stablecoins | ForkLog

ForkLog 14 13.10.2021

IMF Warns of Contagion Risks to Global Finance From Stablecoins

Vulnerable to hacks, lacking transparency in issuance and distribution of tokens, and with potential outages due to the high volatility of cryptocurrencies, particularly stablecoins, they pose risks to the global economy. The IMF report notes these conclusions.

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ForkLog 16 07.10.2021

Bloomberg finds Chinese commercial paper in Tether’s reserves

The backing of the Tether (USDT) stablecoin includes short-term loans to major Chinese companies and loans to crypto-lending platforms such as Celsius Network, according to a Bloomberg investigation.

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ForkLog 11 07.10.2021

FSB flags gaps in stablecoin regulation

Implementation of the recommendations for global stablecoin regulation remains at an early stage, with gaps and fragmentation persisting. These findings are contained in the G20 Financial Stability Board (FSB) report.

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ForkLog 17 06.10.2021

BIS issues recommendations on regulating stablecoins

The Bank for International Settlements (BIS) published a report with guidance on aligning stablecoin mechanisms with international standards for payment, clearing and settlement systems.

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ForkLog 9 03.10.2021

Media reports say US authorities plan to treat stablecoin issuers as banks

The Biden administration is considering bringing stablecoin issuers into the legal framework. They could be subject to the same requirements used in regulating the banking sector.

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ForkLog 23 01.10.2021

Gold-backed stablecoin set to launch on the Cardano network

A Cardano-focused startup MELD, in partnership with Nigerian mobile operator Tingo Holdings and tokenization services provider Ubuntu Tribe, announced the creation of a gold-backed stablecoin.

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ForkLog 15 30.09.2021

US Senate calls for 100% cash backing of stablecoins

Stablecoin reserves must be 100% in cash and cash equivalents, with issuers becoming banks or money-market funds, she said, Bloomberg.

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ForkLog 24 24.09.2021

PBoC views cryptocurrencies as a threat to the traditional financial system

The rapid growth of cryptocurrencies and stablecoins threatens the traditional financial system, prompting the People's Bank of China (PBoC) to maintain a negative stance toward the class of digital assets. This was stated by Wen Xinxian, director of the regulator's Payments and Settlements Department.

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ForkLog 20 22.09.2021

Gensler calls stablecoins poker chips in a Wild West crypto casino

Chairman Gary Gensler, in a Washington Post interview, drew an analogy with the Wild West regarding consumer protection in the cryptocurrency market.

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ForkLog 9 20.09.2021

First US-based DAO files for token registration and trading

Registered in Wyoming as a DAO, The American CryptoFed filed with the SEC on forms 10 and S-1 to register and trade the algorithmic stablecoin Ducat and the associated governance token Locke.

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ForkLog 9 19.09.2021

Stablecoin market capitalization surpasses $120 billion

The aggregate market capitalization of the stablecoin market has surpassed $120 billion. More than half the supply (~$72 billion) is accounted for by the segment leader—Tether (USDT).

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ForkLog 13 17.09.2021

US Treasury to require stablecoin issuers to ensure their tokens can be freely converted into fiat

Holders of stablecoins should have the ability to freely convert their tokens into the assets backing them. This requirement appears in recommendations to stablecoin issuers being developed by the U.S. Treasury, Bloomberg reports, citing sources.

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