The Bank for International Settlements (BIS) warns that the widespread use of cryptocurrencies and stablecoins as payment may trigger financial instability. The survey shows that 24 central banks are interested in launching…
Category: Stablecoins
JPMorgan Utilizes JPM Coin in Settling Euro-Denominated Payment
JPMorgan Chase & Co., in its Friday, June 23 statement, confirmed the internal use of JPM Coin to settle payments approximating $300 billion. The financial giant indicated that it went live four…
Circle Hires Former CFTC Chair to Help Company Comply With Crypto Regulations
The issuer of the second-largest stablecoin USDC, Circle, has announced former Chair of the Commodity Futures Trading Commission (CFTC) Heath Tarbert as the firm’s new Chief Legal Officer. The move comes a…
Congress Debates Legislation for Crypto Pathway Swapping Security Status to Commodity
The Congress records confirm the introduction of a draft bill by senior House Republicans to deliver a clear pathway for digital tokens to assume commodity status. The bill seeks to deliver a…
What’s Tether (USDT)? The Token With an $83.5 Billion Market Cap
Tether (USDT) is the largest stablecoin by market capitalization. In May 2023, the coin’s market valuation surpassed its previous all-time high of $83.29 billion. It now stands at $83.5 billion. With a…
What’s Hard Pegging in Crypto? – A Complete Beginner’s Guide
In finance, the term “pegging” means adopting a fixed exchange rate between certain currencies to keep them stable. This idea has been implemented in the crypto market, where a stablecoin is pegged…
Hong Kong Granting Retail Users Access to Crypto Trading
A recent declaration by Hong Kong’s securities regulator, virtual asset platforms will become beneficial and accessible to retail investors. Virtual Assets Service Providers Extending Crypto Trading to Retail Investors An announcement by…