New York approves USD and JPY-backed stablecoins

New York approves USD and JPY-backed stablecoins
фото показано с : invezz.com

2020-12-30 12:57

The State of New York is well-known in the crypto world for being extremely strict about cryptocurrencies and crypto businesses alike. It has its own Bitlicense that businesses have to own to be allowed to operate within the state in the first place.

This is why its Department of Financial Services’ decision to authorize GMO-z.com Trust Company Inc. to issue two stablecoins — one pegged to the USD and the other to JPY — comes as a pleasant surprise.

The USD and JPY stablecoins to arrive in the State of New York

The arrival of the Japanese yen-pegged stablecoin is a major move, as this will be the first coin of its kind available to the public. However, seeing as GMO is a subsidiary of a Japanese corporation called GMO Internet, it is not surprising that the firm would want to issue such a coin.

The regulator announced yesterday, December 29th, that the DFS approval will allow GMO to “issue, administer, and redeem Japanese yen and U.S. dollar-pegged stablecoins in New York.“

The regulator’s announcement continued by adding that, with the charter granted to GMO, the DFS has approved 27 crypto licenses and charters to date.

Meanwhile, GMO-Z Trust Company’s president, Ken Nakamura, stated that the company is breaking ground with the move to issue a regulated yen-pegged stablecoin. He believes that many will see the coin as a safe haven.

However, above all, the company aims to be a pioneer and innovator in the crypto space, who will envision the creation of new applications of blockchain technology. In the end, the company wishes to transform the relationship between traditional financial services and cryptocurrencies.

The post New York approves USD and JPY-backed stablecoins appeared first on Invezz.

origin »

Bitcoin price in Telegram @btc_price_every_hour

OWNDATA (OWN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 6.94E-5 (-100%)

state own crypto new businesses york bitlicense

Источник: invezz.com

state own → Результатов: 126


Фото:

Bitcoin Whale Population Spikes to 1,882 – Highest Level in Three Years

The number of so-called whales with 1,000 bitcoin or more in their wallets has climbed to 1,882 from around 1,650 in January. It is the highest the numbers have reached in nearly three years. Whales may be defined as the Bitcoin ( BTC) community’s own version of the ‘deep state’, with the ability to swing […] The post Bitcoin Whale Population Spikes to 1,882 – Highest Level in Three Years appeared first on Bitcoin News.

2020-6-17 17:01


Industry’s Most Powerful Man: Only 1 in 1000 Own Crypto

Although Bitcoin is now over ten years old, the rest of the crypto market is still a relatively young asset class and unproven technology that’s valuations are based on pure speculation. According to the crypto industry’s most powerful man and influential figure, only 1 in 1000 people own cryptocurrencies, and that the current state of... The post appeared first on NewsBTC.

2020-2-8 22:00


38% of Asset Managers with State Street Plan to Invest in Crypto Next Year

While Bitcoin used to be an asset that investors stayed away from, many asset managers are considering adding it to their own portfolios nowadays. In a statement by the managing director of digital product development and innovation at State Street, Jay Biancamano, it looks like next year could be lucrative for the crypto market, but […]

2019-12-8 21:15


Фото:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Pakistan Will Issue Its Own Digital Currency By 2025

According to the Dawn, a local media outlet, Pakistan’s central bank has announced plans to have a digital currency by 2025. Digital Version of the Pakistani Rupee Speaking about the regulation of Electronic Money Institutions, non-bank entities that will be allowed to issue “e-money” for digital payments, Pakistan’s State Bank Deputy Governor Jameel Ahmad told the audience that digital currency is more efficient.

2019-4-3 04:00


Фото:

As Court Reconvenes for QuadrigaCX, Questions Surround Empty Cold Wallets

As QuadrigaCX’s legal counsel descends on the courtroom in Halifax, Nova Scotia, for another round of legal proceedings, the court monitor’s third report on QuadrigaCX’s finances — specifically its revelation that the exchange’s cold wallets are empty — lays out some hopeful avenues for fund recovery — and some frustrating dead ends.

2019-3-5 20:20


Фото:

Wyoming Passes New Friendly Regulations for Crypto Assets

The Wyoming state government has been expanding its status as a hub for crypto and blockchain technology by passing several new bills this February. According to Wyoming-based blockchain advocate Caitlin Long, the state of Wyoming has recently passed resolution SF0125 on February 14, 2019, claiming that Wyoming “law recognizes property rights in the direct ownership of digital assets.

2019-2-15 22:18


Фото:

Wyoming Becomes First State To Give Bitcoin Owners Full Property Rights

Cryptocurrency advocates are celebrating Friday after the US state of Wyoming passed a bill giving direct property rights to cryptocurrency holders. Wyoming Senate Passes Crypto Property Bill Bill SF0125 passed its second and third Senate readings February 13 and 14 respectively, and will now go before governor Mark Gordon for endorsement, becoming law as early as next week.

2019-2-15 12:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Opinion Market debuts with a model where anyone can create a market from $1

Opinion Market launches, turning debates into on-chain betting markets for user-driven participation. Opinion Market, an on-chain platform for betting on opinion-based questions, is launching today, April 8, as crypto products move further beyond trading and into participation-led market formats. Built…