Get the latest news on stablecoins–cryptocurrencies that are pegged to a fiat currency.
Circle shuts down critics with on-going disclosures on USDC reserve assets
Following mounting criticisms, including claims of insolvency, Circle has committed to monthly disclosures on its reserve assets. The latest report shows an over-collateralization of $134 million.
Principles for Financial Market Infrastructures should be applied to stablecoins: BIS
The transfer function of stablecoins makes stablecoin issuers similar to FMIs and should, therefore, adhere to the PFMI, the report said.
Stablecoin rules among topics discussed during Janet Yellen’s meeting with Japanese officials
The meeting between both authorities focused on issues that included “sustainable finance, crypto assets, and stablecoins.”
Russian’s Central Bank and Ministry of Finance clash over stablecoins
The Russian government agencies disagree on the viability of stablecoins, but perhaps a compromise can be reached in developing a ruble-backed stablecoin.
FSB to submit crypto and stablecoin regulation recommendations in October
The FSB said it will submit two public consultation reports on regulating cryptocurrencies and stablecoins, which pose risks to financial stability.
Boris Johnson resignation may halt U.K. crypto regulations
Boris Johnson's recent half-given resignation may shuffle the background settlements on U.K.'s crypto regulations, if there is any.
Tether reveals how it returned funds to Celsius following liquidation
A BTC loan to Celsius was liquidated "without loss" by Tether. The process resulted in excess funds being returned to Celsius as Tether aimed to "minimize" the effect on the market
Aave proposes stablecoin to rival MakerDAO’s DAI
The proposed stablecoin GHO will be overcollateralized, pegged to the U.S. dollar, and backed by Aave Protocol collaterals.
Shiba Inu to launch SHI stablecoin, TREAT reward token in 2022
Shytoshi Kusama says Shiba Inu developers are focused on completing Ryoshi plan for the meme token ecosystem.
Jeremy Allaire refutes allegations Circle is on the brink of insolvency
Circle CEO Jeremy Allaire refuted claims that the company is struggling and said Circle is in the "strongest position it has ever been in financially."
Tether reducing commercial paper holdings down to $3.5 billion by end-July
The stablecoin issuer is making good on its promise to reduce its commercial paper holdings and have more of its reserves held in US Treasuries.
Stablecoins put on notice as EU lawmakers agree on landmark MiCA framework
Although MiCA will bring much needed regulatory clarity, crypto firms will face stricter rules under the new framework.
Biden administration official hints at stablecoin legislation that could come into force this year
According to the official, the President's Working Group on Financial Markets are actively exploring the space and looking to have the law come into force by the end of this year
Banks’ exposure to risky cryptocurrencies should be limited to 1%, Basel Committee proposes
This means banks can hold 1% of its core reserves in cryptocurrencies. For banking mammoths like JP Morgan, this means billions of dollars.
Circle inks custody deal with New York Community Bancorp
This partnership will see New York Community Bank become a custodian of Circle’s USDC stablecoin.
Tether responds to the increase in hedge funds shorting USDT
Paolo Ardoino responds to reports that hedge funds have short bets on Tether's stablecoin USDT via crypto brokerage Genesis Global Trading.
Tether to launch new stablecoin token pegged to British pound
Tether CTO Paolo Ardoino hopes GBP₮ can support the U.K's plans to become a significant crypto hub.