First US Bank Stablecoin & SEC Talks Fuel Crypto Momentum – Could This Help B...
The good news just seems to keep on coming for crypto. Two US banks – Custodia and Vantage – have teamed up to produce ‘America’s first-ever bank-issued stablecoin’ called Avit, and this first US bank stablecoin could prove to be good news for other coins like Best Wallet Token. One person who won’t be happy […]
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The largest virtual bank in Hong Kong, ZA Bank, broke new ground earlier today by offering exclusive reserve bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory advancements in cryptocurrency. This initiative is part of the territory’s new stablecoin licensing regime, which requires crypto stablecoin operators to deposit reserve assets […]
Noelle Acheson talks about how the latest OCC statement that says banks can support stablecoin reserves is an innovation trigger in disguise.
Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the cryptocurrency project Diem, formerly Libra. The diem USD stablecoin was supposed to be issued by Silvergate Bank but it failed to get regulatory approval. Meta Reportedly Seeking Buyers for Diem Crypto Project Mark Zuckerberg’s Meta, formerly Facebook, is trying to sell its assets in the cryptocurrency project Diem, formerly Libra, Bloomberg reported Tuesday, citing people familiar with the matter. Meta owns about a third of the venture; the rest is owned by other members of the Diem....
Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set Aside However, the regulator promises that at the conclusion of its engagements with the CBN, stakeholders will be informed of the outcome. Meanwhile, in his comments that were made during a Q1 Capital Market Committee....
Thailand’s central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country’s currency law. The Bank of Thailand (BOT) is currently working on a regulatory framework for stablecoins. Thailand Bans Baht-Pegged Stablecoin The Bank of Thailand, the country’s central bank, issued a press release Wednesday declaring a stablecoin called the Thai Baht Digital (THT) illegal. “It has come to the BOT’s attention that a new stablecoin, THT, has been created abroad on the Terra platform. One unit of THT is denominated in and valued....