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Stablecoins
US Bank Watchdog Says He’s Not Budging on Crypto Distrust
Michael Hsu, acting chief of the Office of the Comptroller of the Currency, is sticking to his guns on keeping most crypto activity out of the U.S. banking system.
Russia Reportedly Exploring Stablecoin Settlements; Poolin Suspends Withdrawals From Wallet Service
Russia is talking to several friendly countries about launching clearing platforms for cross-border settlements in stablecoins, according to a report from Russian news agency Tass. Bitcoin mining pool PoolinWallet is suspending all withdrawals as it tries to preserve assets and stabilize liquidity. Bitcoin may see another meteoric rally once the dormant supply metric has peaked.
Binance, Issuer of Third-Biggest Stablecoin, to Stop Supporting Larger Rival USDC
The action effectively removes the world's second-biggest stablecoin, USD coin, as a tradable asset on Binance's giant platform.
House’s Stablecoin Bill May Face Fatal Delays for 2022 Progress
Internal plans to release a draft by this week were put off as the factions remain too far apart in negotiations, sources say.
Stablecoins and Regulators Need to Get Out of the Way: Market Strategist
Path Trading Partners co-founder & Chief Market Strategist Bob Iaccino discusses the technical pattern in the crypto markets. “Bitcoin is temporarily broken out, I see $26,000 in the short term.” Plus, his take on Tether and why he believes regulators need to “make up their minds and get out of the way.”
BofA: Crypto Buying Momentum Fades as Investors Weigh Bear Market Bounce, Recession Risk
The chance of a more hawkish Federal Reserve and the likelihood of interest rates staying higher for longer hasn't been fully priced into risky assets, the bank said.
California Assembly Passes Crypto Regulation Bill That Requires Bank-Issued Stablecoins
The Digital Financial Assets Law, which is similar to New York’s BitLicense, has been criticized by industry stakeholders.
FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins: Report
The accounting standards body outlined its criteria for crypto assets that would be covered by a forthcoming rule regarding companies and their digital assets.
Morgan Stanley Says Stablecoin Market Cap Is Contracting Again
The bank said it sees little evidence of leverage rebuilding in the decentralized finance (DeFi) ecosystem.
What Are the Consequences of MiCA's Potential Stablecoin Ban
"There's a serious concern ... that stablecoins will have a major role in our economy in the future," Blockchain for Europe Secretary General Robert Kopitsch says, explaining the European Union's legislation that could potentially ban dollar-pegged stablecoins. Plus, he shares possible solutions.
