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The Bank of England (BoE) and the Financial Conduct Authority (FCA) have requested feedback on new proposals to regulate stablecoins. The proposals are part of a more significant effort to regulate the entire crypto industry. However, given the Bank of England’s concerns that stable coins hold the potential to disrupt financial stability, it believes that handling this aspect of the crypto sector is of utmost importance. The BoE said: Payments systems using stablecoins, if widely used for retail payments in the UK, could pose risks to financial stability. The FCA and BOE Publish Separate Papers On Stablecoinss The proposals emerged in two discussion papers issued by the Bank of England and FCA. The bank’s paper suggests regulating not only operators of systemic payment systems that use stable coins , but also wallet providers and stablecoin issuers. The bank’s Deputy Governor for Financial Stability, Sarah Breeden, said that the proposals aim to support safe in...

Amidst the rollercoaster of cryptocurrency prices, stablecoins promise stability. Yet, with varying levels of resilience and recent depegging events causing concern, the question arises: Are all stablecoins really that stable? In the ever-changing world of digital assets, cryptocurrencies like Bitcoin (BTC) were pioneering, bringing decentralization into the spotlight. However, the potential of these initial cryptocurrencies has often been clouded by their stark volatility. This is where stablecoins come in. They aim to bridge the gap by pegging their value to more stable assets like the U.S. dollar or gold, promising a blend of stability and reliability in a turbulent market. Not all stablecoins are equally stable. Some are better at handling the ups and downs of the crypto market, while others can be risky. Crypto.news talked to experts to understand how such crypto assets behave and how to invest in stablecoins more effectively. You might also like: Stablecoins: why they...

The meme coin market remains under pressure, looking at performance in the past 24 hours. The top-5 most liquid meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), BONE, and Floki Inu (FLOKI), are down 17%, 15.7%, 10.7%, 24.2%, and 17.34%, respectively. Memecoins in the red. Source: Coinmarketcap Coingecko data shows that most of these coins have been on the receiving end, posting losses. Some of them, including DOGE, SHIB, and BONE, edged higher until seven days ago. Meanwhile, others like FLOKI and PEPE have been falling in the past weeks. You might also like: Shiba Inu devs unveil Shibarium scaling plans amid technical challenges Despite the drawdown across the board, a few are firm. Some, including HarryPotterObamaSonic10Inu (ERC-20), HarryPotterObamaPacMan8Inu, Shibarium Token, and CAT, are up, rising 56.52%, 79.98%, 1290.31%, and 448%, with the last 2 being new launches. Shibarium Token price charts. Source: Coinmarketcap Shibarium is now trading at $0.02 aft...

While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise. The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts anticipate Bitcoin to start a recovery but monitoring resource Material Indicators sounded cautious. In a recent analysis, they said that the lack of a strong bid from the whales at lower levels could be a concerning sign. They believe that the bullish perspective will invalidate if Bitcoin sustains below the 200-week moving average. Crypto market data daily view. Source: Coin360 Over the next few days, the progress on the debt ceiling talks between leaders from Congress and the White House is expected to take center stage. The uncertainty and risks ...

Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar. The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million off their loans. Following the collapse of Silicon Valley Bank (SVB) on March 10, the USD Coin (USDC) price dropped to lows of $0.87 on March 11 amid concerns about its reserves being locked at SVB. MakerDAO’s stablecoin DAI also depegged briefly, going as low as $0.88 on March 11, according to CoinGecko. The USDC price briefly dropped to lows of $0.87 on March. 11. Source: Cointelegraph The depegging, in the backdrop of broader crypto turmoil, led to more than $2 billion in loan repayments on March 11 on decentralized (DeFi) lending protocols Aave and Compound — with more than half made in USDC, according to a report by digital assets data provider Kaiko.  Another $500 milli...