STASIS Stablecoin Digest 28.08.2020
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30 August
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Regulation and monetary policy

China’s Blockchain Service Network to launch stablecoin support in 2021

China’s national blockchain project BSN could be the best fit for the digital yuan.

UK FCA wants to include crypto firms in financial crime reporting rules

The UK’s financial watchdog wants crypto firms to submit annual financial crime reports to help it cement a data-led approach to regulation.

Indian crypto P2P market size triples despite regulatory uncertainty

In addition to the Indian P2P market surging in recent months, the country’s DeFi sector has been gaining momentum.

Brazil's Central Bank to Study Use of CBDC

The Central Bank of Brazil, Banco Central do Brasil, is studying the use of central bank digital currencies (CBDC) and evaluating the benefits and impacts of the eventual issuance of the asset.

BitGo seeks to become a qualified crypto custodian in New York state

Digital asset financial services firm BitGo has formally applied for a New York Trust Charter from the NYDFS.

Crypto leaders at odds over SEC’s ‘accredited investors’ move

Many prominent crypto players responded positively to the SEC decision, while others said the move falls short.

Analytics and opinions

Central Bank Digital Currencies and Their Role in the Financial System

What are CBDCs and the risks they possess, and how might they reshape our economies?

‘So Many Things Wrong’ With IMF Education Video, Says Crypto Twitter

According to an educational video from the International Monetary Fund, cryptocurrencies could be ‘the next step in the evolution of money.’

China's digital yuan trials reportedly limited to small retail transactions

China’s central bank released a new statement to debunk some rumors.

Public interest in central bank digital currencies surpasses Bitcoin in 2020

The 2020 pandemic could accelerate global efforts to issue CBDCs, say BIS analysts.

DeFi giant Aave (LEND) rallies 40% after receiving UK FCA approval

Aave's LEND rallied to a new all-time high at $0.77 after receiving an Electronic Money Institution license from the UK Financial Conduct Authority.

DeFi surpasses $7B in locked funds, but just six projects hold 90% of capital

Despite DeFi’s meteoric growth, only half a dozen projects represent more than 90% of the capital locked in the sector.

A new report from Mexico says banks are used to launder money more than crypto

The traditional banking sector is lagging behind in the race with crypto.

How DeFi Is Reinventing The World's Financial System

Richard is the CEO of Quantstamp and a leader in blockchain and smart contract enterprise security.

New projects, partnerships, and investments

Binance.UK Joins Self-regulatory Trade Association

The British affiliate of the Binance cryptocurrency exchange, Binance.UK, has joined a self-regulatory trade association called CryptoUK as an Executive Member.

Switzerland’s top online retailer completes transaction with digital franc

The first regulated stablecoin in Switzerland is entering e-commerce.

African crypto exchange raises $1.5M from Polychain and others

Crypto is truly a global asset class.

UK exchange Archax teams up with Algorand on DeFi projects

The partnership between Archax and Algorand could help bridge the gap between decentralized and centralized finance.

Framework Labs nabs $8M in funding round

‘DeFi is not a spectator sport,’ says Framework Labs co-founder Vance Spencer.

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