stablecoin regulation – Page 2

Hong Kong Regulators Say Proposed Stablecoin Regulation Has Received Positive Stakeholder Feedback

July 19, 2024 by DIGIT

Hong Kong regulators announced the conclusion of a stablecoin regulation consultation phase that saw stakeholders provide 108 submissions. The regulators claimed that the proposed regulatory requirements received positive feedback from stakeholders. Stakeholders Support Introduction of Stablecoin Regulatory Regime On July 17, Hong Kong regulators—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong … Read more

Hong Kong unveils new stablecoin licensing regime

July 17, 2024 by DIGIT

The Hong Kong FSTB and HKMA outline plans for a new regulatory framework for stablecoin issuers following broad public support and stakeholder feedback. Go to Source

US defense bill may be ‘problematic’ for USDC and stablecoins: Analysts

August 1, 2023 by DIGIT

A proposed U.S. national defense bill could subject stablecoins issuers to KYC and AML requirements they would be unable to comply with, said Berenberg analyst Mark Palmer. Go to Source Powered by WPeMatico

Draft US stablecoin bill would ban new algo stablecoins for 2 years

September 21, 2022 by DIGIT

It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price. Go to Source Powered by WPeMatico

UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown

May 16, 2022 by DIGIT

The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the … Read more

SEC Commissioner Expects Tighter Stablecoin Regulation — Yellen Says Stablecoins Not Real Threat to Financial Stability

May 15, 2022 by DIGIT

A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco … Read more

US Lawmakers Push for Urgent Stablecoin Regulation — Fed Warns of Stablecoin Runs, Janet Yellen Cites UST Fiasco

May 11, 2022 by DIGIT

As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently … Read more

Bipartisan bill to give CFTC authority over exchanges and stablecoins

April 29, 2022 by DIGIT

The Digital Commodity Exchange Act would give the commodities regulator the authority to determine rules for cryptocurrency developers and exchanges offering spot trading. Go to Source Powered by WPeMatico

US Senator Says Defi Is the Most Dangerous Part of Crypto – Urges Regulators to Clamp Down Before It’s Too Late

December 16, 2021 by DIGIT

U.S. Senator Elizabeth Warren has called on regulators to clamp down on decentralized finance (defi) and stablecoins “before it’s too late.” She said: “Defi is the most dangerous part of the crypto world … it’s where the scammers, the cheats, and the swindlers mix among the part-time investors and first-time crypto traders.” US Senator Urges … Read more

Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking Regulation

November 18, 2021 by DIGIT

Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers … Read more