BIS Paper Says There’s Potential to Embed Regulation Into Stablecoin Systems
The need to regulate global stablecoins like Libra doesn't mean authorities can't embrace innovation, according to according to a BIS working paper.
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On Thursday, Uniswap Labs, the company behind the popular decentralized finance (defi) protocol, Uniswap, launched a tool called the Swap Widget. Essentially, the widget allows developers and decentralized app (dapp) operators to embed the Uniswap decentralized exchange (dex) app with “one line of code.”
Software Engineers Can Now Embed Uniswap Swapping Functionality Into Web3 Dapps
One of the largest dex applications in terms of trade volume, Uniswap, announced the launch of a new widget tool that gives dapp operators the ability to integrate Uniswap into their....
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 which saw UST losing its U.S. dollar peg and LUNA plunging to near zero. A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about cryptocurrency....
On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero “demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market.” Tether Axes $30 Billion Worth of Commercial Paper Holdings, Firm Leverages US T-Bills Instead The company behind the largest stablecoin by market capitalization, Tether, has revealed....
A new UN working paper argues that the bitcoin community has a tendency towards “techno-colonial solutionism” and “techno-libertarian evangelism” in proposing the digital currency as a solution to issues in the developing world. Authored by independent researcher and consultant Brett Scott for the United Nations Research Institute for Social Development, the paper provides a primer on the basics of bitcoin and discusses the technology’s potential applications for remittances, cooperative structures and micro-insurance systems. However, it also flags potential “points of concern and....
The United States government appears keen to tame the rapidly growing stablecoin market, according to reports. The Biden administration is reportedly considering a new legal framework for stablecoin issuers that would put them in the same category as banks, raising questions about the future of crypto regulation in the country.Citing people familiar with the matter, The Wall Street Journal reported Friday that the administration is looking to convince Congress to create a new “special-purpose charter” for stablecoin issuers and other companies that fall within the same category. Although....