Stablecoins

European Union to Regulate Stablecoins, Not Issue Its Own: Source

The European Union is taking a closer look at how to regulate stablecoins, but has no plans to issue one of its own. A group within the EU presidency is working on a draft political declaration regarding the regulation of stablecoins, an individual familiar with the matter told CoinDesk. First reported by Reuters, the declaration …

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Binance to Open Beijing Office Amid China’s Renewed Blockchain Push

Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai. It’s not clear what exactly the office will do or when it will open, but the move follows a slew of announcements from Chinese authorities, …

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Calibra Head David Marcus Touts Libra’s Money Laundering Standards

Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks. Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finextra reports on Oct. 29 that he explained the nuances of the project …

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After 6 Hours of Zuckerberg Testimony, Congress Still Hates Libra

Yesterday, Oct. 23, Cointelegraph reported from the United States House of Representatives as the Financial Services Committee questioned Facebook CEO Mark Zuckerberg for over six hours. While focused on the Libra Association and its planned Libra token, the hearing expanded to touch on a wide range of concerns and controversies surrounding Facebook.  The hearing was …

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FATF Starts Checking How Well Countries Implement Crypto Standards

<header class=”article__header”> </header> <strong>The Financial Action Task Force (FATF) has agreed on how it will assess whether countries have taken the necessary steps to implement the crypto-related requirements. “Given the global nature of the virtual asset industry, it is essential that countries implement these requirements swiftly,” the FATF emphasized.</strong> Also read: Where US Regulators Stand …

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Indian Finance Minister Answers Crypto Questions at IMF Meeting

<header class=”article__header”> </header> <strong>At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference.</strong> Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed Finance Minister Talks …

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Libra Could Drop ‘Basket’ and Issue Individual Fiat Stablecoins

The Facebook-led Libra project may consider a fundamental change to the way its planned global payments system will operate, according to its chief. Speaking at a banking seminar, according to a Reuters report on Sunday, co-creator of Libra David Marcus said that the firm could consider dropping the currently planned “synthetic” stablecoin – which is …

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Tourists in Popular Japanese Region Could Soon Use a Local Cryptocurrency

Mitsubishi Research Institute (MRI) and an Osaka-based railway company are issuing a local cryptocurrency for use in a popular tourist area in Japan’s Mie Prefecture. The MRI, formed in 1970 by Mitsubishi Group companies, said on Wednesday that the token, dubbed Kintetsu Shimakaze Coin, will be utilizing blockchain and is available only from Nov. 11 to …

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WATCH: How JET8 Is Injecting Crypto Into the Social Media Value Chain

[embedded content] Jet8 is taking a new approach to social media and data ownership using blockchain. Chief strategy officer Joshua Thomson sat down with CoinDesk to discuss how his firm is putting users “back in the center of the value chain.” First, the platform enables anyone to create “instagram-like” applications centered on their own interests, …

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Swiss Federal Council Continues to Monitor Stablecoins and Blockchain

The Swiss Federal Council is continuing to keep close tabs on global stablecoin projects and their possible opportunities and challenges. Switzerland is seen as very crypto-friendly In a press release on Oct. 16, the Swiss Federal Council stated that it was recently informed about “current opportunities and challenges associated with stablecoins” and that Switzerland will …

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