Crypto News

What is the STABLE Act? The STABLE Act, or the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, is a proposed bill in the United States that aims to regulate stablecoins, or digital assets that are pegged to a stable asset like the US dollar. This bill was introduced by Representatives Rashida Tlaib, Jesus "Chuy" Garcia, and Stephen Lynch in December 2020. Why is it controversial? The STABLE Act has faced criticism from the crypto community and industry experts for its potential negative impact on innovation and development in the crypto space. Many argue that this bill would stifle competition and hinder the growth of stablecoin projects, ultimately harming consumers and the overall economy. Trump-linked stablecoin ventures under scrutiny As the STABLE Act gains traction, there has been increasing scrutiny of stablecoin ventures with ties to former President Donald Trump. This includes the controversial stablecoin p...

Stablecoin Adoption in Brazil: Finding Solutions to Illicit Use Cryptocurrency has been gaining traction in Brazil, with the country's market showing promising growth in terms of adoption and usage. However, concerns have been raised about the potential use of stablecoins for illicit purposes, such as money laundering and terrorist financing. The Concerns Stablecoins, such as Tether (USDT) and USD Coin (USDC), are cryptocurrencies that are pegged to a stable asset, usually a fiat currency like the US dollar. This makes them less volatile compared to other cryptocurrencies, making them a popular choice for users in Brazil. However, the stability and anonymity of stablecoins have raised concerns about their potential use for illegal activities. This has led to calls for stricter regulations and monitoring of stablecoin transactions. The Solution Tom Duff Gordon, VP at Coinbase, believes that there are ways to address the concerns about s...

Stablecoin Usage in Brazil: Challenges and Solutions The Rise of Stablecoins in Brazil Cryptocurrencies have gained significant popularity in Brazil, with many individuals and businesses using them for various purposes. One type of cryptocurrency that has been gaining traction in Brazil is stablecoins. These digital assets are designed to maintain a stable value, usually pegged to a fiat currency like the US dollar. They are attractive to users as they offer stability and reduce the volatility commonly associated with other cryptocurrencies. The Concerns about Stablecoin Usage in Brazil While stablecoins have been gaining popularity in Brazil, there have been concerns about their potential use for illicit purposes. This has raised questions about whether the Brazilian government should regulate stablecoins to prevent them from being used for illicit activities such as money laundering and terrorist financing. Tom Duff Gordon's Perspecti...

What is a Stablecoin? A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, usually through pegging its value to a fiat currency or a basket of assets. This stability makes it an attractive option for investors and traders who are looking for a less volatile alternative to traditional cryptocurrencies. The Approval of Figure Markets' Interest-Bearing Stablecoin Figure Markets, a financial services company focused on blockchain technology, has recently made headlines by becoming the first company to receive approval for an interest-bearing stablecoin in the United States. The stablecoin, called "Figure USD," is backed by the US dollar and will offer an annual percentage yield (APY) of 8.5%. This makes Figure USD an attractive option for investors looking to earn interest on their stablecoin holdings. The Potential Impact on the Crypto Market The approval of Figure USD has sparked excitement an...

Introducing HKD Coin: The New Era of Stablecoins With the growing popularity and adoption of cryptocurrencies, many companies and financial institutions are exploring the potential of stablecoins - digital assets that are pegged to a fiat currency, such as the US dollar or the Euro. And now, Hong Kong is joining the race with the launch of its own stablecoin, backed by one of the biggest banks in the region - Standard Chartered. The Partnership: Standard Chartered x Animoca Brands x HKT Standard Chartered, a leading international banking group, has joined forces with Animoca Brands, a blockchain and gaming company, and HKT, a major telecommunications company in Hong Kong, to launch the HKD Coin. The stablecoin will be pegged to the Hong Kong dollar, making it the first of its kind in the region. Benefits of a Hong Kong Dollar-Backed Stablecoin The launch of HKD Coin has many potential benefits for the Hong Kong market. One of the main ...

Introduction to Stablecoins and Hong Kong's Role Stablecoin: A New Era of Digital Currency Stablecoins have been making waves in the world of digital currency, offering a new era of stability and security. These cryptocurrencies are backed by traditional assets such as fiat currencies or precious metals, making them less volatile than other cryptocurrencies like Bitcoin or Ethereum. And now, Hong Kong is poised to make its mark in the stablecoin market. Joint Venture for Hong Kong Dollar-Backed Stablecoin Collaboration between Standard Chartered, Animoca Brands, and HKT In a major move for the Hong Kong market, Standard Chartered Plc has announced a joint venture with Animoca Brands and HKT. The venture aims to apply for a license from the Hong Kong Monetary Authority to issue a Hong Kong dollar-backed stablecoin. This collaboration brings together the expertise of a leading bank, a blockchain gaming company, and a telecommunications giant...