Russia’s Sberbank has filed an application with the country’s banking regulator to launch its own stablecoin.
The outcome of the case could have a huge impact on digital asset markets, with Tether regarded as the asset that backs up much of BTC's (and other popular assets) price.
Her Majesty’s Treasury has opened consultation on proposed laws to govern “crypto-assets and stablecoins” until March 21.
With a large portion of the "money" flowing into digital asset markets recently coming from USDT, any regulatory action against it could have a large negative impact, Jon Southurst writes.
The New York Department of Financial Services granted a charter to GMO-Z.com Trust Company Inc. to issue the GYEN stablecoin in the state.
Rep. Maxine Waters, said the incoming government should ‘rescind or monitor’ recent cryptocurrency guidance outlined by the department.
Facebook has been threatened with legal action after rebranding its Libra stablecoin to “Diem,” following objections from a finance startup with the same name.
Finance ministers and central bank governors from across the Group of 7 countries discussed crypto assets and their increasing role in the global financial system.
The company is hiring a new payments head, with digital currencies, CBDCs and decentralized ledger technology among the areas of focus.
The STABLE Act seeks to treat stablecoin issuers as banks, requiring them to obtain a banking charter and abide by all the current baking regulations.
The Chinese model for its digital yuan is a better template for Russia in exploring a central bank digital currency, central bank officials said.