STASIS Stablecoin Digest 15.03.2020
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Regulation and monetary policy

US Congressman Introduces Crypto-Currency Act of 2020

A United States congressman is the latest working to clarify and determine which U.S. regulator is responsible for which digital assets.

Proving That Tether Manipulated Bitcoin 2017 Bull Run Won’t Be Easy

The iFinex–Tether market manipulation lawsuit continues. Last week, Judge Katherine Failla of the Southern District of New York selected Roche Cyrulnik Freedman as interim lead plaintiff counsel, and four civil actions were consolidated into a single class action: Leibowitz v. iFinex Inc.

Belarus Wants Authorization to Seize Crypto from Criminals

Amid countries increasingly auctioning Bitcoin (BTC) seized in law enforcement actions, some jurisdictions are fighting for authorization to confiscate crypto.

Indonesia’s Commodities Regulator Approves Asia-Pacific Crypto Exchange

Indonesia’s Commodity Futures Trading Regulatory Agency, also known as Bappebti, has given the green light to crypto exchange provider Zipmex.

Exclusive: A Major French Bank Is Blocking Customers From Using Coinbase

Initial findings show French international banking group BNP Paribas is blocking customers from sending funds to major crypto exchange platform Coinbase.

Japan's Financial Regulator Launches Global Blockchain Governance Initiative

Japan’s financial regulator announced the launch of its global Blockchain Governance Initiative Network (BGIN) on March 10. The BGIN intends to foster the “sustainable development of the blockchain community."

Australian Tax Watchdog Contacting Crypto Holders to ‘Remind Them’ to Pay Up

In the coming weeks, hundreds of thousands of Australian crypto investors are set to receive a reminder of their tax obligations from the country’s authorities.

Russia Updates Its Laws for Cryptocurrencies

The volume of cryptocurrency flows on darknet markets — which are involved in illegal drug and arms trafficking, remittance and transfer of illicit funds — have doubled for the first time in four years, a new report says. Accordingly, Russia has been updating its bribery and Anti-Money Laundering laws regarding cryptocurrencies to aid its burgeoning digital economy.

French Regulators Propose a European Regulatory Sandbox for Security Tokens

European businesses may soon have a new jurisdiction in which to experiment with security tokens while regulators evaluate the pros and cons.

Some Indian Banks Are Still ‘Arbitrarily’ Refusing to Process Crypto Transactions

Earlier this month, India’s Supreme Court delivered its verdict in a landmark case that promised to usher in a bullish era for cryptocurrency in the country.

Rhode Island Blockchain Act Seeks Regulatory Clarity for Crypto, Representative Place Explains

Although Rhode Island’s recent Blockchain Act does not explicitly reference cryptocurrencies, the bill aims to provide regulatory clarity for them.


Tether Looks to Catch Up in DeFi With Aave Integration

Tether (USDT) is now available on Aave, a non-custodial lending platform formerly known as ETHLend. The top stablecoin by market capitalization appears to be signaling its move into Ethereum (ETH) decentralized finance (DeFi).

Circle Launches New APIs to Boost USDC Adoption

US-based crypto company Circle has just announced it has launched a series of APIs that allow companies to access USDC with the aim of boosting the stablecoin's adoption.

Binance Dollar Exceeds $100 Million Cap ‒ 400% Growth

On March 10, the Binance Dollar’s (BUSD) market cap crossed the $100 million mark. This is the first time that the stable coin, created in partnership between Binance and Paxos Trust company, has achieved this milestone.

MakerDAO Could Flood the Market with 2.4 million ETHs

DeFi Project MakerDAO could experience an emergency shutdown after Ethereum loses 30%.

Analytics and opinions

BitPanda CEO Eric Demuth Says Bitcoin Is Gold 2.0 for Millenials

The crypto ecosystem tends to see regulations as "the big bad wolf." In this narrative, government and regulators set rules that slow down innovation and damage growth for the crypto industry. That might have been the case a few years ago, but not anymore, according to BitPanda CEO Eric Demuth: "Depending on the regulation, it can be quite a good thing now that the industry and many companies have reached a size that matters."

Marc Taverner Speaks on His New Role as European Blockchain Director

The International Association for Trusted Blockchain Applications (INATBA), a distributed ledger technology initiative established by the European Commission (EC) last year, has appointed former Bitfury Group global ambassador Marc Taverner as the first INATBA executive director on March 5.

Central Banks Are Exploring Blockchain — but for Their Own Reasons

Despite the interest shown in decentralized ledger technology by central banks, cryptocurrencies continue to be mistrusted by the traditional financial system.

Central Bank Officials: DLT Can Improve the Global Financial System

On March 7, three monetary and cryptocurrency experts discussed the challenges and prospects of central bank-issued digital currencies at the Massachusetts Institute of Technology (MIT) Bitcoin Expo 2020.

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