The result of developments in both crypto technology and regulation, Circle’s new USDC API provides a bridge between crypto and traditional finance. Circle, the company behind the second most popular stablecoin USD Coin, has rolled out a new API that will allow for the seamless transfer of USDC to USD via automated clearinghouse (ACH) systems. …
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“What happens when the world and the U.S. dollar is in a continual state of quantitative easing?” Can BTC find a new and unexpected role for itself? Reserve currency is money held by central banks or treasuries usually for international transactions. Argentina is not going to be able to purchase a Boeing 737 MAX passenger…
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The United States Federal Reserve needs its own digital currency to protect against a possible overnight proliferation of stablecoin technology, says Fed chairman Jerome Powell. Cryptocurrency stablecoins could become systemically important overnight, says United States Federal Reserve Chairman Jerome Powell, and that’s why the Fed is determined to get its own central bank digital currency…
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Winklevoss’ Gemini Trust will act as a sub-custodian for the new Arxnovum Bitcoin ETF in Canada. Canadian investment fund manager Arxnovum Investments has filed a prospectus for a new Bitcoin (BTC) exchange-traded fund, or ETF, in Canada. On Monday, the company filed a stack of preliminary documents for the Arxnovum Bitcoin ETF with Canada’s Ontario…
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The downside of Bitcoin is limited in the short term as BTC attempts to recover from a steep pullback. Throughout the past few days, the sell-side pressure from all sides has intensified. Bitcoin miners have sold their holdings at a scale unseen for over three years. On top of this, the inflow of whale-associated BTC…
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The crypto world does not have a major euro-pegged stablecoin yet. A number of popular U.S. dollar-pegged stablecoins exist on the crypto market. Stablecoins based on the euro also exist, but are notably less liquid, according to Zahreddine Touag, co-founder and head of trading at Paris-based market making firm Woorton. “There’s not any euro stablecoin…
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Allaire also sees political moderation as the best scenario for continued crypto development. One of the leaders in U.S. crypto is optimistic that the space will grow under the administration of Joe Biden governing from the middle. Jeremy Allaire, CEO of Circle, took to CNBC’s Squawk Box on Monday to argue that the Biden administration…
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Mainstream news agencies are beginning to provide positive coverage of Bitcoin, acknowledging its proper significance as an asset as the US dollar nosedives. The U.S. Dollar Index fell sharply today, extending a 10 month losing streak that places it at the lowest point since April 2018. International news agency Reuters marked the occasion with a…
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Stablecoins and CBDCs and their related issues of privacy and surveillance lead this week’s Law Decoded. Editor’s note As many of you were certainly following in real time, a bull market gave way to a bloodbath yesterday, which happened to be Thanksgiving in the United States. Personally, I’ve never thought that Bitcoin’s (BTC) price was…
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Libra will initially be pegged to just one fiat currency. The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report. Following more than a year of scrutiny from global financial regulators, Libra will launch in the form of a U.S. dollar-backed digital currency,…
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