Hong Kong’s stablecoins ordinance, which took effect on Friday, puts cryptocurrency’s most-traded cash substitute under the same regulatory framework as banks, triggering a rush for a limited number of licences from the Hong Kong Monetary Authority (HKMA). Some market observers were caught by surprise after learning that the first batch of stablecoin licences was only
Did Republicans and Democrats just join forces to put our economy on the path toward crisis? That’s exactly what Mark Copelovitch, a professor of political science and public affairs at the University of Wisconsin-Madison–as well as the author of multiple books about banking–is worried about. In an essay published Thursday in Barron’s, Copelovitch raises alarm
Dakota, a crypto-integrated banking platform for businesses, has raised $12.5 million in a Series A round to expand its borderless banking services, the firm said on Tuesday. The investment was led by CoinFund, with participation from 6th Man Ventures and Triton Ventures. The announcement comes at a time when stablecoins, or cryptocurrencies tied to an
Firms including crypto payments group Ripple, stablecoin company Circle, and custodian BitGo have applied for national trust bank charters that would allow them to offer select banking services read more Cryptocurrency companies are accelerating efforts to enter traditional banking in the United States, capitalising on what they see as a more favourable regulatory climate under
In a development that has again raised red flags over United States President Donald Trump’s conflict of interest in the cryptocurrency space, Bloomberg reported that Binance aided in the creation and promotion of the USD1 token for World Liberty Financial, before its founder sought pardon. According to sources cited by Bloomberg, the world’s largest crypto
As bitcoin pushed past all-time highs and other cryptocurrencies surged, the rise in stablecoin supply is offering a signal that this rally may have deeper roots. Tether’s USDT and Circle’s USDC, the two largest dollar-pegged stablecoins, each reached new record supplies this week, according to TradingView data. Since the start of July, USDC’s market cap
The concept of using stablecoins in the financial system getty Stablecoins have come a long way in decentralized finance. In 2020, DEX liquidity was mostly in ETH and wrapped BTC. Today over 70% of trading pairs and lending pool deposits are denominated in fiat-pegged stablecoins, with USDC and USDT leading the pact. It seems that
A money manager to some of Hong Kong’s richest individuals will start investing in cryptocurrency, as more favourable regulations attract a wider array of investors to the digital-asset sector. VMS Group, a multifamily office with just under US$4 billion in assets under management, plans to allocate up to US$10 million to strategies run by decentralised-finance
Family affair: President Trump teamed up with his sons Barron (left), Don Jr. (middle) and Eric (right) to launch World Liberty Financial, a crypto venture that has brought in more than a half billion dollars. Photo by Kevin Lamarque – Pool/Getty Images One of Donald Trump’s companies reduced its stake in World Liberty Financial, a
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