STASIS Stablecoin Digest 25.10.2020
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Regulation and monetary policy

Understanding the EU’s 6AMLD and the risk to your business

The changes brought about by 6AMLD will affect a lot of businesses, but there is still time to prepare for new rules.

Chasing the hottest trends in crypto, the EU works to rein in stablecoins and DeFi

The proposed EU crypto market regulation will raise many compliance obstacles for the next Libra-like project seeking to operate in Europe.

European Union to Bridle Stablecoins and DeFi

European Commission has created a draft that describes the regulations on crypto-based markets known as MiCA

With job listing, Canada’s central bank takes additional steps towards a CBDC

The winning candidate's primary task will be to monitor the latest developments related to electronic money, but also research “the development of a CBDC”

Latvian regulators warn public about cryptocurrency fraud

Crypto remains underregulated, so Latvian investors need to be extra vigilant, says the FCMC.

Swiss gov’t starts consultation process for blockchain laws

The Swiss government will enforce new blockchain laws in less than a year.

Exploring the landscape of crypto regulations in sub-Saharan Africa

Despite facing hot-and-cold rules, growing crypto usage in sub-Saharan Africa is forcing regulators to reconsider the industry.

China Weighs Ban on Cryptocurrencies Turnover

The People's Bank of China (PBoC) is about to ban cryptocurrencies, issued by any individual or entity.

Analytics and opinions

Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board.

Fed's Powell Warns Against Digitalization Race

Federal Reserve Chairman Jerome Powell believes that the United States should rather focus on reliability than speed in any development of a central bank digital currency (CBDC), Reuters has learned, citing Powell's statement.

Stablecoins went wild in the days before Bitcoin’s recent surge

Retail investors are buying into bitcoin, says CryptoQuant CEO.

Leaders of global CBDC projects talk shop in panel today

Central bank digital currency interest continues gaining global traction.

French finance minister throws shade at crypto, praises blockchain

He stated that he does not “question the reliability and traceability of all blockchain technology,” but denounced crypto.

Pomp says US digital dollar needs to happen now

The US doesn't mind coming a bit late to the CBDC party, but is that the wrong approach?

Private vs. State-run digital currencies: which could replace the dollar?

Author David Birch says a number of digital assets will arise to challenge the dollar as the dominant world currency.

Mainstream DeFi is ‘inevitable’: US currency comptroller

The US acting comptroller of the currency believes the role banks play in society will soon be transformed by crypto assets and DeFi.

CBDC as a store of value threatens financial system, says German official

The German central bank is considering alternatives to CBDC as a digital payment solutions

Russia to Test Digital Ruble in Q4 2021

The Bank of Russia, the country's central bank, might start testing its own version of digital the Russian ruble at the end of 2021, Governor Elvira Nabiullina said during a special press-conference.

Funds locked in DeFi surge $1B as analyst tips post-election bull run

Crypto collateral locked in DeFi protocols has surged to an all-time high over $12 billion.

Law Decoded: Government sandboxes, test beds and crypto compromises, Oct. 16-23

These week's news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress.

New projects, partnerships, and investments

Japanese messaging giant Line developing CBDC platform

The platform would aid central banks in Asia with developing a central bank digital currency.

The Bahamas Releases its Own Digital Currency

The Bahamas has launched a central bank digital currency (CBDC) for residents in the country.

PayPal to Add Crypto Buying and Selling Feature

Payment companies PayPal and Venmo are about to release a joint product that will allow buying, selling and holding cryptocurrencies.

Raiffeisen Bank Bringing Blockchain Interoperability to Its Stablecoin Project

Austria-headquartered Raiffeisen Bank International (RBI) is turning to technology that will allow its tokenized fiat currency to connect to multiple blockchains.

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