Asset-backed stablecoins are digital currencies that are issued against traditional fiat currencies held on a 1:1 peg. In theory, one U.S.-dollar-backed stablecoin should be equal to one U.S. dollar. However, as we’ve seen in the case of tether, this is not always the case. In fact, many popular stablecoins are backed by a similar combination of cash and commercial paper, which … [Read more...] about The Urgent Need for Regulatory Clarity on Stablecoins
Regulatory
Hong Kong begins discussions to introduce stablecoin regulatory framework
Hong Kong's central banking institution, the Hong Kong Monetary Authority (HKMA), released a questionnaire to gauge public opinion on regulations for crypto-assets and stablecoins. The state-backed regulator intends to establish a regulatory framework by 2023-24.HKMA’s “Discussion Paper on Crypto-assets and Stablecoins” highlights the explosive growth of the stablecoin market … [Read more...] about Hong Kong begins discussions to introduce stablecoin regulatory framework
How Crypto’s Regulatory Scene Might Evolve in 2022
Simultaneously, as the bill will only be a point of departure for India, our focus would also be on the following – discovering how India’s taxman claims seigniorage, the regulatory framework the advertisement council adopts, gauging the size of India’s dark web activity, and highlighting how India finds the balance between allowing for responsible advertising while also … [Read more...] about How Crypto’s Regulatory Scene Might Evolve in 2022
Another Crypto All-Time High in 2021: Regulatory Handwringing
We made it! 2021 is coming to a close, the U.S. Congress is on vacation, and we very likely won’t have a Christmas Eve President’s Working Group statement again. As we wrap up this year, it’s worth taking a look at what actually happened over the past 12 months.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. … [Read more...] about Another Crypto All-Time High in 2021: Regulatory Handwringing
How Risk Scoring Can Help Meet Regulatory Requirements
A set of critical safeguarding rules are common to any cryptocurrency transaction, wherever the jurisdiction: tracking blockchain transactions to identify suspicious entities, updating policies and aligning with the latest regulatory requirements, customizing monitoring mechanisms to identify specific risks, conducting consistent risk assessment exercises and studying … [Read more...] about How Risk Scoring Can Help Meet Regulatory Requirements