Prime Video has canceled a pair of first-year series, Butterfly and Countdown.
The Amazon MGM Studios series had summer debuts and each spent a short time on Nielsen’s top 10 U.S. streaming charts, but neither will return for a second…
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Malware apps posing as free VPNs are on the rise
Cybersecurity firm Cleafy just issued a report warning against a rising malware called Klopatra, which infects personal devices by posing as a free VPN app called Mobdro Pro IP + VPN. This is the latest corroboration of a series of warnings…
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Major banks explore issuing stablecoin pegged to G7 currencies – Reuters
- Major banks explore issuing stablecoin pegged to G7 currencies Reuters
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- Group of leading international banks explores issuance of a 1:1 reserve-backed form of digital money group.bnpparibas
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GPs Split on PSA Testing as Clearer Guidance Urged – Medscape
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European Commission says existing rules address stablecoin risks
Oct 10 (Reuters) – Europe’s crypto rules do enough to address the risks around stablecoins, the European Commission said on Friday, signalling it does not see the need for major change after the European Central Bank called for more safeguards.
Stablecoins – cryptocurrencies pegged to real-world currencies – are among the fastest-growing parts of the digital assets industry, with the U.S. this year passing legislation to promote their usage.Sign up here.
Europe has launched a landmark set of crypto-specific rules, but lawmakers in Brussels are facing pressure from the ECB to block the so-called “multi-issuance” stablecoin model.
ECB CALLS FOR SAFEGUARDS
At the heart of the dispute is the question of whether a multinational stablecoin company can treat the tokens it issues within the EU as interchangeable with those held outside the EU.
In a letter sent to European Commissioner Maria Luis Albuquerque on Tuesday, six crypto industry associations, whose members include major stablecoin issuer Circle (CRCL.N), called on the EU to publish guidance “confirming multi-issuance in principle” and clarify how it works under the EU’s crypto rules, called MiCA.“We believe MiCA provides a robust and proportionate framework for addressing risks stemming from stablecoins,” a Commission spokesperson told Reuters in emailed comments, acknowledging receipt of the letter.
“The Commission is working towards providing such clarification as soon as possible.”
The European Systemic Risk Board, headed by ECB President Christine Lagarde, has said that the multi-issuance structure would bring built-in risks for financial stability and called for urgent safeguards.The ECB is concerned that people holding tokens created by a stablecoin’s non-EU entity could choose to redeem it with the EU entity, potentially creating a run on reserves held within the EU.But stablecoin issuers say that they can make sure they always have enough reserves to meet redemption requests, wherever they take place.
JP Morgan analysts said this week that 99% of stablecoin supply is pegged to the dollar, and that the sector’s growth would boost demand for the greenback.
Reporting by Elizabeth Howcroft. Editing by Tommy Reggiori Wilkes and Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
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Victoria Beckham gets vulnerable on eating disorder amid public scrutiny
Victoria Beckham gets vulnerable on eating disorder amid public scrutiny originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.
Victoria Beckham is a mainstay in the fashion world, music industry,…
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As the Saudi Government Sponsors Comedy, Let’s Speak Up for Saudi Writers at Risk
The Riyadh Comedy Festival draws to a close this week, with some of the biggest names in American comedy having taken part. Their participation has sparked controversy and debates about what it means for artists to participate in a Festival that…
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Meghan Markle uses shattered families to earn money
Meghan Markle has highlighted the vital…
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Initial State Control Generates Robust Entangled Steady States In Open Quantum Systems Via Dissipation
Entanglement, a cornerstone of quantum technologies, typically suffers from environmental noise, yet recent research demonstrates that carefully controlled dissipation can surprisingly create stable, entangled states. Diego Fallas Padilla,…
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Chloé’s Latest Show Took Over UNESCO—and Ended With the Most Elegant Dinner in Paris
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