Category: Stablecoins

Congressman takes aim at peers who think crypto could cause a ‘financial 9/11’

Congressman takes aim at peers who think crypto could cause a ‘financial 9/11’

Characterizing his contemporaries as viewing the crypto sector as a “financial 9/11,” Congressman Ted Budd has warned lawmakers against driving blockchain innovation offshore. 2598 Total views 10 Total shares Representative Ted Budd of North Carolina, a member of the House Financial Services Committee and Congressional Blockchain Caucus, has urged lawmakers to embrace decentralized innovation. In […]

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Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency

Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency

Tether is still under regulatory pressure with eyes now cast towards its commercial paper reserves. 2127 Total views 6 Total shares The firm behind the world’s leading stablecoin, Tether, is facing more regulatory pressure this week with U.S. financial watchdogs scrutinizing the composition of its reserves. According to a July 27 Bloomberg report the Acting […]

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Auditors reveal USDC backing as Jim Cramer sounds alarm over Tether’s mad money

Auditors reveal USDC backing as Jim Cramer sounds alarm over Tether’s mad money

Auditors working for Circle have disclosed the reserves backing the firm’s USDC stablecoin, while Mad Money’s Jim Cramer has questioned Tether’s lack of transparency with its USDT reserves. Multi-national tax advisory firm Grant Horton conducted the audit, and a reserve attestation report was published on July 20 which showed that 61% of USDC’s reserves were […]

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Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months. 2800 Total views 5 Total shares United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins. The comments came at Monday’s meeting of the […]

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Federal Reserve official: Stablecoin growth is ‘exponential,’ deserves ‘attention’

Federal Reserve official: Stablecoin growth is ‘exponential,’ deserves ‘attention’

Boston Federal Reserve President Eric Rosengren notes that Tether could be a “disruptor” to short term credit markets. 7165 Total views 9 Total shares While a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked at the idea of regulation and oversight, the central bank might simply be pondering […]

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