Huobi explains that the depeg was caused by a decision to close market maker accounts in several regions to comply with regulations.
The company also announced it would expand the number of digital assets it supports for balances. It will now include BTC, ETH, LTC, XLM, AXS, and USDT.
The Bank of Russia says that stablecoins are risky because the underlying pool of assets doesn’t belong to the user, and there’s no guarantee of redemption.
The Financial Stability Board has stayed away from the industry but says the recent Terra debacle has made it rethink its stand as it called for strict oversight over Bitcoin.
HandCash plans to create bridges from BSV to USDC that live on other protocols, allowing token holders from large digital currency communities to begin using Bitcoin apps and services seamlessly.
A Chinese court has ruled that local companies can’t pay their workers’ wages with USDT (aka Tether) because the government—like everyone else—doesn’t recognize the stablecoin as legitimate.
Novi users will lose all access to the wallet in September as Meta urges them to withdraw their funds, ending the roller coaster that has been the Diem project.
The Reserve Bank of India states that digital assets don't pose a significant risk because the market is relatively small, but it thinks that as the ecosystems they support grow, their risks are likely to increase.
Coinbase is facing liquidity rumors after the struggling cryptocurrency exchange conflated its in-house stablecoin with the U.S. dollar for online trades.
BlockFi announced the new license this week, coming just a fortnight after the platform paid close to $1 million to the state’s regulator for securities violations.
Some hedge funds are using Genesis Global Trading to short Tether, and they’ve upped the ante since the implosion of Terra’s UST algorithmic stablecoin, according to the Wall Street Journal report.