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John Williams – President and CEO of the Federal Reserve Bank of New York – believes the institution should closely monitor the transformations of the cryptocurrency industry and, if needed,…
The catastrophic event sparked renewed effort from the global regulators to address key inefficiencies in the stablecoin market that many consider could potentially jeopardize financial stability. The UK government, for…
The U.K. government has published a paper exploring ways to mitigate the financial stability issues associated with digital payment assets. The development comes after the collapse of UST, previously the...
China has used its Economic Daily media outlet to signal that further regulatory action may be taken toward stablecoins in the wake of the collapse of Terra’s algorithmic stablecoin.
South Korean authorities have launched a new investigation on Terraform Labs, according to reports from JBTC. Korean Authorities Summon Team The Seoul Southern District’s joint financial and securities crime investigation...
This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by…
One of the largest money transfer services in the world – MoneyGram – plans to enable users to send stablecoins and convert them to fiat currency. The company will collaborate…
Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s…
Vitalik recently shared his thoughts on the future of algorithmic stablecoins in the wake of TerraUSD’s failure. While he believes that skepticism and scrutiny of existing protocols is “highly welcome,”…
Following the company launching a fiat-pegged tied to the value of the Mexican peso, Tether, the stablecoin issuer has announced the firm has launched tether tokens on the Polygon network.…