STABLECOIN DIGEST 06.11.2020
Regulation and monetary policy
Christine Lagarde invites public comments on eurozone CBDC
Former IMF Chief and President of the European Central Bank solicited input on possible CBDC
Cayman Islands introduce regulations for virtual asset service providers
The notorious tax haven appears to be cleaning up its act on AML and counter terrorist financing ahead of an FATF review.
South Korean financial watchdog will ban privacy coins from exchanges
Virtual asset service providers in the country will not be allowed to handle “dark coins.”
Gibraltar is now an observing member of the Global Blockchain Business Council
https://cointelegraph.com/news/gibraltar-is-now-an-observing-member-of-the-global-blockchain-business-council?utm_source=Telegram&utm_medium=social
The British Overseas Territory is making steps toward bringing blockchain adoption into the mainstream.
Economy minister says Brazil will have its own CBDC
Paulo Guedes said that the Brazilian real will have a digital counterpart and also highlighted the autonomy of its central bank.
More crypto regulation is coming, industry execs say
After multiple years of heightened legal overwatch, the future may hold much of the same.
Russia's central bank says the pandemic has accelerated regulators' interest in CBDCs
The pandemic-induced crisis is galvanizing new trends across all aspects of the global economy, including digital currencies.
Competitors
Tether market cap surpasses $17 billion, fueling Bitcoin price rally
Bitcoin’s new highs come amid lots of new money pouring in via stablecoins.
DAI Experiences 623% Growth in Q3
https://www.altcoinbuzz.io/cryptocurrency-news/product-release/dai-experiences-623-growth-in-q3/
There has been a boost in decentralized finance in the last quarter helping Ethereum-based stablecoins.
Analytics and opinions
The crypto compliance lie: Sacrificing privacy does not make us safer
The lightchain-vs.-darkchain dichotomy is counterproductive, and a healthy graychain will produce more valuable crypto assets like Bitcoin.
China’s digital yuan pilots have processed $300M so far, says PBoC head
China’s digital yuan pilot program is picking up speed.
DAI’s growth is crucial to DeFi, here’s why
https://eng.ambcrypto.com/dais-growth-is-crucial-to-defi-heres-why/
The stablecoins sector has been working behind the scenes and has been witnessing great growth in 2020. Even though Tether was at the top spot in terms of its supply, DAI and USDC were catching up.
The two sides of the (stable)coin
https://www.finchannel.com/business/finance/79099-the-two-sides-of-the-stable-coin
The FINANCIAL -- Speech by Fabio Panetta, Member of the Executive Board of the ECB, at Il Salone dei Pagamenti 2020
Huobi says all is fine amid massive USDT exchange deposits and BTC withdrawals
https://cointelegraph.com/news/huobi-says-all-is-fine-amid-massive-usdt-exchange-deposits-and-btc-withdrawals?utm_source=Telegram&utm_medium=social
Does someone know something the public doesn't?
Zero-sum game: DeFi declines while Bitcoin booms
While Bitcoin’s value has increased by more than a third since September, DeFi tokens have floundered. Are these developments related?
China’s digital yuan is ‘a long way’ from beating USD says financial firm exec
Sounds like its CBDC is unlikely to dethrone the United States dollar as the world’s reserve currency anytime soon.
Australian senator says blockchain can make financial compliance easier
“The future is technology by blockchain,” says an Australian Liberal senator.
Ethereum fees declining as DeFi markets cool
Is the DeFi bubble over? Bitcoin network activity spike may indicate that attention is shifting towards crypto's largest asset.
New projects, partnerships, and investments
Reserve Bank of Australia forms partnerships to research CBDC
The project will “explore if there is a future role for a wholesale CBDC in the Australian payments system,” according to the RBA.
A new DeFi project could let smart contracts buy physical goods
But the solution isn't exactly simple.
What is xDAI? A Guide to the USD Stablecoin Blockchain
https://www.asiacryptotoday.com/xdai/
xDAI is a decentralized platform powering payments with a 5-second transaction speed and transaction fees as low as $0.01 for 500 transactions using a trusted stablecoin.
PayPal crypto services to go global early 2021, support for CBDCs coming
PayPal is planning to launch crypto services for users of its platform globally, along with the Venmo app, and the company will explore central bank digital currencies.
Russian Alfa-Bank joins HSBC-backed blockchain trade finance network
A major global blockchain trade network welcomes one of Russia’s largest banks.
Capitalizing on USDC Stablecoin Growth, Circle Spreads Wealth
https://decrypt.co/47384/capitalizing-usdc-stablecoin-growth-circle-spreads-wealth
The company behind the world’s second-largest stablecoin is introducing high-yield USDC accounts.