STABLECOIN DIGEST 07.08.2020
Regulation and monetary policy
Industry Calls on US Regulator to Open Floodgates on Banks’ Crypto Capabilities
A number of crypto businesses and non-profits have written to the main banking regulator in the U.S. asking for banks to have more authorization to deal with crypto.
Unite to Succeed: Swiss Stablecoin Association Hopes to Break the Ice
The new World Stablecoin Association hopes to create a united front for the sector to tackle regulatory concerns and drive collaboration.
Russian Government Bans Anonymous Wallet Deposits
Lawmakers contend that the Russian government’s intent is to curb illicit financial activity.
China’s Digital Yuan to Reportedly Target Dominance of Alibaba and Tencent
China’s central bank may be planning to use its digital currency to curb the dominance of Alibaba and Tencent in the digital payments sector.
Russia’s Biggest Bank Considers Launching Its Own Stablecoin
Shortly after Russia’s president, Vladimir Putin, signed the country’s recent cryptocurrency law, the country’s largest bank voiced its considerations.
Deregulating Crypto Could Spark More Speculation Says Japan’s FSA
“Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation,” says Japan’s new top financial regulator.
China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan
State-owned commercial banks in China are reportedly testing a wallet for the country’s forthcoming digital yuan.
Russia’s Largest Bank to Issue Own Stablecoin This Year
https://ihodl.com/topnews/2020-08-07/russias-largest-bank-issue-own-stablecoin-year/
Sberbank, Russia’s largest state-owned bank, is working to launch the Sbercoin, its own stablecoin, by 2020.
Putin Signs Law Giving Cryptocurrency Legal Status in Russia
https://news.bitcoin.com/putin-signs-law-cryptocurrency-legal-russia/
Russia’s bill to regulate cryptocurrencies has been signed into law by President Vladimir Putin. The new law gives legal status to cryptocurrency but prohibits its use as a means of payment.
Regulation of Cryptocurrencies like Bitcoin in Europe
https://www.euroweeklynews.com/2020/08/03/regulation-of-cryptocurrencies-like-bitcoin-in-europe/
The primary purpose is to describe the facts for cryptocurrency and the regulation of cryptocurrency like bitcoin in Europe, which is such the most prominent place to live. Europe is making a lot of progress in every walk of life, and the same is the case with cryptocurrencies.
Analytics and opinions
Decentralized Energy Is Key to a DeFi Future
Decentralized finance should include decentralized energy as it uses DApps and blockchain and has the same logic, says Lition.
As DeFi Booms, Yearn Finance (YFI) Shifts 100% of Token Supply to Users
The DeFi sector recently achieved a record $4.23 billion in total value locked, so why did Yearn Finance distribute its full token supply to its users?
Crypto, Meet Fiat. You Two Should Get A Coffee Sometime
A handful of studies suggest merchants would be happy to accept digital currencies due to the lower transaction fees involved. But volatility is a major concern, and judging by another wild week in crypto it will continue to be so.
‘High Probability’ Bitcoin Rises as USD Sinks to 2008 Levels, Says CEO
The U.S. dollar is at risk of falling below the lower end of a 12-year trendline as some analysts argue that this may be a bullish turning point for Bitcoin’s price.
Twitter Hack Shows That Crypto Is Easier to Investigate Than Fiat, Say Industry Law Experts
A panel of compliance experts from the crypto industry agreed that law enforcement and institutional finance have been hearing more positive narratives about crypto.
On Solid Ground: Stablecoins Thriving Amid Financial Uncertainty
https://cointelegraph.com/news/on-solid-ground-stablecoins-thriving-amid-financial-uncertainty
The state of stablecoins: Demand for stablecoins continues to grow amid financial uncertainty.
New projects, partnerships, and investments
State-Run Bank in Switzerland to Launch Crypto Services
Swiss cantonal bank Basler Kantonalbank becomes the first bank in Switzerland to announce its crypto plans.
Goldman Sachs Wants to Launch Its Own Cryptocurrency Stablecoin
https://cryptobriefing.com/goldman-sachs-wants-launch-cryptocurrency-stablecoin/
Financial giant Goldman Sachs is reportedly working on a fiat-pegged digital token.
BCB Group Teams With Circle to Offer EU Institutions USDC Stablecoin Settlement
BCB Group — a firm that provides financial services for cryptocurrency firms in the U.K. and European Union — has inked a deal to integrate with Circle’s platform to make the USDC stablecoin available to institutional clients.
