Wyoming is reportedly developing its own U.S. dollar-backed stablecoin to be used for consumer payments. The state plans to launch the Wyoming Stable Token in the first quarter of 2025, CNBC reported Friday (Aug. 23). “It is clear to me that digital assets are going to have a future,” Wyoming Governor Mark Gordon told CNBC
Russia is reportedly exploring the establishment of two crypto exchanges to facilitate foreign economic activities, local media outlet Kommersant reported on Aug. 23. The proposed exchanges will be located in Moscow and St. Petersburg, serving as hubs for international trade. Mikhail Uspensky, a member of the State Duma’s legislative committee on crypto regulation, stated that
When PayPal joined the stablecoin wars in August 2023 with its dollar-backed PYUSD, the crypto industry celebrated the entrance of a TradFi company into a competitive arena dominated by crypto-native firms Tether and Circle. But a year after its launch, PYUSD is still lagging behind its competitors with a market capitalization of less than $1
Hong Kong is competing with financial centres around the world to establish itself as a hub for cryptocurrency business. To achieve this requires allowing multiple forms of cryptocurrency tools as well as the appropriate regulatory framework to help manage the risk of monetary and financial instability. To that end, a regulatory regime for stablecoins has
As the crypto industry continues its calls for regulatory clarity, a glaring question has been whether stablecoins, typically digital assets pegged to and backed by the U.S. dollar, should be treated as securities. Now, a decision by the Securities and Exchange Commission to quietly end a probe into the New York stablecoin issuer Paxos suggests
Circle has attained an Electronic Money Institution (EMI) license from the French banking authority, thereby achieving compliance with the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulatory framework. With this license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), Circle’s French entity is now issuing USDC and EURC stablecoins in compliance with MiCA’s regulatory obligations for stablecoins or eMoney
The crypto market is in the red amid significant bloodshed from bitcoin (BTC) and altcoins. There is currently no bullish momentum, and BTC is hovering around key levels, falling below traders’ on-chain realized price of $65,800. Regardless, CryptoQuant analysts insist in a recent report that the market is in a bull season. Lack of Bullish
In the years since the industry’s founding, cryptocurrency startups have pulled in around $100 billion. That’s according to a report Saturday (June 15) by Bloomberg News, citing data from two sources: DeFiLlama which pegs the crypto sector’s total fundraising at $101 billion since 2014, and The Block Research, which has logged $95 billion in investment
As a long-time crypto skeptic, it may seem odd that I am helping organize a digital assets conference at Duke University on Jan. 20-21. After all, I once wrote a Wall Street Journal op-ed calling for a cryptocurrency ban. While I continue to believe that unbacked cryptocurrencies, like bitcoin, provide no economic utility and impose
The TDR Three Key Takeaways regarding Fortune 500 Companies and Cryptocurrency: Fortune 500 companies experience a 39% increase in blockchain initiatives. PayPal and Stripe leverage stablecoins and cryptocurrency for efficient cross-border payments. Clear crypto regulations are essential for US economic leadership, according to the report. The increasing integration of blockchain and cryptocurrency projects by America’s