STABLECOIN DIGEST 04.12.2020
Regulation and monetary policy
Canada could launch CBDC sooner than expected, central bank exec says
COVID-19 could force the Bank of Canada to launch a CBDC sooner than previously expected.
CySEC issues first cryptocurrency regulations
https://cyprus-mail.com/2020/12/02/cysec-issues-first-cryptocurrency-regulations/
The Cyprus Securities and Exchange Commission (CySEC) last week issued its first regulations regarding cryptocurrency.
US lawmakers seek to make stablecoins illegal without federal approval
A new bill introduced to Congress seeks to control the entire stablecoin industry by requiring all related activities to obtain federal approval first
South Korea to delay new tax regime on cryptocurrencies until 2022
The postponement follows a successful lobbying campaign by local crypto advocates.
Russian central bank opposes ruble-pegged stablecoins
Russia wants to follow China’s approach of banning private stablecoins pegged to its national fiat currency.
PayPal CEO calls on crypto industry to work hand in hand with regulators
Compliance is key if you want to play the game, says PayPal CEO Dan Schulman.
Beyond BitMEX: CFTC sets a new record for lawsuits in crypto this year
Alongside other actions, the CFTC was pleased with its seven enforcement actions in the crypto market.
Crypto.com secures an Australian Financial Service License
The mandatory license will allow Crypto.com to issue crypto debit cards in Australia.
Competitors
USDC issuer Centre lands Wall Street veteran David Puth as CEO
https://cointelegraph.com/news/usdc-issuer-centre-lands-wall-street-veteran-david-puth-as-ceo?utm_source=Telegram&utm_medium=social
The company behind USDC has added a new face that could help further institutional adoption.
Analytics and opinions
European central bankers predict that the digital euro is at least five years away
Nobody seems to be in a rush to digitize the euro, but that could change given increasing global competition.
Can DeFi indices finally make crypto-based passive investing worthwhile?
The concept of a DeFi ETF sounds promising, but it’s not without pitfalls.
DeFi and Eth2 are whole new convos for regulators, says SEC’s Hester Peirce
United States SEC Commissioner Hester Peirce wants to focus on new guidance for DeFi and future Ethereum projects.
Institutional investors won’t save crypto, but they will help it grow
Institutional players are coming to the crypto ecosystem, but how will they impact the industry? Will they boost it or collapse it?
Though centralized, a digital yuan is too big for China to surveil, says Cypherium CEO
Despite ambitions of overtaking the dollar, China’s central bank will have a hard time monitoring all the transactions involved in a CBDC, though commercial banks might lend a hand.
New projects, partnerships, and investments
Visa will facilitate USDC payments, thanks to fresh partnership
This could significantly lower the barrier to entry for stablecoin use.
Digitex announces launch of new stablecoin, DUSD
https://cointelegraph.com/press-releases/digitex-announces-launch-of-new-stablecoin-dusd
Digitex Ltd, a commission-free crypto futures exchange, has announced the launch of a new stablecoin DUSD
Million-dollar startup taps Algorand to fight climate change
Climatetrade will launch its marketplace for carbon offsetting on the Algorand blockchain.
Yearn teams up with Akropolis to boost institutional outreach
Akropolis says calling it a merger “is a bit of a misnomer.”
TrustToken Bridges TUSD and Other Stablecoins to Syscoin
https://www.coinspeaker.com/trusttoken-bridges-tusd-and-other-stablecoins-to-syscoin/
Tomorrow’s fintech depends on high-quality stablecoins. The continued success of value-pegged assets will depend on their usability, security, and compliance. For these reasons, Syscoin Foundation is proud to announce a partnership with TrustToken.
Yearn’s merger with SushiSwap will be the most comprehensive to date
YFI token holders will vote on some aspects of the integration.
DeFi protocol 1inch closes $12M funding round led by Pantera Capital
The funding will be used to expand 1inch’s presence in Asia and build new products.
Kraken pledges $150,000 to Ethereum devs in latest Gitcoin Grants Round
This is a first for the traditionally Bitcoin-centric exchange.
Polkadot launches DeFi alliance with Chainlink and will let 1000 nodes bloom
Polkadot is making moves to expand its ecosystem, announcing a new DeFi Alliance alongside a new support program for validators.
