Stablecoins are assets — not currencies, says ECB president

Christine Lagarde, president of the European Central Bank, said all cryptocurrencies, in which she included stablecoins and speculative assets, “are not currencies at all.” In a Sept. 1 interview with World Economic Forum founder and executive chair Klaus Schwab, Lagarde said cryptocurrencies “present themselves as currencies,” but she still considered them as assets to be… Continue reading Stablecoins are assets — not currencies, says ECB president

Foreign CBDCs and stablecoins unlikely to threaten US dollar, says Fed vice chair

Randal Quarles, vice chair for supervision of the Federal Reserve Board of Governors, said he believed neither dollar-pegged stablecoins nor digital currencies issued by foreign central banks are likely major causes for concern for the U.S. dollar. In a prepared statement for the Annual Utah Bankers Association Convention Monday, Quarles said that foreign currencies —… Continue reading Foreign CBDCs and stablecoins unlikely to threaten US dollar, says Fed vice chair

CoinGeek Zurich: Stablecoins are coming to BSV

Like ‘BitCoin’, the word ‘stablecoin’ is often in the news, but for the wrong reasons. Despite this, many see the potential for stablecoins, if only it could be unlocked by the right people—and on the right protocol. It’s a good thing then that the opening day of CoinGeek Zurich included a panel session on the… Continue reading CoinGeek Zurich: Stablecoins are coming to BSV

Tether’s Message to Extortionist Demanding 500 BTC: We Are Not Paying

Stablecoin issuer Tether (USDT) has allegedly received a ransom note demanding 500 Bitcoin (BTC). The note’s author claims that if Tether does not pay up, he or she will publish documents that could “harm the bitcoin ecosystem.” Tether tweeted about the alleged ransom note on Sunday: “while we believe this is a pretty sad attempt… Continue reading Tether’s Message to Extortionist Demanding 500 BTC: We Are Not Paying

Transparent stablecoins? Conclusion of Tether vs. NYAG raises new questions

A long-standing legal drama finally found resolution on Feb. 23, with the New York Attorney General’s office announcing that it had come to a settlement with cryptocurrency exchange Bitfinex after a 22-month inquiry into whether the company had been trying to cover up its losses — touted to be worth $850 million — by misrepresenting… Continue reading Transparent stablecoins? Conclusion of Tether vs. NYAG raises new questions

Bitcoin, stablecoins and DeFi: 2020’s top-performing crypto assets

Bitcoin (BTC) has had a stellar 2020, but how are other top crypto assets faring? Let’s take a look at how some of the top cryptocurrencies by market capitalization performed this . Bitcoin First, Bitcoin has seen a massive gain since Jan. 1, as its price soared from $7,195 to as high as $28,422. Within… Continue reading Bitcoin, stablecoins and DeFi: 2020’s top-performing crypto assets

Stablecoins Must Meet Appropriate Financial Regulations, Says U.S Presidential Advisory Group

The financial working group of the US government has indicated that Stablecoins must meet certain regulatory standards to be accepted in the country. This comes after the controversial stablecoin bill that has been proposed by US lawmaker Talib Rashid. More Clarity On Stablecoins The working group published an extensive report on Wednesday highlighting its views… Continue reading Stablecoins Must Meet Appropriate Financial Regulations, Says U.S Presidential Advisory Group

Stablecoins went wild in the days before Bitcoin’s recent surge

In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior. On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet’s data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it… Continue reading Stablecoins went wild in the days before Bitcoin’s recent surge

Tether May Become the Second-Largest Cryptocurrency Soon

Will stable currencies ultimately take over bitcoin? According to a new report, the controversial stable coin known as Tether is slated to become the second-largest cryptocurrency by market cap as early as next year, and will only be smaller than bitcoin, but how long will that last? Is Tether About to Get Much Bigger? The… Continue reading Tether May Become the Second-Largest Cryptocurrency Soon

These stablecoins define 2020 performance

Even though Tether [USDT] had been the popular choice among cryptocurrencies with a large fraction of supply share, other stablecoins have all been witnessing growing prominence. Among these was Dai, created via the Maker Dao stablecoin system and USDC. Although the use of Dai was mainly limited to the Defi ecosystem it has been witnessing… Continue reading These stablecoins define 2020 performance

Stablecoins receiving SEC, OCC’s approval; will there be Ripples?

As the digital asset space remained occupied with price movement, a landmark decision was announced as Stablecoins became the first crypto assets to receive regulation clarity. According to an official press released by the Office of the Comptroller of the Currency (OCC), national banks were given the green light to hold deposits of stablecoins, as… Continue reading Stablecoins receiving SEC, OCC’s approval; will there be Ripples?

Bank of France: stablecoins could impact EU financial sovereignty ‘for decades’

The governor of the Bank of France has warned that Europe cannot afford to lose momentum in tackling the challenges posed by private sector global digital assets.  His warning came as five EU governments — Germany, France, Italy, Spain and the Netherlands — all backed the European Commission’s intent to draft regulation for asset-backed crypto… Continue reading Bank of France: stablecoins could impact EU financial sovereignty ‘for decades’

Stablecoins, Ceilings and Digital Currencies: Bad Crypto News of the Week

Stability? What stability? Bitcoin has burst through its ceiling, leapt 15% and is now tickling a new ceiling of $11,000. The new move has put Bitcoin’s actual price at around double the realized price. On Black Thursday, the realized price was higher than the actual price. So how much higher will Bitcoin go? Max Keiser… Continue reading Stablecoins, Ceilings and Digital Currencies: Bad Crypto News of the Week

Different Stablecoins Find Traction on Exchanges and in DeFi

There are many different opinions on what stablecoins bring to the table in the cryptocurrency industry. Current statistics confirm the popularity of these assets, and they also create a lot of on-chain volume.  There are many different stablecoins in the cryptocurrency industry today. Different Stablecoins for Different Purposes Despite the growing competition, Tether’s USDT has… Continue reading Different Stablecoins Find Traction on Exchanges and in DeFi

Cryptocurrency Stablecoins Thrive During Market Downturn and Panic Selloff

The cryptocurrency market has been in shambles ever since the coronavirus outbreak reached critical levels, however, the panic has been positive for the growth of stablecoins, which have grown by billions in market cap since the selloff first began a month ago. Stablecoins Provide the Only Flight to Safety Amidst Coronavirus Crisis The cryptocurrency market,… Continue reading Cryptocurrency Stablecoins Thrive During Market Downturn and Panic Selloff

Ripple Says Stablecoins Could be Created on XRP Ledger

Blockchain-based financial services network RippleNet provides a safe, convenient, and easy-to-use wallet for holders of the cryptocurrency XRP, and the features to their system’s ledger may be expanding. RippleNet has been developed significantly since it was created in 2012. The system’s users have long had the ability to perform transactions on a decentralized ledger. Soon… Continue reading Ripple Says Stablecoins Could be Created on XRP Ledger

Tether Has Launched Its Gold-Backed Stablecoin

Stablecoin giant Tether Ltd. has just launched a gold-backed cryptocurrency, which is price-pegged to the precious metal. The news was announced in a Jan. 23 web post. Each token of Tether Gold, or XAUT, is physically backed by one troy fine ounce of gold. Currently, there are 3990.225 XAUT in circulation, meaning that the market… Continue reading Tether Has Launched Its Gold-Backed Stablecoin

Russia Works With Stablecoins To Evaluate Their Performance In The Market

The Bank of Russia is currently analyzing the impact that stablecoins would have on the economy. As reported by iHodl Russia, the central bank of the country is testing these digital assets in a regulatory sandbox. According to Elvira Nabiullina, the Head of the Central Bank of the country, the financial regulator is interested to… Continue reading Russia Works With Stablecoins To Evaluate Their Performance In The Market

Samson Mow: Stablecoins Are a ‘Mid-Step Towards Hyperbitcoinization’

Stablecoin Tether (USDT) is clearly the preference among investors but will not see a retail use case, Samson Mow says. The Blockstream CSO, who was speaking at Cointelegraph’s ongoing BlockShow conference on Nov. 15, noted that Tether’s first-mover advantage placed it in another league from the increasing number of other stablecoins on the market. Mow:… Continue reading Samson Mow: Stablecoins Are a ‘Mid-Step Towards Hyperbitcoinization’

Regulate Stablecoins – Don't Squash Them

Nathan Kaiser is a founder of Eiger Law and a fellow at the Berkman Klein Center for Internet & Society at Harvard University. He has two decades of professional experience in Greater China focusing on corporate law and the convergence between technology and law. The views expressed here are his own. Recent developments with blockchain-based payments… Continue reading Regulate Stablecoins – Don't Squash Them

Tether Plans Algorithmic Stablecoin: Codename USDTX

Stablecoin provider Tether aims to create an algorithmic alternative to its popular USDT token – possibly allowing traders to use cryptocurrency as collateral – as a means to provide another route to issue and trade USD-pegged assets. Paolo Ardoino, CTO of Tether and affiliated exchange Bitfinex, told Crypto Briefing the company was currently busy researching… Continue reading Tether Plans Algorithmic Stablecoin: Codename USDTX

G7 Evaluates Stablecoins as Risk to Global Financial Stability

The world’s biggest economies are assessing stablecoins as a potential risk to the global financial system, according to a statement from the Financial Stability Board (FSB). In a letter to G20 finance ministers and central bank governors on Sunday, the FSB’s chair Randal Quarles said the G7 working group is delivering an assessment report on… Continue reading G7 Evaluates Stablecoins as Risk to Global Financial Stability

Binance to List Its New Dollar-Backed BUSD Stablecoin Next Week

Binance’s new dollar-backed stablecoin, BUSD, created in partnership with the Paxos Trust Company, will be made available for trading on the cryptocurrency exchange the week of Sept. 16. Announced on Thursday at CoinDesk’s Invest: Asia conference, Paxos co-founder Rich Teo said: “We minted out first batch of Binance U.S. dollars. It will be made available… Continue reading Binance to List Its New Dollar-Backed BUSD Stablecoin Next Week

Beyond USD: The Next Frontier for Stablecoins

George Harrap is CEO and co-founder of Hong Kong based Bitspark, a bankless money transfer ecosystem focused on Asia and Africa.  This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To… Continue reading Beyond USD: The Next Frontier for Stablecoins