The guidelines from the international organization of securities regulators and BIS’ global payments group set out arrangements for systemically important stablecoins. Source
International Standard Setters Publish Guidance on Stablecoin Regulations
Tag: Stablecoin
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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io ★ ★네이버 블로그 주소링크 ★ ★ ★ 많이 봐주시고 구독도 부탁드립니다 ★ 업비트 연말정산 받기 : 코인 현금영수증 연말정산 확인방법 : 해외금융계좌 5억원이상 국세청 신고 정신이 나약해질때 한번보기 안녕하세요 예스맨 입니다 블록체인 및 비트코인을 공부하는 방송입니다 서로 정보를 공유하고 알려주는 방송입니다. ★구독과 좋아요는 큰 힘이 됩니다 ★최종 판단은 본인의 몫 참고하시길 바랍니다 ★개인의 판단이 많이 들어간 방송입니다 ★댓글 매너 부탁드리겠습니다 안녕하세요 예스맨 입니다 블록체인 및 비트코인을 공부하는 방송입니다 서로 정보를 공유하고 알려주는 방송입니다. ★구독과 좋아요는 큰 힘이 됩니다 ★최종 판단은 본인의 몫…
Brazilian Fintech PicPay to Launch Crypto Exchange, Real-Tied Stablecoin
In May, Nubank, the largest Brazilian digital bank by market value, added the option for customers to buy and sell bitcoin and ether on its platform, while in December, Mercado Libre, Latin America’s largest e-commerce company by market value, allowed users in Brazil to buy, sell and hold cryptocurrencies Source
100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault – Defi Bitcoin News
Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance vote that provides “collateral integration from a U.S.-based bank.” The Makerdao governance vote passed by a majority vote of more than 87%, and it allows the U.S. financial institution Huntingdon Valley Bank the means to leverage a stablecoin vault. Huntingdon Valley Bank to Use Makerdao’s Stablecoin Vault System With Off-Chain Loans — RWA-009’s Initial Debt Ceiling Is $100 Million According to a Makerdao governance poll breakdown, the community has approved a collateral integration proposal with the…
KPMG to audit new pound-backed stablecoin GBPT
Fintech firm blackfridge has launched a new stablecoin that is fully backed by the British pound (GBP), potentially opening the door to wider adoption of digital assets in the United Kingdom and its Crown Dependencies. The newly launched “poundtoken,” which trades under the ticker “GBPT,” will be available for trading on Gate.io, Bittrex Global and Unisawp, blackfridge announced Monday. GBPT is said to be fully backed by the British pound, which means that every token issued will have an equivalent value held in reserves. GBPT’s reserve status is regulated by…
Terra crash highlights stablecoin risk to financial stability: ECB
The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain networks and play a critical role in offering liquidity to the decentralized finance (DeFi) ecosystem. The report further analyzed whether these stablecoins could find a place in the traditional financial system, but concluded that a…
After Terra’s fall to Earth, get ready for the stablecoin era
Stablecoins were supposed to be the boring uncle of the crypto world — safe, sensible and dull. They’re probably not what Satoshi Nakamoto had in mind, but they’re supposed to be a reassuring haven of calm and utility away from the turbulence of pure-play cryptocurrencies. With values pegged to fiat currencies, stablecoins were intended to be useful rather than to offer get-rich-quick schemes. They play an important role in the cryptocurrency ecosystem by providing a safer place to store capital without having to cash out entirely, and allowing assets to…
Fed vice chair Brainard urges faster crypto regulation, touts role for stablecoin
Regulate now or regret it later, United States Federal Reserve Board vice chairperson Lael Brainard told an audience at a Bank of England conference in London on Friday. Crypto has the same basic risks as tradition finance and needs “strong guardrails,” Brainard claimed, pointing to the recent downturn in market as proof. Brainard spoke the most general terms throughout her speech. She highlighted recent performance issues in cryptocurrency, such as volatility, correlation with risky equities, liability to bank runs and other risks associated with traditional finance, and over-collateralization as a…
Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer
Tether’s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender. In a statement issued Friday, Tether explained that its lending arrangement with Celsius prevented any downside risk to its underlying business. Specifically, the BTC-denominated loan issued to Celsius was overcollateralized by 130%, and the original agreement allowed Tether to liquidate the collateral to cover the loan. “This process was carried out in a way to minimise as much as possible any…
Aave Proposes Decentralized, Yield-Generating Stablecoin GHO
Facilitators, however, will have limits in place to ensure they don’t abuse their powers. “For each Facilitator, Governance will also have to approve something that we call a bucket. A bucket represents the upward limit of GHO a specific facilitator can generate,” the Aave proposal said. Source