Bank of #Japan Boss Hints CBDC & #Stablecoins Can Coexist – Is Japan Edging Toward a CBDC Rollout?

The central Bank of Japan (BoJ) has stated that regulated #stablecoins and a #forthcoming central bank digital currency (CBDC) can coexist – and has given the clearest signal so far that Japan will launch a digital yen.

Kuroda hinted that certain #stablecoins could co-exist with a digital JPY in the Japanese #economy and spoke of such stablecoins’ potential to carry out “conventional payment functions.”

MakerDAO introduced an #emergency proposal to increase its holdings of United States Treasury bonds by 150%, aiming to diversify its Dai  #stablecoins’ collateral exposure.

Bank of #Japan Boss Hints CBDC & #Stablecoins Can Coexist – Is Japan Edging Toward a CBDC Rollout?

The central Bank of Japan (BoJ) has stated that regulated #stablecoins and a #forthcoming central bank digital currency (CBDC) can coexist – and has given the clearest signal so far that Japan will launch a digital yen.

Kuroda hinted that certain #stablecoins could co-exist with a digital JPY in the Japanese #economy and spoke of such stablecoins’ potential to carry out “conventional payment functions.”

Four #stablecoins have reduced their supplies this month, while the #stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days.

to make sure #stablecoins can be overseen by the OCC, to make sure that there are tax #provisions for the entire industry.”

Kuroda hinted that certain #stablecoins could co-exist with a digital JPY in the Japanese #economy and spoke of such stablecoins’ potential to carry out “conventional payment functions.”

The central Bank of Japan (BoJ) has stated that regulated #stablecoins and a #forthcoming central bank digital currency (CBDC) can coexist – and has given the clearest signal so far that Japan will launch a digital yen.

Bank of #Japan Boss Hints CBDC & #Stablecoins Can Coexist – Is Japan Edging Toward a CBDC Rollout?

to make sure #stablecoins can be overseen by the OCC, to make sure that there are tax #provisions for the entire industry.”

#Following USDC’s depegging, three #stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.The above #episode highlights how human error can result in a #permanent loss of funds.

Regulatory risk: #Stablecoins depegging can also bring about regulatory problems. #Governments and authorities may impose restrictions on stablecoins if they believe that the assets threaten the stability of the broader financial system.

They can also think about #diversifying their holdings by using a variety of #stablecoins or other assets. This can lessen the chance of suffering losses in a stablecoin depegging event.

#Stablecoins are a desirable alternative for various use cases, including #cryptocurrency trading, payments and remittances, due to their stability and predictability.

Compared with more #traditional methods like wire transfers or remittance services, #stablecoins can offer a more effective and affordable way to make payments and transfer value across borders.

 #Stablecoins can be used to make #payments and transact in digital assets without requiring a bank account or credit card, which can be crucial in developing and emerging markets.

Regulatory risk: #Stablecoins depegging can also bring about regulatory problems. #Governments and authorities may impose restrictions on stablecoins if they believe that the assets threaten the stability of the broader financial system.

They can also think about #diversifying their holdings by using a variety of #stablecoins or other assets. This can lessen the chance of suffering losses in a stablecoin depegging event.

 #Binance CEO Changpeng “CZ” Zhao to believe that traditional banks are a risk to #stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.

#Debtors saved over $100M using de-pegged #stablecoins to repay loansNEWS Collect this article as an NFT

Pools with assets like #stablecoins within a narrow price range will be less vulnerable to #temporary losses.

Although the situation surrounding #banks, #crypto and #stablecoins is fragile, there remain mainstream options for those working in the space. 

Recently, the firm began exploring “deposit tokens” as an alternative to privately issued #stablecoins and central bank digital currencies on commercial #bank #blockchains.

Although the situation surrounding #banks, #crypto and #stablecoins is fragile, there remain mainstream options for those working in the space. 

Recently, the firm began exploring “deposit tokens” as an alternative to privately issued #stablecoins and central bank digital currencies on commercial #bank #blockchains.

#Debtors saved over $100M using de-pegged #stablecoins to repay loansNEWS Collect this article as an NFT

MakerDAO introduced an #emergency proposal to increase its holdings of United States Treasury bonds by 150%, aiming to diversify its Dai  #stablecoins’ collateral exposure.

#Debtors saved over $100M using de-pegged #stablecoins to repay loansNEWS Collect this article as an NFT

MakerDAO introduced an #emergency proposal to increase its holdings of United States Treasury bonds by 150%, aiming to diversify its Dai  #stablecoins’ collateral exposure.

#Stablecoins are starting to flow back in from the #sidelines. 

#Debtors saved over $100M using de-pegged #stablecoins to repay loansNEWS Collect this article as an NFT

Bitcoin is #experiencing low liquidity and could also serve as an exit for traders nervous about #stablecoins. As USD Coin 

MakerDAO introduced an #emergency proposal to increase its holdings of United States Treasury bonds by 150%, aiming to diversify its Dai  #stablecoins’ collateral exposure.

#Debtors saved over $100M using de-pegged #stablecoins to repay loansNEWS Collect this article as an NFT

Although the situation surrounding #banks, #crypto and #stablecoins is fragile, there remain mainstream options for those working in the space.