Tether to launch GBPT stablecoin pegged to British pound sterling

Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment. Major stablecoin company Tether is expanding its stablecoin offering with a new cryptocurrency pegged to the British pound sterling (GBP).Tether officially announced on June 22 that its upcoming GBP-pegged stablecoin, GBPT, will launch in early July and will initially support the Ethereum blockchain.GBPT will be a stable digital currency pegged on the 1:1 ratio to the GBPT, aiming to provide a faster and cheaper option for asset transfers.GBPT joins a family of four other fiat currency-pegged Tether tokens, including the largest stablecoin by market capitalization, USDT.

BIS: 90% of Central Banks are researching the utility of CBDCs

The institution's future monetary vision includes exploring innovations grounded in trust in central banks' stable sovereign currencies and safe payment systems.

Bank of Jamaica Governor: Cryptocurrency ‘Not Sufficiently Stable to Be a Good Means of Payment’

The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks.

Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD

The cryptocurrency exchange is accused of failing to do due diligence, among other things, after users lost large sums as a result of the depegging of stablecoins. A class-action suit was filed against Coinbase on Thursday claiming the trading platform was negligent in its listing of the TerraUSD stablecoin and alleging that it failed to disclose its financial relationship with Terraform Labs.

Human rights activists take aim at privileged crypto critics in letter to Congress

The group of 21 activists provided examples of how crypto assists people around the world, saying “tens of millions” rely on Bitcoin (BTC) and stablecoins as a way to access financial tools. Human rights activists from 20 countries have submitted an open letter to the United States Congress in support of a “responsible crypto policy” and praising Bitcoin and stablecoins as essential tools aiding democracy and freedom for tens of millions.The letter comes just a week after an anti-crypto open letter was sent to Congress purporting to be from the scientific community but whose lead signatures included well known crypto critics and authors from high income, democratic countries.The group of 21 activists clapping back include those from countries which have either seen recent conflict or have otherwise unstable economies such as Ukraine, Russia, Iraq, Nigeria, Venezuela, Cuba and even North Korea.

$133M in Bitcoin, Ethereum Liquidated as Leading Cryptocurrencies Drop

The prices of Bitcoin and Ethereum, the world’s two largest cryptocurrencies, have dropped despite relatively stable transaction activity.

With Cardano [ADA] finding a stable footing, is it getting ready for a jump

Cardano [ADA] seems to have shifted gears in favor of a bullish recovery in June as is the case with its performance so far.

Putting the 'stable' in stablecoins: How Djed & USDD are trying to make it big

The meaning of "Stable" in Stablecoins changed in the month of May with the depegging of Terra. The cryptocurrency market, clenched in bear claws, is still recovering from the unhealed wounds.

Global Web3 metaverse and tax initiatives continue in the face of a market meltdown

Web3 developers, institutional investors and regulators preparing to tax metaverse profits remain stable despite all the turbulence in the digital assets market. In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.In 2021, nonfungible tokens became the biggest disrupter in art, with artists minting, exhibiting and auctioning them and investors buying, selling and trading them.

These are the least 'stable' stablecoins not named TerraUSD

Some stablecoins have failed to deliver the dollar's stability to crypto traders long before TerraUSD's collapse. The recent collapse of the once third-largest stablecoin, TerraUSD (UST), has raised questions about other fiat-pegged tokens and their ability to maintain their pegs.Stablecoins' stability in questionStablecoin firms claim that each of their issued tokens is backed by real-world and/or crypto assets, so they behave as a vital component in the crypto market, providing traders with an alternative in which to park their cash between placing bets on volatile coins.

Company Behind Tether (USDT) Launches New Stablecoin Pegged to Mexican Peso

The firm behind Tether (USDT) is adding another fiat currency-pegged token to its stable of international stablecoins.