Tag: Stablecoin

Stablecoin Market Remains Steady in June Amidst Crypto Volatility

While June was a lackluster period for crypto assets as many experienced double-digit losses against the U.S. dollar, the stablecoin market also saw minimal growth over the past 30 days. Ethena’s USDE led the growth, with its supply increasing by 21.4% since May. Stablecoin Economy Shows Little Change in June The stablecoin market remained relatively […] Source CryptoX Portal

EU’s Restrictive Stablecoin Rules Take Effect on June 30, Issuers Are Running Out of Time

“Tether has engaged extensively with its exchange counterparties in Europe regarding the requirements, including those pertaining to the ongoing listing of USDT and other Tether tokens, and the interpretation of key regulatory provision,” said Paolo Ardoino, Tether’s CEO, in a statement. “While Tether is optimistic about MiCA’s implementation, it remains crucial that stablecoin regulatory policies enacted are balanced, protect consumers, and nurture growth in our emerging industry.” Source

Stablecoin USDT more popular than Bitcoin in Latin America, Kaiko says

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Over 40% of all crypto trades in Latin America involve the USDT stablecoin, signaling a waning interest in Bitcoin, which is even trailing XRP in the region’s top trading pairs. Stablecoins are more popular in Latin America (LATAM) than Bitcoin as stablecoin-to-fiat trading pairs accounted for more than 60% of the top 10 trade volume in the region, according to data compiled by Kaiko, a blockchain analytics firm. The data reveals that USDT, issued by Tether, is significantly more popular than Bitcoin among Latin American traders, accounting for over 40%…

Financial Stability Board (FSB) to Work More on Stablecoin Risks in Emerging, Developing Economies

“In emerging market and developing economies (EMDEs), crypto-assets pose particular challenges for monetary policy and capital flow management,” the FSB said. “Members discussed the challenges posed by the relatively higher levels of adoption and risks of global stablecoin arrangements in EMDEs. The FSB will undertake further work to consider how these challenges can be addressed.” Source

Australia’s Treasury to Include Stablecoin Rules in Crypto Bill Draft, ASIC’s Warning For Crypto Entities

“Within that drafting slot, there are various reforms and each has a different priority to the payments reforms, which would include our proposed framework for regulating stablecoins sit within that same slot, and they’ll be sort of done one after the other. Given that overlap, reps (representatives) are hoping that both of them will be released at the same time.” Source