Thursday, March 23, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News XDai Chain

OCC Chief Says Stablecoins Need Common Standard

by ethozedge
April 27, 2022
in XDai Chain
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter


Key Takeaways

  • The Office of the Comptroller of the Currency has said that stablecoins need a common standard.
  • He claimed that stablecoins should be interoperable with each other.
  • He harkened the current state of stablecoins back to the early days of the Internet.

Share this article

The acting chief of the Office of the Comptroller of the Currency has claimed that stablecoins should be given a common standard similar to the way that certain web practice standards were established in the early days of the Internet.

Stablecoins Scrutinized

The state of stablecoins in the cryptocurrency markets has been critiqued by an important regulator in the United States.

Michael Hsu, the head of the Office of the Comptroller of the Currency—an independent bureau of the U.S. Department of the Treasury that is tasked with regulating and overseeing banks—has said that stablecoins need to become interoperable with each other. He emphasized the potential boon that might come if companies that issue stablecoins would put forth and adhere to one technical standard.

Speaking in the nation’s capital at the symposium for Artificial Intelligence and the Economy: Charting a Path for Responsible and Inclusive AI, the acting chief of the OCC, Hsu, said:

“To ensure that stablecoins are open and inclusive, I believe a standard-setting initiative similar to that undertaken by [the Internet Engineering Task Force] and [World Wide Web Consortium] needs to be established, with representatives, not just from crypto/Web3 firms but also including academics and government.”

Hsu also noted the OCC’s willingness to work with other government agencies to help stablecoin companies to work out a single technical standard such as those practiced in the Internet’s infancy. The OCC might tap the National Institute of Standards and Technology, for example, to facilitate the adoption of a shared standard for stablecoins, whereby they might be interoperable.

Stablecoins are meant to provide a more stable asset through which to trade and store value via their peg to other assets, such as dollars. There are several on the market, from those issued by centralized companies, such as Tether’s USDT and Circle’s USDC, to decentralized (or algorithmic) stablecoins like MakerDAO’s DAI or Terra’s UST.

Stablecoins have been a hot topic of discussion for U.S. regulators and lawmakers in recent months. Last December, the U.S. Senate Banking Committee held a hearing on stablecoins, and the committee’s chair Senator Sherrod Brown noted his view that stablecoins made it easier for people to risk their money on volatile, or even fraudulent, cryptocurrencies. However, at the House Financial Services Committee’s February hearing, the Congress members’ consensus seemed to favor not forcing stablecoin issuers to become insured depository institutions.

Today it was reported that Representative Tom Emmer (R-MN) has drafted legislation that would place certain yield-bearing stablecoins under the purview of the SEC.

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Source link

Tags: bitcoin newsChiefCommoncrypto analysiscrypto newsEthoz EdgeLatest bitcoin newslatest crypto newsOCCStablecoinsStandard
Share76Tweet47

Related Posts

Euler hacker offers to negotiate return of funds

by ethozedge
March 20, 2023
0

Ad A hacker who recently exploited Euler Finance is attempting to arrange the return of stolen funds, as seen in...

Is AAVE a Good Investment? – Cryptopolitan

by ethozedge
March 20, 2023
0

Aave Price Prediction 2023-2032 A proposal to reward members of the Aave Companies with $16.28 million in retroactive funding for the development...

Arbitrum’s weekly DEX volume touches new ATH

by ethozedge
March 20, 2023
0

Arbitrum’s decentralized exchange (DEX) transactions volume rose to a new all-time high (ATH) in each of the last two weeks,...

BitGo Successfully Patched A Critical Vulnerability

by ethozedge
March 18, 2023
0

Last updated Mar 18, 2023 The Fireblocks team identified a critical vulnerability in the BitGo platform’ wallet and later the...

$170K of Stolen Ethereum Traced to North Korean Hackers

by ethozedge
March 17, 2023
0

Alex Dovbnya Blockchain analytics firm Chainalysis has identified a North Korean-linked address that received approximately $170,000 worth of Ethereum stolen...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

Kraken Halts ACH Deposits and Withdrawals via Silvergate

March 23, 2023

Just Saying No to Digital Dollars Means Cementing the Surveillance Status Quo — CoinDesk

March 23, 2023

8 Best Crypto Airdrops in 2023: Get Free Crypto

March 23, 2023

Is There a Sunny Outlook for Solana?

March 23, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$28,441.00-0.87%
  • ethereumEthereum(ETH)$1,835.972.04%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.01-0.30%
  • binancecoinBNB(BNB)$331.180.29%
  • usd-coinUSD Coin(USDC)$1.010.02%
  • rippleXRP(XRP)$0.4484391.37%
  • cardanoCardano(ADA)$0.3794971.09%
  • dogecoinDogecoin(DOGE)$0.0779361.92%
  • staked-etherLido Staked Ether(STETH)$1,831.502.07%
  • matic-networkPolygon(MATIC)$1.140.18%
  • solanaSolana(SOL)$22.45-1.49%
  • binance-usdBinance USD(BUSD)$1.00-0.50%
  • polkadotPolkadot(DOT)$6.382.14%
  • litecoinLitecoin(LTC)$93.4615.56%
  • shiba-inuShiba Inu(SHIB)$0.000011-0.40%
  • tronTRON(TRX)$0.064918-3.48%
  • avalanche-2Avalanche(AVAX)$17.640.64%
  • daiDai(DAI)$1.00-0.20%
  • uniswapUniswap(UNI)$6.382.48%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,500.00-0.54%
  • chainlinkChainlink(LINK)$7.591.16%
  • cosmosCosmos Hub(ATOM)$11.780.15%
  • ToncoinToncoin(TON)$2.26-7.69%
  • leo-tokenLEO Token(LEO)$3.36-0.80%
  • ethereum-classicEthereum Classic(ETC)$20.891.92%
  • moneroMonero(XMR)$155.501.01%
  • okbOKB(OKB)$44.91-1.89%
  • bitcoin-cashBitcoin Cash(BCH)$129.10-0.91%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • stellarStellar(XLM)$0.0935121.01%
  • filecoinFilecoin(FIL)$5.972.58%
  • AptosAptos(APT)$13.279.01%
  • lido-daoLido DAO(LDO)$2.381.51%
  • true-usdTrueUSD(TUSD)$1.00-0.09%
  • hedera-hashgraphHedera(HBAR)$0.0629340.03%
  • quant-networkQuant(QNT)$128.15-0.03%
  • nearNEAR Protocol(NEAR)$2.072.49%
  • crypto-com-chainCronos(CRO)$0.070509-0.06%
  • vechainVeChain(VET)$0.0236861.80%
  • ArbitrumArbitrum(ARB)$1.30-74.28%
  • blockstackStacks(STX)$1.183.80%
  • algorandAlgorand(ALGO)$0.221000-2.54%
  • internet-computerInternet Computer(ICP)$5.230.30%
  • apecoinApeCoin(APE)$4.152.05%
  • fantomFantom(FTM)$0.501.98%
  • the-graphThe Graph(GRT)$0.1535532.99%
  • eosEOS(EOS)$1.172.10%
  • the-sandboxThe Sandbox(SAND)$0.670.37%
  • decentralandDecentraland(MANA)$0.620.95%
  • aaveAave(AAVE)$78.230.69%
  • elrond-erd-2MultiversX(EGLD)$43.761.47%
  • tezosTezos(XTZ)$1.181.85%
  • flowFlow(FLOW)$1.030.29%
  • immutable-xImmutableX(IMX)$1.22-7.74%
  • theta-tokenTheta Network(THETA)$1.051.10%
  • fraxFrax(FRAX)$1.00-0.19%
  • axie-infinityAxie Infinity(AXS)$8.720.86%
  • kucoin-sharesKuCoin(KCS)$9.09-1.69%
  • neoNEO(NEO)$12.422.41%
  • havvenSynthetix Network(SNX)$2.72-3.28%
  • optimismOptimism(OP)$2.55-2.33%
  • conflux-tokenConflux(CFX)$0.379730-6.55%
  • rocket-poolRocket Pool(RPL)$40.49-0.07%
  • BitDAOBitDAO(BIT)$0.54-2.60%
  • gatechain-tokenGate(GT)$5.400.93%
  • paxos-standardPax Dollar(USDP)$1.00-0.26%
  • curve-dao-tokenCurve DAO(CRV)$0.98-0.84%
  • terra-lunaTerra Luna Classic(LUNC)$0.000127-0.40%
  • mina-protocolMina Protocol(MINA)$0.852.59%
  • bitcoin-cash-svBitcoin SV(BSV)$37.620.88%
  • usddUSDD(USDD)$1.00-0.68%
  • klay-tokenKlaytn(KLAY)$0.2332121.05%
  • WhiteBIT TokenWhiteBIT Token(WBT)$5.01-0.12%
  • dashDash(DASH)$62.9910.88%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.80-0.38%
  • gmxGMX(GMX)$77.23-1.62%
  • chilizChiliz(CHZ)$0.1234890.57%
  • sapphireSapphire(SAPP)$0.7035.32%
  • ecasheCash(XEC)$0.0000322.51%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • makerMaker(MKR)$684.490.28%
  • frax-shareFrax Share(FXS)$8.242.60%
  • iotaIOTA(MIOTA)$0.2176521.51%
  • bittorrentBitTorrent(BTT)$0.000001-0.99%
  • huobi-tokenHuobi(HT)$3.70-7.21%
  • singularitynetSingularityNET(AGIX)$0.492399-2.93%
  • Bitget TokenBitget Token(BGB)$0.400346-0.89%
  • compound-ethercETH(CETH)$36.871.30%
  • xdce-crowd-saleXDC Network(XDC)$0.039621-0.77%
  • EdgecoinEdgecoin(EDGT)$1.01-0.22%
  • Tokenize XchangeTokenize Xchange(TKX)$6.531.27%
  • pax-goldPAX Gold(PAXG)$1,998.971.60%
  • trust-wallet-tokenTrust Wallet(TWT)$1.200.11%
  • render-tokenRender(RNDR)$1.36-4.49%
  • tether-goldTether Gold(XAUT)$1,992.03-0.04%
  • radixRadix(XRD)$0.04733814.13%
  • zilliqaZilliqa(ZIL)$0.0286532.14%
  • mask-networkMask Network(MASK)$6.0517.36%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • loopringLoopring(LRC)$0.3658004.89%
  • osmosisOsmosis(OSMO)$0.82-1.16%
  • compound-usd-coincUSDC(CUSDC)$0.022864-0.12%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • 1inch1inch(1INCH)$0.530.42%
  • thorchainTHORChain(RUNE)$1.451.73%
  • arweaveArweave(AR)$8.56-1.83%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,966.712.18%
  • convex-financeConvex Finance(CVX)$5.51-0.66%
  • zcashZcash(ZEC)$38.367.56%
  • oec-tokenOKC Token(OKT)$23.171.08%
  • fetch-aiFetch.ai(FET)$0.390357-0.48%
  • enjincoinEnjin Coin(ENJ)$0.4055711.77%
  • dydxdYdX(DYDX)$2.642.38%
  • casper-networkCasper Network(CSPR)$0.037052-0.61%
  • kavaKava(KAVA)$0.89-1.97%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.68%
  • nexoNEXO(NEXO)$0.715.35%
  • btse-tokenBTSE Token(BTSE)$2.410.38%
  • DeFiChainDeFiChain(DFI)$0.58-0.83%
  • basic-attention-tokenBasic Attention(BAT)$0.2568954.06%
  • FlareFlare(FLR)$0.0316730.16%
  • EthereumPoWEthereumPoW(ETHW)$3.491.68%
  • FLOKIFLOKI(FLOKI)$0.000038-2.12%
  • cdaicDAI(CDAI)$0.022228-0.34%
  • ethereum-name-serviceEthereum Name Service(ENS)$14.081.03%
  • nemNEM(XEM)$0.040079-0.53%
  • DogechainDogechain(DC)$0.001787-24.98%
  • Nexus MutualNexus Mutual(NXM)$52.511.99%
  • MagicMagic(MAGIC)$1.65-8.94%
  • woo-networkWOO Network(WOO)$0.2080112.01%
  • qtumQtum(QTUM)$3.313.65%
  • WEMIXWEMIX(WEMIX)$1.40-2.05%
  • injective-protocolInjective(INJ)$4.252.11%
  • Aleph ZeroAleph Zero(AZERO)$1.550.19%
  • holotokenHolo(HOT)$0.0019002.08%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.000000-3.13%
  • theta-fuelTheta Fuel(TFUEL)$0.0550352.45%
  • galaGALA(GALA)$0.043051-0.16%
  • terra-luna-2Terra(LUNA)$1.36-2.80%
  • ravencoinRavencoin(RVN)$0.0268560.10%
  • kusamaKusama(KSM)$35.253.80%
  • celoCelo(CELO)$0.642.45%
  • compound-governance-tokenCompound(COMP)$44.470.28%
  • oasis-networkOasis Network(ROSE)$0.0598321.00%
  • decredDecred(DCR)$20.092.22%
  • bitcoin-goldBitcoin Gold(BTG)$16.91-0.63%
  • Access ProtocolAccess Protocol(ACS)$0.0098863.96%
  • gnosisGnosis(GNO)$113.441.28%
  • Gains FarmGains Farm(GFARM2)$8,150.47-3.26%
  • BeldexBeldex(BDX)$0.0558790.74%
  • olympusOlympus(OHM)$10.361.08%
  • yearn-financeyearn.finance(YFI)$8,736.18-0.81%
  • AstarAstar(ASTR)$0.065717-2.33%
  • audiusAudius(AUDIO)$0.2882251.48%
  • KaspaKaspa(KAS)$0.0163421.30%
  • balancerBalancer(BAL)$7.095.62%
  • ankrAnkr Network(ANKR)$0.0347121.00%
  • linkLINK(LN)$42.141.17%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.0000000.48%
  • harmonyHarmony(ONE)$0.0220421.45%
  • liquity-usdLiquity USD(LUSD)$1.02-0.04%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.15-2.60%
  • chiaChia(XCH)$38.621.37%
  • stepnSTEPN(GMT)$0.4177703.25%
  • nucypherNuCypher(NU)$0.2014324.43%
  • SSV NetworkSSV Network(SSV)$36.56-0.13%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • huobi-btcHuobi BTC(HBTC)$28,539.000.02%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • convex-crvConvex CRV(CVXCRV)$0.87-0.11%
  • Gains NetworkGains Network(GNS)$8.264.41%
  • AstraferAstrafer(ASTRAFER)$1.600.63%
  • omisegoOMG Network(OMG)$1.79-1.08%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • golemGolem(GLM)$0.2474260.76%
  • BlurBlur(BLUR)$0.59-5.00%
  • iotexIoTeX(IOTX)$0.0256451.84%
  • moonbeamMoonbeam(GLMR)$0.3950662.03%
  • jasmycoinJasmyCoin(JASMY)$0.0049180.78%
  • justJUST(JST)$0.026358-1.64%
  • bloxBlox(CDT)$0.344124-17.98%
  • DAO MakerDAO Maker(DAO)$1.565.67%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • kadenaKadena(KDA)$1.02-0.69%
  • escoin-tokenEscoin(ELG)$2.881.03%
  • Frax EtherFrax Ether(FRXETH)$1,836.432.13%
  • wavesWaves(WAVES)$2.260.49%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • ecomiECOMI(OMI)$0.000834-3.27%
  • tether-eurtEuro Tether(EURT)$1.090.58%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • amp-tokenAmp(AMP)$0.003938-0.29%
  • nervos-networkNervos Network(CKB)$0.00651712.99%
  • band-protocolBand Protocol(BAND)$1.751.88%
  • siacoinSiacoin(SC)$0.0041251.33%
  • sushiSushi(SUSHI)$1.10-5.21%
  • ontologyOntology(ONT)$0.2384522.62%