BIS Advocates Urgent Global Stablecoin Regulation
BIS calls for immediate global regulation of stablecoins due to fragmented laws, echoing Senator Warren’s financial security concerns. The Bank for International Settlements (BIS) recently emphasized the need for stablecoins to be regulated globally. BIS determined in an examination of eleven jurisdictions that regulatory fragmentation is a substantial barrier to the implementation of stablecoins. The […]
Paxos to Launch USD Stablecoin in Singapore
Initial sanction has been granted for a new local Paxos entity to issue the USD-backed token by Singapore’s stablecoin regulations. The regulatory authority in Singapore has granted preliminary sanction to Paxos, a crypto infrastructure firm, for a new entity devising strategies to introduce a stablecoin backed by the U.S. dollar. Paxos announced in a statement […]