Fiat Money News

The Bank of Mexico and the National Banking and Securities Commission issued a statement earlier this year warning financial institutions not to deal with digital assets, but the president has not often spoken directly on the subject.

The CEO of the British bank believes stablecoins, CBDCs and even NFTs will likely outgrow cryptocurrencies.

Co-led by Tiger Global Management and Coatue Management, the VC funding will inject funds worth $400 million into the bootstrapped company.

The partnership will enable MoneyGram customers to fund and withdraw from their accounts using the USDC stablecoin at physical branches.

The central bank of New Zealand has outlined the major benefits of CBDC designs based on blockchain technology.

The development marks another sign of the digital hryvnia project picking up steam.

Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.

Banking giant HSBC echoes global stablecoin concerns, calling for regulation to be equivalent to its adoption level.

Crypto doesn’t pose a big risk for the financial system until it’s adopted enough to be less volatile, the NBU said.

The Russian government keeps insisting that payments in cryptocurrencies like Bitcoin would ruin its financial system.

The Massachusetts senator said that it’s “worth considering” banning U.S. banks from holding the reserves to back private stablecoins.

Data from a recent report suggest that enforcement actions from U.S. regulators against those in the crypto space cost those firms less than 1% of that in traditional finance for the last 20 years.

Retirees and veterans in El Salvador are worried that the government will start paying their pensions in Bitcoin instead of the U.S. dollar.

“Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource exec said.

The Thai SEC is seeking public input for newly proposed crypto custody regulations until late September.