DFC

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From unknown wallet to unknown wallet
From unknown wallet to unknown wallet
"How long will regulators allow pseudonymous usage of stablecoins to continue? FATF regulations are supposed to be technology-neutral. So far FATF hasn't had much to say on stablecoins. But you can be sure that something is in the works, and it isn't likely to be good for stablecoin operators. The problem is that granting permissioned-pseudonymity to stablecoin operators contradict technology-neutrality. It sets one set of standards for bank accounts and another for stablecoins."
#Fintech#CryptoAssets#Stablecoins#AMLCFT#DFC
·jpkoning.blogspot.com·
From unknown wallet to unknown wallet
DAI Is Moving Beyond Ether, But DeFi Isn't Decentralized Just Yet
DAI Is Moving Beyond Ether, But DeFi Isn't Decentralized Just Yet
MakerDAO has launched the multi-collateral version of its DAI stablecoin. But despite the rapid growth of the sector and the diversification of assets involved, DeFi is still influenced by a handful of central players: Namely, Polychain Capital, a16z, 1confirmation, and unknown MKR whales. With governance decisions largely influenced by those with the largest stakes to lose, some crypto veterans are pushing for a closer examination of MakerDAO's marketing directives.
#Fintech#CryptoAssets#Stablecoins#MakerDAI#MakerDAO#DFC
·coindesk.com·
DAI Is Moving Beyond Ether, But DeFi Isn't Decentralized Just Yet
What’s MakerDAO and what’s going on with it? Explained with pictures
What’s MakerDAO and what’s going on with it? Explained with pictures
MakerDAO is a protocol behind the stable coin DAI — a cryptocurrency that maintains a 1:1 peg to the USD. Think of 1 DAI as $1. What makes it unique is each DAI is backed by Ether instead of a 3rd party claiming to have the required collateral. Since Ether is volatile this poses some interesting challenges to maintain the peg.
#Fintech#CryptoAssets#Stablecoins#MakerDAO#DAI#DFC
·hackernoon.com·
What’s MakerDAO and what’s going on with it? Explained with pictures
This digital currency could build a more sustainable global economy
This digital currency could build a more sustainable global economy
To reduce the risk of any single stablecoin becoming systemically dominant (and simply replacing a fiat hegemon with a digital one), there should be an emphasis on interoperability and frictionless exchange across blockchains. Blockchain interoperability can increase economic and transactional scalability, speed and security.
#Stablecoins#CryptoAssets#Fintech#DFC
·weforum.org·
This digital currency could build a more sustainable global economy
Stablecoins | Stable Report
Stablecoins | Stable Report
Here's a comprehensive list of all 235 stablecoin projects launched so far. "Launched" is an important distinction because the list includes closed projects (e.g., Basis). It also includes commodity-backed stablecoins (mostly gold) and private coins.
#Fintech#CryptoAssets#Stablecoins#DFC
·stable.report·
Stablecoins | Stable Report
Clifford Chance | Stablecoins - a global overview of regulatory requirements in Asia Pacific, Europe, the UAE and the US
Clifford Chance | Stablecoins - a global overview of regulatory requirements in Asia Pacific, Europe, the UAE and the US
"As digital assets transcend national borders, what does this mean for those interested in issuing or participating in a stablecoin project? What are the regulatory questions and other challenges that need to be considered? We take a look at the global picture in this comprehensive analysis."
#Fintech#CryptoAssets#Stablecoins#Regulation#DFC
·cliffordchance.com·
Clifford Chance | Stablecoins - a global overview of regulatory requirements in Asia Pacific, Europe, the UAE and the US
LIFElabs.io
LIFElabs.io
LIFEtoken is a digital currency on the Ethereum Blockchain. LIFElabs is building an ecosystem for digital currencies to be accessible to all but also a multifaceted platform for social organisations to adopt Blockchain technology to support their own projects.
#Fintech#Stablecoins#Ethereum#Blockchain#CryptoAssets#DFC
·lifelabs.io·
LIFElabs.io
Paxful is the Most Important Bitcoin Company You Aren’t Paying Attention to.
Paxful is the Most Important Bitcoin Company You Aren’t Paying Attention to.
In effect, gift cards can be seen as a sort of stablecoin which are available for purchase on nearly every street corner in the world. Additionally, as you will find out later in the article, the people using these gift cards as stablecoins often don’t even need to know what a stablecoin is or how cryptocurrency works.
#CryptoAssets#CrossBorder#Stablecoins#GiftCards#Fintech#DFC
·medium.com·
Paxful is the Most Important Bitcoin Company You Aren’t Paying Attention to.
Treating stablecoins like ETFs
Treating stablecoins like ETFs
We’ve often argued that a stablecoin is nothing more than a glorified exchange traded fund (ETF). So when it comes to the fuss about how to regulate stablecoins like Libra, is it possible that most of the hard work has already been done on account of the regulatory environment that governs ETFs?
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·ftalphaville.ft.com·
Treating stablecoins like ETFs
Saga launches SGA token to rival Facebook's libra cryptocurrency
Saga launches SGA token to rival Facebook's libra cryptocurrency
Saga is launching a virtual currency which pegs its value to the basket of currencies that form the IMF’s special drawing rights. The U.K.-based company’s advisory board includes the likes of Nobel laureate Myron Scholes and J.P. Morgan’s Jacob Frenkel. But the firm doesn’t plan to launch its token in the U.S. yet, claiming it doesn’t currently have the regulatory clarity required to do so.
#Saga#CryptoAssets#Stablecoins#Fintech#DFC
·cnbc.com·
Saga launches SGA token to rival Facebook's libra cryptocurrency
The Libra White Paper Has Been Edited, With One Notable Change
The Libra White Paper Has Been Edited, With One Notable Change
Under the original Libra white paper, Libra Association members would receive dividends for profits generated by reserve assets, which created an incentive for decisionmakers to invest in risky assets for higher returns, at the expense of the retail public. However, in the new version of the white paper, interest earned from reserve assets will not be used to pay dividends to investors.
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·fintechpolicy.org·
The Libra White Paper Has Been Edited, With One Notable Change
New York’s problem with Tether — as set out for the appeal judges
New York’s problem with Tether — as set out for the appeal judges
A New York Supreme Court Appellate Division filing claims that Bitfinex and Tether (which share executives and shareholders) had gradually been depleting the reserves backing Tether's USDT stablecoin, by first by going from actual cash in hand to $625 million in an inaccessible Crypto Capital account, and then by replacing that with a $625 million IOU from Bitfinex. That debt, said the NYAG, “seemed unlikely to be repaid,” as Bitfinex required the funds for withdrawals on its exchange.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·davidgerard.co.uk·
New York’s problem with Tether — as set out for the appeal judges
Lessons From the First Digital Gold Boom
Lessons From the First Digital Gold Boom
Libra is actually a revamped version of a much older payments model. In 1996, Douglas Jackson, an oncologist and fan of the gold standard, founded a payments system called e-gold. Backed one-to-one by reserves of the yellow metal, the e-gold system allowed users all around the world to make instant private electronic payments. Unfortunately, e-gold ran into problems with regulators...
#Facebook#Stablecoins#Fintech#CryptoAssets#Libra#DFC
·coindesk.com·
Lessons From the First Digital Gold Boom
The impact of Tether grants on Bitcoin
The impact of Tether grants on Bitcoin
In recent years, Tether issuances have increased significantly, which correlated broadly with a significant rise in Bitcoin valuation. This paper examines the impact of cryptocurrency issuances on subsequent cryptocurrency returns. It is argued that as Tether is the undisputed ‘stable coin’, the minting of new Tether acts similarly to monetary expansion in cryptocurrency markets, inflating the prices of Bitcoin. We construct a VAR model and show contrary to investor expectations, Tether issuances do not impact subsequent Bitcoin returns, however, they do impact traded volumes. We also document an increase in Tether trading following a subsequent decrease in Bitcoin returns.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitcoin#DFC
·sciencedirect.com·
The impact of Tether grants on Bitcoin
Carbon launches the first stablecoin on Hedera Network
Carbon launches the first stablecoin on Hedera Network
"CarbonUSD, or CUSD for short, is a compliant fiat-backed stablecoin where users can deposit and withdrawal real USD. To mint new CUSD tokens, users can make fiat deposits via ACH or Wire Transfer with our financial partner, Nevada-based Prime Trust. Frequent third-party attestations by leading auditor Cohen & Co. verify publicly that each token is backed 1-to-1 by escrowed funds in FDIC-insured accounts with Prime Trust’s banking partners."
#Fintech#CryptoAssets#Stablecoins#Hashgraph#Carbon#Hedera#DFC
·hedera.com·
Carbon launches the first stablecoin on Hedera Network
IMF Chief Economist: Digital currencies will not displace the dominant dollar
IMF Chief Economist: Digital currencies will not displace the dominant dollar
"Despite high hopes, it is difficult to see how technology can hasten the creation of a “synthetic hegemonic currency”. Trade and financial contracts continue to be denominated overwhelmingly in a single currency, rather than a basket of currencies. For such a public synthetic alternative to work, central banks, whose currencies underlay it, would have to co-ordinate to ensure its stability and reduce perceived risks. But global needs can conflict with monetary policy objectives at home, significantly reducing the attraction for leading reserve currencies to participate."
#Fintech#CryptoAssets#Stablecoins#PaymentSystems#DFC
·ft.com·
IMF Chief Economist: Digital currencies will not displace the dominant dollar
Banking, Trade, and the making of a Dominant Currency
Banking, Trade, and the making of a Dominant Currency
"We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency’s role as a unit of account for invoicing decisions is complementary to its role as a safe store of value; 2) this complementarity can lead to the emergence of a single dominant currency in trade invoicing and global banking, even when multiple large candidate countries share similar economic fundamentals; 3) firms in emerging-market countries endogenously take on currency mismatches by borrowing in the dominant currency; 4) the expected return on dominant-currency safe assets is lower than that on similarly safe assets denominated in other currencies, thereby bestowing an “exorbitant privilege” on the dominant currency. The theory thus provides a unified explanation for why a dominant currency is so heavily used in both trade invoicing and in global finance."
#Fintech#PaymentSystems#Safety#Stablecoins#DFC
·nber.org·
Banking, Trade, and the making of a Dominant Currency
Dominant Currency Paradigm | Gita Gopinath
Dominant Currency Paradigm | Gita Gopinath
"Most trade is invoiced in very few currencies. Yet, standard models assume prices are set in either the producer’s or destination’s currency. We present instead a ‘dominant currency paradigm’ with three key features: pricing in a dominant currency, pricing complementarities, and imported input use in production. "
#Fintech#PaymentSystems#Safety#Stablecoins#DFC
·scholar.harvard.edu·
Dominant Currency Paradigm | Gita Gopinath
Digital money: Implications for emerging market and developing economies
Digital money: Implications for emerging market and developing economies
Proposals for global stablecoins have put a welcome spotlight on deficiencies in financial inclusion and cross-border payments and remittances to emerging market and developing economies. This column, part of the Vox debate on digital currencies, argues however that stablecoin initiatives are no panacea. Moreover, they pose particular development, macroeconomic and cross-border challenges for emerging market and developing economies. It remains to be seen whether stablecoins can offer a decisive comparative advantage over fast-moving fintech innovations in these countries that are built on or improve the existing financial plumbing.
#CryptoAssets#Facebook#Stablecoins#Fintech#Libra#DFC
·voxeu.org·
Digital money: Implications for emerging market and developing economies