UK regulators unveil plans to tame stablecoins

The UK is expected to introduce legislation pertaining to fiat-backed stablecoins in the early part of the upcoming year. These discussion papers represent the initial phase in shaping the new The post UK regulators unveil plans to tame stablecoins appeared first on AMBCrypto.

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Stablecoins Come Under Scrutiny As Regulators Rev Up Crypto Clampdown Efforts

US regulators are paying close attention to fiat-backed digital assets, popularly known as stablecoins, per reports from Bloomberg. Tether Under Scrutiny The crypto market has been largely left to fend for itself in the last twelve years but it seems federal regulators are now ready to step in.

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Stablecoins, Algorithms and AMOs —Changing the Future of Finance

Regulators and central banks have paid close attention in recent weeks to stablecoins as the emerging asset class hit a total market cap of more than $100 billion. They’ve recognized the asset class, up fourfold this year alone, is far too big to ignore.

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UK's FCA Chair recommends 'narrowing' regulatory focus on stablecoins and speculative tokens

Just as regulators worldwide are tightening their grip around the cryptocurrency industry, Britain's top financial watchdog appealed for expanding the scope of regulation in the country, albeit with cThe post UK's FCA Chair recommends 'narrowing' regulatory focus on stablecoins and speculative tokens appeared first on AMBCrypto.

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SEC Creates A Stand-Alone Office to Conduct Investigations into Crypto and Other Digital Assets: Report

“Crypto is the new shadow bank,” says Senator Elizabeth Warren, who says regulators should consider banning the banks in the US from holding cash deposits backing up stablecoins to effectively end the growing market.

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US financial regulators voice concerns over Tether and Facebook’s Diem

Tether (USDT/USD) and Facebook’s Diem, formerly Libra, were the main topic in a recent private meeting that discussed the risks stablecoins pose to financial systems. A report citing people familiar with the matter disclosed this news on July 27, noting that the US Treasury Secretary, Janet Yellen, led the meeting, which comprised the President’s Working […] The post US financial regulators voice concerns over Tether and Facebook’s Diem appeared first on Invezz.

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Tether (USDT) and Facebook-Backed Diem Discussed at the Yellen Closed-Door Meeting

Tether and Facebook-backed Diem were the primary topics in the U.S. meeting of regulators recently. According to reports, the meeting was held to address the financial risks posed by stablecoins.  More Details About The Concern The President’s Working Group on Financial Markets and a team of watchdogs led by Janet Yellen raised their concerns, citingRead More

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Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins

U. S. Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate U. S. regulatory framework in place” for stablecoins.

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US Treasury Secretary Mandates Federal Regulators on Stablecoin Laws

Janet Yellen, the Secretary of the US Treasury has said that it was imperative for regulators to establish a regulatory policy for stablecoins.   Stablecoin Regulation a Priority for US Authorities Yellen’s statement was revealed in a readout of the meeting held on Monday (July 19, 2021).

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Markets down, inflation up, + Elon and Kanye’s next moves...

This week markets are down as rising inflation pushes up food costs and the delta variant worsens the pandemic. Plus AXIE keeps mooning, stablecoins are in the regulatory firing line, and is CZ willing to work with regulators?

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“Tax Private Stablecoins Out Of Existence,” Proposes Latest Fed Paper Ahead Of Treasury Secretary Meeting

Written by a Professor of Finance from Yale School of Management and an attorney at the Federal Reserve System, wants regulators to take a lesson from history, the Free Banking Era because the central bank must have a “monopoly on money issuance.

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Treasury Secretary Janet Yellen Summons Regulators to ‘Discuss Stablecoins’ on Monday

Treasury Secretary Janet Yellen announced her plans this week to convene the President’s Working Group (PWG) on Financial Markets in order to discuss the interagency work on stablecoins that will take place on July 19.

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U.S. Treasury Secretary Janet Yellen Convenes Meeting to Discuss Stablecoins

Stablecoins to be the center of discussion in the upcoming meeting among federal financial regulators in the U. S. U. S. Financial Regulators to Discuss Stablecoins U. S. Treasury Secretary Janet Yellen announced yesterday that a meeting would be convened on July 19 to discuss stablecoins and their potential benefits and risks.

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Regulators Growing Concerned Over Stablecoin Risks

As the market capitalization of stablecoins surpassed $100 billion in May, regulators are growing increasingly concerned about the risks they pose. The post Regulators Growing Concerned Over Stablecoin Risks appeared first on BeInCrypto.

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US Warns of Dangers from $100 Billion Stablecoin Market

Regulators warn that stablecoins are not always as stable as users are made to… The post US Warns of Dangers from $100 Billion Stablecoin Market appeared first on Coin Journal.

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Stablecoins present new dilemmas for regulators as mass adoption looms

A close look at the policy issues relating to the potential impact of stablecoins on financial systems and economies around the world.

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Fed’s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency

The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their clients.

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US federal regulators released a new statement on stablecoins

Stablecoins have been a major topic in and out of the crypto industry recently — not only due to all the CBDCs that are being developed in the world, but also because of coins such as Facebook’s Libra.

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Facebook Reportedly To Launch Libra Cryptocurrency In Early 2021

The Libra cryptocurrency will see the green light despite the unsuccessful start of the project and pressure from regulators. Facebook could release dollar-pegged stablecoins as early as January 2021.

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BIS Report Proposes “Embedded Supervision” for Stablecoins

The paper, published on Nov 24, cites the potential of Facebook’s Libra stablecoin to become a de-facto global currency. This, they say, is evidence that regulators must accept the inevitability of stablecoin adoption and find new ways to carry out their functions.

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FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion.

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American Regulators Warm up to Crypto, Banks Authorized to Hold Stablecoins

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Opinion: control over centralized stablecoins will be tightened

Over time, global regulators will require tighter control over the movement of centralized stablecoins, said Linda Xie, co-founder of Scalar Capital. There are almost 40 addresses on the Tether blacklist, and USDC has one.

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European Central Bank: Stablecoins Need a Robust Regulatory Framework to Address Gaps and Risks

The European Central Bank looks at stablecoins as key instruments that can help consumers meet demand in the payments services, but wants regulators to be proactive in addressing regulatory gaps that can pose risks.

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G-20's Harsh Stance on Stablecoin Is a Step Forward, but Regulators Have More to Learn

Regulations can help not only legitimize stablecoins but also increase their global popularity, as per many experts

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Libra Association Concedes to Regulators, No Longer Permissionless

The Libra Association has changed its proposed model to put global regulators at ease. But will the move help quell concerns? Sovereign Stablecoins In Originally, Libra planned to create a...The post Libra Association Concedes to Regulators, No Longer Permissionless appeared first on Crypto Briefing.

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Can stablecoins reign in 2020 despite regulatory hurdles?

Stablecoins have been flagged as an area of concern by regulators around the world. What raised their eyebrows was Facebooks' grand vision for 'Libra'. The social media giant's initiative failed to coThe post Can stablecoins reign in 2020 despite regulatory hurdles? appeared first on AMBCrypto.

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Global Regulators Haven’t Properly Addressed Stablecoins

Meeting at the G-20 summit in Saudi Arabia this week, members of the Financial Stability Board discuss regulating cryptocurrency

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Ripple-backed Bitso CEO: Tech not the largest component, it's the regulatory entities 

Stablecoins have been regarded as something that could disrupt the financial stability by regulators around the world. The oldest stablecoin, Tether's tryst with the regulators, has not been smooth.

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The stablecoin regulation landscape for 2020

With the announcement of the proposed Libra digital currency in 2019, even skeptical officials were forced to accept that crypto assets are here to stay. Stablecoins are seen as a priority for 2020, with national and global regulators publishing a variety of stablecoin research across the last 12 months.

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MakerDAO founder: Govts need not be ultimate judge on regulating stablecoins

The cryptocurrency industry has immensely grown in terms of popularity over the years, along with which the regulations surrounding the same have also witnessed a change. Regulators from all around thThe post MakerDAO founder: Govts need not be ultimate judge on regulating stablecoins appeared first on AMBCrypto.

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Stablecoin Adoption Can Impact Economy, Warn Senior US Regulators

Senior U.S. financial regulators warn that stablecoins pose risks to the economy in an annual report from the Financial Stability Oversight Council

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Top US Financial Regulators Urge Monitoring of Digital Assets, Stablecoins

A panel of top U.S. financial regulators urged federal and state officials to monitor risks from digital assets like bitcoin.

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Stablecoins ‘Pose Risk to Financial Stability’ Warns Federal Reserve

Stablecoins only “complementary” if they obey regulators, suggests Fed

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Saldo App Creator: Working with Regulators Could Support Stellar’s Efforts to Serve “Real People”

Saldo, an app that uses stablecoins that are pegged to the peso, has been approved by the Mexican government for use, ensuring that 20,000 migrant workers are able to use the Stellar network to pay their bills from the US.

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Euro Regulators Urge Central Bank to Issue Regulated Digital Currency as Stablecoin Threat Looms

Regulators in Europe have called on the European Central Bank (ECB) to explore the feasibility of launching a digital currency for the bloc. Supranational agencies and governments, alike, have labeled stablecoins – especially Libra – a potential menace to financial stability.

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Stablecoins like Facebook's Libra can include features typical of regulated securities

Stablecoins seem to have garnered a lot of attention recently from many in the mainstream media after Facebook launched its own crypto-project, Libra. In fact, regulators are among those who are most The post Stablecoins like Facebook's Libra can include features typical of regulated securities appeared first on AMBCrypto.

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DAI and Tether (USDT) Stablecoins Adoption Rates Increase Despite the Uncertainty in Regulation

The adoption and regulation of Stablecoins is currently a hot topic amongst regulators across the G20 board. DAI and Tether seem to be making good progress despite the uncertainty brought about by Facebook’s Libra which the U.

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Regulate Stablecoins – Don’t Squash Them

Regulators should offer a path for stablecoins to exist alongside current financial systems, writes a fellow at Harvard's Berkman Klein Center.

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Libra Could Drop ‘Basket’ and Issue Individual Fiat Stablecoins

Under pressure from regulators, the Libra project may consider a fundamental change to the way its planned crypto payments system will operate.

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Facebook’s Libra ‘cryptocurrency’ gets desperate as it considers stablecoins

Facebook‘s controversial ‘cryptocurrency‘ Libra could be based on national currencies such as the dollar, the tech giant said on Sunday, following increased scrutiny from regulators and governments in recent months.

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Global Monetary Enforcer FATF Shares Concerns About Libra And Stablecoins

The Financial Action Task Force (FATF), one of the most important financial regulators in the world, has recently voiced some concerns about Facebook’s Libra project. According to the institution, Libra and other stablecoins could pose several risks if they were to achieve mass adoption, especially when considering money laundering and terrorist financing. Xiamgmin Liu, the […]

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European Regulators won’t Oppose Stablecoins but Double-Down on Libra Warning

Benoit Coeure, a French economist and executive director on the ECB, believes now is the time to step up the weight of regulation for digital currencies. As per Bloomberg, Coeure believes Bitcoin and other major FinTech innovations were being closely watched and allowed to unravel in their sandbox, but now with Libra, there is anRead MoreRead More.

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Libra Roundup: G7 Voice Concerns, Senator Adds Support, New Study Emerges

Today, G7 countries have documented their concerns about the impact of stablecoins on the global monetary system, US Senator Michael Rounds has offered fresh words of support, and a new survey has emerged on Libra adoption 67% of Nigerian Businesses Would Welcome Libra While Facebook’s intention to launch a global digital currency sparked reactions among governments and regulators in developed countries, no-one has bothered to ask the opinion of potential users, especially in developing countries.

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G7 countries caution against Facebook’s ‘risky’ Libra

Earlier this week I told you Facebook‘s ‘cryptocurrency‘ saga had turned into a soap opera and that it was going to be a long season, and it seems I wasn’t wrong. The technology giant is facing a new challenge after the G7 said on Thursday that such stablecoins shouldn’t be allowed to launch until international risk was assessed.

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G7 Confirms Libra Like Cryptocurrency Needs a Legal Basis

Social media giant Facebook has certainly rattled the regulatory feathers of global regulators with its grand plans for cryptocurrency world domination. Politicians and citizens alike are right to question Libra and those that will be pulling the strings behind it.

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G7 Report Labels Stablecoins as Significant Risk

The growth in stablecoin usage has soared since late 2017, and this has regulators and government bodies across the world incredibly worried. A new report formulated by central bank officials of the G7, the IMF, and the Financial Stability Board, believe that global stablecoins pose a systemic threat to the global economy and monetary stability,Read MoreRead More.

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G7 and G20 Considering Going After Stablecoins, Should They?

The proposed launch of Libra appears to be leading to some confusion among politicians and regulators with the prime example being Trump mixing Libra with bitcoin even though the two... The post G7 and G20 Considering Going After Stablecoins, Should They? appeared first on Trustnodes.

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Florida regulators investigate gold-backed crypto token’s promoters

Over the past decade, digital currencies like Bitcoin have become an important form of asset in the financial industry. However, these tokens were often not backed by significant value. Hence, the idea of stablecoins was introduced.

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