In our “Stablecoin” section, we cover news and developments related to stable cryptocurrencies pegged to fiat currencies or other assets. Here you will find information about popular stablecoins, their mechanisms, and their role in the crypto economy. Read the “Stablecoin” section on ForkNews to stay informed about the stablecoin market.
The Japanese financial regulator, the Financial Services Agency (FSA), does not classify stablecoin as a cryptocurrency. While emphasizing that fiat-pegged coins are likely not digital currencies, the regulator has clarified the registration requirements for issuers and sellers of these tokens.
On October 23, the most famous cryptocurrency exchange Coinbase announced that it will begin supporting the USDC stablecoin. All Coinbase users can now trade USDC on the official website.
Tether (USDT), the world's best-known stablecoin, broke its peg against the dollar in reverse, falling to an 18-month low and halving trading volumes.
Texas finance professor John Griffin and his colleague Amin Shams published a study claiming that once the price of Bitcoin fell to a certain level, some traders would buy up the sagging asset through the Tether stablecoin, bringing the price back to its previous level.
The world's largest crypto exchange Binance suspended Tether (USDT) withdrawals on Monday morning during a "period of increased activity."
The second large tranche of Tether in the last two weeks gives hope for the revival of the ascending market and the rise of the Bitcoin rate.
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