Stablecoins

WASHINGTON—U.S. lawmakers moved closer to a bipartisan agreement on new legislation that would regulate so-called stablecoins as part of efforts to impose basic safeguards on volatile cryptocurrency markets.The potential deal would mark the first significant step to apply tougher rules on an industry that developed with virtually no regulation. Biden administration officials and a bipartisan group of lawmakers worry that current laws don’t provide comprehensive standards for the new assets and have warned of potential…

Analytics Insight has listed the top 10 current cryptocurrency prices for June 29th, 2022 Bitcoin remains flat at US$20 but it seems that the stablecoins are gradually reverting back. So, overall the market is coming back from its lowest point. Analytics Insight has listed the top 10 current cryptocurrency prices as of June 29th, 2022. Bitcoin- US$20,315.03 (down by 2.31%) Ethereum- US$1148.32 (down by 3.11%) Tether- US$0.9989 (down by 0.03%) USD coin- US$1.0 (up by 0.02%) BNB- US$222.53 (down by…

As cryptocurrencies get hammered in the economic meltdown, stablecoins -- whose value is pegged to another asset like a fiat currency or a commodity -- are also bad investments and are ill-suited as a form of money, Siddharth Tiwari, the Asia-Pacific head of the Bank of International Settlements (Bis), has said.In a South China Morning Post report, Tiwari said that stablecoin name does not suggest that these are "stable" investments."Recent events show that stablecoin fails to achieve the full network effect we would…

Analytics Insight has listed the top 10 current cryptocurrency prices for June 23rd, 2022 Larger coins are dropping very low in price. However, it seems that the stablecoins are gradually reverting back. So, overall the market is coming back from its lowest point. Analytics Insight has listed the top 10 current cryptocurrency prices as of June 23rd, 2022. Bitcoin- US$20,315.03 (down by 0.83%) Ethereum- US$1087.32 (down by 1.59%) Tether- US$0.9989 (up by 0.01%) USD coin- US$0.9999 (down by 0.07%)…

Plenty of questions remain whether existing stablecoin issuers like Tether will be able to operate in Japan.Photo: Justin TALLIS / AFP (Getty Images)The Japanese are stepping out in front of the international crowd of hungry crypto-curtailing regulators, becoming the first nation to truly clarify the legal status of stablecoins and setting a precedent for more regulations on the largely-unregulated crypto industry.Bloomberg and the Financial Times reported Japan’s new law passed by the upper house of parliament Friday…

The world's biggest stablecoin, tether, saw more than $10 billion in redemptions in May, fueling fears of a 2008-style "bank run."Justin Tallis | AFP via Getty ImagesBritain wants to make sure stablecoins don't end up threatening the wider financial system following the collapse of controversial crypto project Terra.The government on Tuesday proposed amending existing rules to manage the failure of stablecoin firms that may pose a "systemic" risk. The proposal is separate from previously announced plans to regulate…

In this article, we will throw light on top 10 stablecoins and cryptocurrencies that might follow the demise of Terra This probably isn’t the best phase of the cryptocurrency market. The brutal bloodbath pertaining to the cryptocurrency market has sent shockwaves across nations. Out of all the cryptocurrencies, one that has grabbed eyeballs because of a drastic fall in its value is Terra. If you are of the perception that Terra’s downfall is a beginning of an unwanted turmoil in the crypto domain, you…

WASHINGTON—A U.S. central bank digital currency could one day provide consumers with a level of safety amid a proliferation of privately-issued digital assets such as stablecoins, Federal Reserve Vice Chairwoman Lael Brainard told House lawmakers Thursday.Ms. Brainard told the House Financial Services Committee that in the future a central bank digital currency could coexist with and be complementary to stablecoins by providing a widely available, government-backed means of payment. “It…

WASHINGTON—A U.S. central bank digital currency could one day coexist with and even complement so-called stablecoins, Federal Reserve Vice Chairwoman Lael Brainard plans to tell House lawmakers Thursday.“In some future circumstances, CBDC could coexist with and be complementary to stablecoins and commercial bank money by providing a safe central bank liability in the digital financial ecosystem, much like cash currently coexists with commercial bank money,” Ms. Brainard is expected to tell…

Tether has faced repeated calls for a full audit of its reserves.Justin Tallis | AFP via Getty ImagesInvestors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world's largest stablecoin.Tether's circulating supply has slipped from about $83 billion a week ago to less than $76 billion on Tuesday, according to data from CoinGecko.The so-called stablecoin is meant to always be worth $1. But on Thursday, its price slipped…