“Today I had hoped to announce an agreement with the ranking member on stablecoins legislation,” McHenry said, referring to the committee’s senior Democrat, Maxine Waters (D-Calif.). “This will not be the case… It was the White House’s unwillingness to compromise that has once again brought that negotiation to a halt.” Source
Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s Stablecoins Ratio metric — and the results have always been positive for BTC price action. As noted by market cyclist and on-chain analyst Cole Garner, when denominated in U.S. dollars, the Stablecoins Ratio for exchange Bitfinex recently…
Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s stablecoins ratio metric, and the results have always been positive for BTC price action. As noted by market cyclist and on-chain analyst Cole Garner, when denominated in United States dollars, the stablecoins ratio for exchange Bitfinex recently…
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First Digital USD (FDUSD), a newly introduced stablecoin scheduled to make its debut on Binance on Wednesday has now faced a halt due to technical difficulties. A Bumpy Start To The FDUSD Journey The expected listing of FDUSD on Binance was initially set for July 26, 2023. To incentivize traders, Binance planned to offer zero maker fees for all FDUSD trading pairs. However, due to technical issues encountered by the FDUSD pairs’ liquidity providers, the launch was postponed. Related Reading: Binance Pool’s Litecoin Hash Rate Falls 50%: What’s Next? Trading…
The recently introduced stablecoin, FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at 2023-07-26 14:00 (UTC) due to FDUSD pairs’ liquidity providers experiencing technical issues. Binance released a statement that it will halt trading for First Digital USD (FDUSD) on 2023-07-26 09:45 (UTC) and cancel all pending FDUSD orders, to ensure its users’ protection. First Digital Group announced the launch of the First Digital USD…
The government of Palau is set to begin a pilot project for a United States dollar-backed stablecoin on July 26. The new coin will be issued on XRP Ledger. The country will release the first Palau Stablecoins (PSCs) in the pilot project to government employees. This comes after several days of testing using volunteers to make purchases with various devices. The PSC, nicknamed the Kluk, possibly due to its bird logo, is the latest project to run on the Ripple CBDC Platform that debuted in May. Ripple claimed at that…
Wyoming is beginning its work on the state’s stablecoin, or, as it’s called officially, the “stable token” project, by opening a job position for a head of the stable token commission. The potential executive will lead a team, responsible for making a proper legislative framework for the project. The position was opened on the federal government’s website for civil jobs on July 20. The commission is seeking to hire an executive director, who would lead a team, comprised of the Wyoming Governor, State Auditor, State Treasurer and four “expert appointees”.…
“Financial distress at one ART [asset-referenced token] or EMT [e-money token] issuer can materially increase the likelihood of distress at other issuers of crypto-assets or at other financial institutions given the network of contractual obligations in which issuers operate,” said the document, seen by CryptoX, referring to the two categories of stablecoin set out in MiCA whose value is tied to fiat currency or other assets. Source AssetsAuthorityBankBankingEuropeanExtraIssuersRegulationStablecoinUnion CryptoX Portal
Several private banks in South Korea are studying the potential of tokenized deposits technology, an alternative both to private stablecoins and central bank digital currencies (CBDCs). According to the report from Maeli Business News Korea, Hana Bank and Woori Bank, both private enterprises with headquarters in Seoul, showed interest in so-called “certificate of deposit” tokens (CDs). Essentially CDs are tokenized bank deposits, put on the blockchain. They can replace customary notes and deposits without disrupting the existing banking system. And, of course, CDs require identity verification of the same standards…