(source: en.wikipedia.org)
The CEO of Circle says he sees “tremendous opportunity” stemming from a potential yuan-pegged stablecoin. China is looking to make the yuan more prominent in the world financial system, and stablecoins — cryptocurrencies designed to hold a set value, typically pegged to a fiat currency — have...
Goldman Sachs has filed a registration statement with the Securities and Exchange Commission (SEC) for a new bitcoin exchange-traded fund (ETF). The Goldman Sachs Bitcoin Premium Income ETF “seeks current income while maintaining prospects for capital appreciation,” according to the statement. The bank will not...
French bank Societe Generale is expanding access to its dollar-denominated stablecoin. The lender on Wednesday (April 15) announced a collaboration between its crypto-focused division Societe Generale-FORGE and blockchain company Consensys to make its USD CoinVertible token available on cryptocurrency wallet MetaMask. The move gives MetaMask’s millions of users, for the first time,...
Tether, issuer of the world’s largest stablecoin, has introduced its first digital wallet. The tether.wallet is designed to bring the company’s infrastructure directly into the hands of its users, Tether said in a Tuesday (April 14) news release. The release said that while Tether’s technology is...
The Securities and Exchange Commission (SEC) said Monday (April 13) that it will not object to specified providers of user interfaces for crypto asset transactions creating, offering or operating those interfaces without registering as a broker-dealer. These interfaces include specified ones provided by a website,...
Circle’s CEO has reportedly responded to criticism over how his company handles illicit funds. During a press conference in Seoul, Jeremy Allaire said the stablecoin issuer does not freeze wallets unless it has a formal legal basis, CoinDesk reported Monday (April 13). He characterized Circle’s...
Japan is reportedly moving closer to classifying cryptocurrencies as financial products. According to a report Friday (April 10) from Nikkei, a draft amendment before the country’s Cabinet would place crypto assets under the Financial Instruments and Exchange Act, a framework used for stocks and securities. ...
Crypto exchange Kraken’s limited purpose account granted by the Kansas City Fed has some restrictions designed to mitigate risk, Reuters reported Friday (April 10). Kraken can’t earn interest on reserve balances held at the Fed, can’t access emergency Fed lending, and can’t access the Fed’s...
Treasury Secretary Scott Bessent called Thursday (April 9) for Congress to pass the Digital Asset Market Clarity Act (CLARITY Act), warning that the current lack of a clear regulatory framework is eroding U.S. leadership in the crypto market. In a Wall Street Journal op-ed, Bessent...