{"id":34211,"date":"2020-12-30T13:57:41","date_gmt":"2020-12-30T11:57:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34211"},"modified":"2025-08-28T17:37:09","modified_gmt":"2025-08-28T14:37:09","slug":"gmo-internet-wins-new-york-license-to-issue-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/gmo-internet-wins-new-york-license-to-issue-stablecoins\/","title":{"rendered":"GMO Internet wins New York license to issue stablecoins"},"content":{"rendered":"<p>The Japanese internet company GMO has received a license from the New York State Department of Financial Services (NYDFS) to issue stablecoins pegged to the Japanese yen and the US dollar.<!--more--><\/p>\n<p>GMO became the 27th recipient of a BitLicense, according to the <a href=\"https:\/\/www.dfs.ny.gov\/reports_and_publications\/press_releases\/pr202012291\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">\u043f\u0440\u0435\u0441\u0441-\u0440\u0435\u043b\u0438\u0437\u0435<\/a> NYDFS.<\/p>\n<blockquote>\n<p>&#8220;We are taking the first steps by issuing the first regulated stablecoin pegged to the Japanese yen,&#8221; said Ken Nakamura, president and CEO of GMO-Z Trust.<\/p>\n<\/blockquote>\n<p>The license allows the Tokyo-based company to issue, administer and redeem stablecoins within the state&#8217;s jurisdiction.<\/p>\n<blockquote>\n<p>&#8220;New York continues to lead in financial innovation as stablecoins gain significance and point to new directions in the money of the future,&#8221; commented Linda Lacewell, Superintendent of NYDFS, on GMO&#8217;s license.<\/p>\n<\/blockquote>\n<blockquote class=\"wp-embedded-content\" data-secret=\"HJw8gKlzTM\">\n<p>New York&#8217;s financial regulator proposed relaxing the terms for issuing a BitLicense<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201c\u0424\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0439 \u0440\u0435\u0433\u0443\u043b\u044f\u0442\u043e\u0440 \u041d\u044c\u044e-\u0419\u043e\u0440\u043a\u0430 \u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0438\u043b \u0441\u043c\u044f\u0433\u0447\u0438\u0442\u044c \u0443\u0441\u043b\u043e\u0432\u0438\u044f \u0432\u044b\u0434\u0430\u0447\u0438 BitLicense\u201d \u2014 ForkLog\" src=\"https:\/\/forklog.com\/news\/finansovyj-regulyator-nyu-jorka-predlozhil-smyagchit-usloviya-vydachi-bitlicense\/embed#?secret=pfPaNUkiSs#?secret=HJw8gKlzTM\" data-secret=\"HJw8gKlzTM\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">The issuance of yet another BitLicense occurred amid regulators&#8217; mixed attitudes toward digital currencies in general and stablecoins in particular.<\/span><\/p>\n<p>In March this year, the US Congress proposed including a digital dollar in a package of economic stimulus measures. 24 December the President&#8217;s Working Group on Financial Markets presented <a href=\"https:\/\/forklog.com\/en\/news\/u-s-presidents-working-group-on-financial-markets-outlines-recommendations-for-stablecoin-regulation\">\u0440\u0435\u043a\u043e\u043c\u0435\u043d\u0434\u0430\u0446\u0438\u0438 \u043f\u043e \u0440\u0435\u0433\u0443\u043b\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044e \u0441\u0442\u0435\u0439\u0431\u043b\u043a\u043e\u0438\u043d\u043e\u0432<\/a>.<\/p>\n<p>In October, the Financial Stability Board of the G20 published the final version <a href=\"https:\/\/forklog.com\/en\/news\/g20-financial-regulator-refines-recommendations-for-regulating-stablecoins\">\u0440\u0435\u043a\u043e\u043c\u0435\u043d\u0434\u0430\u0446\u0438\u0439 \u043f\u043e \u0440\u0435\u0433\u0443\u043b\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044e<\/a>, supervision and control of stablecoins. The FSB believes that global stablecoins have the potential to improve payment efficiency and promote financial inclusion.<\/p>\n<p>In November, Fabio Panetta, a member of the Executive Board of the European Central Bank (ECB), stated that large-company stablecoins <a href=\"https:\/\/forklog.com\/en\/news\/ecb-warns-big-tech-stablecoins-threaten-privacy-and-innovation\">\u0443\u0433\u0440\u043e\u0436\u0430\u044e\u0442 \u043f\u0440\u0438\u0432\u0430\u0442\u043d\u043e\u0441\u0442\u0438 \u0438 \u0438\u043d\u043d\u043e\u0432\u0430\u0446\u0438\u044f\u043c<\/a>.<\/p>\n<p>In August 2020, GMO Internet and SBI Holdings announced plans to mine bitcoin at what was billed to become the world&#8217;s largest mining farm in the U.S. state of Texas.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese internet company GMO has received a license from the New York State Department of Financial Services (NYDFS) to issue stablecoins pegged to the Japanese yen and the US dollar.<\/p>\n","protected":false},"author":1,"featured_media":34212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[747,937,748,807],"class_list":["post-34211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitlicense","tag-gmo-internet","tag-new-york","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34211"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34211\/revisions"}],"predecessor-version":[{"id":34213,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34211\/revisions\/34213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/34212"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}