The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option. Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International…
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The Nigerian Central Bank has denied claims in a widely circulating text message that it plans to redenominate the naira starting in January 2024. According to the bank, the authors of the message had seemingly “modified text eked from an old policy” by a previous governor in 2007. Press Release: No Plans To Redenominate The…
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The change in leadership at Tether reflects its commitment to actively exploring new business operations, the company said. Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since…
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Stablecoins occupy a unique space within the realm of finance, straddling the worlds of traditional and cryptocurrency finance. These digital assets aim to achieve price stability by tethering their market value to external references such as fiat money. Stablecoins blend the characteristics of cryptocurrencies with the stability of traditional assets like the U.S. dollar or…
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The crypto industry needs to prepare for increasing government pressure as it ramps up its challenge to the State monopoly over money, says ShapeShift CEO Erik Voorhees. Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started,…
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With the fall of P2P exchanges like Paxful and LocalBitcoins, the question of how to buy or sell crypto without using CEXs is a pertinent one. The failure of FTX triggered a notable growth of self-custody in 2022, with numerous cryptocurrency investors transitioning from centralized exchanges (CEX) to hardware or software wallets. The rising popularity…
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The new feature will allow users to purchase cryptocurrencies using various payment methods, such as debit or credit cards, PayPal, bank transfers, and instant ACH. Cryptocurrency wallet and decentralized application (Dapp) provider MetaMask has announced the launch of a new feature that will allow users to purchase crypto with fiat currency directly from its Portfolio…
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Binance.US said it temporarily disabled the One Common Billing System and BUSD stablecoin pairs after halting Apple Pay and Google Pay deposits. Amid the ongoing uncertainty around the global banking turmoil, Binance’s United States-based arm Binance.US is halting some services. According to the Binance.US status dashboard, on March 31, the U.S. crypto exchange disabled Binance USD…
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Cointelegraph analyst and writer Marcel Pechman explains how the monetary supply affects cryptocurrencies. The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on…
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The acute cash shortage in Nigeria was due to the central bank’s decision to replace older bank notes with bigger denominations amid rising inflation. Nearly 18 months after launching its in-house central bank digital currency (CBDC), eNaira, Nigeria witnessed its massive adoption as national fiat reverses face severe shortages. The acute cash shortage in Nigeria…
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