STASIS Stablecoin Digest 17.01.2020
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19 January
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Regulation and monetary policy

Crypto Derivatives Exchange Leaves EU for Panama, Expands KYC

Crypto derivatives exchange Deribit is leaving the European Union for Panama to avoid new AML rules while changing its Know Your Customer (KYC) requirements.

French Central Bank Plots Future of Stablecoins Regulation

A senior official at the French Central Bank has said that the onus is on those companies developing stablecoins to ensure that they do so in a responsible manner, as well as reiterating plans for the authority to begin working on its own digital currency

China Prepares for CBDC With Cryptography Law on Encryption Standards

On Jan. 1, China’s law governing cryptographic password management came into power. Essentially, the act aims to set standards for the application of cryptography and the management of passwords, and, therefore, ultimately reduces China’s cyber vulnerabilities on a nationwide scale.

Crypto News From Japan: Jan. 6-10 in Review

This week’s news from Japan included declining trading volume, statements from prominent figures on China’s pending digital currency, a Lisk staking announcement and a blockchain-based letter of credit.

US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes

The House Financial Services Committee has raised concerns over the use of cryptocurrencies to fund domestic terrorism in the United States.

South Korea Is Looking to “Institutionalize” Digital Currency

South Korea is pushing legislation that would bring cryptocurrency and blockchain technology into more mainstream territory.

Coinbase-Backed Crypto Ratings Council Adds eToro, OKCoin

The Coinbase-backed Crypto Ratings Council (CRC), a group of major United States’ cryptocurrency firms seeking regulatory clarity, has welcomed new members.

US Lawmakers Pondering “Crypto-Currency Act of 2020”

U.S. lawmakers are reportedly discussing a new bill entitled “Crypto-Currency Act of 2020” which stated purpose is to: “…clarify which federal agencies regulate digital assets, to require those agencies to notify the public of any federal licences, certifications, or registrations required to create or trade in such assets, and for other purposes.”

New Hampshire’s Second Bill to Accept Bitcoin as Tax Payment Fails

Lawmakers in the New Hampshire state legislature have killed a bill that would have allowed state agencies to accept cryptocurrencies as payment for taxes.

Australia’s central bank explores digital currency

The Reserve Bank of Australia (RBA) has run a proof of concept for a wholesale Central Bank Digital Currency (CBDC). Its experiments were run on a private permissioned version of Ethereum, and the bank plans to extend its exploration this year.

Competitors

PAX Treasury Mints $5.7M Binance USD and $1.1M Paxos Standard

PAX Treasury has just issued more of its stablecoins. Both Binance USD (BUSD) and Paxos Standard (PAX) were minted this morning.

Gemini Rolls Out Crypto Insurance Company

Founded back in 2014, by Cameron and Tyler Winklevoss cryptocurrency exchange Gemini Trust Company, LLC has announced it has launched a captive crypto-focused insurance company called Nakamoto.

Analytics and opinions

Unpacking the Potential of Blockchain and Infrastructure in Africa

The vast swathes of Africa’s fertile lands may ultimately prove a central arena for the ground-up development of innovative digital infrastructure and green energy projects. Recent pivotal moments in African trade, such as the African Continental Free Trade Agreement, are setting the table for an environment conducive to rapid growth, where both energy and financial infrastructure are a primary focus.

Interview With Daniel Marco on the State of Blockchain in Catalonia

Several years ago, a blockchain strategy for Catalonia was revealed to the world, presenting a comprehensive outline of how a government — albeit a local one — can in time switch to being an e-government. Such a model would be backed by various blockchain systems that would accommodate the needs of the citizens for digital identities and voting, and could even be used to follow budgetary spending and recycling.

UAE Can Save Over $3B by Deploying Blockchain, New Research Reveals

The deployment of blockchain technology can save the United Arab Emirates (UAE) more than $3 billion, according to new findings.

Russia’s New Prime Minister Sets Course for Digital Economy

The Prime Minister of the Russian Federation has called on the country to prioritize the development of the digital economy.

4 Reasons why 2020 will be the year of the Stablecoin

4 Reasons why 2020 will be the year of the Stablecoin: Institutions coming, The might rise of DeFi, a new fintech generation embarks, blockchain for Central Banks (CBDCs).

Who Needs Facebook? Crypto Leaders Advance Stablecoin Development

Cryptocurrency and stablecoins offer people, in economies like Argentina, an alternative that can create positive political and economic change. Private enterprises could pay employees in Bitcoin, Libra, or other stablecoin types.

Digital Currency May Change The Monetary System: Former President BOC

The key point highlighted by Li Lihui in the seminar was on the restructuring of financial models and monetary systems by digital currency.

New projects, partnerships, and investments

EURS Now Supports Multi-Blockchain Transfers Thanks to Wanchain

Euro-backed stablecoin EURS issued by tech provider STASIS can now be both bridged from Ethereum to Bitcoin and EOS blockchain networks via the Wanchain technology.

Huobi Exchange Partners With UAE Real Estate Firm to Enable Crypto Payments

Major cryptocurrency exchange Huobi has partnered with a real estate firm in the United Arab Emirates (UAE) to allow real estate investors to pay in cryptocurrencies.

Stablecoin protocol Terra surpasses one million users in less than 9 months

Eight months after launch, Terra, a stablecoin protocol backed by four of the world’s largest crypto exchanges, has surpassed one million user accounts and hit an annual run rate of $2.4 billion.

Industry's 7th Largest ETF to Launch Regulated Stablecoin

A New York-based exchange-traded fund (ETF) WisdomTree, which is currently the industry's seventh-largest ETF provider in the U.S. with an asset portfolio for $ 63.8 billion, plans to launch a regulated stablecoin.

Major Turkish city to introduce its own cryptocurrency for settling everyday transactions

Ugur Ibrahim Altay, the Mayor of Konya, Turkey’s seventh-most-populous city, recently confirmed that the initial steps required to launch a cryptocurrency project called “city coin” had been completed.

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