As the overall cryptocurrency market continues to expand with more user participation, stablecoin providers have been competing to gain major market share. As it seems, stablecoin Tether (USDT) continues to dominate the market with a $61 billion USDT coins floating in the market. However, it seems that competitors like Circle’s USDC and Binance’s BUSD are
As the overall cryptocurrency market continues to expand with more user participation, stablecoin providers have been competing to gain major market share. As it seems, stablecoin Tether (USDT) continues to dominate the market with a $61 billion USDT coins floating in the market. However, it seems that competitors like Circle’s USDC and Binance’s BUSD are
In recent testimony before the House Committee on Financial Services, Julia Friedlander testified about the critical subject of CBDCs, their rapid expansion, and the progress of the United States in their CBDC development. Friedlander has served as an economist for the CIA and an advisor for the Treasury Department’s Office of Terrorism and Financial Intelligence,
In recent testimony before the House Committee on Financial Services, Julia Friedlander testified about the critical subject of CBDCs, their rapid expansion, and the progress of the United States in their CBDC development. Friedlander has served as an economist for the CIA and an advisor for the Treasury Department’s Office of Terrorism and Financial Intelligence,
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. DOJ reportedly sent out letters to Tether executives informing them that they are targets of the investigation. A decision on whether
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. DOJ reportedly sent out letters to Tether executives informing them that they are targets of the investigation. A decision on whether
Reserve Bank of India (RBI), the Indian central bank is planning a phased roll-out of the central bank-issued digital currencies (CBDC), revealed RBI deputy governor T Rabi Sankar. The phased roll-out plan has been discussed keeping the changes required in the nation’s foreign exchange rules and information-technology laws. “Like other central banks, RBI has also been
Reserve Bank of India (RBI), the Indian central bank is planning a phased roll-out of the central bank-issued digital currencies (CBDC), revealed RBI deputy governor T Rabi Sankar. The phased roll-out plan has been discussed keeping the changes required in the nation’s foreign exchange rules and information-technology laws. “Like other central banks, RBI has also been
Amid the growing demand for regulating the use of stablecoins, Paxos has called out Tether (USDT) and Circle (USDC) for issuing non-regulated stablecoins. Paxos’ General Counsel and Chief Compliance Officer Dan Burstein has lashed out at the two players, in what he claims to be false claims. Recently, Circle claimed that USDC is the “world’s
Amid the growing demand for regulating the use of stablecoins, Paxos has called out Tether (USDT) and Circle (USDC) for issuing non-regulated stablecoins. Paxos’ General Counsel and Chief Compliance Officer Dan Burstein has lashed out at the two players, in what he claims to be false claims. Recently, Circle claimed that USDC is the “world’s
Bitstamp, a bitcoin exchange based in Luxembourg has announced the launch of Tether’s first Euro-based stablecoin, EURt. Tether-issued stablecoins already hold a dominant position in the European crypto sphere, and with rising demand for stablecoins, EURt could be the answer to exceptional profit margins for Bitstamp. The press released has dated the launch to 22nd
Bitstamp, a bitcoin exchange based in Luxembourg has announced the launch of Tether’s first Euro-based stablecoin, EURt. Tether-issued stablecoins already hold a dominant position in the European crypto sphere, and with rising demand for stablecoins, EURt could be the answer to exceptional profit margins for Bitstamp. The press released has dated the launch to 22nd
Digital Yuan (e-CNY), the Chinese soverign national digital currency is now being used as a settlement tool for insurance policies. Insurance giant Ping An Property & Casualty Shenzhen Branch teamed up with Bank of China Shenzhen to issue the first even digital yuan settled insurance policy. The policy is exclusively available for the medical staff
Digital Yuan (e-CNY), the Chinese soverign national digital currency is now being used as a settlement tool for insurance policies. Insurance giant Ping An Property & Casualty Shenzhen Branch teamed up with Bank of China Shenzhen to issue the first even digital yuan settled insurance policy. The policy is exclusively available for the medical staff
Circle issued USDC has become one of the fastest-growing stablecoin in the crypto market. The company is all set to go public on Nasdaq later this year after finalizing a SPAC acquisition deal a couple of weeks back giving it a $4.5 billion valuation. With a clear aim to dominate the crypto market USDC is
Circle issued USDC has become one of the fastest-growing stablecoin in the crypto market. The company is all set to go public on Nasdaq later this year after finalizing a SPAC acquisition deal a couple of weeks back giving it a $4.5 billion valuation. With a clear aim to dominate the crypto market USDC is
Tether issued USDT is the biggest stablecoin player in the market with $61.9 billion in market cap. The top stablecoin has been often associated with Bitcoin (BTC) price boost FUDs in the past. The ongoing bearish market sentiments that have continued since May market mayhem also coincides with USDT’s non-issuance. The last market issuance of
Tether issued USDT is the biggest stablecoin player in the market with $61.9 billion in market cap. The top stablecoin has been often associated with Bitcoin (BTC) price boost FUDs in the past. The ongoing bearish market sentiments that have continued since May market mayhem also coincides with USDT’s non-issuance. The last market issuance of
Jerome Powell, the Federal Reserve Chairman has publicly admitted that he is unsure of the Fed issuing its own Central Bank Digital Currency (CBDC). However, he asked for approval from the US government, before the Federal Reserve takes any further actions towards the creation of CBDCs. “I am legitimately undecided on whether the benefits outweigh
Jerome Powell, the Federal Reserve Chairman has publicly admitted that he is unsure of the Fed issuing its own Central Bank Digital Currency (CBDC). However, he asked for approval from the US government, before the Federal Reserve takes any further actions towards the creation of CBDCs. “I am legitimately undecided on whether the benefits outweigh
People’s Bank of China (PBOC), the Chinese central bank today released the white paper for its upcoming digital CNY (DCEP). The central bank also gave an official English name to the digital fiat called e-CNY. China has been at the forefront of CBDC development, having started research and development for the same as early as
People’s Bank of China (PBOC), the Chinese central bank today released the white paper for its upcoming digital CNY (DCEP). The central bank also gave an official English name to the digital fiat called e-CNY. China has been at the forefront of CBDC development, having started research and development for the same as early as
The European Central Bank (ECB) has announced a major step towards the launch of its sovereign digital currency goals by approving an investigation phase. The investigation phase would be 2 years long and focus on researching various aspects of a central bank-issued digital currency. “We have decided to launch a project to prepare for possibly
The European Central Bank (ECB) has announced a major step towards the launch of its sovereign digital currency goals by approving an investigation phase. The investigation phase would be 2 years long and focus on researching various aspects of a central bank-issued digital currency. “We have decided to launch a project to prepare for possibly
The comment period for Federal Reserves’ newly proposed payment and account access guidelines came to an end today. This new regulation is very critical for the crypto ecosystem as per Caitlin Long, founder, and CEO of Avanti crypto bank. 1/ THREAD ABT REGULATORY NEWS in #crypto, which I’ve been chronicling on twitter since April. Seems
The comment period for Federal Reserves’ newly proposed payment and account access guidelines came to an end today. This new regulation is very critical for the crypto ecosystem as per Caitlin Long, founder, and CEO of Avanti crypto bank. 1/ THREAD ABT REGULATORY NEWS in #crypto, which I’ve been chronicling on twitter since April. Seems
UAE Central Bank (UAECB) has announced its strategic objectives for 2023-2026, with their new and enhanced Digital Strategy that would include the much-awaited and grand launch of Central Bank Digital Currency (CBDC). UAE Central Bank has been discussing its interest in CBDC for a while now, and the 2023-2026 Strategy has provided a definite timeline
UAE Central Bank (UAECB) has announced its strategic objectives for 2023-2026, with their new and enhanced Digital Strategy that would include the much-awaited and grand launch of Central Bank Digital Currency (CBDC). UAE Central Bank has been discussing its interest in CBDC for a while now, and the 2023-2026 Strategy has provided a definite timeline
China is currently aggressively testing its CBDC called digital yuan across multiple provinces in the country. It is all set to expand the trials to over 10 million new eligible users in the coming days as per the Chinese Central Bank deputy governor. Fan Yifei, the deputy governor during his recent address said that people willing
China is currently aggressively testing its CBDC called digital yuan across multiple provinces in the country. It is all set to expand the trials to over 10 million new eligible users in the coming days as per the Chinese Central Bank deputy governor. Fan Yifei, the deputy governor during his recent address said that people willing
Fan Yifei, Deputy Governor of the People’s Bank of China mentioned the speculative nature of both Bitcoin (BTC) and Stablecoins, at the State Council policy briefing this morning. He said bitcoin and stablecoins are a potential threat to the state’s financial security and social stability, as the decentralized digital currency has become a gateway to
Fan Yifei, Deputy Governor of the People’s Bank of China mentioned the speculative nature of both Bitcoin (BTC) and Stablecoins, at the State Council policy briefing this morning. He said bitcoin and stablecoins are a potential threat to the state’s financial security and social stability, as the decentralized digital currency has become a gateway to
Tether (USDT), the world’s third-largest cryptocurrency by market cap and USD-backed stablecoin is once again in the limelight and controversy. This time it’s the economists and officials from the U.S. Federal Reserve who have raised serious concerns over Tether’s operations. Investors are concerned that any loss of confidence in Tether (USDT) can lead to a
Tether (USDT), the world’s third-largest cryptocurrency by market cap and USD-backed stablecoin is once again in the limelight and controversy. This time it’s the economists and officials from the U.S. Federal Reserve who have raised serious concerns over Tether’s operations. Investors are concerned that any loss of confidence in Tether (USDT) can lead to a
Japan will have more clarity on its CBDC product digital Yen, by the end of next year. According to a lawmaker who is overseeing the ruling party’s digital currency plan, the CBDC development may potentially be the beginning of a turf war between traditional lenders and online platform operators. Bank of Japan will be moving
Japan will have more clarity on its CBDC product digital Yen, by the end of next year. According to a lawmaker who is overseeing the ruling party’s digital currency plan, the CBDC development may potentially be the beginning of a turf war between traditional lenders and online platform operators. Bank of Japan will be moving
Bank of Israel, the Israeli Central Bank today announced they would use Ethereum blockchain technology for its CBDC pilot program, as reported by Bloomberg. The first trial for digital Shekel will be an internal pilot run as per the country’s financial daily Globes. The deputy governor of the Israeli central bank Andrew Abir said that
Bank of Israel, the Israeli Central Bank today announced they would use Ethereum blockchain technology for its CBDC pilot program, as reported by Bloomberg. The first trial for digital Shekel will be an internal pilot run as per the country’s financial daily Globes. The deputy governor of the Israeli central bank Andrew Abir said that
The crypto market is currently in a consolidation phase as bearish sentiments are dominant ever since last month’s market correction. Over the past 24-hours, the crypto market has lost 4% of its market cap which dipped below $1.5 trillion for a brief period. Key on-chain metrics and market indicators suggest the crypto market is going
The crypto market is currently in a consolidation phase as bearish sentiments are dominant ever since last month’s market correction. Over the past 24-hours, the crypto market has lost 4% of its market cap which dipped below $1.5 trillion for a brief period. Key on-chain metrics and market indicators suggest the crypto market is going
