Search Results for: Stablecoins

BIS: 9 out of 10 Central Banks Worldwide Are Exploring Digital Currencies — Driven by Crypto Market

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Nine out of 10 central banks globally are exploring central bank digital currencies (CBDCs), according to the latest survey by the Bank of International Settlements (BIS). Furthermore, “the emergence of stablecoins and other cryptocurrencies have accelerated the work on CBDCs.” BIS…

Tron DAO Reserve Purchases $38 Million in TRX to Safeguard the Stablecoin USDD

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On May 5, Tron’s algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to…

Bank of Spain Report Warns About Cryptocurrency Usage and Its Effect on Financial Stability

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The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that…

Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements

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Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as…

Tron’s Justin Sun Reveals Decentralized Algorithmic Stablecoin USDD

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On April 21, Justin Sun, the founder of Tron, announced the launch of a decentralized algorithmic stablecoin called USDD. Sun said on Thursday that the USDD Network will “provide custody service for the $10 [billion] worth of highly liquid assets raised…

Luna Foundation Purchases Another $5 Million in Bitcoin, LFG Wallet Holds 42,530 BTC

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The Luna Foundation Guard (LFG) purchased an additional 123.89 bitcoin on Friday worth close to $5 million at the time of settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning,…

EU Designates ESMA as Crypto Regulator of the Region in Latest MiCA Draft

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The Parliament of the EU has designated ESMA, the European Securities and Markets Authority, the top cryptocurrency regulator of the region in the latest draft of MiCA, the Markets in Crypto Assets regulation. The European organization would have the task of…

India’s Digital Currency to Take ‘Very Calibrated, Graduated’ Approach, Says RBI Deputy Governor

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Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact…

Treasury Secretary Yellen Says Crypto Regulation Should Support Responsible Innovation, Manage Risks

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Treasury Secretary Yellen says the regulatory frameworks for crypto assets in the U.S. should “support responsible innovation while managing risks.” She emphasized, “Regulation should be based on risks and activities, not specific technologies.” Treasury Secretary Yellen on Crypto Regulation U.S. Treasury…

Bitpay Adds Lightning Network, Youth Fashion Brand Pacsun to Accept Payments via Lightning

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On April 6, one of the largest cryptocurrency payment platforms in the world, Bitpay, announced the Atlanta-based company has integrated bitcoin payments via the Lightning Network. According to the announcement on Wednesday, the youth-focused American retail clothing brand Pacific Sunwear (Pacsun)…