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Swiss Government Quashes ‘E-Franc,’ Says Current Risks Outweigh Benefits

News The government of cryptocurrency-friendly Switzerland has shot down the idea of issuing a digital Swiss franc, for now. According to a Dec. 13 press release published on the Federal Council’s website, the Federal Council approved a report exploring the opportunities and risks of issuing a dig..

ECB President: ‘We Better Be Ahead of Curve’ on Stablecoins

News The president of the European Central Bank (ECB), Christine Lagarde, said that the financial institution should be ahead of the curve regarding the demand for stablecoins. According to a tweet by the ECB on Dec. 12, Lagarde said: “My personal conviction on the issue of stable coins is that we..

Bitpay Launches Support For Three USD Stablecoins — But Not Tether

News Controversial cryptocurrency payment processor BitPay has announced it is adding three stablecoins to its list of supported tokens. In a press release on Dec. 10, BitPay confirmed businesses could now accept payment in USD Coin (USDC), Gemini Dollar (GUSD) and Paxos Standard Token (PAX). All..

Coinbase Card Rolls out DAI as First Supported Stablecoin: Official

News Coinbase Card, a crypto-powered Visa debit card from major crypto exchange Coinbase, now supports Dai (DAI), a stablecoin pegged to the United States dollar. According to a blog post on Dec. 6, Dai is the first stablecoin that is available on Coinbase Card, alongside major cryptocurrencies su..

EU Won’t Let Stablecoins Enter Market Until Risks Are Addressed

News No global stablecoin project will begin operation in the European Union (EU) until the associated risks to monetary sovereignty are addressed, according to EU authorities. In a joint statement adopted by the Council of the European Union and the European Commission (EC), the Council and the C..

Stablecoin Adoption Can Impact Economy, Warn Senior US Regulators

News A panel of senior financial regulators in the United States has warned the public about the purported risks of stablecoins and cryptocurrencies. A report issued on Dec. 4 by the Financial Stability Oversight Council (FSOC) highlighted potential problems resulting from stablecoins gaining wid..

This Cryptocurrency Seems Designed For A Post-State Society

News Upstart crypto company Saga wants to issue a new global currency on the blockchain. Just don’t call it a stablecoin. Saga’s SGA digital currency relies on an international reserve asset called Special Drawing Rights (SDR), which was introduced by the International Monetary Fund in 1969. This ..

Crypto Exchange Gemini Burnt One-Fifth of Its GUSD Stablecoin Supply

News Cryptocurrency exchange Gemini burnt about one-fifth of its Gemini Dollar (GUSD) stablecoin total supply on Dec. 3. Whale Alert — a Twitter account dedicated to tracking large cryptocurrency transactions — reported on Dec. 3 that 1,035,020 GUSD were burnt in a single operation. This number of..

US Lawmakers Want to Brand Libra a Security, Association Disagrees

Analysis A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle..

US Fed Weighs Up Potential CBDC as Countermove Against China

Analysis Where just a handful of years ago, the idea would have been immediately dismissed or even met with ridicule, the United States Federal Reserve is now taking the concept of an official dollar stablecoin seriously. Markets have heard more frequent guidance from the Fed on cryptocurrencies i..

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