Tag: Stablecoins

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PayPal USD Stablecoin Now Available on Solana Blockchain

PayPal today announced that its PayPal USD (PYUSD) stablecoin now runs on Solana. In a Wednesday announcement, the payments platform said that the move would bring “significant benefits for commerce use cases.” Solana is the blockchain network behind the fifth biggest cryptocurrency by market cap, SOL. It aims to compete with Ethereum by providing a […]
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UK to Issue New Crypto, Stablecoin Legislation by July, Minister Says

The UK’s Finance Minister has revealed the government’s intention to establish a regulatory framework for cryptoassets by the end of July. Prime Minister Rishi Sunak, during his tenure as the nation’s finance minister, expressed the ambition to position the UK as a global center for cryptocurrencies. Economic Secretary to The Treasury, Bim Afolami, confirmed that […]
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China to intensify crackdown on stablecoins to thwart illegal forex trading

In a bid to intensify the crackdown on crypto, China is calling for strict measures against illegal foreign exchange trading involving USDT. China is seemingly preparing to double down on its crypto crackdown, with the Supreme People’s Procuratorate (SPP) and State Administration of Foreign Exchange (SAFE) highlighting criminal cases involving the USDT stablecoin in a recent statement, according […]
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Raft Suffers $3.3M Exploit That Drove Down Stablecoin 50%

Decentralized finance (DeFi) platform Raft lost some $3.3 million in ether (ETH) after being hacked Friday afternoon – but the attacker may have suffered a loss on the heist. On-chain data shows that the attacker drained 1,577 ETH from Raft, then sent 1,570 ETH to a burn address – destroying most of the stolen assets and leaving […]
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Hong Kong Regulators Launches Legislative Proposal For Stablecoins

In a significant move to regulate the burgeoning Hong Kong stablecoin market, the Hong Kong Monetary Authority (HKMA) the Financial Services, and the Treasury Bureau jointly announced a groundbreaking legislative proposal. Meanwhile, the initiative aims to establish a regulatory framework for stablecoin issuers, reflecting the evolving landscape of virtual assets. Notably, the proposal, marked by a comprehensive […]
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