New York Prosecutors Demand Transparency From Bitfinex and Tether

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The crypto community has been laser focused on the current dilemma between Bitfinex exchange and New York prosecutors over the alleged loss of $850 million of co-mingled customer and corporate funds. After the craziness last week, the New York Attorney General’s (NYAG) office has now demanded that Bitfinex must show transparency by turning over documents…

Facebook allegedly raising as much as $1 billion for its cryptocurrency stablecoin

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Facebook is looking for VC firms to invest in its cryptocurrency project for sums as large as $1 billion, according to NY Times reporter Nathaniel Popper. The company is allegedly designing its crypto as a stablecoin for WhatsApp using a basket of foreign currencies as collateral. Since 2018 Facebook has been covertly working on a cryptocurrency…

Japan’s Second Biggest Bank Launching Yen-Pegged Stablecoin in March 2019

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Mizuho Bank, Japan’s second largest financial institution, is readying the infrastructure for a stablecoin launch in March 2019, as reported by Asia Nikkei Review. The coin is aimed at increasing low-cost cross-border transfers and remittances. Moving towards Crypto-Finance Mizuho plans to promote cashless payments in Japan by deploying its offering across retail stores for feeless-transactions,…

Stablecoins: Money of the Future

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Stablecoins are currently the fastest growing sector of the cryptocurrency market, worth $186 billion; these constitute cryptocurrencies whose values are pegged to real life commodities like gold or the US dollar. This is opposed to traditional cryptocurrencies such as Bitcoin or Ethereum whose markets are very volatile and can fluctuate by 10-20 percent in the…

Japanese Regulator: Stablecoins Are Not Cryptocurrencies Under Current Law

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Japan’s top financial regulator, the Financial Services Agency, has exclusively explained to news.Bitcoin.com how stablecoins are treated under current Japanese law. In addition to emphasizing that they are not virtual currencies, the regulator clarified the registration requirements for their issuers and dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Not Virtual Currencies Japan’s…

The Daily: Binance to Expand in Singapore, Uphold Launches Loan Service

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In today’s edition of The Daily, we look at a strategic investment that could help Binance to establish a fiat-to-crypto exchange in Singapore. We also focus on a new service that digital payments platform Uphold is launching to lend funds to its clients, as well as a cryptocurrency-backed prepaid card that’s coming to the U.S.…

The Fall of Tether and What It Means for the Cryptocurrency Markets

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The demise of Tether has been a car crash in slow motion. An unswervable event that has played out over the course of months, it has reached a crescendo in the past 24 hours, with tether slipping significantly from its dollar peg. It is possible, perhaps even probable, that it will regain parity with the…

Gemini Dollar Code Review Reveals the Stablecoin’s Accounts Can Be Frozen

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This week a blockchain researcher named Alex Lebed published a code review on the new stablecoin, the gemini dollar, created by the Gemini Trust cryptocurrency firm. According to Lebed’s study, gemini dollar accounts can be frozen by the exchange, and the tokens can be turned into non-transferable assets. Also read: Markets Update: Short Term Recovery – Is…

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

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One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central bank’s ban. Also Read: The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition Zebpay Enables Trueusd Mumbai-headquartered cryptocurrency exchange…