Tag: stablecoin news

Sep 20 2021

Fed Report’s regulatory overhaul designates Stablecoins as systemically risky

Sep 20 2021 Published at Coingape under tags  bchabcbtc bchabcusdc bchabcusdt bchbnb bchbrl

The upcoming CBDC report by the Treasury, the Fed, and other financial regulators will reportedly focus on imposing stricter regulations on stablecoins in lieu of an underlying and undetected risk factor. According to the New York Times, the Financial Stability Oversight Council holds the power to designate stablecoins as, systemically risky financial system, which in The post Fed Report’s regulatory overhaul designates Stablecoins...

Sep 17 2021

ECB President asserts “Cryptos are not currencies, full stop.”

Sep 17 2021 Published at Coingape under tags  bitcoin news btcbrl btcbusd btcdai btceur

ECB President, Christine Lagarde made anti-crypto comments on "The David Rubenstein Show: Peer-to-Peer Conversations". On the issue of crypto’s global purpose and whether it’s too early to determine one, Lagarde claimed that the decentralized sphere is supported by a highly speculative asset class, which stands nowhere close to the definition of currency. “Cryptos are not The post ECB President asserts “Cryptos are not...

Just-in: PayPal Starts Bitcoin and Other Crypto Trading Services in UK

Payment gateway giant, PayPal announced on Twitter that all eligible customers in the U.K. will now be able to buy, sell and hold cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Bitcoin cash through their PayPal accounts. We are delighted to share that all eligible customers in the UK can now buy, hold and sell #Cryptocurrencies The post Just-in: PayPal Starts Bitcoin and Other...

Sep 14 2021

ECB’s Governing Council Member argues that CBDCs and traditional Fiat can go hand-in-hand

Sep 14 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

European Central Bank Governing Council member, Jens Weidmann claims that CBDC adoption does not mean the traditional fiat system is going to be an “endangered species”. According to a Bloomberg report, he asserted that the digital wave does not pose a threat to the traditional banking system and institutions should not demand additional protection instead The post ECB’s Governing Council Member argues that...

Sep 13 2021

Moody’s Report: Cross-Border CBDC transactions may affect banks’ commission

Moody’s Investors Service latest report warned financial institutions that the widespread adoption of CBDCs may cause credit-negative for banks in lieu of lowered fees and commissions. Furthermore, banks with active foreign currency payments, clearing, and remittance services will bore the burn of losses according to Moody’s credit outlook report. This month, the Bank of International The post Moody’s Report: Cross-Border CBDC transactions may...

Sep 09 2021

Aug 31 2021

Aug 23 2021

Circle Changes USDC Reserve Composition To Cash and Treasury Bonds

Boston-based digital currency company Circle, with the support of Centre and Coinbase, has announced that it will change the composition of USDC reserves to cash and short-term US Treasury Bonds. Per Grant Thornton’s attestation, Circle expanded beyond cash and cash equivalents already in May 2021, However, witnessing the evolving regulatory landscape and scrutiny in the The post Circle Changes USDC Reserve Composition To...

Aug 12 2021

Circle CEO claims traditional banks will soon indulge in stablecoins

Aug 12 2021 Published at Coingape under tags  circle stablecoin etcbtc etceth etcusd etcusdt

Circle Pay, one of the largest digital currency company’s CEO, Jeremy Allaire commented on the efficiency of stablecoins and its bright future in the US banking system. He compared the stability and low risk offered by the stablecoin market to that of the traditional banking system. "Stablecoins are becoming so big that they are going The post Circle CEO claims traditional banks will...

Aug 11 2021

Bank of Ghana partners with German currency technology firm to launch Pilot CBDC

Aug 11 2021 Published at Coingape under tags  bog btcbrl btcbusd btcdai btceur

Bank of Ghana (BoG) has announced a partnership agreement with the German Currency technology platform, Giesecke+Devrient (G+D) to pilot a general- purpose Central Bank Digital Currency (retail CBDC) in Ghana, West Africa. BoG shared in the Press Release that G+D will play a major role in launching Ghana’s e-Cedi Pilot. G+D will pilot the issuance of digital The post Bank of Ghana partners with...

Did Coinbase Lie About USDC to Investors? Here’s How It Could Backfire

Aug 11 2021 Published at Coingape under tags  adabch adabnb adabtc adabusd adaeth

Coinbase, the largest crypto exchange in the US had a long-running advertisement on its platform regarding the second-largest stablecoin USDC. The advertisement promised every dollar paid to investors would be used to back the USDC with $1 “in a bank account.” The Coinbase partnership has proven fruitful for the stablecoin as it managed to become The post Did Coinbase Lie About USDC to...

Aug 09 2021

Aug 06 2021

CBDC India: RBI plans to launch digital Fiat model before 2022

Aug 06 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

In a recent development about the status of...

JP Morgan Warns Hasty CBDC Implementation Could “Cannibalize” Financial System

Aug 06 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

JP Morgan, the American Banking giant has warned against the hasty implementation of Central Bank Digital Currencies (CBDC). The bank said the creation of a new CBDC based retail loan and payments channels must not come at the cost of the existing financial system. Hasty implementation of the CBDCs in the retail market could "cannibalize" The post JP Morgan Warns Hasty CBDC Implementation...

Aug 05 2021

Aug 04 2021

Aug 01 2021

Jul 27 2021

Jul 26 2021

Breaking: US DOJ set to investigate Tether executives over Bank Fraud

Jul 26 2021 Published at Coingape under tags  bank fraud btcbrl btcbusd btcdai btceur

Tether, the stable coin issuer might be in trouble again as the US Department of Justice (DOJ) has initiated a probe to investigate whether the executives of the company were involved in bank fraud. *TETHER EXECUTIVES SAID TO FACE CRIMINAL PROBE INTO BANK FRAUD -- *Walter Bloomberg (@DeItaone) July 26, 2021 The investigation by the The post Breaking: US DOJ set to investigate...

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