“One of the challenges that we have in Palau is, it's hard to get pennies, it's hard to get quarters,” Whipps said. “Cash shortages are a real thing here, so what digital wallets would really provide is freedom, freedom from having to go to the bank.” Source link … [Read more...] about Palau President Talks Stablecoin Plans Following Island Nation’s ‘Digital Residency’ Rollout
Stablecoin
FDIC Still Unclear if USDF Stablecoin Is FDIC-Insurable
The consortium has been in dialogue with several regulatory bodies, including the Office of the Comptroller of the Currency, the Federal Reserve, and the FDIC, since before the announcement, Wade Peery, chief administration officer at FirstBank said on CoinDesk TV. He said that the “underlying deposit account is subject to FDIC insurance.” Source link … [Read more...] about FDIC Still Unclear if USDF Stablecoin Is FDIC-Insurable
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
What Is a Stablecoin?
A “stablecoin” is a type of cryptocurrency whose value is pegged to another asset class, such as a fiat currency or gold, to stabilize its price.Cryptocurrencies such as bitcoin and ether offer a number of benefits, and one of the most fundamental is not requiring trust in an intermediary institution to send payments, which opens up their use to anyone around the globe. But one … [Read more...] about What Is a Stablecoin?
US Banks Form Group to Offer USDF Stablecoin
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.@2021 … [Read more...] about US Banks Form Group to Offer USDF Stablecoin