Binance, the world’s largest cryptocurrency exchange by trading volume, has turned to alternative stablecoins following regulatory action by the US Securities and Exchange Commission (SEC) again...
Tag: Stablecoins
Massive Stablecoins Flew into the Exchanges, Is the Market Preparing for A Fresh Bull Run?
The stablecoin dominance has increased drastically in recent times which has also impacted circulation. Recently, the supply of stablecoins on the exchanges has marked new highs, meaning, the traders ...
Binance turns to other stablecoins amid BUSD crackdown
On-chain data released by Lookonchain shows Binance exchange minted 180 million True USD (TUSD) tokens last month and has also added support for other stablecoin projects amid an SEC’s Paxos Binance U...
Stablecoins inflow to Ethereum L2s rise 5% to over $2B
Ad Stablecoin inflow into Ethereum (ETH) layer 2 (L2) networks increased 5% in the last seven days to over $2 billion, according to DeFillama data. Arbitrum averaged a $10M inflow per day in February ...
Kraken is on track to launch bank ‘very soon’ despite regulatory ‘weird place’
Kraken is moving ahead with plans to launch its own bank despite a challenging regulatory environment and the recent shuttering of its on-chain staking services for U.S. clients to settle U.S. Securit...
Japanese Banks Set to Launch Their Own Stablecoins
The “Japan Open Chain” will be used in a stablecoin test involving Japanese banks. The test will also involve local governments and private companies. Japan has taken a major step forward when it come...
How Hard is it for Stablecoin Issuers To Cash Out Billions?
Stablecoin issuer Paxos Trust, under pressure from US regulators, must be able to honor potentially billions in redemptions in the year ahead. That raises questions about whether the firm — and, for t...
Binance Mints $130 Million Worth TUSD Stablecoins Amid BUSD Scrutiny
4 hours ago | 2 mins read Exchange News TUSD has risen to the position of fifth-biggest stablecoin by market cap. The BUSD stablecoin has been temporarily removed from Coinbase. Binance, the biggest c...
Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27
Last week was relatively calm regarding enforcement news but brought some peculiar local developments in regulation. United States Representative Tom Emmer introduced legislation in the U.S. House of ...
Binance bites back against Forbes report claiming transfer of $1.8 billion in client collateral
Binance denied using client assets without consent after a Forbes report said the crypto exchange moved “$1.8 billion of collateral meant to back its customers’ stablecoins.” Forbes ...
Is the SEC’s action against BUSD more about Binance than stablecoins?
Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT...
Shiba Inu Now in Top 10 Cryptos Excluding Stablecoins
Shiba Inu is now in the Top 10 cryptos in the world. Shiba Inu (SHIB) has made a remarkable entry into the world’s top 10 biggest cryptocurrencies based on market capitalization, excluding stablecoins...
Stablecoin Dominance At 9-Month Low After SEC Targets Binance Dollar
Stablecoin dominance has been declining all year, but recent threats by the SEC might have pushed it lower. The metric, which tracks how much of crypto’s total market value is stablecoins, has dropped...
Canada’s upgraded crypto rulebook does not leave much room for stablecoins
Join Our Telegram channel to stay up to date on breaking news coverage So far, countries around the world that made attempts to regulate crypto chose one of two approaches to doing it. Some have opted...
Frax Ditches Algorithmic Backing, Citing Terra Failure
The community governance for stablecoin issuer Frax has voted to increase the collateral ratio for its stablecoin to 100%, removing the small algorithmic component which contributed to its value. Frax...
Circle Still Wants To Go Public — And It’s Hiring Soon
Circle, operator of stablecoin USD coin, is aiming to buck the layoff trend by expanding its workforce as it focuses on operational growth this year. And it still might go public. The Wall Street Jour...
Circle CEO believes the SEC has it all wrong on stablecoins
According to Jeremy Allaire, Circle’s founder and CEO, there are better institutions than the US SEC to oversee stablecoins. The leader of Circle is quoted as saying that stablecoins are payment chann...
Canadian Regulators Say No to Algorithmic Stablecoins
The Canadian Securities Administrators (CSA)—made up of securities regulators from each of the 10 provinces and 3 territories in Canada—have published a long list of new requirements for crypto compan...
Circle CEO Believes Stablecoins Should Not Be Regulated by the SEC
Following the most recent crackdown by the US Securities and Exchange Commission against several crypto companies, Jeremy Allaire opined that the agency is not the best fit to oversee stablecoins in p...
SEC is not the appropriate regulator for stablecoins: Circle CEO
The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire. In an interview with Bloomberg on Feb. 2...
SEC Shouldn’t Regulate Crypto Stablecoins, Says Circle CEO
Circle chief Jeremy Allaire has reacted to the recent spree of enforcement actions by the US Securities and Exchange Commission (SEX) and other agencies in the crypto industry. In an interview with Bl...
Circle CEO Believes The SEC Should Not Regulate Stablecoins
– Advertisement – Circle founder and CEO Jeremy Allaire recently stated that the U.S. SEC is not the right regulator for stablecoins. Allaire believes that the activities of a payment sta...
Circle Euro Stablecoin Finally Gets A Run On Coinbase
Coinbase, one of the largest centralized crypto exchanges in the world, is adding Circle’s euro-pegged stablecoin (EUROC) to its token roster. EUROC is a stablecoin issued by Circle pegged one-to-one ...
Binance Stablecoin Flipped By Cardano, Polygon As Billions Burn
Binance-branded stablecoin BUSD has taken a beating since issuer Paxos confirmed receipt of an ominous Wells notice from the SEC, falling to ninth place on crypto market cap leaderboards. BUSD is now ...
Ethereum gas usage spikes for stablecoins; primarily inflows in USDT
Definition The relative amount (share) of gas consumed by the Ethereum network by category. Transactions are classified into one of the following categories: Stablecoins: Fungible tokens with value pe...
Regulations for Stablecoins Almost Ready: Blockchain Association
Calls for more transparency in the process of crypto regulation in the U.S. are mounting. The latest to join the trend is the Blockchain Association, with the spate of enforcement action continuing as...
Why stablecoins may not replace fiat currency, as per BIS Chief
The events of 2022 reportedly raise “serious doubts about the potential of stablecoins to serve as money.” Many stablecoins now in use may not adhere to the tight requirements imposed for issuers. Agu...
BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning – Bitcoin News
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While spea...
BIS general manager imagines financial innovation without stablecoins
The turmoil in crypto markets has erased the Bank of International Settlements’ belief that there is any hope that stablecoins would be the future of money, according to the financial institution̵...