STABLECOIN DIGEST 29.11.2020
Regulation and Monetary Policy
OECD tax director says international crypto tax standards are coming in 2021
The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year.
UAE, Saudi Arabian central banks release report on Project Aber CBDC trial
The joint report is among the most promising CBDC studies conducted by central bank authorities
Crypto.com secures regulatory approvals from Maltese authorities
https://cointelegraph.com/news/crypto-com-secures-regulatory-approvals-from-maltese-authorities?utm_source=Telegram&utm_medium=social
The MFSA is finally issuing the first licenses formed under the crypto laws introduced in 2018.
Nigeria is establishing a framework for widescale crypto adoption
Africa’s largest economy has become a bastion for crypto adoption.
Chinese banking giant withdraws $3B blockchain bond from listing
The $3 billion blockchain bond has been effectively cancelled.
Suzhou to launch digital yuan 'red envelope' trial for Double 12 event
Tied in with a national shopping event, the trial will add "offline" and "touch" functionality.
Lithuanian tax service’s first confiscated crypto sale nets $7.6M
The Lithuanian State Tax Inspectorate exchanged Bitcoin, Ether and Monero for 6.4 million euro.
Russian prime minister proposes legal steps to bring order to crypto market
Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code.
Law Decoded: Cents and stability, Nov. 20–27
Stablecoins and CBDCs and their related issues of privacy and surveillance lead this week's Law Decoded.
Competitors
Tether's market cap is growing at a near-record pace
https://cointelegraph.com/news/tether-s-market-cap-is-growing-at-a-near-record-pace?utm_source=Telegram&utm_medium=social
The market cap of USDT swelled by 1 billion over nine days.
Analytics and opinions
DeFi-ing expectations: Great opportunities in crypto can come at a price
A record-breaking year for DeFi, but can it break away from the negative perceptions around yield farming and pump-and-dump schemes?
US Fed researcher says CBDCs should beat Big Tech payments on privacy protection
The paper also put forward CBDCs as solutions to high transaction fees and the energy use of mining cryptocurrencies like Bitcoin.
BIS report suggests ‘embedded‘ monitoring tool for stablecoins
After proposing automated ways to monitor global stablecoins like Libra, a new report from BIS argues that a better solution may ultimately be central bank digital currencies.
A digital yen will make the crypto market ‘more lively,’ says Monex CEO
Oki Matsumoto, the head of Japanese financial services giant Monex, has welcomed the Bank of Japan’s recent interest in central bank digital currency.
Overexposed: DeFi indexes aren’t as diversified as you think
Research has found overexposure to a few “blue chip” DeFi tokens is an issue for indexes.
Investors fast using stablecoins rather than money in keeping their profits
USDC, a stablecoin project, in recent days has shown significant use among crypto investors
ECB says ‘big tech and stablecoins’ a risk to the European Financial System
https://eng.ambcrypto.com/ecb-says-big-tech-and-stablecoins-a-risk-to-the-european-financial-system/
Big tech and stablecoins could disrupt the European financial system, says ECB Executive Board Member, Fabio Panetta.
New projects, partnerships, and investments
DeFi's biggest names contribute to $1.1M investment in dHEDGE's fund managers
https://cointelegraph.com/news/defi-s-biggest-names-contribute-to-1-1m-investment-in-dhedge-s-fund-managers?utm_source=Telegram&utm_medium=social
HEDGE has announced that $1.1 million will be injected into its fund managers’ pools by six of the platform’s investors and the dHEDGE DAO.
CNBC’s Ran Neuner launches world’s first 24/7 crypto call-in station
Crypto Banter is the first cryptocurrency-centric media outlet available 24/7.
Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin
Libra will initially be pegged to just one fiat currency.
Ukrainian government sponsors educational web show about cryptocurrencies
The course teaches citizens the basic concepts and ideals of cryptocurrencies.
EURST Stablecoin – Reinvention of the European Economy
https://news.bitcoin.com/eurst-stablecoin-reinvention-of-the-european-economy/
In the current economic hardship and the Covid-19 global pandemic, the European Union has had to face many operational and structural facts, one of them being the strength of the fiat currency; the Euro.