Follow stablecoin news, issuer updates, market share changes, regulation, reserve transparency, and payment adoption trends.
Stablecoin issuers would be forced to have their reserves backed in conservative assets like cash and US Treasury bonds that would not be vulnerable to market panics.
The Reserve Bank of Australia governor argued that the private sector is better than central banks at innovating tokens.
Invictus Capital ousted its founder and allegedly moved investors' funds into UST and Celsius and refused to exit positions.
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.
The transfer function of stablecoins makes stablecoin issuers similar to FMIs and should, therefore, adhere to the PFMI, the report said.
The meeting between both authorities focused on issues that included “sustainable finance, crypto assets, and stablecoins.”
The Russian government agencies disagree on the viability of stablecoins, but perhaps a compromise can be reached in developing a ruble-backed stablecoin.
The FSB said it will submit two public consultation reports on regulating cryptocurrencies and stablecoins, which pose risks to financial stability.
Boris Johnson's recent half-given resignation may shuffle the background settlements on U.K.'s crypto regulations, if there is any.
