Key Takeaways Hong Kong is taking significant steps toward regulating stablecoins with the introduction of the Stablecoins Bill to its Legislative Council. The Stablecoins Bill sets out requirements for stablecoin issuers, outlines conditions for offering stablecoins, and implements marketing restrictions…
Key Takeaways Brazil’s Central Bank (Banco Central do Brasil, BCB) has put forward a regulatory proposal to limit the transfer of stablecoins, such as Tether’s USDt, to self-custodial wallets. Announced on November 29, 2024, the public can provide feedback on…
Key Takeaways Schuman Financial, a newly established cryptocurrency firm founded by former Binance executives Martin Bruncko and Eduardo Morrison, has introduced a euro-backed stablecoin named EURØP. The launch comes as Europe prepares for the full enforcement of the Markets in…
Key Takeaways Tether has minted an additional $3 billion in USDT stablecoins. As per blockchain data from Arkham Intelligence shows that $2 billion was issued on the Ethereum blockchain, while $1 billion was minted on Tron, with both transactions executed…
Key Takeaways Singapore Gulf Bank has announced plans to raise at least $50 million in an upcoming funding round as part of its strategy to expand its digital finance operations. As per media reports, proceeds from the funding will be…
In simple layman’s terms, stablecoins are crypto assets pegged to the U.S. dollar. This is done to ensure price stabilization in the crypto market. However, recent events due to UST and USDD crashes have created a new fear, and the…
Key Takeaways The Central Bank of the United Arab Emirates (CBUAE) has given in-principle approval for an AED stablecoin, marking a significant step toward incorporating digital currencies into the nation’s financial ecosystem. The stablecoin pegged to the UAE dirham, it…
Key Takeaways The South Korean Ministry of Economy and Finance is evaluating new measures to regulate cross-border transactions involving stablecoins and other virtual assets. The ministry highlighted that while stablecoins are currently used mainly within the cryptocurrency ecosystem, they could…
Key Takeaways The Canadian Securities Administrators (CSA) have extended the deadline for cryptocurrency trading platforms to comply with updated stablecoin regulations. Initially set for October 31, 2024, the new deadline is now December 31, 2024. The extension was granted due…
Key Takeaways On August 21, USDT stablecoin issuer Tether, announced a new venture to launch a stablecoin pegged to the United Arab Emirates Dirham (AED). This initiative is being undertaken in partnership with Phoenix Group PLC, an Abu Dhabi Securities…
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