Blockchain Association Rejects Proposal To Widen Stablecoin Yield Restrictions
The Blockchain Association led a broad industry push this week, asking Senate Banking leaders to resist efforts that would widen a ban on stablecoin yields beyond what Congress wrote into law. Related Reading: Coinbase Escalates Regulatory Fight With Lawsuit Against 3 States According to the association, the letter was signed by more than 125 crypto […]
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A U.S. Senator might unveil a “compromise draft” aimed at settling the crypto-stablecoin yield dispute in the forthcoming CLARITY Act. Another Update On The Crypto Legislation Republican U.S. Senator Thom Tillis (R-N.C.) claimed this Monday he aims to unveil a draft deal this week to break the stalemate over stablecoin yield between banks and crypto […]
In a positive development for the crypto industry, a recent study by White House economists affirmed that stablecoin yield won’t harm community banks, and its prohibition won’t have a meaningful impact on overall lending in the banking system. Related Reading: US Prosecutors Reject Tornado Cash Founder’s Defense Amid Push For October Retrial Stablecoin Yield Is […]
GHO would allow users to borrow the stablecoin while still learning yield on their locked assets on Aave, however the proposal is just seeking feedback at this stage. Decentralized finance (DeFi) giant Aave has unveiled plans to launch an overcollateralized stablecoin called GHO, subject to the community DAO’s approval. The announcement was made by Aave Companies — the centralized entity supporting the Aave protocol on its Twitter page on July 7, stating: "We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO."According to....
As congressional momentum behind the crypto market structure bill known as the CLARITY Act slows, the Blockchain Association has stepped forward with its own proposal aimed at shaping the next phase of digital asset regulation in the United States. On Tuesday, the Washington-based nonprofit — which represents more than 125 crypto companies — released a […]
The move is designed to maintain the stablecoin savings protocol's lucrative yield of approximately 20% per annum. In a tweet published early Friday, Do Kwon, founder of Terraform Labs, the entity developing the Terra Luna (LUNA) and Terra USD (UST) stablecoin ecosystem, announced the injection of 450 million UST ($450 million) into the Anchor protocol's reserves. The proposal passed a vote by the Luna Foundation Guard on Feb.10. Anchor serves as the flagship savings protocol of the Terra ecosystem, offering users of up to 20% interest per annum on their UST deposits, paid for by....