Topic: Stablecoin

EU agrees MiCA framework

The EU’s legislative bodies have reached agreement on the bloc’s regulatory framework for markets in crypto assets, placing stablecoins under EBA supervision and requiring their issuers to be EU-domiciled.

04 July 2022

New York regulator issues stablecoin reserve guidance

New York’s state financial regulator has specified standards for stablecoin reserves, in the first guidance to be released in the US since the Luna-Terra crash.

10 June 2022

Less than half of Australian banks assessing emissions, APRA’s Byres says

The head of Australia’s prudential regulator has criticised banks for not keeping to climate guidance, as the country elects new leadership in what was dubbed the “climate election”.

01 June 2022

“A real-life demonstration of the risks”: regulators and practitioners react to stablecoin stutter

Regulators and practitioners across the world have voiced expectations of an accelerated regulatory framework for stablecoins, after a turbulent week for cryptocurrencies that saw Bitcoin lose a fifth of its value.

18 May 2022

"Tech neutral" but "risk aware": Yellen outlines thoughts on crypto regulation

US Treasury Secretary Janet Yellen has called for “tech-neutral” regulation in the cryptocurrency space that acknowledges the associated risks, as the Federal Deposit Insurance Corporation calls on US banks to notify it when engaging in crypto-related activities.

11 April 2022

Crypto assets a threat to global stability, FSB says

Crypto-assets’ too-rapid evolution may threaten global financial stability, according to a new warning issued by the Financial Stability Board (FSB), the same day as 18 crypto companies join together to propose an “industry-driven solution” for crypto to comply with FATF standards.

17 February 2022

O’Melveny and Skadden advising on Facebook’s Diem “wind-down”

Facebook’s digital currency project Diem – formerly known as Libra – is “winding down” its operations with the sale of key assets, ending a years-long project that drew close scrutiny from regulators worldwide.

02 February 2022

Hong Kong regulator mulls tighter rules for stablecoins

The Hong Kong Monetary Authority has joined the chorus of global regulators and central banks proposing to regulate stablecoin issuers like banks, a movement analysts have called an “extremely high bar” for the assets to meet.

14 January 2022

Fed governor casts doubt on plans for stablecoin regulation

Federal Reserve governor Christopher Waller has claimed that stablecoins should be left unfettered of traditional regulation, despite growing industry calls for treating stablecoin issuers like banks.

18 November 2021

Regulate stablecoins as banks, US Treasury body says

The US Treasury’s regulatory working group has called on Congress to “urgently” introduce legislation to regulate stablecoins as banks, in an effort to manage what it deems their “significant and growing risks”.

03 November 2021

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