Stablecoins
Biden Administration to Congress: Put Stablecoins Under Federal Supervision – Or We Will
If U.S. lawmakers don’t act, regulators have the authority to take their own measures, according to the long-awaited report from the President’s Working Group on Financial Markets.
![LEGISLATE, PLEASE: “The current regulatory framework isn’t set up to address some of the new kinds of risks that [stablecoins] could pose,” says Treasury Under Secretary Nellie Liang. (Andrew Harrer/Bloomberg via Getty Images)](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fstaging%2Fa8c4cb4f621ed865d50afefce21ce3dbbf009d39-3000x1999.jpg%3Fauto%3Dformat&w=1080&q=75)
Biden Administration to Congress: Put Stablecoins Under Federal Supervision or We Will
In a highly anticipated report released Monday, a group of U.S. regulators from the President’s Working Group on Financial Markets urged lawmakers to subject stablecoin issuers to the same strict federal oversight as banks. The group also identified three main risks of stablecoins.
Three Arrows Capital Backs $10M Raise for DeFi on Cardano
Major DeFi investors piled into the Ardana project, including some that have never invested in Cardano before.
US Regulators Exploring How Banks Could Hold Crypto Assets
According to Federal Deposit Insurance Corporation (FDIC) Chairwoman Jelena McWilliams, a group of U.S. regulators are reportedly exploring how banks could hold and deal with digital assets. CoinDesk’s Nikhilesh De discusses the latest on global policy and regulation. Plus, an update on the Biden Administration’s stablecoin report.
VanEck Launching Bitcoin ETF ‘XBTF’
CoinDesk’s Nikhilesh De discusses what regulatory events he’s continuing to watch as wealth manager VanEck’s bitcoin futures ETF is expected to launch Tuesday under the stock ticker XBTF. This is the third bitcoin futures ETF to be approved by the SEC following ProShares and Valkyrie Investments.
Fractional-Algorithmic Stablecoin Protocol Frax’s Governance Token Surges 80% on Supply Squeeze
About three-quarters of all circulating FXS supply is locked away for an average of 1.08 years, one analyst said.
US Treasury to Say SEC Can Regulate Stablecoins: Report
SEC Chairman Gary Gensler wants more authority before Congress works out how best to regulate the cryptocurrencies.
Mastercard Partners With Bakkt for Crypto Payments
Mastercard and digital asset platform Bakkt are teaming up to allow merchants and banks to build cryptocurrency into their offerings. The two companies plan to also shake up the way consumers can collect loyalty rewards. "The Hash" hosts discuss the development as a possible big step forward in bringing stablecoins and other cryptocurrencies to a wider market.
What CBDCs Mean for the Future of DeFi and Stablecoins
Central bank-issued digital currencies are an existential threat to permissionless stablecoins and finance.
