STASIS Stablecoin Digest 07.08.2020
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Aug. 9, 2020

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Regulation and monetary policy

Industry Calls on US Regulator to Open Floodgates on Banks’ Crypto Capabilities

A number of crypto businesses and non-profits have written to the main banking regulator in the U.S. asking for banks to have more authorization to deal with crypto.

The World Association of Stablecoins is Launched in Switzerland

The crypto community has announced the launch of a new association aimed at bringing together the main stablecoin projects such as Tether or the USDC.

Russian Government Bans Anonymous Wallet Deposits

Lawmakers contend that the Russian government’s intent is to curb illicit financial activity.

China’s Digital Yuan to Reportedly Target Dominance of Alibaba and Tencent

China’s central bank may be planning to use its digital currency to curb the dominance of Alibaba and Tencent in the digital payments sector.

Russia's Largest Bank Takes Closer Look at Stablecoin

A state-owned Russian largest bank, Sberbank, may issue its own stablecoin pegged 1:1 to the Russian ruble.

Deregulating Crypto Could Spark More Speculation Says Japan's FSA

Deregulating bitcoins and other cryptocurrencies may not necessarily promote technical innovation, says Japan’s new top financial regulator.

China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan

State-owned commercial banks in China are reportedly testing a wallet for the country's forthcoming digital yuan.

Putin Signs Law Giving Cryptocurrency Legal Status in Russia

Russia’s bill to regulate cryptocurrencies has been signed into law by President Vladimir Putin. The new law gives legal status to cryptocurrency but prohibits its use as a means of payment.

Regulation of Cryptocurrencies like Bitcoin in Europe

The primary purpose is to describe the facts for cryptocurrency and the regulation of cryptocurrency like bitcoin in Europe, which is such the most prominent place to live. Europe is making a lot of progress in every walk of life, and the same is the case with cryptocurrencies.

Analytics and opinions

Decentralized Energy Is Key to a DeFi Future

Decentralized finance should include decentralized energy as it uses dApps and blockchain and has the same logic, says Lition.

As DeFi Booms, Yearn Finance (YFI) Shifts 100% of Token Supply to Users

The DeFi sector recently achieved a record $4.23 billion in total value locked, so why did Yearn Finance distribute its full token supply to its users?

Crypto, Meet Fiat. You Two Should Get A Coffee Sometime

A handful of studies suggests merchants would be happy to accept digital currencies due to the lower transaction fees involved. But volatility is a major concern, and judging by another wild week in crypto it will continue to be so.

‘High Probability’ Bitcoin Rises as USD Sinks to 2008 Levels, Says CEO

The US dollar is at risk of falling below the lower end of a 12-year trendline as some analysts argue that this may be a bullish turning point for Bitcoin's price.

Twitter Hack Shows That Crypto Is Easier to Investigate Than Fiat, Say Industry Law Experts

A panel of compliance experts from the crypto industry agreed that law enforcement and institutional finance have been hearing more positive narratives about crypto.

On Solid Ground: Stablecoins Thriving Amid Financial Uncertainty

The state of stablecoins: Demand for stablecoins continues to grow amid financial uncertainty.

New projects, partnerships, and investments

Swiss Cantonal Bank to Offer Bitcoin Custody & Trading Services

The first Swiss-backed bank, Basler Kantonalbank, will begin offering crypto custody and trading services via a subsidiary next year.

Goldman Sachs Appoints Crypto Supporter as Head of Digital Assets

Goldman Sachs has appointed a new global head of digital assets as part of a new crypto-oriented vision.

Europe's Top Crypto Payment Provider Now Supports USDC

One of the largest crypto-focused payment providers, BCB Group, has announced it entered into a partnership with Circle to improve the speed, efficiency and cost of client payments and settlement across select parts of BCB Group.

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