The U.S. Federal Reserve recently released minutes of its latest meeting, and one of the topics they discussed was stablecoins, specifically the risk stablecoins pose to financial stability.
Daniel Lipshitz of GAP600 joined CoinGeek Backstage to talk about how is company is using the efficiency of BSV blockchain to power stablecoins.
While the sheer size of the Tether and USDT scheme makes them lightning rod for stablecoin criticism, they aren’t the only stablecoin.
The Reserve Bank of New Zealand will be consulting the public on how a CBDC can work alongside cash, as well as issues arising from digital currencies like Bitcoin (BSV) and stablecoins.
The opening day of CoinGeek Zurich included a panel session on the potential of stablecoins, with three panelists all of whom are actively working on stablecoin projects using the BSV enterprise blockchain.
Regulators have waited too long to act on so-called stablecoins, to the point where exposure to schemes like that being run using Tether has infected the entire digital asset industry—and even beyond it.
Li Bo, the deputy PBoC governor, said the apex bank is satisfied with the current digital currency regulations in China, but would seek to enforce even stricter rules for stablecoins.
The stablecoins caused consternation in the U.K. when its launch was originally mooted back in 2019, in common with governments and central banks elsewhere in the world.
Visa now settles payments for some of its partners in the USDC stablecoin–this is a major milestone for the digital currency industry.