STASIS Stablecoin Digest 10.01.2020
STASIS
Main page Digest, Startups, Crypto Market, Stablecoins, Cryptocurrency
Hot topic
Jan. 12, 2020

This article is brought to you by STASIS, a company that aims to promote transparency by providing daily statements from account providers along with weekly verifications and quarterly audits by a top 5 global accounting firm.

Regulation and monetary policy

SEC on ‘Unfounded Fishing Expedition’ — Telegram Lawyers Tell Judge

Lawyers representing encrypted messaging app Telegram have requested a United States court throw out regulator demands for its bank accounts.

Qatar Prohibits Cryptocurrency-related Services

Qatar's watchdog the Qatar Financial Centre (QFC) Regulatory Authority has issued a statement, according to which any crypto-related services are illegal from now on, International Investment has learned.

Law Enforcement Requests to Kraken Hit All-Time-High, Up 49% in 2019

Law enforcement requests to cryptocurrency exchange Kraken hit their highest ever volume in 2019, rising 49% to 710 as compared with 475 the previous year.

Turkey's Watchdog to Regulate Crypto Markets

The Capital Markets Board of Turkey (CMB), the country's financial regulator, plans to regulate crypto markets, local news outlet Hurriyet has reported quoting several sources.

Christine Lagarde: ECB's Digital Currency Will not Replace Private Initiatives

Christine Lagarde, president of the European Central Bank, has confirmed the regulator is considering the possibility of launching its own digital currency.

Three Cryptocurrency Regulation Themes For 2020 – And The Flawed Premises Behind Them

The blockchain and crypto community is ringing in the new year to a level of legislative and regulatory attention that would have been hard to predict a year ago.

ESMA to Push for Crypto Regulations in EU Markets

ESMA will together with NCAs, also require EU market participants to acknowledge the risks that may stem from digitalization by ensuring business continuity and the use of adequate and up-to-date technology, as well as adequate protection against cyberthreats, and through proper data protection and data quality management.

Competitors

Kraken Adds Support for USDC Stablecoin

Cryptocurrency exchange Kraken has announced it would add support for the second-biggest stablecoin in the world USD Coin (USDC) starting January 8.

Analytics and opinions

What Happens If the US Loses the Blockchain War?

While Mark Zuckerberg was fighting with the United States Congress over Facebook’s Libra, China took another step forward in the global technology race. President Xi Jinping called on his country to “seize the opportunity” in order to become a leader in blockchain technology as it tries to do likewise with artificial intelligence.

Though 'Intriguing,' Crypto Won't Dethrone Dollar, Says IMF Economist

Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath.

Blockchain and Crypto: Will Security Issues Finally Be Dealt With in 2020?

The past few years have been a watershed moment for security in crypto. As the asset class has gained popularity, more and more security breaches have been highlighted and more institutions targeted.

EU’s Fifth Anti-Money Laundering Directive: what the crypto-asset sector needs to know

The EU's Fifth Anti-Money Laundering Directive (“5AMLD”) will subject certain participants in the crypto-asset sector to regulation for anti-money laundering (AML) and counter-terrorism financing (CTF) compliance purposes. While it most crypto-asset companies will not be ready to comply by 10 January 2020 (the date EU member states are required to bring it into effect), there are lots of tools available that they should consider utilizing now so that when they do implement the directive, the process is far quicker and easier.

New projects, partnerships, and investments

People’s Bank of China ‘Progressing Smoothly’ With Digital Yuan

China’s central bank, the People’s Bank of China (PBoC), reports that it is “progressing smoothly” with its development of a government-backed digital currency.

Crypto Lending Solutions: A Review of 3 Blockchain Lending Platforms

The proliferation of crypto lending platforms is the latest crypto solution bridging the gap with the traditional financial industry. These platforms offer institutional and retail investors the opportunity to access banking services previously only available in the traditional financial sector.

According to BitInfoCharts, 97% of wallets have less than 1 BTC, so the majority of the platforms have focused on retail investors.

Tax Compliance Firm TaxBit Raises $5M to Improve Crypto Tax Reporting

TaxBit, a crypto-oriented tax compliance firm, has raised $5 million in a seed round that saw participation from the Winklevoss twins’ family office, Winklevoss Capital.

$17M Funding Round in Startup to Bring Blockchain Tech Into ETFs

As a Bitcoin exchange-traded fund (ETF) continue to elude U.S. markets, one startup has secured $17 million that seems earmarked to bring blockchain tech to ETFs.

Read also:
Please describe the error
Close