The federal deposit and insurance commission (FDIC) acting Chairman Martin Gruenberg has acknowledged the role of stablecoins in the digital economy but advocates that it should be properly regulated ...
Tag: Stablecoins
IRS 2022 Tax Guidelines to Treat NFTs as Stablecoins, Cryptocurrencies
The U.S. Internal Revenue Service (IRS) has given NFT investors new clarity about how the assets are set to be taxed. As per the IRS’ 2022 tax year guide, all “digital assets,” including stablecoins,...
Ruined retail investors are on the hunt for Do Kwon: FT
Do Kwon is the most wanted man in crypto, with South Korean authorities, Interpol and now UST Restitution Group trying to track him down. The group of nearly 4,400 former Terraform Labs investors has...
IRS releases new tax guidelines for NFTs and stablecoins
The United States IRS has announced a new taxation system covering NFTs under its latest 2022 guidelines. Traders and investors in the crypto space dealing in NFTs can heave a sigh of relief as to how...
Bank of England Must Consider Private Stablecoins in Developing Digital Pound, Lobbyist Says
There’s a “question whether we could apply a competition objective to the Bank of England, when we think about things like central bank digital currency and how that’s implemented,” Jackson, who...
Whales Across These Five Chains Are Heavy On Stablecoins, Should You Be Too?
Crypto whales all across the board have been seemingly taking more conservative positions in stablecoins since the bear market started. This has evolved into larger holdings in dollar-pegged cryptocur...
Tether Says It Has Ditched Commercial Paper. It’s a Good Sign for Stablecoins.
Tether said that it no longer holds commercial paper in its reserves, favoring U.S. Treasuries instead in a move that addresses worries about the quality of assets backing the world’s most popular sta...
Russia Turns To Stablecoins In Droves As Sanctions Bite Even Harder ⋆ ZyCrypto
Advertisement     Russians have hopped on stablecoins to circumvent Western sanctions to send trading volumes to new highs. The decision by SWIFT to kick out Russian b...
CFTC’s Control Over Stablecoins Should Be Strengthened, Says Gensler
31 mins ago | 2 mins read News As per Gensler, the control over stablecoins will reduce the risk to the financial system. Gensler says the CFTC lacks the direct authority to impose regulations over st...
A U.S. CBDC is Unnecessary, Stablecoins Offer Real Utility
Speaking at a security symposium at Harvard University, Fed Governor Christopher A. Waller maintains that the U.S. dollar can survive without a Central Bank Digital Currency (CBDC). Waller argues that...
Key US Lawmaker Says Talks Continue Over ‘Ugly Baby’ Bill to Oversee Stablecoins
The three-way talks with Rep. Maxine Waters (D-Calif.), the chairwoman of the House Financial Services Committee, and the Treasury Department have run into a number of sticking points, according to Mc...
Regulators Are Targeting Stablecoins Due to ‘Crazy Product Market Fit’: Compound’s Robert Leshner
Stablecoins have emerged as the life-blood of the crypto industry. At a hefty $150 billion in total market capitalization, even after the collapse of Terra’s algorithmic stablecoin UST earlier this y...
Stablecoins Are ‘Lowest-hanging Fruit’ for Crypto Regulation
Regulators should start by “putting one foot in front of the other” when considering guidelines in space, Bankman-Fried says Preserving inclusion while protecting against bad actors is crucial for the...
House legislation ‘best shot’ for digital dollar competition
Crypto industry players are optimistic that lawmakers could pass a new stablecoin law next year, they said during a financial conference in Washington, D.C. “I think it is the best shot the U.S....
G20 Central Bankers: Stablecoins Are Not “Stable,” Suggests Action Against Crypto
The post G20 Central Bankers: Stablecoins Are Not “Stable,” Suggests Action Against Crypto appeared first on Coinpedia Fintech News The Financial Stability Board, a group of G20 central ba...
Cardano in Top Five (Excluding Stablecoins) For Last 7 Quarters
– Advertisement – Cardano Has Remained in the Top 5 List of Largest Crypto Assets in the Past 7 Quarters. Cardano maintains a top 5 position (excluding Stablecoins) in the list of largest ...
Hubble Protocol laser-focused on Latin America, the new stablecoins’ growth base
Hubble Protocol, the home of Solana’s premier stablecoin USDH, is laser-focused on Latin America. Hubble’s co-founder Marius Ciubotariu believes that Latin America provides a new growth base for stabl...
XRPL to Provide Tech Basis for at Least Six Stablecoins
Vladislav Sopov Seasoned XRP/Ripple expert @WKahneman shared updates on progress of major XRPL-based stablecoins (and one CBDC!) Contents Stably, Stasis, Novatti, who else? Palau rolls out its CBDC to...
Algorithmic Stablecoins Are Not ‘Stable’ Coins: Sam Bankman-Fried
Sam Bankman-Fried, the founder and CEO of leading crypto derivatives exchange FTX, recently opined in an interview that Terra’s cataclysmic collapse is evidence that algorithmic stablecoins are not tr...
Stablecoins: Everything You Need to Know
Key Takeaways Stablecoins are blockchain tokens that are designed to hold a specific value. They typically track the price of fiat currencies like the U.S. dollar. The most common types of stablecoins...
Stablecoins’ Role in Cutting International Payment Costs Probed by Payments Watchdog
The Committee on Payment and Market Infrastructures, an international body that sets norms for the sector, has said it wants to probe the case for cryptos that seek to maintain value against fiat furt...
Moody’s executives say new EU MiCA regulations could unleash stablecoin innovation
Restrictions in new EU regulations could potentially serve as a booster to stablecoin innovations in Europe, Moody’s Global Head of DeFi and Digital Assets Fabian Astic told The Block in an exclusive ...
NIST Wants To Regulate Stablecoins For Better Safety And Security For Users
The US-based National Institute of Standards and Technology (NIST) is trying to regulate the digital space in the nation. As the Biden government is taking steps to get involved in the crypto space an...
Luna Foundation Guard postpones compensation efforts, cites ‘ongoing and threatened litigation’
Since the collapse of the TerraUSD, the algorithmic stablecoin that catastrophically lost parity with the U.S. dollar earlier this year, the Luna Foundation Guard (LFG) maintained it would follow thro...
US DOC agency NIST explores security, safety, trust of stablecoins
The National Institute of Standards and Technology (NIST) found that the top five coins that retained their peg represented 87 % of the total top 20 market capitalization. The National Institute of St...
Stablecoins Plagued by Security Issues and Trust Concerns
The National Institute of Standards and Technology (NIST), an agency under the United States Department of Commerce, has conducted a study exploring the technology and security concerns surrounding st...
Stablecoins shed $38B since May as yields plunge, projects collapse
An estimated $148.7 billion worth of stablecoins are still in circulation. According to the latest data from DefiLlama, the overall circulation of stablecoins has decreased by approximately $38 billio...