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EU raises alarm over potential bank threats posed by stablecoins

0xMain
May 25, 2023

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The European Systemic Risk Board has recommended increased disclosures and monitoring as measures to combat the risks associated with the cryptocurrency market. This alarm follows concerns have been raised about the potential impact of a sudden crisis in the crypto sector on the...

Do Kwon allegedly withdraws $2.15m in stablecoins

0xMain
May 19, 2023

2.15m, allegedly, Hacking, Kwon, stablecoins, withdraws

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied After being granted bail by a court in Montenegro, Terra co-founder Do Kwon reportedly removed digital assets worth around 2.8 billion won ($2.15 million), according to several reports from...

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New York proposes legislation to allow stablecoins as bail payment

0xMain
May 11, 2023

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New York State has proposed new legislation that would authorize fiat-collateralized stablecoins as a means of bail payment. The bill, known as New York Assembly Bill 7024, introduced on May 10, would add stablecoins to the list of approved methods of paying bail...

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Investors accumulate DAI and other stablecoins amid BTC selloffs

0xMain
April 24, 2023

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Investors have begun augmenting their holdings in DAI and other top stablecoins amid the prevalent selloffs that have triggered a fall in bitcoin prices (BTC) and other assets. Consequently, the cumulative balance of addresses holding DAI has recently witnessed an astronomical surge. The...

Bank of England to introduce new regulations for stablecoins

0xMain
April 17, 2023

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The Bank of England (BoE) is considering implementing restrictions on stablecoins for payments and developing new regulations to ensure financial stability, according to deputy governor Jon Cunliffe. The Bank of England (BoE) is considering imposing restrictions on stablecoins as a form of payment...

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US draft bill on stablecoins places issuers like Tether under the Federal Reserve oversight

0xMain
April 16, 2023

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A new draft bill that provides a stablecoin framework in the United States will see private issuers such as Circle, the issuer of USDC, and Tether Holding, the firm behind USDT, placed under the Federal Reserve (Fed) oversight. The Fed is the country’s...

USDC and BUSD market caps fall as regulators bash stablecoins

0xMain
February 14, 2023

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Stablecoins such as USD Coin (USDC) and Binance USD (BUSD) see their market capitalization fall following increasing regulatory scrutiny. Market data shows that BUSD’s market cap has fallen by 4.56% from $16.2 billion reported on Feb. 7 down to its current value of...

Nigeria to regulate stablecoins and ICOs

0xMain
January 12, 2023

Hacking, ICOs, Nigeria, regulate, stablecoins

Nigeria highlights its plans for regulating stablecoins, initial coin offerings (ICOs), and the possibility of creating foreign direct investment through cryptocurrencies. The document titled “Nigeria’s payments system vision 2025” complements the country’s previous efforts to regulate the largest crypto market in Africa. In...