STABLECOIN DIGEST 30.10.2020
Regulation and monetary policy
Pros and Cons of the EU Crypto-Assets Regulation
https://www.interactivecrypto.com/pros-and-cons-of-the-eu-crypto-assets-regulation
Anything that works correctly doesn’t need any regulations. However, that has not been the case with digital currencies. They have come with several concerns. Governments are now prioritizing consumer protection.
Kenya’s central bank exploring CBDCs due to ‘mushrooming’ of private cryptos
The Governor of the Central Bank of Kenya told reporters the institution is “already feeling left out.”
Bahamas strikes first with Sand Dollar amid US–China CBDC faceoff
Fed Chairman Powell sees no urgency to develop a CBDC, but eventually, the world’s top central bank must act, say experts.
Central bank digital currencies have the power to upend global finance
Central bank digital currencies will fundamentally change our conceptions of money and its uses.
Malaysian Securities Commission issues revised digital asset guidelines
Regulation for initial exchange offerings and digital asset custodians comes into force today.
Central Bank Regulations Leave Little Room for Private Stablecoins
https://cryptobriefing.com/central-bank-regulations-leave-little-room-private-stablecoins/
Rules for bank-issued digital currencies could lead to restrictions for existing stablecoins.
Proposed China law to ban stablecoins
https://asiatimes.com/2020/10/proposed-china-law-to-ban-stablecoins/
A proposed Chinese law would ban stablecoins — yuan-pegged tokens — except for the central bank’s digital currency, popularly known as the digital yuan.
Analytics and opinions
BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director
“We will continue to explore the pros and cons of CBDC,” said Tom Mutton.
Bitcoin can’t help bank the unbanked claims Mastercard CEO
The CEO of Mastercard believes Bitcoin is too volatile and opaque to drive financial inclusion, however, CBDCs are a different story.
High DeFi yields could threaten ETH 2.0 staking participation: ConsenSys
The latest Q3 DeFi report from ConsenSys expresses concern about DeFi’s threat to ETH 2.0 staking
Digital yuan will combat US ‘dollarization’ says former PBoC governor
“We need to prevent dollarization — this is one of the major designing points of the Chinese DCEP,” said Zhou Xiaochuan.
DeFi needs more fixed-rate lending protocols: Messari researcher
Researcher argues that fixed rate lending and borrowing would bring DeFi closer to traditional finance
Will they or won’t they? Central banks eye each other’s digital currency moves
Canada’s central bank recognizes that CBDCs are a necessarily international issue.
New projects, partnerships, and investments
STASIS partners with YouHolder: Clients can now earn 12% APY with the largest Euro-backed stablecoin
https://medium.com/stasis-blog/stasis-partners-with-youholder-clients-can-now-earn-12-apy-with-the-largest-euro-backed-e549ccb0923e
After months of high client demand, YouHodler is pleased to officially announce the addition of the first Euro-backed stablecoin to the platform.
YouHolder Adds Support for STASIS in Savings Accounts
https://ihodl.com/topnews/2020-10-30/youholder-adds-support-stasis-savings-accounts/
A crypto-backed loan service provider YouHolder has listed EURS, the first euro-pegged stablecoin.
ConsenSys collaborates with Banque de France digital euro partner
Blockchain firm ConsenSys is becoming increasingly active in the central bank digital currency space.
Digital yuan will work with WeChat and Alipay, says bank exec
Details regarding the digital yuan’s characteristics are taking shape.
CertiK releases blockchain with real-time smart contract auditing
The security company wants to build a formally secure blockchain for DeFi
British fintech firm opening physical crypto bank branches in India
The new venture will reportedly include 34 “physical branches and operations” in northern India.
East meets West as eight top projects join global DeFi alliance
Eight of the western world’s top DeFi projects have joined an industry consortium that is supported by a Shanghai science and technology institution.
LibertyX launches Bitcoin-to-cash sales at ATMs in United States
LibertyX wants to provide instant Bitcoin cashouts as the token hits new 2020 highs.
Singapore’s largest bank reportedly launching crypto trading and custody
Another global bank believes that digital assets are the future of the global economy.
JPMorgan’s stablecoin finally sees commercial light of day
JPMorgan Chase now recognizes blockchain’s profitability and has created a new business dedicated to digital currency and blockchain work.
PayPal’s baby steps into crypto aren’t dampening the hype for adoption
While crypto firms have been trying to build the crypto equivalent of PayPal, the company itself will soon enter the industry.
Winklevoss’ Gemini exchange to count crypto taxes in real time
TaxBit’s tool will allow Gemini customers to increase their tax refund.
Binance exchange partner Simplex to roll out Tether to euro offramp
Over 200 firms in Simplex’s network can enable euro cashouts from Tether.
