STASIS Stablecoin Digest 12.04.2020
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12 April
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Regulation and monetary policy

South Korea's Central Bank Starts Pilot Program to Test Digital Won

The Bank of Korea, the country's central bank, has launched a pilot program to test the digital won, its own central bank digital currency (CBDC).

Investigating Digital Assets in Japan Stymied by Nature of Crypto

According to top government officials in Japan, the current national tax system is not yet capable of accepting declarations of digital assets, potentially leading to outflows overseas.

Bitcoin Doesn’t Care as US Debt Reaches an Unfathomable $24 Trillion

The national debt of the United States has crossed $24 trillion for the first time in history as Donald Trump’s presidency adds $4 trillion in four years.

What the Bank of England really said re stablecoins, private sector role in digital currencies

On Tuesday, the Bank of England (BofE) ran a webinar as part of its consultation process about a retail central bank digital currency (CBDC). The Bank has not made a decision about going ahead with a CBDC and recently published a discussion paper. During the webinar, the Bank outlined that the model it favors would be a two-tier CBDC which would enable fintechs and the private sector to play a role in the retail distribution of a CBDC.

France’s CBDC Test Moves Digital Euro One Step Closer to Reality

Lately, it seems that most major national banks are toying with the notion of a national digital currency. France is conducting tests of its own now, and it could pave the way for a digital euro. What will France’s experiments involve, and how will they affect the crypto ecosystem? Here’s what is known so far.

French Financial Regulator Responds to EU’s Crypto Consultation

As the European Commission finished its public consultation on cryptocurrency assets in March, France’s major financial regulator stepped in to express its stance on the matter.

Regulatory Roundup: 10 Countries Actively Regulating Cryptocurrency Despite Global Crisis

Despite the coronavirus pandemic and the resulting financial crisis, at least 10 countries have made announcements regarding cryptocurrency regulation since our last regulatory roundup. They include Japan, Malaysia, Singapore, China, Spain, Germany, India, the Philippines, the U.S., and South Korea.

Toronto Stock Exchange Lists Bitcoin Fund

Toronto Stock Exchange (TSX) has added the Bitcoin Fund closed-end investment fund from 3iQ Asset Manager to its listing.

Gibraltar to Crack Down on Market Manipulation in DLT Sector

Gibraltar’s minister for digital and financial services, Albert Isola, has announced forthcoming regulations to reduce market manipulation among blockchain firms.

Revised Crypto Laws in Japan to be Enforced Starting May 1

New laws for regulating cryptocurrencies in Japan will start to be enforced next month.

The Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), two of the pieces of legislation passed by the Japanese House of Representatives last year to regulate crypto, were scheduled to come into effect starting in April.

Europe should move to cover regulatory 'blind spots' for crypto assets: EU Parliament report

According to a recent study by the European Parliament Research Service, E.U. regulators should expand the scope of both cryptocurrency’s definition and the list of crypto-related entities subject to laws.

Competitors

Tether Says Its Stablecoin Is ‘Totally Backed’ Again

USDT tokens at the moment are absolutely backed by Tether’s reserves, the stablecoin issuer mentioned Thursday.

New projects, partnerships, and investments

Celsius Lists Libra Challenger for 9.9% Potential Interest

Crypto lending platform Celsius Network has listed startup Saga’s SGA stabilized asset, unlocking the potential for token holders to earn interest.

Gemini to Add LINK, DAI and OXT

Cryptocurrency exchange Gemini has announced another addition to its listing with Chainlink (LINK), Dai (DAI), and Orchid (OXT).

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