Stablecoin
Crypto firms Tether and Bitfinex to pay $42.5 million to settle US CFTC charges
Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the US Commodity Futures Trading Commission over allegedly making misleading ...
G7 finance officials endorse principles for central bank digital currencies
G7 finance officials have endorsed 13 public policy principles for retail central bank digital currencies, saying they should be grounded in transparency, the rule of law and sound...
Crypto platform Poly Network says hacked funds returned
Cryptocurrency platform Poly Network has said that almost all of the $610 million stolen this month in one of the biggest crypto heists had now been returned by the unknown person ...
Yellen urges quick US adoption of stablecoin rules
Treasury Secretary Janet Yellen has told regulators that the US government must move quickly to establish a regulatory framework for stablecoins, a rapidly growing class of digital...
Powell says a Fed digital currency could undercut need for cryptocurrencies
Federal Reserve Chair Jerome Powell on Wednesday said one of the stronger arguments for the US central bank to set up a digital currency is that it could undercut the need for priv...
Facebook-backed crypto Diem to launch US stablecoin in major shift
Digital currency group Diem Association, formerly known as Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the US, the grou...
Visa moves to allow payment settlements using cryptocurrency
Visa has said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the...
Facebook-backed digital coin Libra rebrands itself as Diem
Facebook-backed cryptocurrency Libra was rebranded “Diem” in a renewed effort to get regulatory approval by dreading the project’s genuine independence.
Facebook’s Libra is to launch as early as January but scaled back
The Switzerland-based Libra Association which will issue and regulate Libra intends to launch a single electronic coin backed by the buck, the FT newspaper has said.
Facebook’s Libra taps ex-HSBC exec as CFO of payments unit
Another former HSBC executive is heading into the Facebook-backed Libra cryptocurrency project, joining as chief financial officer of a unit tasked with handling the projected digi...
G7 vows to fight ransomware attacks; say stablecoin needs regulation
Fiscal leaders of this world’s seven biggest economies on Tuesday pledged to fight rising ransomware strikes amid the COVID-19 pandemic, also said no stablecoin surgery shoul...
G7 draft: Facebook’s Libra must not start until properly regulated
Financial leaders of this world’s seven largest economies will state on Tuesday that they oppose the launch of Facebook’s Libra stablecoin before it’s properly re...
EU nations call for cryptocurrency curbs to protect consumers
Germany, France, Italy, Spain and the Netherlands called on the European Commission to draw up regulation for asset-backed cryptocurrencies to protect consumers and maintain state ...
Bank of England says regulators must stay ahead of stablecoins
Financial regulators need to avoid playing catch up with electronic payment methods such as stablecoins and crypto-assets, the Bank of England’s new Governor Andrew Bailey ha...
Facebook’s Libra cryptocurrency gets revamp in response to backlash
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory...
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