STABLECOIN DIGEST 09.01.2021
Regulation and monetary policy
New York authorizes first Yen stablecoin operator in the US
Japanese firm GMO will now be able to offer Yen- and dollar-pegged stablecoins to the public in New York.
Ukraine taps Stellar to develop digital asset infrastructure, including CBDC framework
Stellar’s development arm will work with the Ukrainian government on several digital asset initiatives.
OCC greenlights national banks to run nodes and stablecoin networks
The latest from the Treasury’s most crypto-forward office says that national banks don’t have to fear stablecoin nodes.
Kyrgyzstan’s central bank opens up crypto draft laws to public discussion
The central bank of The Kyrgyz Republic has drafted regulations that recognize cryptocurrency exchanges in the country for the first time.
UK crypto community reacts as FCA derivatives ban goes into effect
The ban placed by financial regulators in the United Kingdom on the sale of crypto derivatives to retail traders is now in force.
Following Brexit, the UK asks crypto industry about rules for cross-border stablecoins
In addition to trying to define stablecoins, the U.K. is looking to establish how close it wants its crypto laws to be to other countries.
Analytics and opinions
Bitcoin, stablecoins and DeFi: 2020’s top-performing crypto assets
https://cointelegraph.com/news/bitcoin-stablecoins-and-defi-2020-s-top-performing-crypto-assets?utm_source=Telegram&utm_medium=social
2020 may have been filled with challenges, but Bitcoin, stablecoins and DeFi protocols are the clear top performing crypto assets for the year.
Selected Shenzhen residents to get lottery ‘red envelopes’ with digital yuan
Winners of the city’s lottery will have 10 days to spend their gifted digital currency at any of 10,000 supported merchants.
Stablecoins And The Future Of Gaming
Last week, the President’s Working Group on Financial Markets released a statement providing an initial assessment of key regulatory considerations for participants in “significant stablecoin arrangements with a U.S. nexus that are primarily used for retail payments.”
SatoshiPay to Become First User of German Bank’s Euro Stablecoin
https://www.coindesk.com/satoshipay-to-become-first-user-of-german-banks-euro-stablecoin
Cryptocurrency payments provider SatoshiPay has inked a deal with German bank Bankhaus von der Heydt to become the first user of its recently revealed euro-backed stablecoin (EURB).
Crypto market cap breaks $1 trillion following jaw-dropping rally
The combined value of all cryptocurrencies just hit $1 trillion as Bitcoin and Ether continue to surge.
What Are Stablecoins?
https://www.coindesk.com/what-are-stablecoins
A “stablecoin” is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price.
Here’s why stablecoins like USDC going ‘legal’ is bullish for DeFi
https://cryptoslate.com/heres-why-stablecoins-like-usdc-going-legal-is-bullish-for-defi/
A landmark announcement for USDC. Unending social euphoria. Observers calling it bullish for DeFi.
New projects, partnerships, and investments
Italian Banking Association launches experimental digital euro project
The Italian Banking Association, ABI, is conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank digital currency.
The EURST Stablecoin Set the Path That Major Central Banks Now Want to Follow
From Asia to Europe, major central banks all around the world are expected to announce their own digital currencies soon. This is vindication that stablecoins like EURST are on the right path forward, and they can serve to show how national economies should reinvent themselves following the current crisis.
Curve Finance wants to promote euro stablecoins in DeFi
A new pool allows European and Asian users to avoid U.S. dollar exposure.
