Markets rallied on the news but their overall future remains in limbo with inflation running hot and rate hikes on the horizon
Legacy policy might get in the way of a progressive, sound crypto framework, leaving the market to seek stablecoins that approximate a dollar-proxy.
Issuer of SGD stablecoin, XSGD, is bullish on the market for stablecoins not pegged to the US dollar.
Bloomberg reported that the US Treasury Department and other government agencies are expected to publish a report this week explaining the SEC’s authority over stablecoins
A central bank digital currency would replace the functions of stablecoins, but he has no intention of banning digital assets, Powell said Thursday.
In less than a year, Celsius has grown its assets under management from $1 billion to over $20 billion.
The Federal Reserve may start to taper asset purchases this year and officials discussed the risk of stablecoins, July’s FOMC meeting minutes show.
Stablecoins have gained more capital than US municipal bond funds so far this year, catching regulators’ attention