1) US federal regulators feel Stablecoins need more supervision.
President’s Working Group which includes representation from the Treasury, the Federal Reserve, the Securities and Exchange Commission, and the Commodity Futures Trading Commission announced on December 23, 2020, that stablecoin arrangements should be designed and operated in a responsible manner that effectively manages risk and maintains the stability of the U.S. domestic and international financial and monetary systems. In the announcement, Justin Muzinich, Treasury Deputy Secretary said
The statement reflects a commitment to both promote the important benefits of innovation and to achieve critical objectives related to national security and financial stability. Regulators will continue to look closely at stablecoin arrangements, and look forward to future dialogue on these issues.
2) MoneyGram made a few points clear about its partnership with Ripple.
MoneyGram, a global leader in cross-border P2P payments and money transfers in a press release clarified things about their partnership with Ripple. The company has also mentioned
The Company has not currently been notified or been made aware of any negative impact to its commercial agreement with Ripple but will continue to monitor for any potential impact as developments in the lawsuit evolve. MoneyGram has had a commercial agreement with Ripple since June 2019; this agreement represents the use of Ripple’s foreign exchange (FX) blockchain trading platform (ODL) for the purchase or sale of four currencies. MoneyGram has continued to utilize its other traditional FX trading counterparties throughout the term of the agreement with Ripple, and is not dependent on the Ripple platform to accomplish its FX trading needs.
3) Andrew Yang, a crypto-friendly politician to run for New York City Mayor.
Andrew Yang, a crypto-friendly politician who had been a presidential candidate earlier and had quit the race has now filed paperwork to run for New York’s City Mayor as per the official candidate list which was last updated on December 23, 2020. When he was a presidential candidate he had said
There is a need to have a uniform set of rules and regulations around cryptocurrency use nationwide. Because right now, we are stuck with this hodge-podge of state-by-state treatments and it’s bad for everybody. It’s bad for innovators who want to invest in this space.
4) Bitwise has stopped investing in XRP.
Bitwise Asset Management, one of the largest crypto fund managers has stopped investing in Ripple after SEC’s complaint. “The Bitwise 10 Crypto Index Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws. Bitwise’s takes the decision to liquidate its position in XRP.”
5) Space Yacht’s second collection of nonfungible token artworks coming soon.
Space Yacht, an International party brand known for organizing over 150 electronic dance music events globally each year will be dropping its second collection of nonfungible token artworks titled “Space Yacht Iconography Collection,”. The artworks will also include original music from Space Yacht co-founder LondonBridge. Space Yacht’s first NFT collection had become the fastest-selling NFT on the Nifty Gateway marketplace.