The International Monetary Fund (IMF) has suggested that digital money could significantly improve financial inclusion and enhance the quality of financial services in the remote and dispersed nations of the Pacific Ocean. In a report published on March 25, the IMF’s senior economic experts examined the potential impact of both private stablecoins and central bank digital…
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The U.S. House Financial Services Committee Chair Rep. Patrick McHenry (R-NC) has suggested upcoming advancements in stablecoin legislation before the election. Speaking at a Coinbase event in Washington on March 20, McHenry noted that despite recent Congressional disruptions, a stablecoin bill is nearing readiness for a House vote, reflecting a bipartisan effort and significant groundwork…
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In a recent development, the Bitfrost Foundation has allied with the Stacks Foundation to explore new opportunities within the Bitcoin ecosystem. This partnership is dedicated to harnessing Bitcoin’s potential by introducing innovative use cases and improving interoperability with assets and protocols based on Bitcoin. Bitfrost and Stacks Foundation Partner to Expand Bitcoin Ecosystem On Thursday,…
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On March 12, the Hong Kong Monetary Authority (HKMA) launched what is known as the stablecoin issuer sandbox arrangement. The HKMA stated that applicants interested in establishing a stablecoin business in Hong Kong should have a sound business plan. The regulator also clarified that admission into the sandbox does not imply endorsement or support for…
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Israel has taken a significant step in the cryptocurrency domain by green-lighting a pilot for BILS, the first stablecoin pegged to the New Israeli Shekel. Bits of Gold and Israeli Authority Launch BILS Stablecoin in Regulatory Sandbox The initiative, spearheaded by the crypto broker Bits of Gold in collaboration with the Israeli Capital Market, Insurance…
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Facing unprecedented market volatility and a significant reduction in reserves, BA Labs has proposed an emergency rate adjustment within the MakerDAO community forum. In an effort to address the immediate challenges posed by the current market conditions, BA Labs, a key member of the MakerDAO Stability Advisory Council, submitted a comprehensive proposal on March 9…
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As the cryptocurrency market swells to a valuation of $2.6 trillion, the leading stablecoin, tether, has achieved a market cap of $100 billion. Beginning from the start of 2024, tether has seen an addition of 8.27 billion tokens to its supply. From $300K to $100 Billion: Tether’s Meteoric Rise Tether (USDT), the top fiat-linked digital…
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February has been an overall notable month for cryptocurrencies and the crypto industry. We’ve seen Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, reach milestones not seen since the crypto winter started. The bull run has seemingly started, as many analysts and investors have announced, and it appears to be following a ‘2-year…
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The market capitalization of Circle’s USDC moved past $28 billion with a gradual increase from Q4 2023 amid wider institutional investments. A new Coinbase report shows a resurgence in the USDC market following the general market upturn and growth in non-U.S markets. The market cap for stablecoins is rising… and USDC is outperforming – up…
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The stablecoin market capitalization has soared 1.95% to hit $138 billion in February recording a fifth consecutive monthly growth since September 2023. A new market report by cryptocurrency analytics firm CCData shows a stablecoin market capitalization and trading volume rise. Stablecoin volume on CEXs rose 4.54% to $1.05tn in January, its highest level since December…
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