Australian Senator Calls for Urgent Stablecoin and Digital Yuan Regulation

Andrew Bragg – an Australian Liberal Senator for New South Wales – drafted a invoice that would put the native cryptocurrency sector underneath strict supervision. If accepted, the laws would require digital asset exchanges and stablecoin issuers to reveal their operations to authorities, whereas Chinese banks coping with digital yuan in Australia may also face … Read more

Stablecoin Adjusted On-Chain Volume Reaches New Highs, Are They Threatening Financial Stability?

Stablecoins proceed to interrupt into the mainstream on account of their use in settling cross-border funds and within the course of reached a brand new milestone in adjusted transaction quantity in August. Stablecoins have develop into a significant a part of the decentralized finance business after their launch in 2014. The use of stablecoins in … Read more

How Stablecoin Innovation Could Offer a Hedge Against Inflation

Industry insiders as soon as touted Bitcoin as an inflationary hedge, however financial actuality has referred to as this logic into query. Can a stablecoin present the answer that Bitcoin cannot? Today Bitcoin is buying and selling at $19,686, down 71.4% from its all-time excessive of $69,044 final Nov. With many nations all over the … Read more

Old Mutual Wealth to Handle Cash Reserves of Rand-Backed Stablecoin ZARP

Financial Services Giant Old Mutual Wealth is appointed to management the reserved notes that again ZARP, the crypto stablecoin pinned to the value of the South African Rand. The appointment of Old Mutual will enable ZARP to spout the status of one of the nation’s oldest and most trusted establishments. ZARP additionally stated the transfer … Read more

Binance Limits USDC Stablecoin Support With BUSD ‘Auto-Convert’ Feature

Binance has introduced that it’s going to robotically convert USDC, Pax Dollar (USDP), and TrueUSD (TUSD) to Binance USD (BUSD). The change says that it will increase liquidity and be to the advantage of customers. Binance change has introduced an auto-convert characteristic for the USD Coin (USDC) and different stablecoins with Binance USD (BUSD). The … Read more

Aave GHO Stablecoin Proposal Has Merit But Also Carries Risks

Aave GHO Stablecoin: Stablecoins have develop into an enormous a part of the cryptocurrency and decentralized finance business. Julia Magas breaks down this latest providing. Despite current setbacks affecting UST and different algorithmic stablecoins, curiosity in these merchandise stays pretty excessive. Aave, a number one DeFi protocol, will introduce a totally collateralized pegged forex on … Read more

Stablecoin Giants Circle, Tether Support Ethereum in Its Upcoming PoS Transition

Issuers of the 2 largest stablecoins – Tether’s USDT and Circle’s USDC— have prolonged their assist to Ethereum because it approaches The Merge in September this 12 months. Tether feels that it’s essential that the transfer to proof-of-stake (PoS) not be used as a weapon to trigger confusion and hurt inside the ecosystem, particularly when the neighborhood broadly … Read more

Crypto Fear Factor Is Overblown, According to Stablecoin Chief

Frax Founder Sam Kazemian has revealed why public fears about stablecoins and the broader crypto market are overblown. Speaking completely to Be[in]Crypto, Kazemian defined why the possibilities of a Terra-style implosion befalling one other stablecoin resembling Frax, USDC or DAI is subsequent to unimaginable. The stablecoin founder was additionally fast to acknowledge that despite this, … Read more

Solana-Based mostly Algorithimc Stablecoin Plummets 99% After a $3.5M Flash Loan Exploit

Solana-based decentralized finance yield protocol, Nirvana, is the latest sufferer of a flash mortgage assault within the cryptocurrency area. Data from blockchain safety agency, PeckShield, revealed that the attacker managed to empty practically $3.5 million price of funds from the protocol. It all started when the entity behind the exploit used a $10 million flash … Read more

Stablecoin Bill Delayed to September After Treasury Raises Concerns

The House Financial Services Committee has pushed again its long-awaited stablecoin invoice to September following objections from Treasury Secretary Janet Yellen. This will delay congressional discussions on the topic till after the August recess, which ends on September fifth.  Stablecoins and Bankruptcy The laws – negotiated between Committee Chair Maxine Waters (D-Calif) and Patrick McHenry … Read more