The U.K. government is focusing on stablecoins for the next phase of its development of crypto regulations.
Volume on eight trusted exchanges used by CoinDesk hit $239.98 billion in Q4 2020, up from $90.08 billion in the prior quarter.
Digital asset custodian Anchorage has hired its first Head of Risk.
Record trading volumes have accompanied bitcoin’s rally this year, and subsequent swoon, offering a healthy sign of just how much price discovery is taking place in rapidly growing (to $3T?) cryptocurrency markets.
Grayscale’s ether and XRP trusts are still closed to new investors.
“If PayPal and Square can do it, then community banks should be able to do it too,” said Moven founder Brett King.
The $5 million grant will go towards funding the day-to-day operations of Filestar’s foundation.
Quick Take
- A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law.
- Our two-part series will examine the STABLE Act Discussion Draft, those endorsing the potential legislation, reactions from the digital assets community, what the bill could mean for node operators, and more.
- This piece, Part I, provides background on the environment leading up to the STABLE Act proposal, digs into the backgrounds of those that support it and their primary motivations, reviews the bill’s proposed requirements for stablecoin issuers and the potential penalities that they could face from regulators.
Crypto companies complain about FinCEN’s new “unhosted wallets” proposal. But the rules aren’t unreasonable, says our columnist.
Quick Take
- Coinbase’s App rose by over 1,400% in ranks in the US App and Google Play Store from October 2020 to January 2021.
- For now, retail investor interest seems to be confined to Bitcoin and Ethereum via established on-ramps.
- It remains to be seen whether interest will extend to more technical fields such as DeFi in the near future.
