STASIS Stablecoin Digest 15.05.2020
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Regulation and monetary policy

Virtual Consensus 2020 Kicks Off With ECB Official Discussing CBDC

Major crypto event, Consensus: Distributed, kicks off virtually, with ECB board member Yves Mersch discussing central bank digital currencies.

Gibraltar Financial Services Minister Talks ‘Staying Ahead’ on DLT

Gibraltar’s minister for digital and financial services spoke to Cointelegraph about regulating market manipulation in the blockchain sector.

IRS Seeks Third-Party Contractors to Help With Taxpayers’ Crypto Calculations

The United States Internal Revenue Service is reportedly soliciting outside contractors to assist with calculations of cryptocurrency users’ transactions.

China's Central Bank Wants to Accelerate Blockchain Adoption

The People's Bank of China (PBoC) wants to speed up the adoption of the cryptos’ underlying technology in the country by implementing its Fintech Development Plan.

Pantera Capital Founder Says Regulators ‘Triggered’ by Grams and Libra

‘The U.S. government will not let random startups’ challenge the dollar, says Dr. Waterhouse.

The ECB is Working on a Retail Digital Currency

Yves Mersch, member of the executive board of the European Central Bank, said that the central bank is working on a "retail central bank digital currency."

CBDCs and stablecoins, not similar as digitized fiat is not a ‘DLT based token’

The central bank digital currency [CBDC] project has been in the talks for quite a long time now. Although Sweden has its e-krona, and the US its Fedcoin, they haven’t made much progress in comparison to the likes of China in the field. According to recent updates, the European Central Bank [ECB] is also accelerating its ‘analytical investigations’ in creating a CBDC for retail customers.

FATF: How Will the Guidelines Affect Canada’s Crypto Industry?

As of June 2020, it will have been one year since the Financial Action Task Force (FATF) published Recommendation 16; it will also be the deadline for when countries should have entered the process of making these guidelines into laws.

Towards an enabling framework for cryptocurrency in India

Analyzing the impact of the Supreme Court’s cryptocurrency judgement on the draft Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019.

Competitors

Tether USDT Surpasses XRP as the 3rd-Largest Cryptocurrency

Stablecoin Tether has just surpassed XRP as the third-largest cryptocurrency and is now the second-largest altcoin behind Ethereum’s Ether (ETH).

Analytics and opinions

Leaders of the Digital Dollar Project Talk Privacy and the Next Century of Money

Former CFTC royalty and current leaders of a US-based think tank to promote a digital dollar talk privacy in new AMA.

Can Central Bank Digital Currencies Protect Individual Privacy?

Top crypto industry and policy experts debated the privacy ramifications of state-issued virtual currencies during the first day of Consensus.

Digitized Europe: The Shift to a Cashless World

Emerging technologies such as blockchain are reshaping the landscape of the traditional financial system in Europe.

Traditional Stock Market Valuation Techniques Reveal Overvalued DeFi Projects

Though cryptocurrencies are difficult to evaluate properly, DeFi protocol revenue allows stock market measures like P/E to be used.

Total Stablecoin Supply Exceeds $10B

The total stablecoin supply has reached an all-time high of $10.4 billion for the first time in history.

New projects, partnerships, and investments

Bitfinex Rolls Out Institutional Custody Service

The Bitfinex cryptocurrency exchange in cooperation with Koine, a London-based digital asset custody provider, has rolled out an institutional-focused crypto custodian service.

Canada's Fastest-Growing Cryptocurrency Trading Platform Launches 3 New Stablecoin Pairs

Newton announced the introduction of 3 new stablecoin pairs to its cryptocurrency trading platform: USDT/USDC, XMR/USDC and BTC/USDC.

Cryptocurrency startup Stably raises more cash, eyes growth amid pandemic

Seattle startup Stably has raised another $1 million to fuel growth of its asset-backed stablecoins, a form of cryptocurrency that is pegged to a fiat currency such as the U.S. dollar and allows prices to remain more stable compared to other options.

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