STASIS Stablecoin Digest 21.08.2020
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Regulation and monetary policy

Good Stablecoin Rules in the EU Pave the Way for CBDCs and a Digital Euro

In the EU, getting laws right on Libra could be the best way to speed up a digital euro from the European Central Bank.

California Moves Forward With Digital Asset Bill

Originally seeking to define digital assets, the bill now orders for a study to look at the impact of digital assets if these were securities.

China’s Digital Yuan CBDC Is Close, but Many Details Remain Unknown

Despite the interest currently surrounding the digital yuan, some are not yet sure of the project’s overall scope and mainstream viability.

Bank of England Joins Key Roundtable on Central Bank Digital Currency Design

The Bank of England is keeping central bank digital currency research high on its 2020 agenda.

Turkey Residents Panicking Over Massive Inflation

Turkish residents are losing faith in their local fiat currency, with confidence in the lira falling 20% this year.

Russian Bank Issues Crypto Loan Backed by Waves

A loan secured by cryptocurrency has been officially issued in Russia for the first time.

South African Regulator Warns Against Using Mirror Trading International

Mirror Trading International is getting flak from regulators worldwide.

Singapore: Code of Practice Offers Practical Guidance for Crypto License Applications

Singapore’s crypto industry association is providing resources for local firms as they navigate new regulatory requirements.

Europe to introduce ‘historic’ legislation for Bitcoin and cryptocurrencies in autumn

The European Union will complete new "historic" legislation on Bitcoin and cryptocurrencies this autumn. Under the new regulations, Bitcoin and other cryptocurrencies will be classified as financial instruments throughout Europe.

Between Crypto, Libra, Stablecoins, And Digital Dollars, Congress Introduced 35 ‘Blockchain’ Bills

During the 116th Congress, a number of events have provided an enormous uptick in the attention paid to the cryptocurrency and blockchain policy area.

Analytics and opinions

Can Belarus Use Crypto to Bypass Sanctions? Experts Are Skeptical

Sanctions could be coming to Belarus. Can the crypto-friendly country beat it with Bitcoin or Ethereum?

Top Indian Central Banker Says Cryptos Have a Future But Fears Monopoly

A former chief economist of the IMF said neither private digital currencies nor central bank digital currencies should hold a monopoly.

US Bank Regulator Sees Potential in Fintech Solutions to Legacy Banking Issues

A fintech-positive US banking regulator sees a role for private companies in providing better banking services.

Tether Remains Top Stablecoin in East Asia

The largest stablecoin by market cap, tether (USDT), is also the most popular stablecoin in East Asia, making up 93% of all stablecoin value transferred by addresses in the region.

Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy

Institutional demand for stablecoins may cool because yield on “carry trades” has been cut in half since Monday.

New projects, partnerships, and investments

Huobi DeFi Labs Introduces Global Alliance with Cross-Border Collaboration

The newly-formed decentralized finance (DeFi) division of a cryptocurrency exchange Huobi, Huobi DeFi Labs, has launched the Global DeFi Alliance.

Robinhood Continues to Gain Capital with New Funding Round

An American financial services company Robinhood continues climbing up to the top of the investment market with a $200 million Series G funding at an $11.2 billion valuation from D1 Capital Partners.

Crypto Lender BlockFi Attracts $50M from Morgan Creek

A financial services company focused on lending cryptocurrencies, BlockFi Inc., announced it has attracted $50 million in Series C funding led by Morgan Creek Digital.

TUSD Stablecoin Added to RX Wallet

With this integration, the TUSD tokens are added to a growing list of other leading tokens like ETH, RVX, ERC-20, and WRC-20 tokens.

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