STABLECOIN DIGEST 29.05.2020
Regulation and monetary policy
Libra Exec Hirings Suggest Commitment to Anti-Crypto Regulations
Experts believe that Libra’s hiring spree signifies a willingness to comply with existing legal and financial guidelines.
RBI Says No Restrictions on Banks Providing Accounts to Crypto Traders
RBI’s recent response to an information request shows that Indian banks are not prohibited from dealing with cryptocurrency business.
Bank of Lithuania Envisions Future Cross-Industry Blockchain Platform
The Bank of Lithuania has revealed ambitious long-term plans to develop its blockchain platform for use beyond the financial services sector.
Digital Yuan Has No Launch Date, Bank of China Stresses Amid Rumors of Looming Rollout
People’s Bank of China clarified that there is still “no timetable” on a formal digital yuan launch, despite the ongoing pilot project.
Cameron Winklevoss on Crypto Regulation: “Free-for-Alls Don’t Work”
https://cointelegraph.com/news/cameron-winklevoss-on-crypto-regulation-free-for-alls-dont-work?utm_source=Telegram&utm_medium=social
Known for their regulation-friendly outlook within the crypto industry, Gemini exchange founders Tyler and Cameron Winklevoss hold a hybrid approach to privacy and government rules.
Ripple CEO Says US Regulators Must Embrace Crypto or Fall Behind China
Brad Garlinghouse, the CEO of Ripple, has taken to Twitter urging U.S. regulators to get on board with cryptocurrencies, or risk losing global financial dominance to China.
Antigua’s Crypto Regulation Bill Passes Lower Parliament
Antigua and Barbuda’s House of Representatives passed a cryptocurrency regulation bill on May 27. With this bill, they have taken steps towards becoming digital asset-friendly destinations in the Caribbean.
IMF Official Says Public-Private CBDC Offers Best of Both Worlds
IMF expert says a synthetic CBDC is gaining popularity and will drive more innovation.
IMF deputy pushes for synthetic central bank digital currency
https://decrypt.co/30440/imf-deputy-pushes-for-synthetic-central-bank-digital-currency
Synthetic central bank digital currencies are neither public nor private, but both. Tommaso Mancini-Griffoli recently explained why governments should try them.
Digital Dollar Project Releases White Paper Laying Out Groundwork for US CBDC
A U.S. think tank working towards a digitized dollar has released a white paper detailing inaugural aims and use cases for a central bank digital currency.
Competitors
Tether Unseats XRP As Third-Largest Crypto, Dwarfing Its Volume 25:1
Tether (USDT) has overtaken XRP to become the third largest cryptocurrency by market capitalization, as Ripple fails to gain adoption amongst retail investors.
Do Zero-Reserve Loans Make Tether Better Off Backed by Bitfinex Stock?
With the Federal Reserve now allowing US banks to issue loans with zero reserve, is Tether better off backed by Bitfinex shares than dollars backed by nothing?
Bitfinex Is Constantly Printing More Tether, None Of It Has Ever Been Burned
A report indicates that no Ethereum-based Tethers have ever been burned, though new ones are constantly being printed.
Analytics and opinions
Tyler Winklevoss: Stablecoin Race to Begin When Wall St Embraces DeFi
Tyler Winklevoss believes that stablecoins will not truly emerge until Wall Street embraces the DeFi sector.
Africa Is Experiencing a Crypto Renaissance
https://cointelegraph.com/news/africa-is-experiencing-a-crypto-renaissance
Crypto adoption is making significant advances in Africa, with crypto ownership, trade volume, and regulation all moving toward greater adoption.
Stablecoins Could Transfer Value Across Blockchains, Says Vitalik Buterin
Ethereum co-founder Vitalik Buterin thinks that the stablecoin industry is missing a valuable opportunity to improve interoperability between different blockchains.
Central Bank Digital Currencies Are Not a Replacement for Bitcoin: Grayscale
https://cointelegraph.com/news/central-bank-digital-currencies-are-not-a-replacement-for-bitcoin-grayscale?utm_source=Telegram&utm_medium=social
Leading Bitcoin fund manager Grayscale Investments explains in its recent report that viewing CBDC as a Bitcoin replacement is incorrect.
Analysis: Stablecoin exchange activity since Black Thursday
Since May 12, or ‘Black Thursday,’ the number of stablecoins held on centralized exchanges in our sample has increased by 130%
New projects, partnerships, and investments
Turkish Stablecoin Receives Spot Listing on BTSE Exchange
The Turkish stablecoin BiLira has received a spot listing on BTSE, offering a new on-ramp for Turkish investors to access crypto markets.
Bank Frick adds first stablecoin to its range of tradable and custodial crypto assets with USDC
Europe’s leading blockchain bank is adding a stablecoin to its range of tradable and custodial crypto currencies for the first time.
Visa Approves New DeFi-Enabled Crypto Card in EU and UK
Swiss DeFi startup Eidoo partners with principal member of Visa Europe to issue a new Visa crypto debit card.
Indian Crypto Exchange CoinDCX Secures Additional $2.5M Investment\7utgr
The $2.5 million investment in India’s largest crypto exchange comes from Polychain Capital and Coinbase Ventures.
Delta Crypto Exchange to Expand Into Indian Market With New Funding
Crypto derivatives exchange Delta Exchange has announced a new injection of funding from blockchain investor CoinFund, aiming to provide strategic resources for both parties in their focus to expand in India.
Blockchain Development Firm Raises Nearly $28M in Funding
Blockchain technology firm LayerX raised nearly $28 million to further blockchain adoption.
