Here are the key issues as the House Financial Services Committee hears testimony about stablecoin regulation.
What’s in the House Financial Services Committee’s Stablecoin Bill?
The House Financial Services Committee has finally unveiled its stablecoin legislation, proposing a framework for stablecoin issuers such as Circle and Tether to define how their offerings can be regulated by state and federal entities, while calling for a temporary ban on algorithmic stablecoins.
BoE Considers Limits on Stablecoin Payments as Parliament Debates New Crypto Rules
The Bank of England plans on releasing a consultation proposal by the end of the year, Jon Cunliffe said at Innovate Finance’s annual global summit.
Centralized Stablecoins Are Problematic. Is a Decentralized Alternative on the Way?
USDC and USDT both have issues that truly decentralized, blockchain-based protocols are designed to solve.
Flatcoiners should take a cue from TerraUSD’s fate
Flatcoins need to provide a more stable and decentralized alternative to traditional currencies — otherwise, they’re nothing but investment vehicles.
Stablecoins Need to Be Regulated Like Commercial Bank Money, Bank of England’s Andrew Bailey Says
The central bank governor also said regulators can’t rule out central bank digital currencies.
US needs to regulate stablecoins to keep a strong dollar: Stellar CEO
The United States and the greenback will suffer if stablecoin regulations are not rolled out this year, Stellar Development Foundation’s chief has claimed.
Stablecoin Issuers, Conglomerates Targeted by IMF After Crypto’s ‘Rough Year’
FTX and collapses like Signature, Silvergate and Silicon Valley Bank show need for stronger consumer protection, governance norms, the International Monetary Fund said in its Global Financial Stability Report
Stablecoin Tether’s Market Capitalization Nears Record High of $83B
Tether’s market cap has increased by 20% this year mainly on account of aggressive issuance on Ethereum’s rival Tron.
USDC Boasted Transparency but It Didn’t Help When Silicon Valley Bank Got Into Trouble
The stablecoin offers greater transparency than competitors like Tether, but, unfortunately, that proved of little value as it was de-pegged during the recent banking crisis, says JP Koning.
Tokenized Gold Surpasses $1B in Market Cap as Physical Asset Nears All-Time Price High
Tokenized gold is a type of stablecoin that pegs its price to gold, while the tokens on the blockchain represent ownership of physical gold managed by the issuer.
Tether Gained Access to U.S. Financial System Using Signature Bank: Bloomberg
Tether CTO Paolo Ardoino, in response to the article, said the company has no exposure to Signature Bank.
PayPal and the credit card industry are taking advantage of consumers
Stablecoins offer a way for consumers — particularly Americans — to escape the financial industry’s punitive transaction fees.
USDC’s Depeg Laid Bare the Risks Traditional Finance Poses to Stablecoins
A Moody’s analyst examines how the recent banking crisis spilled into crypto, and why alternatives to stablecoins like tokenized bank deposits and CBDCs may be needed to prevent contagion.
TUSD Stablecoin Daily Trading Volume Surpasses $1B After Binance Boost
The surge follows Binance’s decision a week ago to eliminate the zero-fee trading discount on the platform except for the BTC-TUSD pair.
Why did 12K Bitcoin margin longs close at Bitfinex, and why didn’t it impact BTC price?
An unprecedented number of BTC margin longs recently closed at Bitfinex, leaving analysts searching for explanations.
Circle’s USDC Remains Dominant in DeFi as Pressure Eases on the Stablecoin
USDC, the key stablecoin in decentralized finance, temporarily lost its dollar peg earlier this month after the collapse of its key banking partner.
What the Bank of England’s Stablecoins Regime Could Look Like
The Bank of England’s upcoming crypto regime would try to ensure that funds are returned to customers when certain crypto firms enter a crisis.
Macro Is Back to Moving the Digital Asset Markets
Bitcoin Has Benefited From U.S. Dollar Liquidity to Support Banks: Morgan Stanley
Traders on Binance now set the daily price for BTC with the crypto exchange’s share of trading volume reaching 80%, the report said.