News

BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning

Coins Legend February 22, 2023 0

According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins

Exchanges News

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days

Coins Legend February 19, 2023 0

Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over […]

Finance

Argentina Runs to Stablecoins Amidst Political and Economic Uncertainty

Coins Legend July 6, 2022 0

Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by […]

Altcoins

The Number of Tethers in Circulation Dropped by Over 12 Billion in 2 Months, USDC Grew by 9%

Coins Legend June 17, 2022 0

During the last two months, the stablecoin tether has been one of the most traded crypto assets swapped against a myriad of digital currencies. 66 days ago on April 11, 2022, tether’s market valuation was over $82 billion with 82,694,361,442 tethers in circulation. Since then, more than 12 billion tethers have been removed from circulation […]

News

Human Rights Advocates Insist Bitcoin ‘Provides Financial Inclusion’ — Refutes Claims in Critics’ Letter to US Congress

Coins Legend June 13, 2022 0

Human rights defenders from 20 countries have insisted that bitcoin “provides financial inclusion and empowerment because it is open and permissionless.” Together with stablecoins, the cryptocurrency offers “unparalleled access to the global economy” for people from countries whose currencies have either collapsed or are cut off from the rest of the world. Bitcoin as a

News

Digital Real Will Be Used by Banks in Brazil as Collateral to Issue Their Own Stablecoins

Coins Legend June 7, 2022 0

The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins […]

News

UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown

Coins Legend May 16, 2022 0

The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the