Tag: Issuing

Belarus to decide on issuing CBDC by year’s end: National bank chair

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The National Bank of the Republic of Belarus has prepared a pilot program for a central bank digital currency (CBDC), according to the official BelTA news agency. The country will make a decision on the issuance of a digital Belarusian ruble by the end of the year, chairman of the national bank Pavel Kallaur said.   “By the end of the year, after discussions and consultations, we should determine the possibility and feasibility of introducing a digital ruble in our country,” Kallaur said. “The decision will be made at the…

Israel’s Central Bank Outlines Scenarios for Issuing a Digital Shekel

Scenarios that could influence a decision to issue a digital shekel include a decision by the U.S. or the European Union to issue CBDCs. A decline in cash usage, significant use of stablecoins, competition in the domestic payment system, and significant technological developments in payments systems could also sway the central bank’s decision to issue one. Source

UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

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The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.  The FSM bill, which had its second reading in the House of Lords in January, would give the PRA the new secondary objective of…

Prudential Regulatory Authority, the UK’s Banking Regulator, to Propose Rules on Issuing Holding Crypto

CryptoX – Cryptocurrency Analysis and News Portal New standards for PRA-regulated firms will be coherent with rules for other sectors, according to a footnote accompanying the text of the speech. The Basel Committee on Banking Supervision, the banking industry’s global regulator, published a standard on how banks should treat crypto exposure in December. Source The post Prudential Regulatory Authority, the UK’s Banking Regulator, to Propose Rules on Issuing Holding Crypto appeared first on CryptoX. CryptoX Portal

Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD

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Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng ‘CZ’ Zhao said in a Feb. 14 Twitter Spaces that Binance would look to “diversify” its stablecoin holdings away from BUSD. We’re live! Tune-in to our Twitter Space AMA with @cz_binance below https://t.co/bXIztCKdry — Binance (@binance) February 14, 2023 Despite minting nearly…

Paxos reportedly ordered to stop issuing Binance USD

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The New York Department of Financial Services (NYDFS) has reportedly ordered blockchain company Paxos Trust to stop the issuance of dollar-pegged Binance USD (BUSD) stablecoin.  The New York regulator’s actions come shortly after the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action. The notice alleged that Binance USD is an unregistered security. The NYDFS has reportedly asked Paxos to stop creating more of its BUSD token. Paxos will continue to manage redemptions of the…

Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil – Finance Bitcoin News

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Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade Iran’s central bank is considering the possibility of creating, with Russia’s participation, a digital token to facilitate trade in the Persian region, according to a report quoting the head of the crypto industry organization in the Russian Federation. The coin could be accepted…