PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.
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Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined
The DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past week, just weeks after the Curve Finance exploit.
Tether discontinues Bitcoin stablecoin, citing lack of usage
The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year.
Singapore central bank releases regulatory framework for stablecoins
The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore.
Crypto highlighted as ‘novel and complex’ risk to US banks: FDIC report
The FDIC warns that uncertainty around crypto's legal status, the likelihood of fraud and contagion present key risks to United States banks.
Circle preps $1B war chest to deal with market threats from PayPal and others
Circle’s USDC stablecoin has dropped from $45 billion in circulation at the start of 2023 to just $26 billion as the summer winds down.
Stablecoins could be key to upholding US dollar’s global reserve status: WSJ op-ed
In an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoin legislation is crucial to redollarizing the world.
US House Financial Services Committee leadership takes opposing sides on the PayPal stablecoin
Rep. Maxine Waters said she was “deeply concerned” about the PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it "hold[s] promise".
Japanese startup to use stablecoins and CBDC to link Asian countries
Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia.
Bank of England will get more power in regulating stablecoins
The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority.
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