Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, […]
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The Central Bank of Russia is intending to use a local, FSB-approved blockchain for its upcoming e-mortgage project. The Central Bank of Russia is reportedly developing a digital mortgage platform powered by a domestically developed blockchain called Masterchain, local state-owned news agency Ria reported on May 28. According to Olga Skorobogatova, first deputy governor at […]
Continue ReadingExperts believe that Libra’s hiring spree signifies a willingness to comply with existing legal and financial guidelines. Following a big-time update to its white paper in mid-April, the Libra Association has over the past couple of weeks made a string of striking new additions to its core governance team, including appointing Robert Werner as its […]
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Most crypto analysts believe that proper regulation is needed when it comes to promoting the legitimacy of stablecoins. According to a study released by the G-20’s Financial Stability Board on April 14, stablecoins pose a pertinent risk to the financial stability of the global economy and therefore need to be regulated in a manner that […]
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Demand for USDC and PAX has grown but USDT still leads among stablecoins, fiat and cryptos when it comes to volume into Bitcoin. While Tether (USDT) is currently the most popular stablecoin by far when it comes to trading volume and market capitalization, the latest Exchange Review from CryptoCompare shows that other stablecoin projects such […]
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The G20’s Financial Stability Board issued a study on stablecoins, analyzing their merits and threats as the Libra project continues to spook regulators. Stablecoins can pose risks to financial stability and need to be adequately regulated, according to the Group of 20. The G20’s Financial Stability Board (FSB) issued a comprehensive stablecoin study on April […]
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The FBI arrest a Russian rapper living in the U.S. for money laundering using, among evidence, Instagram pictures including huge wads of cash, both dollars and rubles. United States authorities have arrested a Russian national under allegations of money laundering — using his Instagram that promoted his rap career as evidence against him. Per court […]
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Russia’s relationship with blockchain and cryptocurrency wasn’t clear, but the country is making steps toward digital economic development. The volume of cryptocurrency flows on darknet markets — which are involved in illegal drug and arms trafficking, remittance and transfer of illicit funds — have doubled for the first time in four years, a new report […]
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The Bank of England’s deputy governor has warned that stablecoin adoption could have profound implications for the money creation of national economies. Jon Cuncliffe, the deputy governor for financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the emergence of a cryptocurrency economy may weaken or eliminate bank […]
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The senior Bank of England official believes that regulators must act quickly to prevent major tech firms from using stablecoins to dominate the payments sector. Bank of England (BoE) chief cashier Sarah John has expressed opinions favoring state-issued digital currencies, according to a Feb. 22 article published by The Telegraph. She urged other central banks […]
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