Tag Archives: Stablecoins

In a cryptocurrency world dominated by price swings, some risk-averse investors seek a digital asset with more stability. Enter the stablecoin, a type of token that is designed to carry a fixed value. Stablecoins are intended to be — and largely have been — less susceptible to volatility because they are backed by another asset. The fixed value, in theory, is a ballast against dramatic day-to-day fluctuations like those seen in other cryptos like bitcoin (BTC-USD) and ethereum ( Source link

A top Treasury official on Tuesday is expected to make the case to Congress that there are gaps in the framework for stablecoins, should they become widely used by households and businesses. As lawmakers and the White House weigh oversight of the booming cryptocurrency sector, regulators and policymakers need to monitor stablecoins closely, according to Nellie Liang, Undersecretary for Domestic Finance. Liang is testifying before the House Financial Services Committee as the sole witness on… Source link

Over the last year, the narrative surrounding central bank digital currencies (CBDCs) has advanced considerably. From an almost entirely conceptual discussion, CBDCs are now in various stages of research and development to ascertain how they could work in practice. China’s digital yuan is currently leading the pack. Following several pilots, the Chinese government is expected to roll out its CBDC to a population of over a billion people in 2022. While no other country has yet reached the… Source link

Federal Reserve Chairman Jerome Powell told Congress this week that he would like to see a corner of digital currencies more tightly regulated. “If [stablecoins] are going to be a significant part of the payments universe — which we don’t think crypto assets will be, but stablecoins might be — then we need an appropriate regulatory framework, which frankly we don’t have,” Powell told the House Financial Services Committee on Wednesday. To get around the stigma of cryptocurrencies being… Source link

While 2020 has been a very difficult year, it has, ironically, been a catalyst year for fintech and crypto. And there are no signs of the momentum slowing down in 2021! Henri Arslanian is Global Crypto Leader, PwC and an Adjunct Professor, University of Hong Kong. Here are my 10 crypto predictions for the coming year: 1. China leading the CBDC and future of money race As we predicted last year, 2020 was a banner year for central bank digital currencies (CBDCs). With 80% of central banks active on… Source link