Hong Kong Will Ban Retail Investments in Stablecoins Until Next Year
The Ministry of Finance announced a ban on retail investments in stablecoins until 2024 in early October.
Circle Officially Renames its Stablecoins
Circle has recently announced that it will be changing the official names of its stablecoins, previously known as USD Coin and Euro Coin, to USDC and EURC.
Venmo Adds Support for PayPal’s Stablecoin
Venmo, a peer-to-peer payment platform, will soon introduce PYUSD, the stablecoin offered by PayPal.
Mountain Protocol Unveils USDM, a Stablecoin that Generates Passive Income
The Mountain Protocol project has recently announced the launch of the USDM stablecoin.
Circle and OKX Team Up to Add USDC Features to OKX Products
Circle’s Cross-Chain Transfer Protocol is being integrated with OKX’s DEX aggregator to provide USDC cross-chain swaps across Ethereum, Avalanche, Arbitrum and OP Mainnet.
Tether Announces it Will Process USD Transactions Through Britannia Bank
Last week, Tether’s financial statements showed that its USDT reserves increased by $850 million in comparison to their previous amount, bringing its excess reserves to $3.3 billion.
US Congress Accuses Fed of Creating Barriers to Stablecoins Issuance by Banks
A group of congressional members have written to the Federal Reserve System’s leader Jerome Powell expressing their concern that the recent moves from the Fed to increase oversight of banks’ cryptocurrency dealings will impede the progress of the bill to regulate stablecoins.
