Law Decoded: New threats to self-custody take shape in the US, Nov. 27-Dec. 4
Tentative clampdowns coming from both the Treasury and the House in the United States lead this week’s Law Decoded. Go to Source Powered by WPeMatico
Libra
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New Draft U.S. Law Will Make It Illegal To Issue Stablecoins Without Federal Reserve Approval
Three U.S. lawmakers have introduced a bill that will force private stablecoin issuers to obtain a banking charter (or license) and approval from the Federal Reserve before they can issue a stablecoin. Instigated by Rep. Rashida Tlaib, with support from Reps. Jesús García and Stephen Lynch – all of them Democrats – the proposed law … Read more
Libra rebrands to Diem, hoping to shake off associations
The project is hoping that a new name will help people forget the mass regulatory panic that drowned out Libra’s initial announcement. Go to Source Powered by WPeMatico
European central bankers predict that the digital euro is at least five years away
Nobody seems to be in a rush to digitize the euro, but that could change given increasing global competition. Go to Source Powered by WPeMatico
Law Decoded: Cents and stability, Nov. 20–27
Stablecoins and CBDCs and their related issues of privacy and surveillance lead this week’s Law Decoded. Go to Source Powered by WPeMatico
Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin
Libra will initially be pegged to just one fiat currency. Go to Source Powered by WPeMatico
Facebook’s Libra hires former OCC prosecutor and central bank expert
The Libra Association has made a key hire in its pursuit of a new cryptocurrency and payments system. Go to Source Powered by WPeMatico
BIS report suggests ‘embedded‘ monitoring tool for stablecoins
After proposing automated ways to monitor global stablecoins like Libra, a new report from BIS argues that a better solution may ultimately be central bank digital currencies. Go to Source Powered by WPeMatico
BIS head says physical cash still important, even if CBDCs take over
BIS Innovation Hub head Benoît Cœuré stressed the importance of maintaining multiple payment options beyond just CBDCs. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
