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” Canada to examine crypto, stablecoins, and CBDCs in new budget “ The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget. The government’s “2022 Fall Economic Statement” released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as…
” Mastercard adds 7 blockchain startups to its crypto accelerator “ Global payments giant Mastercard continues supporting cryptocurrency and blockchain startups as part of its fintech accelerator, the Mastercard Start Path program. Mastercard has chosen another seven industry startups for its Start Path program in order to promote the adoption of crypto and blockchain technology,…
” Stablecoin issuers Circle and Paxos gain approvals in Singapore “ Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border…
” Chinese central bank exec says digital yuan will offer ‘controllable anonymity’ “ Chinese central bank governor Yi Gang, in a recent speech at Hong Kong Fintech Week, talked about the progress of their national digital currency called the digital yuan. He outlined the progress and the adoption of the national digital currency. During his…
” The UK has a new name for stablecoins and a new bill to regulate crypto “ The United Kingdom moved forward on the Financial Services and Markets Bill on Oct. 25, hardening its vision for Bitcoin (BTC) cryptocurrency and “digital settlement assets” in the country. The Bill, proposed on Oct. 18, suggested would propose…
” MakerDAO community votes to approve custody of $1.6B USDC with Coinbase “ Institutional prime broker platform for crypto assets Coinbase Prime announced on Oct 24th that it had entered into a partnership with MakerDAO — the largest single holder of USDC — to become a custodian of $1.6 billion worth of the stablecoin. The…
” Near Foundation sets up $40M fund to bail out USN investors in case of collapse “ Near Protocol’s in-house stablecoin, USN, recently became undercollateralized, forcing Near Foundation to recommend winding down USN to prevent a situation similar to the Terra (LUNA) and UST collapse. Supporting this move, the Near Foundation opened up a $40…
” Hong Kong unveils completed retail CBDC project that has a CBDC-backed stablecoin “ The Hong Kong Monetary Authority presented its completed Aurum retail central bank digital currency (CBDC) prototype on Oct. 21. The system, developed in conjunction with the Bank for International Settlements (BIS) Innovation Hub, has a unique structure that reflects the intricacies…
” USDC adoption is lagging outside of the United States: Coinbase “ United States-based cryptocurrency exchange Coinbase says the adoption of USD Coin (USDC) has been “more conservative” outside of the U.S., which it believes is a result of international currency conversion fees. In an Oct. 20 statement, the exchange said there is currently three…
” Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments “ Acting United States Federal Deposit Insurance Corporation chairman Martin Gruenberg spoke on Oct. 20 about possible applications of stablecoins and the FDIC’s approach to banks considering engaging in crypto-asset-related activities. Although he saw no evidence of their value, Gruenberg conceded that payment stablecoins…