STASIS Stablecoin Digest 12.07.2020
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12 July
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Regulation and monetary policy

How the US and Europe Are Regulating Crypto in 2020

Crypto regulation in 2020: The US tightens regulation of crypto, while India has finally allowed banks to get involved with firms.

Digital Assets Deliberations: The Role of ISINs in Relation to Digital Assets

A closer look at the role that International Securities Identification Numbers may take in the harmonization of standards for identifying digital assets.

Monaco Passes New Security Token Laws, but Acting on Them Is Not Easy

The government of Monaco has passed a new bill introducing the establishment of a security token framework.

Former Official Says China Needs to Reform Crypto Laws

A Chinese official indicated that crypto will inevitably be part of the digital capital market.

Legal Implications of Secondary SAFT Sales, Part 2

Part 2 of this series continues to cover the legal implications associated with the sale of SAFTs and focuses on taxes related to tokens.

CFTC to Present Crypto Framework by 2024

The US Commodity Futures Trading Commission (CFTC) is planning to develop "a holistic framework" as part of its strategic plan for 2020-2024.

Italian Banking Industry Chose Decentralization Over Centralization

The Italian Banking Association, or ABI, uses a blockchain-based system called Spunta, built with decentralization in mind.

USDC Developers Freeze Address With $100,000

The Centre consortium, issuer of the stablecoin USDC, has just added an Ethereum user account to its blacklist for the first time. The user's wallet has $100,000 in USDC tokens.

Malaysian Regulator's Shariah Advisory Council Allows Digital Asset Trading

The Malaysian authority that oversees compliance with Islamic law in finance has permitted digital asset trading.

The United States Has to Upgrade the Legacy Financial System

Slow-roll regulations in the United States may leave Americans behind in the financial innovations’ running.

Why Banks Keep Blocking Cryptocurrency-Related Transactions

The close interaction between traditional finance and regulators is the key element in the development of the cryptocurrency industry.

Lithuania Rolls Out World’s First Collectible Crypto

Lithuania's central bank has opened an e-shop for purchases of a crypto coin for collectors dedicated to the Baltic nation’s 1918 declaration of independence.

Competitors

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.

Within 72 hours USDC treasury transfers over 50,000,000 USDC to wallets

Crypto lovers continued to troop to stablecoins, as USDC market cap broke the $1 billion market capitalization.

Analytics and opinions

Gemini Chose to Wade Regulation In New York, Weighs in on Conditional BitLicense

Gemini looks at regulation as a good thing, with the recently suggested conditional BitLicense as a move in the right direction.

DeFi Offers Potential Investment Opportunities Said HyperChain Capital

HyperChain Capital CEO says DeFi provides potential growth and investment opportunities for the digital assets management firm.

Visa Head of Crypto Classifies CBDC as Important Trend of Future Money

The Head of Crypto at Visa, Cuy Sheffield, wrote on Twitter that central bank digital currency (CBDC) is "one of the most important trends for the future of money and payments over the next decade."

Expert: China's Digital Yuan Will Target the Dollar, Not Bitcoin

With its forthcoming digital yuan, China will aim to rival the U.S. dollar, not Bitcoin, say experts.

Global Compatibility Is A Key Factor In The CBDC Race, Says Expert

CBDCs will have to be internationally interoperable to become globally adopted, says a Hong Kong University expert.

COVID-19 Could Accelerate Crypto Adoption

Coinbase’s former CTO believes overpowered governments could lead to accelerated crypto adoption post COVID-19.

CBDCs and COVID-19 Top Agenda in First Two Days of Unitize Conference

An overview of the first two days of the Unitize virtual blockchain conference where top crypto and blockchain experts offered their views on topical issues in the industry.

‘Libra Will Never See The Light Of Day’: Monetary Historian

Economic historian Barry Eichengreen believes that stablecoins are either too fragile, or too expensive, to emerge as a dominant monetary form.

New projects, partnerships, and investments

Ride-Hailing Giant DiDi Joins China’s Digital Yuan Project

The world’s second-highest-valued unicorn startup has partnered with the Chinese central bank to work on the forthcoming digital yuan.

China’s CBDC Project to Collaborate With More Domestic Enterprises

A major Chinese e-commerce platform and a video sharing site have reportedly joined China’s CBDC project.

BitTorrent Adds Support for BUSD Token

Communication protocol for peer-to-peer file sharing BitTorrent has added support for Binance USD (BUSD).

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