for the Facebook Diem project, formerly Libra! On Wednesday, May 12, Facebook's digital currency group Diem Association announced the launch of its USD-pegged stablecoin dubbed Diem USD. After going back and forth, facing major regulatory walls, making multiple tweaks European Central Bank (ECB) has been spooked by the gapping loopholes in their Stablecoin regulations. They have acknowledged that due to the different nature of the various stablecoins they may fail to fall under their current regulatory framework. ECB's recent remarks on stablecoins, highlight major gaps in their regulations According to the European Central Bank, a panicked stablecoin run' could cause damage that spreads into the traditional banking and financial system Specifically, the ECB said stablecoins are vulnerable to so-called liquidity runs if consumers fear that the token may lose its value. In such instances, the stablecoin may stop functioning normally and its redemption may not be. Tether, the largest stablecoin by market cap, has reached a milestone by issuing 30 billion USDT on top of th

Bitfinex Transfers Tether (USDT) Stablecoin Worth $1

Stablecoin Regulation — The FSB Proposal by Barbara C

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