STABLECOIN DIGEST 25.10.2020
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
https://themarketperiodical.com/2020/10/20/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's central bank lays regulatory foundation for CBDC
The new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties
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.
Better to get it right than to be first with CBDC, says US Fed chair
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued.
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 U.S. 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 U.S. 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
Finance Redefined: Is DeFi really a threat to centralized finance? Oct. 14-21
If you look at its governance, definitely not.
‘The cryptoruble is the future’ says Russian policymaker
The parliament member claimed that there are no anti-blockchain voices in the Russian government
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.
Stablecoins Guide | Everything You Need to Know About Stablecoins
https://dailyhodl.com/2020/10/25/stablecoins-guide-everything-you-need-to-know-about-stablecoins/
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 launches world’s first CBDC, the ‘Sand Dollar’
This makes The Bahamas one of the first countries in the world to officially launch a CBDC beyond a pilot program.
BlockShow returns in 2020, partners with Singapore central bank’s fintech event
BlockShow has partnered with the Monetary Authority of Singapore to curate blockchain discussions for its five-day fintech event.
PayPal to offer crypto payments starting in 2021
The rumors are now fully confirmed.
Regulation will keep PayPal's new crypto services from looking anything like crypto
For now, PayPal's crypto payments are more about satisfying regulators than providing users with crypto capabilities.
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.