Biden administration sets bank-like regulations for stablecoin issuers
As part of plans to tame the rapidly growing stablecoin market, the Biden administration is said to be developing a new legal framework for stablecoin issuers that would classify them alongside banks. The Wall Street Journal reported on Friday that the government is trying to persuade Congress to create a new “special-purpose charter” for stablecoin […]
Hackers steal cryptocurrency from 6,000 Coinbase customers
Coinbase has suffered from another security compromise as hackers reportedly took advantage of Coinbase’s SMS account recovery process to gain access to user funds. According to a report from Bleeping Computer , the attackers stole cryptocurrency from 6,000 accounts, albeit the monetary worth of the loss was not reported. Coinbase apparently told affected customers earlier […]
Umbrella network launches a cross-chain bridge linking Ethereum and BSC
Umbrella Network, a decentralized oracle service, recently launched on the Ethereum network, paving the way for cross-chain transactions between the Ethereum platform and Binance Smart Chain. Umbrella Network built a cross-chain bridge connecting Ethereum and BSC in-house, highlighting the necessity to transfer tokens and other crypto assets between the two networks. Users can also stake […]
MiamiCoin generates almost $8 Million for the city of Miami
MiamiCoin has generated nearly $8 million for the City of Miami in two months of its introduction providing a continuing crypto revenue stream for the city. MiamiCoin (MIA), a “city-centric” cryptocurrency introduced by CityCoins in early August, has already raised approximately $8 million for Miami. CityCoins is a blockchain initiative that allows users to invest […]
Global CBDC system needs both public and private cooperation – BIS
The Bank for International Settlements (BIS) has published a new joint report stating cooperation between public and private sectors would be vital for a functioning global CBDC system. The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the United States Federal Reserve, Sveriges Riksbank, and the Swiss National […]