Stablecoins

The Monetary and Banking Research Institute of Iran has completed preliminary research for the launch of a potential digital rial, as part of its central bank digital currency (CBDC) plans, according to an official statement from the Central Bank of Iran's (CBI) research arm. What Happened: The...

With the collapse of both the Silvergate Exchange Network (NYSE: SI) and FTX (CRYPTO: FTT), stablecoins are expected to become even more ubiquitous as traders deposit their dollars with stablecoin issuers and transfer them to exchanges. SEN was widely used by exchanges, market makers, and investors...

Ethereum (CRYPTO: ETH) is dominating the stablecoin market, with a 59.9% market share across all stablecoins as of the end of January 2023. What Happened: According to CoinGecko’s latest report, coming in a close second is Tron (CRYPTO: TRX), with a 26.5% market share across all...

Russians who are outraged by President Vladimir Putin's invasion of Ukraine are sending "significant amounts of money" through cryptocurrency back channels to support Ukraine, according to Ukraine's deputy digital minister, Alex Bornyakov. The war-torn country has received over...

Key industry leaders have come up in arms against the International Monetary Fund’s (IMF) statement that cryptocurrencies in general should not be granted legal tender status, saying central banks the world over are losing their grips on world finance. Leaders say a blanket ban...

Two major crypto exchanges still allow customers of sanctioned Russian banks to transact on their platforms, according to a report from digital asset data analytics firm Inca Digital. The report found that Huobi and KuCoin enable people to trade crypto using debit cards issued by sanctioned Russian...

Days after Platypus suffered major exploitation resulting in a loss of $9.1 million from three separate attacks, the decentralized-finance (DeFi) protocol announced a minimum of 63% of the funds would be distributed to users, regardless of any further update on fund recovery. What...

A recent research report by JPMorgan Chase & Co. (NYSE: JPM) highlights how the U.S. Securities and Exchange Commission (SEC) views most cryptocurrencies as securities. This view extends to staking services, which the SEC views as similar to offering any other type of security. The report,...

The argument that cryptocurrencies are a viable alternative to fiat currency has been settled in the wake of the digital-asset sector's recent turmoil, with technology not being an alternative for "trusted" money, according to the Bank for International Settlements' Agustín...

A research report by Bernstein suggested the recent regulatory action taken against the Binance USD (CRYPTO: BUSD) stablecoin and its issuer Paxos is specific to BUSD and cannot be applied to other stablecoins like USD Coin (CRYPTO: USDC). What Happened: Some in the industry were concerned...

Terraform Labs founder Do Kwon is once again at the center of a high-profile cryptocurrency scandal, with the U.S. Securities and Exchange Commission filing a lawsuit against him and his company, alleging that they engaged in fraudulent activities that led to losses of at least $40 billion....

Morgan Stanley (NYSE: MS) researchers say stablecoin products can potentially compete with traditional banking systems, and its falling market capitalization indicates a reduction in cryptocurrency liquidity and leverage, Coindesk reported. Stablecoins are a type of cryptocurrency whose value is...

The U.S. Securities and Exchange Commission (SEC) recently charged Kraken for offering its staking as a service program as an unregistered security. This has prompted concerns among market analysts and experts about the possibility of a multipronged regulatory crackdown on the cryptocurrency...

Jerome Powell marked his five-year anniversary as the chairman of the Federal Reserve on Sunday. During his tenure, which began on Feb. 5, 2018, the S&P 500 has gained 56%, the Nasdaq Composite has risen 72%, and the Dow Industrial Average is up 39%. Powell is the Fed's 16th chairman...

The cryptocurrency sector was a mess in 2022. "The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," according to a joint statement from the Board of Governors of the Federal Reserve System, the Federal...