Stablecoins Could ‘Fundamentally Alter’ Banking System, Says US FDIC Chief

2022-10-21 17:00

Stablecoins could have such a profound effect on the established banking system that U.S. regulators need to require that the digital tokens fit in without disrupting it, said Martin Gruenberg, the acting chairman of the Federal Deposit Insurance Corp. origin »

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stablecoins banking system could disrupting fit without

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Источник: coindesk.com

stablecoins banking → Результатов: 73

U.S. banking lawyer: Stablecoins need regulation similar to banks

Randy Guynn, a prominent U.S. banking attorney, has called for stablecoins to be subject to bank-level regulations. Speaking before the U.S. House Financial Services Committee, Guynn argued that stablecoins should offer the same level of safety as insured bank deposits…

2025-3-12 21:23	US Congress
stablecoins banking guynn should argued services financial

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United Texas Bank CEO wants to 'limit the issuance of US dollar-backed stablecoins to banks'

Scott Beck, the CEO of United Texas Bank, claimed that stablecoin issuers like Circle were “effectively sucking deposits out of the banking industry.”

2022-8-22 00:19	доллар
united texas bank ceo effectively like circle

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ECB believes CBDCs are better than Bitcoin for cross-border remittances

The European Central Bank’s (ECB) latest study regarding an ideal cross-border payment system claims central bank digital currencies (CBDCs) are superior to Bitcoin, stablecoins, and other traditional banking means including SWIFT.

2022-8-2 15:30	Banking
ecb cross-border central bank bitcoin cbdcs stablecoins

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Jewel chooses ERC-3643 and Tokeny platform to issue stablecoins on Polygon

Jewel, a Bermuda-based digital asset banking platform, announced today a partnership with Tokeny, a blockchain-asset compliance infrastructure provider. Through the partnership, Jewel will power real-time settlement for digital asset institutions via its own bank-issued USD stablecoin on the Polygon, the popular blockchain development platform, offering scalable and sustainable Web3 infrastructure.

2022-5-17 21:08	токены
platform jewel digital polygon partnership asset infrastructure

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'Failure Should Be an Option,' US Sen. Pat Toomey Says of UST Turmoil

Sen. Pat Toomey, the Banking Committee’s top Republican, doesn’t want asset-backed stablecoins tarnished by the UST drama.

2022-5-12 23:51	policy
toomey ust sen pat republican drama doesn

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Stablecoins Need to Set a Common Standard, Says US Banking Watchdog

Stablecoins should have the same kind of standard-setting initiative previously seen in setting up common web practices in the early days of the internet, said Acting U.S. Comptroller of the Currency Michael Hsu.

2022-4-27 17:44	policy
stablecoins common practices web setting early days

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In the Wildcat Era of Stablecoins, Commercial Banks Have New Rails to Ride

Today's stablecoin market mirrors the “wildcat banking” era of the mid-1800s, when banks printed their own dollars. Like then, federal intervention is likely.

2020-6-17 21:42	CBDCs
banks era wildcat own dollars when like

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Banking API Platform Sila Raises $7.7M on Promise of Programmable Money

The $7.7 million round from Madrona Venture Group and others will help Sila bring bespoke stablecoins to fintech entrepreneurs.

2020-4-9 15:00
sila others help group venture bespoke fintech

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Cryptocurrency Could Kill Bank Lending, Warns Bank of England Deputy Governor

In the cryptocurrency economy, the supply of credit through the banking system could disappear, warned Bank of England Deputy Governor Sir Jon Cunliffe. That would be a change with “profound economic consequences,” he added, emphasizing the risks from Facebook’s Libra project and global stablecoins.

2020-3-2 20:45	Stablecoins
bank deputy cryptocurrency governor england could added

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Stablecoins Are Crypto’s Version of Fractional Reserve Banking

Stablecoins provide much sought after stability in the volatile crypto markets. They are sometimes even said to affect the price of bitcoin in drastic fashion. Tether (USDT) in particular continues to be widely scrutinized for this, with recent lawsuits about conflicts of interest and price manipulation being hotly contested.

2020-1-6 10:11
stablecoins price crypto scrutinized particular widely continues

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Circle CEO Jeremy Allaire Slams Tether for Being Unregulated Offshore Banking Solution

Circle CEO Jeremy Allaire openly shreds Tether for its lack of regulatory compliance while celebrating the success of USDC and stablecoins in general

2020-1-3 21:20
circle tether jeremy ceo allaire success celebrating

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SEC Chairman highlights DLT, stablecoins, Libra before Senate Banking Committee

The United States' Securities and Exchange Commission [SEC] seems to be very active in the crypto-industry now, following its several attempts to regulate various parts of the industry. Recently, the The post SEC Chairman highlights DLT, stablecoins, Libra before Senate Banking Committee appeared first on AMBCrypto.

2019-12-11 10:00	Trading View
sec senate committee banking libra chairman highlights

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Stablecoin Cryptocurrencies: Another Look at the Good, Bad and Ugly of Fiat Tokens

Another Look at Stablecoins When cryptocurrencies like Bitcoin were first hitting the digital world from their respective white papers, we were residing in a time of financial turmoil. With the financial crash of 2008/9 destroying (for many) the trust of the people in major banking institutions.

2019-6-3 09:15	Stablecoins
cryptocurrencies financial another look many destroying turmoil

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Nuo Network Announces Wyre Integration for Mainstream Adoption, Lets Users Earn Interest with Debit Cards

Starting today, cryptocurrency users in the United States will be able to earn interest on their digital assets. Decentralized finance (DeFi) marketplace Nuo Network is partnering with Wyre to open peer-to-peer lending and borrowing to millions of people in the country.

2019-5-17 14:17	Press releases
users wyre nuo interest earn debit network

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In Light of Tether’s Fractional Reserve, a Shadow of Fiatcoins’ Future

Tether has taken a lot of heat for admitting it is running a fractional reserve. There’s no doubt that Tether’s unregulated nature makes this approach risky and that its lack of transparency is unsettling, but the entire modern banking system is architected on fractioned assets.

2019-5-13 16:37	Investing
tether banking these banks may assets like

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TD Ameritrade Tests Bitcoin And Litecoin Paper Trades

Heavy hitters in traditional finance are now testing out the crypto waters. While Goldman Sachs and JP Morgan explore value transfer through stablecoins, banking and investments giants like eTrade and TD Ameritrade appear to be exploring digital currency investments to their users.

2019-4-28 21:11	Financial Services
ameritrade crypto investments trades bitcoin paper tests

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6 Banks Sign up to Issue Stellar-based Stablecoins on IBM’s World Wire

CoinSpeaker 6 Banks Sign up to Issue Stellar-based Stablecoins on IBM’s World WireIBM announced today that its global payment network, IBM Blockchain World Wire, has enabled payment locations in 72 countries, with 47 currencies and 44 banking endpoints and that it has signed letters of intent with six global banks.

2019-3-19 21:43	XRP
ibm world banks stablecoins wire stellar-based sign

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Stablecoin Classifications, Regulations, and Tax Implications from a Certified Public Accountant

Stablecoins are the latest innovation to emerge over the past year and have the potential to revolutionize not only virtual currency markets but to also become a new mechanism for worldwide commerce.

2019-2-27 14:58	Regulation
mechanism stablecoins stablecoin accountant implications regulations certified

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JP Morgan Set to Launch its Own Native Cryptocurrency for Cross-Border Payments

Banking giant JP Morgan is ready to launch a trial on a blockchain-based international remittance system, according to a report by CNBC. JP Morgan’s Token Will Function Like Stablecoins The cryptocurrency, dubbed “JPM Coin,” will be pegged to the US dollar in a 1:1 ratio similar to stablecoins.

2019-2-15 16:59	Cryptocurrency
morgan cryptocurrency launch payments stablecoins own native

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DAI – A Decentralized Opposition to the ‘Banking Cartel’ of Stablecoins Accumulates 1.7 Million Eth in Reserves

Not without an ample dose of skepticism, 2018 can indeed be referred to as the year of the stablecoin. Amid total backlash against Tether, and yet high demand for stable cryptocurrency as a means of settlement, a growing cohort of stable coin solutions were rolled out to the market.

2019-1-14 21:46	Stablecoins
stablecoins stable dai eth reserves banking opposition

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New Texas Department Of Banking Policies May Require Stablecoins Creators To Gain Licensing Approval

Updated Policies With Texas’s Department Of Banking May Require Stablecoin Issuers To Gain Licensing Approval Cryptocurrency is categorized into many different classifications on a federal level and state level.

2019-1-5 20:30	News
require approval licensing gain new level texas

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Texas Financial Watchdog May Recognize Stablecoins as Money for Licensing Purposes

A memo from the Texas Department of Banking considers treating stablecoins as money under the Texas Money Services Act

2019-1-5 03:56	Cryptocurrencies
money texas stablecoins act department banking considers

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Stablecoin Issuers May Need Licenses in Texas, Unlike Most Crypto Startups

A new memo by the Texas Department of Banking notes that stablecoins may fall under the state's definition of "money" and therefore would be subject to money transmission laws.

2019-1-5 01:35	Regulations
money texas may issuers definition state fall

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BlockFi Announces Global Expansion of Its Crypto-Backed Loan Services

Galaxy Capital–backed BlockFiis taking its loan services to the global stage. According to a statement shared with Bitcoin Magazine, the platform is expanding its services to an international audience.

2018-10-31 17:17	Startups
blockfi services prince bitcoin usd loan said

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Is Crypto-Finance the New Banking? Coinbase and Circle to Blacklist Suspicious IP Addresses for USDC

The rapid launch of several stablecoins offerings in 2018 seems comparable to the ICO boom in 2017, with most price-stable tokens built by premier crypto companies or invested in by venture capital funds.

2018-10-26 05:00	vitalik buterin
usdc addresses suspicious new banking coinbase crypto-finance

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A New Australian Dollar-Backed Stablecoin Slated to Launch on Stellar

Utility billing and payment services provider Novatti is launching a new Australian dollar (AUD)-backed stablecoin known as the Novatti AUD Utility Token on the Stellar Network.

2018-10-25 20:58	Digital assets
stellar stablecoin novatti network platform aud australian

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Coinbase Just Added Its First Stablecoin

Coinbase is integrating its first stablecoin, joining other top exchanges in what has become a listing race to add Tether’s rising competitors. As detailed in an October 23, 2018, blog post, Coinbase has added support for Circle’s USD Coin (USDC).

2018-10-24 20:14	Digital assets
coinbase stablecoin circle usdc company blog coin

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As Tether’s Peg Slips, Bitcoin Price Is Distorted Across Market

Tether’s peg is slipping, and an exchange-wide firesale has led to major price discrepancies between bitcoin’s BTC/USDT and BTC/USD trading pairs across the market.

2018-10-16 22:06	Digital assets
trading usdt btc bitcoin price tether usd

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Japanese Internet Monolith GMO to Launch Yen-Pegged Stablecoin

GMO Internet Group is working to launch a stablecoin by 2019. In an announcement released on Tuesday, October 9, 2018, the Japanese IT conglomerate said it is putting all gears in place to begin building its stablecoin, called the GMO Japanese Yen (GJY).

2018-10-10 02:10	Digital assets
gmo stablecoin company bank crypto gjy japanese

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In Search of Stability: An Overview of the Budding Stablecoin Ecosystem

Stability. The word seems to be at complete odds with the current nature of the crypto market. With its flagship coin having “died” on hundreds of occasions, volatility and meteoric price swings have come to define cryptocurrencies, as price stability, ever-elusive, is in short supply.

2018-10-3 19:05	Digital assets
tether stablecoin coins model stablecoins dai these

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Blockchain’s Report Examines Benefits (and Failures) of Today’s Stablecoins

Stablecoins have garnered serious investor attention over the past few weeks. Unlike bitcoin and similar cryptocurrencies, they are digital assets built to lessen price volatility and are often paired against the U.

2018-9-29 01:06	Digital assets
stablecoins percent stablecoin digital report roughly most

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BitGo Gets Approval From State Regulators to Launch Custody Service

BitGo has received the green light from the South Dakota Division of Banking to act as a qualified custodian for digital assets, according to a Business Wire press release.

2018-9-14 20:01	Investing
bitgo custody services assets institutional investors company

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Wyre Adds MakerDAO Stablecoin Pairing for Global Money Transfers

Blockchain money transfer company Wyre has announced a partnership with MakerDAO, creator of the Dai stablecoin, to offer Dai as part of a fiat-crypto trading pair in more than 30 countries across the world including the U.

2018-8-15 00:54	Payments
dai wyre fiat money through bitcoin like

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Stablecoins Gaining Popularity in India to Minimize Central Bank’s Impact

A growing number of cryptocurrency exchanges in India are adding stablecoins such as trueusd (TUSD) and tether (USDT) to their platforms. They are part of the solutions exchanges have come up with in order to minimize the impact of the crypto banking ban imposed by the country’s central bank.

2018-8-13 01:10
impact stablecoins central bank minimize india gaining

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Will IBM's USD Anchor Be Weighed Down By Stablecoin Limitations?

IBM is using the Stellar blockchain to explore stablecoins. Banking and insurance complications remain.

2018-7-18 23:05	cryptocurrencies and tokens
ibm explore stellar stablecoins blockchain remain complications

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Stronghold and IBM Collaborate to Launch FDIC-Insured Stablecoin on Stellar

Stronghold, a cryptocurrency trading platform housed by Stellar, is launching a stablecoin on its parent network’s blockchain in collaboration with IBM. Stronghold USD will be backed with “one-to-one U.

2018-7-18 22:00	Investing
stronghold usd stellar blockchain ibm stablecoin tether

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UK Introduces Bill to Clarify Crypto's Legal Status

The Labour government said the bill will give owners of bitcoin and other digital assets greater legal protection.

Tulip Siddiq Appointed as UK City Minister With Responsibity for Financial Services, Crypto

U.K. Prime Minister Keir Starmer appointed Tulip Siddiq as the City Minister, a role that oversees financial services including crypto.

Taiwan Crypto Advocacy Body Becomes Formally Active With 24 Entities

Taiwan's crypto advocacy body, the Taiwan Virtual Asset Service Provider Association, has been formally established and the founding meeting held with 24 cryptocurrency-related entities.

Binance Could Come Back to India by Paying $2M Fine: Report

The exchange could return as a FIU-registered firm after paying the fine, the report added.

Canadian Province Asks QuadrigaCX Co-Founder to Explain His Wealth in New Order

This is the third test for the Province's new tool to combat money laundering.

U.S. CBDC Is Unlikely in the Near Term: Bank of America

The Federal Reserve continues to pilot a central bank digital currency, but will not issue one without executive branch and Congressional support, the report said.

India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges

India's most controversial crypto tax, the 1% TDS levy deducted at source, should be lowered to 0.01%, according to the findings of a new study.

2022-10-21 17:00

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