The role of stablecoins in the cryptocurrency market
As a type of cryptocurrency that is designed to maintain a stable value, stablecoins have helped to mitigate the volatility that has historically been associated with other cryptocurrencies. In this article, we’ll learn about stablecoins and their role in the cryptocurrency market The world of cryptocurrencies is often characterized by tremendous volatility, with prices of […]
US Fed, Regulators warns about liquidity risks of crypto assets
The Federal Reserve and other banking authorities in the US require financial institutions to continuously monitor liquidity issues of crypto assets and build effective risk management systems. The United States Federal Reserve and other banking regulators issued a warning to financial institutions regarding the liquidity concerns connected with entities related to crypto assets. According to […]
BoJ to launch CBDC pilot in April
The Bank of Japan (BoJ) is set to start its central bank digital currency (CBDC) pilot in April 2023. The trial intends to include commercial companies and explore a CBDC ecosystem model. The Bank of Japan (BoJ) made executive director Shinichi Uchida’s opening remarks at a CBDC committee meeting public on February 17. Uchida said […]
NYDFS orders Paxos to stop issuing Binance USD
New York Department of Financial Services (NYDFS) has ordered Paxos to stop issuing Binance USD stablecoin (BUSD), one of the world’s largest stablecoin by market cap. The United States Securities and Exchange Commission (SEC), which notifies firms of impending enforcement action, sent Paxos a wells warning not long before the New York regulator took its […]
Japan to allow stablecoins for trade by June 2023
In the sequel of its plan to lift the ban on foreign stablecoins like USDT, the Financial Service Authority in Japan is expected to approve new legislation by June 2023, which will allow the use of certain stablecoins for trading. According to a local financial body, Japan’s new legislation permitting investors to trade using stablecoins […]