In a significant move, South Korea’s Financial Services Commission (FSC) has announced a comprehensive restructuring of its Financial Intelligence Unit (KoFIU).
Stablecoin News
In a recent turn of events, Real USD (USDR), a Polygon-based stablecoin backed by real estate holdings, witnessed a significant depreciation in its value, dropping nearly 50% within a few hours.
Hong Kong’s retail investors have shown a marked increase in their interest in cryptocurrencies, as revealed by recent surveys.
In a move that could reshape the landscape of the cryptocurrency industry, the US Consumer Financial Protection Bureau (CFPB) is actively considering the application of the Electronic Fund Transfer Act (EFTA) to cryptocurrency platforms.
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PayPal, the global payment giant, has made a significant move in the cryptocurrency space by introducing its proprietary stablecoin, PYUSD, to Venmo.
The stablecoin economy has shown resilience despite a relatively lackluster performance over the past 30 days, with fluctuations slightly above or below the $124 billion mark. In the past 24 hours, the global trade volume for fiat and commodity-pegged tokens reached an impressive $11.55 billion.
The decentralized finance (DeFi) sector experienced a notable decline in economic activity in August, with trading volumes across DeFi protocols dropping to $52.8 billion, marking a 15.5% decrease from July.
The cryptocurrency world has witnessed a notable reshuffling in the stablecoin sector, with Tether (USDT) experiencing a decline in its market capitalization for the first time in nine months.
In a recent event, Justin Sun, the founder of TRON and a member of the HTX Global Advisory Committee, was a prominent figure at the 2023 Milken Institute Asia Summit held on September 14. During this event, Sun had an in-depth conversation with Kirk Wagar, the President of Wagar Global Advisors and Former Ambassador of the US to Singapore.
In a significant move towards global financial stability, the G20 Leaders’ Summit, held in New Delhi, has endorsed a comprehensive roadmap for cryptocurrency regulations.
Visa, the global payments giant, is setting its sights on a future that encompasses more than just traditional currencies and banking systems.
In a week that has been nothing short of transformative for the cryptocurrency landscape in Latin America, two major developments have taken center stage.
In a recent discussion with Reflexer Finance, Ethereum co-founder Vitalik Buterin offered his insights into the burgeoning landscape of liquidity staked derivatives (LSDs) and the role of stablecoins like RAI.
In a surprising move, Binance, one of the world’s leading cryptocurrency exchanges, has announced its intention to launch a new stablecoin.
The cryptocurrency analysis platform CCData released the “Stablecoins and CBDC Report”, showing that the total market value of stablecoins continued to decline in August.
John Reed Stark, former head of the Internet Enforcement Office of the US Securities and Exchange Commission (SEC), stated on the social media platform X that the US cryptocurrency field is suffering unprecedented financial regulatory shocks.
According to The Block, the total stablecoin supply has been declining since mid-2022.
Ethena Labs founder Guy Young said that stablecoins need to focus on liquidity, not decentralization.
JPMorgan analyst Nikolaos Panigirtzoglou said that the PayPal stablecoin may benefit Ethereum by increasing its total value locked (TVL).
The Federal Reserve has announced plans to oversee new activities that include cryptocurrencies and other emerging asset classes.
David Wells, CEO of Enclave Markets, said that PayPal announced the launch of the stablecoin PYUSD, and it is unclear what direct impact it will have on USDC.
Stablecoin provider Tether’s second-quarter financial audit revealed a significant increase in Bitcoin reserves, which increased by $170 million from the first quarter to a total value of $1.67 billion.
The total staked value of stUSDT has soared to the $450 million mark. Data from the official website shows that the total amount of stUSDT pledged is currently 455,885,279 USDT, breaking through the $450 million mark.
Recently proposed changes to the 2024 National Defense Authorization Act (NDAA) could pose significant challenges for stablecoin issuers, including USDC, according to Berenberg analyst Mark Palmer.
According to data disclosed by Tom Wan, an analyst on 21co, the parent company of 21Shares, the total market value of Ethereum stablecoins has dropped from 100 billion to 76 billion.
The U.S. House of Representatives Financial Services Committee will vote this week on several bills that would create a regulatory framework for cryptocurrencies.
Binance announced that it will list First Digital USD (FDUSD). For most people, this may be the first time they have heard of this stable currency project.