Stablecoin
Singapore Proposes Measures To Reduce Risk of Crypto Trading
MAS proposed measures to reduce risks to consumers from crypto trading. The regulators also focus on enhancing stablecoin-related activities. The proposed measure will focus on consumer access, business conduct, and...
Binance USDC-BUSD Conversion Begins ‘Second Great Stablecoin War’
FTX’s Bankman-Fried said Binance’s auto conversion of USDC to BUSD sparks a stablecoin war. In 2018, stablecoins battled for dominance, with USDC and USDT edging out TUSD, GUSD, and USDP....
Silvergate Reports a Fall After Its Delayed Stable Coin Project
Silvergate’s shares dropped by over 20% due to missed earnings and delays in stablecoin projects. Digital asset customers grew, but their average deposits fell, according to Silvergate. CEO Lane expressed...
The Revenue of DAI Stablecoin Issuer Plummets by over $4M in Q3
MakerDAO saw its revenue fall in 2022 Q3 as loans declined with few liquidations. The income fell by over $4 million, representing 86% from the previous quarter. Its ETH-based and...
Influential Finance Watchdog Proposes “Comprehensive” Crypto Rules
FSB proposes the centralization of stablecoin and liquidation of powerful crypto platforms. Significant price drops in Bitcoin and other altcoins contribute to unstable stablecoins. FSB is concerned about liquidity mismatches,...
New Draft of MiCA Lifts Earlier Limits On Non-EUR Stablecoins
MiCA bill removes restrictions on non-EUR stablecoins. The regulator’s legislation plans to regulate businesses that deal in crypto. Changpeng Zhao commends the bill. Recent news articles state that the latest...
Upcoming US Bill Could Place Ban on Algorithmic Stablecoin
The US legislation could place a two-year ban on the algorithmic stablecoin. Bloomberg had obtained a copy of the drafted bill. Committee members have been working to reach an agreement....
Russian Entrepreneur Alexander Lebedev Readies Ruble Stablecoin
Alexander Lebedev plans on introducing a stable coin backed by the Ruble. ‘InDeFi has nothing to do with the Russian ruble,’ says Mendeleev, InDeFi CEO. Just like any other DeFi...
Number of Addresses Reaching BUSD Hikes, Taps a New 3-Month High
BUSD’s receiving addresses (7d MA) reached a 3-month high of 64.173. The stablecoin is one of the few cryptos in green lane today. Existing balances and new deposits of USDC,...
FASB Crypto Accounting Review Won’t Include NFTs And Stablecoins
FASB’s crypto accounting review excludes NFTs and certain stablecoins. This move is because they (NFTs and stablecoins) don’t conform to some of FASB’s requirements. Businesses possessing crypto will need to...
Japanese Regulators Plan to Ease Tax Rules for Crypto Investors
Japan’s FSA is proposing tax breaks for crypto investors. Crypto profits, including unrealized gains, are taxed at roughly 30% currently. Japan established a legal framework for stablecoins. In favor of...
