# Japan recommends against algorithmic backing in stablecoins

# Japan recommends against algorithmic backing in stablecoins

” Japan recommends against algorithmic backing in stablecoins “ After passing its landmark legislation on stablecoins in June, Japanese regulators are considering complementing it by restricting the algorithmic backing of stablecoins. The intention comes as a recommendation from the Financial Service Agency (FSA) and was repeated by the country’s Vice Minister for International Affairs, Tomoko…

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# MakerDAO community votes against CoinShares’ 500M investment proposal

# MakerDAO community votes against CoinShares’ 500M investment proposal

” MakerDAO community votes against CoinShares’ 500M investment proposal “ Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares’ proposal to invest between 100million and 500million worth of the community’s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy.  72.43% of the community votes went…

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# Tokenized government bonds free up liquidity in traditional financial systems

# Tokenized government bonds free up liquidity in traditional financial systems

” Tokenized government bonds free up liquidity in traditional financial systems “ A handful of government-backed financial institutions have been exploring tokenization use cases to revolutionize traditional financial systems. For instance, El Salvador’s Bitcoin Volcanic bond project has been in the works for over a year and aims to raise $1 billion from investors with…

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# Hong Kong believes stablecoin volatility can spillover to traditional finance

# Hong Kong believes stablecoin volatility can spillover to traditional finance

” Hong Kong believes stablecoin volatility can spillover to traditional finance “ The fall of crypto giants this year reignited questions about the stability of cryptocurrencies and their impact on fiat ecosystems. Hong Kong Monetary Authority (HKMA) assessed the situation and found that the instabilities of crypto assets, including asset-backed stablecoins, can potentially spill over…

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# Cardano to launch new algorithmic stablecoin in 2023

# Cardano to launch new algorithmic stablecoin in 2023

” Cardano to launch new algorithmic stablecoin in 2023 “ Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form…

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