Hong Kong regulators announced the conclusion of a stablecoin regulation consultation phase that saw stakeholders provide 108 submissions. The regulators claimed that the proposed regulatory requirements received positive feedback from stakeholders. Stakeholders Support Introduction of Stablecoin Regulatory Regime On July 17, Hong Kong regulators—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong […]
Standard Chartered Bank (Hong Kong) Ltd. (SCBHK), Animoca Brands, and Hong Kong Telecom (HKT) have united to participate in the Hong Kong Monetary Authority’s (HKMA) stablecoin issuer sandbox, announced in March. Leveraging Zodia Custody’s digital asset capabilities, the collaboration aims to promote sustainable and transparent growth in the digital asset market. Zodia is Standard Chartered’s […]
While the stablecoin economy experienced tepid growth in June, it expanded by $ 344.15 million over the past seven days. Paypal’s PYUSD, currently the eighth largest stablecoin by market capitalization, led the growth over the past 30 days, increasing 41.2% to reach $ 585.25 million. Stablecoin Economy Grows as Bitcoin and Ethereum Prices …
The Securities and Exchange Commission (SEC) has decided to end its investigation into Paxos, a New York-based issuer of stablecoins, suggesting that stablecoins may not be treated as securities in most cases. This decision comes more than a year after the SEC sent Paxos a Wells Notice concerning the BUSD stablecoin, which is backed by […]
The Bank of Russia has highlighted the conditions it will need to consider when regulating the use of stablecoins for Russian individuals and companies. The bank stated that before a regulation is enacted, a thorough study of these assets and a discussion with the relevant actors of the market and the community around them should […]