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A future regulation on the stablecoins?

8 December 2020

Temps de lecture 3 minutes

Manuel Valente

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Proposed Stablecoin Regulation Act in the U.S.

The Democrat deputies in the United States have proposed a law to regulate stablecoins.
This law would force stablecoin issuers such as Tether (USDT), Circle (USDC) or Facebook (Libra), but also potentially MakerDAO to be regulated by federal law and that their deposits be stopped at the FED.
For Jeremy Allaire, CEO of Circle, this would represent a big step backwards and an obstacle to financial innovation and to Fintech in general.

Digital currency test in a Chinese city

The city of Suzhou in China is launching an initiative to test China’s central bank digital currency, called DC/EP.
Residents are invited to participate in a lottery to distribute 100,000 lots of 200 digital yuan that they can spend in partner stores and test offline payment functionality.

Launch of an STO on Tezos

Logical Pictures launches an STO on Tezos: 21 Content Ventures.
The company is a major European producer in the film industry and plans to tokenize its entire portfolio of films and series.
The STO would have a value of 100 million euros, and participation in each film project could bring in between 4 and 6%.

Beware of scams!

With the advent of the DeFi, fraud attempts become frequent.
The latest example: a fake Uniswap application was available on Google’s Play Store and aimed at retrieving users’ private keys to steal their funds.
Be vigilant and always check the URL of the website you are browsing.
And most importantly, never give your private keys and seed to anyone.

Visa announces a partnership

Visa announces a partnership with Circle Internet Financial, one of the companies behind the stablecoin USDC.
The purpose of the partnership is to make it possible to use the USDC via Visa payment cards, especially for Circle’s corporate clients.
This will enable them to make international payments at a lower cost and more efficiently.

MicroStrategy Purchases Numerous BTCs Again

MicroStrategy, a publicly traded company listed on the U.S. Stock Exchange, announces a new purchase of BTC for $50 million.
In total, MicroStrategy owns more than 40,000 BTCs, paid approximately $450 million, but now valued at $766 million.

Creation of stock market indices on cryptos for 2021

S&P DowJones Indexes Announces Crypto-Actives Stock Indexes for 2021.
The company will use the services of Lukka, which currently lists more than 500 cryptoactives.
The heavyweights of the finance industry are therefore gaining a foothold in this market.

Launch of Aave V2

Version 2 of the Aave protocol has been launched.
There is now the possibility to repay positions directly with collateral, an improved flash loans system at different levels, a tokenization of generated debt which allows the creation of a secondary debt market, optimizations of transaction costs, an integration of the Credit Delegation system which allows for collateralized borrowing, as well as variable and stable borrowing rates for borrowers.

Launch of Opyn V2

Opyn also launches the second version of its protocol giving access to decentralized options.
This new version optimizes the system and brings new functionalities such as, for example, the possibility to make options at maturity (European options).
DeFi products offer more and more choices for investors.

Fundraising for 1inch

Aggregator 1inch raised $12 million in their Series A financing.
This fund raising was facilitated with a LFAA sale, a contract promising the issuance of tokens in the future. 1inch then announced that they were working on their own token.

Polkadot launches Polkadot DeFi Alliance

On December 3, Polkadot launched the Polkadot DeFi Alliance.
This initiative has 10 members, including Chainlink, who will seek to develop DeFI in the Polkadot ecosystem.

Figures of the week

Record for GBTC

Volumes on GBTC, Grayscale’s regulated Bitcoin product, reached their highest level in November since 2017. 254.41 million on average per day of traded volume.

A stat on the DeFi

There are more than one million users through DeFi.

Ethereum has the wind in its sails

Ethereum’s transaction volume reached 41 billion in November.

Ethereum 2.0 massively staked

There are now 1.2 million ethers staking on Ethereum 2.0.

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