UK government moves forward with regulatory framework on stablecoins for paym...
“If crypto technologies are going to be a big part of the future, then we, the U.K., want to be in — and in on the ground floor,” said Economic Secretary of the Treasury John Glen. The United Kingdom's Economic and Finance Ministry has said it intends to amend its existing regulatory framework to incorporate stablecoins used as a means of payment.In a Monday announcement, HM Treasury said certain stablecoins could potentially become “a widespread means of payment” for retail customers in the United Kingdom following a consultation with various organizations, universities and individuals....
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US federal regulators are set to review state regulations of stablecoins to “even out” rules across jurisdictions under the new federal regulatory framework for the sector, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. Related Reading: South Korea Set To Unveil New Stablecoins Framework In October State-Level Stablecoin Rules To Face Federal […]
United States Attorney General (AG) William Barr says the recent publishing of the Cryptocurrency Enforcement Framework will help law enforcement to fight elements using digital currencies for illicit ends. Produced by the AG’s Cyber-Digital Task Force, the framework provides law enforcement with what Barr terms a “comprehensive overview of the emerging threats and enforcement challenges associated with the increasing prevalence and use of cryptocurrency.” The publishing of the framework comes as U.S. regulators have been ratcheting up pressure with Bitmex executives and....
The SEC’s “crypto mom” Hester Peirce has said the regulatory “movement” around stablecoins needs to allow for “trial and error” and room for failure. Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows "room for there to be failure."Speaking at an online panel on May 12 hosted by financial think-tank the Official Monetary and Financial Institutions Forum (OMFIF) Peirce, who has long been an advocate for crypto, was asked to shed light on the actions being taken by U.S.....
Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekStarbucks announces NFT initiative as union-busting controversy continues Nonfungible tokens continue making headlines, with coffee giant Starbucks having recently signaled its intent on joining the NFT party. Sometime before the end of this calendar year, we are going to be in the NFT business, said Starbucks CEO....
According to Bloomberg, Japan’s parliament enacted a legislative framework surrounding stablecoins pegged to the yen or another fiat currency on Friday. This is a historic move. The bill makes it clear that stablecoins are digital money. They must be linked to a legal tender, like the yen, so that people can redeem them for their […]