Stablecoins
Republican Congressman Demands Clarity From the SEC on Crypto Regulation
Rep. Patrick McHenry (R-N.C.), ranking member of the House Financial Services Committee, has been pushing for regulatory clarity on digital assets since March.
SEC Subpoenas USDC Stablecoin Backer Circle
Circle, a key supporter of the USDC stablecoin, revealed in a regulatory filing that it received an “investigative subpoena” from the SEC’s Enforcement Division in July, potentially about the assets backing USDC. “The Hash” team discusses the latest escalation by SEC Chairman Gary Gensler’s signaling federal scrutiny of crypto is on the rise.
Stablecoin Issuers Could Soon Face Bank-Like Regulations
The Treasury Department’s highly anticipated report on stablecoins is expected to be released in late October.
Société Générale Applies for $20M MakerDAO Loan Using Bond Token Collateral
In a proposal Thursday on MakerDAO's governance forums, French multinational banking giant Société Générale (SocGen) applied for the DeFi lending platform to accept on-chain bond tokens issued by the bank as collateral for a stablecoin DAI loan for up to $20 million. "The Hash" panel discusses the historic step towards institutional adoption of DeFi.
Circle Names Devron Brown, Former US House Senior Counsel for Fintech, as Director for Global Policy
Brown worked as a lawyer in Congress in 2020.
Fed Chair Powell Says He Has ‘No Intention’ of Banning Crypto
When asked about earlier comments he had made about CBDCs replacing private crypto, Powell said he’d “misspoken.”
Visa Working on Interoperability Platform for Stablecoins and CBDCs
Payments behemoth Visa has proposed a platform to enable interoperability between central bank digital currencies (CBDCs) and other stablecoins. The “universal payments channel” (UPC) aims to allow the cryptocurrencies to be transferred between different blockchain networks.
Why Is Bitcoin Bouncing?
Bitcoin has gained 6.26% to trade near $44,000 one day after exhibiting bearish price action, but why is it bouncing? Senior Trader and President of Wave Financial, Justin Chuh, discusses his crypto markets analysis and outlook.
Pro-Crypto Senator Lummis Says Stablecoins Should Be Audited
A full audit would be more rigorous than the attestations the coins’ two top issuers have produced.
