Stablecoins

Adrian Orr, Governor of the Reserve Bank of New Zealand (RBNZ), has raised major concerns over cryptocurrencies, especially stablecoins, during a parliamentary finance committee meeting on Feb. 12. Orr argued that stablecoins, despite their name, lack stability and are not a viable alternative to traditional fiat money. He criticized these tokens as “the largest misnomers” […]

European crypto exchange Bitstamp has announced that it will halt its services in Canada from January 8, 2024. The crypto firm did not give a clear reason for the departure. Bitstamp USA CEO and global chief commercial officer Bobby Zagotta expressed gratitude to their Canadian clients and stressed that it was “not a decision we […]

On October 5, the Canadian Securities Administrators (CSA) issued guidance to crypto asset trading platforms on its interim approach to the trading of value-referenced crypto assets (stablecoins). The CSA revealed that it may allow continued trading of stablecoins under specific terms and conditions. In February, the agency announced that stablecoins “may constitute securities and/or derivatives,” […]