Nigeria to launch stablecoins, ICOs legal framework
Nigeria has expressed willingness to allow the existence of private stablecoins in the country with its most recent central bank policy document noting the need to establish a legal framework for stablecoins. The Central Bank of Nigeria (CBN) research, titled “Nigeria Payments System Vision 2025,” is 83 pages long and examines the creation of a […]
Japan’s FSA set to lift ban on foreign stablecoins in 2023
The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023. Major cryptocurrency regulations relating to the usage of stablecoins like Tether ($USDT $1.00) or USD Coin ($USDC $1.00) are being reexamined by Japanese regulators. According to local news outlet Nikkei, Japan’s Financial Services Agency (FSA) […]
Bank of Canada emphasizes need for stablecoin regulation
A note by Central bank researchers says regulation is the key to reaping the benefits of fiat-referenced crypto assets, stablecoin. On December 19, Bank of Canada employees published an analytical note on fiat-referenced crypto assets, also known as stablecoins. The note included an overview of the processes for producing and dispersing stablecoin, a list of […]
Jewel, Bermuda-based bank, to launch stablecoins on Polygon
Jewel Bank in Bermuda, has formed a partnership with the technology firm Polygon to launch a stablecoin backed by U.S. dollars. According to Jewel Bank founder and chairman Chance Barnett, institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin pegged exactly to the US dollar. The first stablecoin to be […]
Stablecoin framework is near-term priority for Australian regulators
As stablecoin become widely used as a means of payment, Australia is preparing to regulate them accordingly. Payment stablecoin could be incorporated into the framework for regulating stored-value facilities, according to Australian financial regulators who are “working on options”. Such inclusion would be a component of more extensive changes to the nation’s regulatory structure for […]