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Stablecoins
BofA: Crypto Exchange Binance to Benefit From Increased Supply of BUSD Stablecoin
Crypto exchange Binance’s decision to convert all users' investments in stablecoins USD coin (USDC), trueUSD (TUSD) and pax dollar (USDP) into its native binance USD (BUSD) may generate limited additional revenue in the short term, but could have larger implications in the long term, Bank of America reported. "The Hash" hosts discuss what this means for the state of the stablecoin markets.
Why Binance Isn't Converting Tether to BUSD
Binance is converting all investments in USDC, pax dollar (USDP) and trueUSD (TUSD) into its stablecoin Binance USD (BUSD) on Sept. 29. Patrick Hillmann of Binance discusses the change and why Tether won't be moved.
Crypto Exchange Binance to Benefit From Increased Supply of Its Own Stablecoin, BofA Says
The automatic conversion of other stablecoins could increase the supply of binance USD by $908 million, the bank said.
US Treasury to Recommend Issuing Digital Dollar if in National Interest: Source
The Treasury Department, in what may be its most important recommendation spurred by President Joe Biden’s executive order on crypto, will suggest how to move forward on a CBDC.
Why Crypto Isn't a Tool for Protest in Argentina
The idea that growing stablecoin use can offer a solution to Argentina's persistent economic and political problems doesn't accord with reality, says Leah Callon-Butler after a recent visit.
Fed Vice Chair Brainard Calls for Crypto-Specific Regulations, Notes Stablecoin Risks
While crypto "has all the same risks that we’re very familiar with from traditional finance,” its quirks need tailored solutions, Lael Brainard said.
A Stablecoin Law May Not Happen This Year
It’s looking less likely that we’ll get stablecoin legislation in the U.S. this year.
US Bank Watchdog Says He’s Not Budging on Crypto Distrust
Michael Hsu, acting chief of the Office of the Comptroller of the Currency, is sticking to his guns on keeping most crypto activity out of the U.S. banking system.
Russia Reportedly Exploring Stablecoin Settlements; Poolin Suspends Withdrawals From Wallet Service
Russia is talking to several friendly countries about launching clearing platforms for cross-border settlements in stablecoins, according to a report from Russian news agency Tass. Bitcoin mining pool PoolinWallet is suspending all withdrawals as it tries to preserve assets and stabilize liquidity. Bitcoin may see another meteoric rally once the dormant supply metric has peaked.
