Stablecoins hk
But Tether had gotten so large that it threatened to put the U. It was as if a playground snowball fight had escalated so wildly that the Joint Chiefs of Staff were being called in to avert a nuclear war. The company that issues the currency, Tether Holdings Ltd. Once they have Tethers, people can send them to cryptocurrency exchanges and use them to bet on the price of Bitcoin, Ether, or any of the thousands of other coins. And at least in theory, Tether Holdings holds on to the dollars so it can return them to anyone who wants to send in their tokens and get their money back.
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- Build a custom email digest by following topics, people, and firms published on JD Supra.
- Discussion Paper on Crypto-assets and Stablecoins
- A Dynamic Model of Stablecoin and Crypto Shadow Banking
- Central bank digital currency: the future starts today
- What Is a Stablecoin?
- Digital Finance
- What are Stablecoins?
- Tether - What I Love, Hate, and Fear About the Cryptocurrency
- Find HKC, the Hong Kong dollar stablecoin, only on Okcoin
- Trade Crypto for Less Coin
Build a custom email digest by following topics, people, and firms published on JD Supra.
The Hong Kong Monetary Authority HKMA released on Wednesday a " Discussion Paper " in which it lays out its thinking on the regulatory approach for crypto assets, particularly payment-related stablecoins. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. Greg Ahlstrand. Greg has no significant crypto holdings. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.
To facilitate the stakeholders in sharing their views, the HKMA has highlighted certain issues in the form of questions and answers in the paper. The paper is available on the HKMA website. Follow GregAhl on Twitter.
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Discussion Paper on Crypto-assets and Stablecoins
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A Dynamic Model of Stablecoin and Crypto Shadow Banking
HM Treasury has published a consultation on the future regulatory landscape as it will apply to cryptoasset issuers and firms providing cryptoasset services. The consultation does not have any legal effect, but it does set out in broad strokes the direction of future cryptoasset regulation in the UK. In particular, the proposals do not set out detail on the precise requirements that issuers and service providers will be expected to meet. Instead, they are concerned with the expansion of the scope of the regulatory perimeter to include first stablecoins and, in the future, other unregulated cryptoassets. The primary concern of HMT is to "ensure that tokens which could be reliably used for retail or wholesale transactions are subject to minimum requirements and protections as part of a UK authorisation regime". As a result, the proposals are primarily focused on stablecoins which reference an underlying asset or assets, such as a single fiat currency or a group of investment assets, as HMT considers them to be the most stable types of cryptoassets. Where tokens are also considered to be e-money tokens, then they may fall within scope of both the new regulatory regime and the EMRs. The proposals also consider the systematic use of stablecoin payment systems in a way that functions essentially as a currency. HMT suggest that such tokens may be required to comply the same Bank of England regulatory requirements as GBP, which it is subject to as our national currency. However, these considerations are vague, since no such systematic adoption seems likely in the near future.
Central bank digital currency: the future starts today
The Hong Kong Monetary Authority HKMA released on Wednesday a " Discussion Paper " in which it lays out its thinking on the regulatory approach for crypto assets, particularly payment-related stablecoins. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period.
What Is a Stablecoin?
TAIPEI Taiwan News — While Taiwan is not known as a crypto hub, Tether kept part of its fortune stashed in banks on the island for some time — until its relationship with a financial institution acting as a bridge between East and West soured. Bloomberg reported Monday July 28 that U. Department of Justice officials are probing the company behind the stablecoin Tether to see if it misled banks about the true nature of its business. Stablecoins like Tether are digital assets that are pegged to a real-world currency like the U. Given the volatility of the cryptocurrency market, stablecoins are seen as a safe haven for assets during stormy seasons or as a way to remit capital to someone abroad without dealing with market fluctuations.
Digital Finance
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What are Stablecoins?
This information is content from White Paper v2. Features of the project as implemented may differ based on regulatory approvals or other considerations, and may evolve over time. Since June , we have met with many different organizations, regulators, policymakers, and academics to understand key concerns and integrate actionable improvements into the economic design of the Libra network.
Tether - What I Love, Hate, and Fear About the Cryptocurrency
See More. Letter notes lessons learnt from the COVID Event and actions to address structural challenges facing the global financial system. This report describes progress over the past year and planned work by the FSB, as well as by standard-setting bodies and other international organisations, to enhance the resilience of non-bank financial intermediation. The FSB roadmap sets out a plan for addressing climate-related financial risks, including steps and timeframes needed to do so, and paves the way for implementation. FSB publishes papers and accompanying request for feedback on practices regarding funding in resolution and internal financial and operational interconnectedness in insurers. This report presents a framework and policy toolkit for addressing vulnerabilities in money market funds.
Find HKC, the Hong Kong dollar stablecoin, only on Okcoin
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Trade Crypto for Less Coin
A representation of the virtual cryptocurrency Ethereum is seen among representations of other cryptocurrencies in this picture illustration taken June 14, HONG KONG, Jan 12 Reuters - Hong Kong's de facto central bank invited comment on Wednesday about ways to regulate crypto assets and stablecoins, with the aim of adopting a regulatory framework by in which the policy spectrum could range from no action to a blanket ban. The rapid growth of cryptocurrencies and, in particular, stablecoins, or digital assets pegged to traditional currencies, has drawn attention from regulators worldwide, who fear they could put the financial system at risk if not monitored.
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