STASIS Stablecoin Digest 19.07.2020
Main page Digest, Fintech, Startups, Crypto Market, Stablecoins

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Regulation and monetary policy

G20 Lays Regulatory Groundwork for Accepting Digital Payments

G20 officials announced on July 11 that they would begin laying the regulatory groundwork for the group to accept digital payments.

Singapore Completes Development of Blockchain-based Payments Network

Singapore's central bank, the Monetary Authority of Singapore (MAS), has announced it completed development and testing of a blockchain-based multi-currency payments network called Project Ubin.

Bank of England Considering Issuing CBDC, Governor Says

The UK's central bank, the Bank of England (BoE), is looking at the possibility of issuing a central bank digital currency (CBDC)

South Korea Could Impose a 20% Tax on Crypto Capital Gains

The South Korean authorities are exploring the possibility of imposing a new tax on capital gains from cryptos.

Japanese Government to Include CBDCs in the Country's Official Economic Plan

Local news outlet Nikkei has reported the Japanese government plans to include central bank digital currencies (CBDCs) in its Honebuto Plan, aimed at economic and fiscal revitalization.

Chinese Ride-Sharing Giant Didi to Test Digital Yuan

Chinese ride-sharing giant Didi has reported it plans to test China's central bank digital currency (CBDC), according to an official announcement shared yesterday.

Digital Yuan CBDC Momentum Grows as More Chinese Firms Get to Testing

As the development of the digital yuan project progresses, the number of China’s largest companies testing the national cryptocurrency is rapidly growing.

Thailand Starts Testing CBDC with Local Business

The Bank of Thailand (BoT) has expanded testing of a central bank digital currency (CBDC) among large businesses, the Nation Thailand has learned, citing BoT Assistant Governor Vachira Arromdee.

FATF Report to the G20 on Stablecoins

Stablecoins have attracted much regulatory attention lately. The G7 working group on stablecoins, the International Organization of Securities Commissions, the Financial Stability Board (FSB) and the European Commission are among the international institutions pressing for global stablecoins regulation.

Analytics and opinions

A Path of Challenges: Will CBDCs Prevail Over Private Blockchains?

CBDCs will be the leading digital currencies of the future, and only the competition between various models will determine the winner.

High Stablecoin Buying Power Could Predict Bitcoin’s Next Bull Run

Today, stablecoins buy 15-times as much Bitcoin as in early 2018, this could bode well for the next bull run, if and when it happens.

Former Chinese Official Says CBDC Will Pave Way for Digital Stocks

A former Chinese official says the development of a digital currency will lay the foundation for the birth of digital stocks.

Institutional OG: The Fact That You Can Go 100x Leverage on Bitcoin Is Pretty Wild

High usage of leverage in Bitcoin futures is the symptom of a gambling mentality in crypto, argues CMS Holdings’ Dan Matuszewski.

Hong Kong Citizens Turn to Stablecoins to Resist National Security Law

In Hong Kong, some local citizens are turning to crypto assets and encrypted communication to resist financial surveillance and internet censorship.

BIS report for G20 acknowledges role of global stablecoins to enhance cross border payments, but longer term

The report categorizes CBDCs and stablecoins as a longer term bet. It states: “the building blocks in focus areas A to D are more likely to improve cross-border payments in the short to medium term, while focus area E has a longer-term perspective.”

Institutions drive inflows surge at Grayscale as big investors turn to digital assets

Digital assets have surged in popularity with investors seeking "safe havens" outside traditional asset classes. Digital asset manager Grayscale Investments reports that a record USD905 million flowed into its family of 10 funds in the second quarter of 2020.

New projects, partnerships, and investments

Japanese Largest Bank to Issue Stablecoin in 2020

The largest bank in Japan, Mitsubishi UFJ Financial Group (MUFG) Bank, Ltd., wants to issue its own stablecoin called MUFG Coin in the second half of 2020

Kyber Network now on Syndicate

Kyber Network (KNC) is now available on the Syndicate Lite platform.

Binance USD to be added to Zilliqa blockchain

Binance USD is coming to the Zilliqa network.

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