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PayPal’s Stablecoin Is No Libra. Why the Timing Feels Right
11.8.2023
Like Facebook's ill-fated Libra project, PYUSD is getting some pushback in Washington D.C. But its prospects seem more promising, says Michael J. Casey
PayPal’s Stablecoin Unlikely to See Significant Adoption in the Near Term: Bank of America
11.8.2023
Investors are likely indifferent to which stablecoins they hold as long as they are perceived as safe and accessible on the largest trading platforms, the report said
Circle CEO Urges On-Shore Stablecoin Development for the Future of Finance
10.8.2023
Resharing Circle's video ad tweet, Jeremy Allaire, the CEO of Circle, emphasized the critical need to accelerate the progress of the digital dollar and Stablecoin development. His message highlights that this advancement is essential for maintaining the strength of the US dollar.
Initially posted...
Circle preps $1B war chest to deal with market threats from PayPal and others
10.8.2023
Circle’s USDC stablecoin has dropped from $45 billion in circulation at the start of 2023 to just $26 billion as the summer winds down
Stablecoins could be key to upholding US dollar's global reserve status: Report
10.8.2023
In an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoin legislation is crucial to re-dollarizing the world
Are Reports Linking the 11th Largest BTC Wallet to Tether a Myth? Cryptoquant Analysis Reveals Discrepancies
10.8.2023
In the wake of recent claims that Tether, the company behind leading stablecoin USDT, holds the 11th largest bitcoin (BTC) wallet, Cryptoquant, a blockchain intelligence firm, has expressed skepticism. Citing inconsistencies in onchain data, Cryptoquant has questioned the authenticity of...
Bank of England Forms Digital Pound Advisory Group to Shape CBDC Design
10.8.2023
Announced on the Bank's Website on Wednesday, the Bank of England (BoE) has established a digital pound advisory group named the CBDC Academic Advisory Group (AAG) and is actively seeking specialists to join this group as the nation enters the CBDC design phase. ...
Read More: Bank of England Forms...
Congresswoman Maxine Waters Criticizes PayPal's Entry into Dollar-Pegged Stablecoin Arena Without Federal Regulatory Approval
10.8.2023
On Wednesday, Democratic Congresswoman Maxine Waters (D-CA) criticized PayPal's launch of its new dollar-backed stablecoin, PYUSD, as she believed the company should have waited for federal regulatory approval before proceeding.
"I am deeply concerned that PayPal has chosen to launch...
Fed Launches New Crypto Oversight Program, Issues Dollar Stablecoin Guidelines
10.8.2023
The Federal Reserve has established a new supervisory program to increase oversight of crypto activities by the banks it regulates. The U.S. central bank also released additional guidelines for banks to follow before engaging in the issuance, possession, or transactions involving U.S. dollar...
The Protocol: Coinbase Launches Own Blockchain as Sleuths Scour PayPal's Stablecoin Software
10.8.2023
In this week's issue, we cover Coinbase's launch of "Base," a layer-2 network atop Ethereum, along with the crypto community's reaction to PayPal's new stablecoin and the brouhaha over Matter Labs' use of Polygon-crafted open-source software. The Protocol is CoinDesk's weekly newsletter devoted...
US House Financial Services Committee leadership takes opposing sides on the PayPal stablecoin
9.8.2023
Rep. Maxine Waters said she was “deeply concerned” about the PYUSD without a proper regulatory framework in place, while Rep. Patrick McHenry said it "hold[s] promise"
PayPal’s Stablecoin Is a Watershed Moment for Finance
9.8.2023
Until now, most of crypto’s big innovations have been for crypto-natives. PayPal’s stablecoin is different, says Austin Campbell, the former head of Portfolio Management at Paxos
Congresswoman Maxine Waters Says She’s ‘Deeply Concerned’ About PayPal’s New Stablecoin
9.8.2023
The top Democrat on the House Financial Service Committee criticized PayPal’s plans in a statement on Wednesday
PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits
9.8.2023
High U.S. Treasury interest rates are a powerful short-term motivator. Everything else is theory
Binance drops majority of USD Coin reserves — Latest USDC news
9.8.2023
This week’s episode of The Market Report explores the reasons why Binance let go of a majority of its USDC reserves and what it replaced them with
Today in Crypto: Bitstamp 'Permanently' Suspends Trading for Several Altcoins for US Users, MuesliSwap Will Refund Money Lost Due to Slippage 'Misunderstanding', Unstoppable Domains Launches Blue Premium Membership
9.8.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Bitstamp 'Permanently' Suspends Trading for Several Altcoins for US Users, MuesliSwap Will Refund Money...
Stablecoin Market Cap To Hit Nearly $3 Trillion By 2028: Bernstein Report
9.8.2023
Private wealth management company Bernstein has projected stablecoins to grow by 2,140% in the next five years with huge developments pouring into the sector.
According to the report, the stablecoin market stands at $125 billion with USD Tether (USDT) and USD Circle (USDC) as leaders but...
Circle Stablecoin CEO Unveils International Dominance: 70% of USDC Adoption Outside US
9.8.2023
In an August 8th tweet, Jeremy Allaire, the CEO of Circle, mentioned that approximately 70% of USD Coin (USDC) adoption originates from countries beyond the United States.
Contrary to the perception of being centered in the US, he noted that much of the adoption of USDC comes from international...
Bank of England Remains Focused on Systemic Stablecoin Regime
9.8.2023
The UK central bank has released a consultation response on systemic stablecoins, suggesting that it remains committed to a systemic stablecoin regime.
On Tuesday, the Bank of England (BoE) released the "Payments Regulation and the Systemic Perimeter" framework, which agreed on co-supervision...
House Financial Services Committee Advances Clarity for Payment Stablecoins Act
9.8.2023
On July 27, 2023, The U.S. House Financial Services Committee advanced a stablecoin-focused bill for the first time. The Clarity for Payment Stablecoins Act of 2023 would establish a federal regulatory framework for stablecoins with the U.S. Federal Reserve playing a pivotal role. The bill would...