The cryptocurrency market is experiencing a significant decline in price, which has caused many to fear the end of cryptocurrencies. The whole concept of decentralization and free markets are at risk if digital assets lose their value. Dow Jones reporter Jack Tapper discusses this issue with CNBC’s Squawk Box.
The “what is a stablecoin” is a question that has been asked for quite some time. It’s not an easy question to answer, but the “stablecoin” is one of the most talked about coins in recent months. The “stablecoin” offers a more stable currency than other cryptocurrencies because it doesn’t have any volatility in their price.
This week will go down in history as the week when stablecoins demonstrated an unexpected capacity to depeg. Following the broad crisis of both crypto and financial markets, Terra’s TerraUSD (UST) sank to a staggering This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for a short time..29, but it was also the headliner of the stablecoins’ niche, while Tether (USDT) lost the balance and briefly fell to This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for a short time..96.
Given the market size of stablecoins, US Treasury Secretary Janet Yellen believed it was vital to reassure everyone that depegging did not pose a danger to America’s financial stability. She also urged legislators to create a “uniform federal framework” on stablecoins to mitigate risks. Can you ever be too cautious?
Commissioner Hester Peirce, on the other hand, seems to be in the mood for testing. While stablecoins should have their own regulatory framework, according to the Crypto Mom, authorities must allow for failure, “since that clearly is part of attempting new things.”
Support and roasting from the public
The central bank digital currency (CBDC), the closest approximation to stablecoins, is progressively finding its way into policymakers’ plans. The Bank of Israel boasted about popular support for its “digital shekel” plan, which was put on hold at one time but resumed testing last year. In that sense, the European Central Bank has little to boast about as it continues to sell the public on different anonymity choices for its digital euro.
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How can the UN become pro-crypto?
Large international organizations seldom express worry about the cryptocurrency market’s prohibition. So the prize goes to the Central Bank of Nigeria (CBN), which is fighting so hard to prevent private digital currencies from competing with its CBDC, the eNaira, that the United Nations and the Secretary-General of the Organisation for Economic Co-operation and Development (OECD) had to admit: “The restrictions have crippled foreign direct investment in the fintech industry and negatively impacted millions of young Nigerians who earn a living from the sector.” The issue is that it does not seem to worry CBN.
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There is no tax on hodlers.
While some strive to prevent innovation, others make life simpler for those who wield it. New bitcoin tax rules have been announced by Germany’s Finance Ministry. Individuals who sell Bitcoin (BTC) or Ether (ETH) more than 12 months after purchasing it are exempt from paying taxes on the transaction if they make a profit. Furthermore, after a year of holding, Bitcoin miners who purchase freshly generated BTC will have their tax payments refunded.
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It’s past time for Bitcoin maximalism to give way to Bitcoin reality. AAX’s Ben Caselin explains why.
What will change now that the United Kingdom’s high court has recognized nonfungibles as property?
In his interview, the Chairman of the Digital Euro Association confesses that the fundamental goal of the digital euro is yet unclear.
Here are the important conclusions from Cointelegraph Research’s inaugural H1 Regulation study for 2022.
Is there a secret to mainstream crypto adoption? Railgun’s Kieran Mesquita believes in “on-chain privacy.”
- stablecoin price
- stablecoins on coinbase