stablecoin

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23 Feb 23

Canada goes hard on algorithmic stablecoin issuers

Stablecoins backed by fiat currencies may be exempt from regulation provided their reserves are liquid and undergo monthly audits, according to Canadian watchdogs. This comes as s new report by the CSA reveals a new set of guidelines for crypto entities, most of which were directed to stablecoin issuers. The Canadian Securities Administrators, comprised of securities […]

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13 Feb 23

Paxos to stop minting new BUSD stablecoin

Hours after the US Securities and Exchange Commission (SEC) had issued a Wells notice to Paxos, the issuer of BUSD, the company was reportedly told to stop issuing the stablecoin. New York regulator orders Paxos to stop new BUSD minting Changpeng Zhao, the CEO of Binance, broke the news on Feb. 13 after being informed […]

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13 Feb 23

SEC to pursue Paxos for Binance USD stablecoin issuance

SEC has begun legal plans to sue Paxos for issuing and listing Binance USD, a well-known stablecoin in the crypto ecosystem. The financial watchdog argues that the firm’s token issuance violates investor protection laws. SEC trails Paxos The US Securities and Exchange Commission (SEC) has issued a Wells notice to Paxos, a New York-based crypto […]

31 Jan 23

Hong Kong regulators push for stablecoin guidelines

Regulators in Hong Kong are looking to establish guiding principles for stablecoins before the end of 2023. The news is the latest in a series of crypto-focused regulations from Hong Kong as the city looks to revert to its former cryptocurrency-friendly stance. Stablecoin rules coming in Hong Kong Hong Kong Monetary Authority (HKMA) has announced […]

22 Dec 22

US Senator proposes bill for better stablecoin legislation

Outgoing Pennsylvania Senator Pat Toomey on Wednesday introduced a bill that he expects would serve as a model for stablecoin legislation in the coming year. The bill seeks to give stablecoin an immunity status from the regulatory powers of the security and exchange commission (SEC) and the Commodities Futures Trading Commission (CFTC) Senator Pat Toomey’s […]

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20 Dec 22

Bank of Canada cynical on crypto, plumps for stablecoin regulation

Bank of Canada (BOK) just released a statement on the need for regulating stablecoins pegged to a centralized fiat currency. One of the main reasons for this decision is the high demand for crypto assets in the North American country. The statement comes as the Canadian Securities Administrators (CSA) banned leverage (margin) trading last week. […]

20 Dec 22

Coinbase CEO calls for regulation of stablecoin issuers

Coinbase’s CEO, Brian Armstrong, proposed a plan on Monday to bring regulatory stability to the crypto industry. He believes the law will encourage the adoption of stablecoins. Stablecoin issuer regulation: a positive development Armstrong has argued in a blog post that regulation should start with centralized entities like stablecoin issuers, exchanges, and custodians because they […]