STABLECOIN DIGEST 20.12.2020
Regulation and monetary policy
Italian Banca Generali to debut crypto services next year
Banca Generali will introduce crypto to its customers in 2021 following a partnership with an Italian custody service provider.
France Approves New Cryptocurrency Measures to Fight Anonymous Transactions
https://news.bitcoin.com/france-new-cryptocurrency-measures-fight-anonymous-transactions/
The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing.
Malta’s ‘blockchain island’ strategy falters as banks refuse to play ball
Malta’s plan to become a”‘blockchain island” appears to have stalled, with few retail banks indicating a willingness to work with crypto firms.
Germany legalizes digitized securities
Europe’s largest economy is looking to pave the way for securities trading on the blockchain.
Two thirds of Estonian crypto businesses lose their licenses
Estonia has withdrawn permits from one thousand crypto companies this year.
Crypto regulation now more institution-friendly, METACO head explains
Future crypto guidelines remain uncertain, however.
Hong Kong Grants First License to Cryptocurrency Trading Platform
https://news.bitcoin.com/hong-kong-first-license-cryptocurrency-trading-platform/
Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin.
How the Incoming Administration Can Fix Crypto Regulation
https://www.coindesk.com/biden-administration-crypto-regulation
As 2020 comes to a close, it is a good time to review the regulatory landscape for crypto assets in the U.S. and provide suggestions to the Joe Biden administration that will be arriving in January 2021. Our advice would be to emphasize clarity, consistency and more collaboration across regulatory agencies.
Competitors
‘BAM!’ Tether celebrates as USDT market cap passes $20 billion
A record high for the largest stablecoin comes as Bitcoin cools around its own highest-ever levels.
TUSD Becomes the Third Major Stablecoin on Tron
https://cryptomode.com/tusd-becomes-the-third-major-stablecoin-on-tron/
Slowly but surely, stablecoins continue to make their way to different blockchains. In Tron’s case, the addition of TUSD is a significant development. It is the third prominent stablecoin on this blockchain, indicating this ecosystem has some merit.
Analytics and opinions
Chinese residents make 20K transactions in digital yuan trial event
The numbers come following the Suzhou municipal government giving away roughly $3 million in a digital yuan lottery for residents.
Global Stablecoins Could Eventually Become Reserve Currencies: IMF Paper
https://www.coindesk.com/global-stablecoins-could-eventually-become-reserve-currencies-imf-paper
Private stablecoins such as libra (now rebranded as diem) could emerge as international reserve currencies, according to an International Monetary Fund (IMF) report.
China has no plan to replace USD with digital yuan, former PBoC head says
A former PBoC official says that his country has taken a cautious approach with the digital yuan.
How did the Turkish crypto ecosystem survive 2020?
Turkey started off strong in crypto and blockchain in 2020 — then the pandemic happened.
UK investment manager shifts allocation to Bitcoin from gold in ‘defensive move’
The institutional flood into BTC continues.
China’s crypto landscape: How CBDCs drove blockchain adoption in 2020
As a developing tech power, China is one of the fastest countries in adopting blockchain technology.
Terra Protocol (LUNA) rallies 66% after DeFi and stablecoin launch
Terra Protocol’s successful DeFi and stablecoin launch were followed by a 66% rally that brought LUNA’s market cap to $200 million.
New projects, partnerships, and investments
Binance Visa cards are now shipping to European customers
Ether payments are now available on the Binance Visa card, which is now shipping to customers in the EEA region.
Stellar expands reach in Latin America with $3M investment in Settle Network
The fourth investment of the year from the Stellar Development Foundation has gone into Settle Network, a Latin American stablecoin and payments provider.
Zytara and Prime Trust unveil stablecoin
https://www.finextra.com/pressarticle/85493/zytara-and-prime-trust-unveil-stablecoin
FinTech company Zytara has announced the upcoming launch of the Zytara dollar (ZUSD) stablecoin in partnership with its wholly-owned subsidiary Zytara Capital LLC (Zytara Capital) and Prime Trust, the leading Universal Asset Platform that enables payments, custody and settlement of alternative assets.
Binance supports Vietnamese Dong backed stablecoin, BVND
https://ambcrypto.com/binance-supports-vietnamese-dong-backed-stablecoin-bvnd/
Binance has announced support for Binance Vietnamese Dong [BVND], a BEP2 stablecoin pegged to the Vietnamese Dong [VND]. BVND will be available for direct purchase and redemption at a 1BVND = 1 VND rate.
