Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
The company proudly announced that it stands among the pioneering major payment institutions to directly employ the Solana network for its settlement processes.
The introduction of the Enhanced Dai Savings Rate has managed to partially counteract the decline in the token's market value that had been observed.
The Centre Consortium, co-operatively overseen by Circle and Coinbase, is currently in the process of being closed down. Consequently, Circle will be taking over the internal management of issuance and governance for the USDC stablecoin.
John Rizzo explains that in light of the fintech giant's PYUSD announcement, Democratic policymakers are undergoing a reconsideration of their position on stablecoins. Let's delve into the reasons behind this shift.
In the long run, the bank envisions a heightened level of competition targeting the token.
The leading Democratic representative on the House Financial Services Committee emphasized the necessity of establishing federal regulations prior to a company of PayPal's magnitude launching a stablecoin.
The payments behemoth has been open about its necessity to halt and confiscate cryptocurrency accounts that breach its terms of service. However, does this truly qualify as genuine cryptocurrency involvement?
'The difference is significant because we have a prudential regulator,' said Paxos head of strategy Walter Hessert.
The circulation of Maker's DAI stablecoin has decreased by 33% in the past year