STASIS Stablecoin Digest 03.07.2020
Main page Digest, Startups, Crypto Market, Regulations, Cryptocurrency
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July 5, 2020

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Regulation and monetary policy

When Big Ben Rings: UK FCA’s Stance on Crypto Seen as Harsh but Fair

Most believe that the FCA’s latest efforts to monitor the U.K.’s crypto ecosystem are a step in the right direction.

Switzerland Won't Change Tax Law for Blockchain

The Swiss government has declined to change tax law for blockchain and distributed ledger products.

Chances of Indian Crypto Ban Low Compared to 2019, Says Crypto Veteran

The CEO of CoinSwitch shares his insights about the possibility of a cryptocurrency blanket ban in India.

Digital Dollars Take Center Stage in Hearing Before US Senate

Issues such as financial inclusion and competition with China propelled a hearing on digital dollars before the U.S. Senate today.

Lithuania's Central Bank to Launch Eurozone's First Digital Currency

The Bank of Lithuania is about to become the first central bank of the eurozone to issue a national digital currency.

US Banking Regulator Invites Innovators to Talk Tech Virtually

The office of the U.S. Treasury responsible for regulating banks wants to open up dialogue on fintech.

Bank of Japan to Test a Digital Yen

The Bank of Japan, the country's central bank, has reported it plans to start testing its own central bank digital currency (CBDC).

Crypto Nation Is Growing: Switzerland Improves Environment for Blockchain and Cryptocurrency

The newly amended law will be adjusted to create a friendly environment to the work of distributed registries while removing the flaws in the existing framework, particularly when it comes to transferring security tokens. As of now, it involves a lot of bureaucratic red tape.

EU To Crack Down On Stablecoin Projects

The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s proposed Libra.

350,000 Aussie Crypto Users Are Receiving Tax Warning Letters

In March 2020, The Australian Taxation Office (ATO), the entity responsible for tax administration in Australia similar to the IRS in the US, was in the process of initiating the largest crypto tax crackdown.

The Great Estonian Exodus — Crypto Firms Are Leaving Estonia

After the great rise in national crypto regulation in Estonia, the new European Union laws have forced the crypto industry to leave the country.


USDC Market Cap Exceeds $1 Billion

Market capitalization of USD Coin (USDC), a stablecoin issued by regulated financial institutions, exceeded $1,000,000,000, co-founded by Circle and Coinbase organization the Centre Consortium has announced.

Analytics and opinions

How Global Stablecoins Can Promote Financial Stability in the World

Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets.

Bank of Canada: CBDC Should be as Accessible as Cash

Canada's central bank, the Bank of Canada, has issued an analytical note for central bank digital currency (CBDC).

FCA Research Says 2.6 Million UK Residents Have Bought Crypto

The United Kingdom’s Financial Conduct Authority estimates that roughly 2.6 million U.K. consumers have bought cryptocurrency “at some point.”

Tether: Challenging the USD’s Hegemony, Championing CBDC and Beyond

Exploring six major points regarding Tether’s impact on geopolitics and the future development of sovereign digital currency.

The Effect of Stablecoins on Ethereum’s Network

The start of the year has not been good for Ethereum. The transaction count had declined to twelve months low during February, along with the price collapse of Ether, which trailed the cryptocurrency market in general. But on April 30th the transaction count surged by 72% from its lowest point early in the year.

New projects, partnerships, and investments

First Rupiah-Backed Stablecoin Launches on Binance and Tokocrypto

Binance launched the stablecoin on its own blockchain thanks to a collaboration with Indonesian crypto exchange Tokocrypto.

European Innovation Council Awards $5M to Six Blockchain Projects

A Dutch project fighting fake news with blockchain wins the European Commission’s “Blockchains for Social Good” prize.

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