Live Breaking News & Updates on Georgian Governments Launch Blockchain

US Stablecoin Issuers Publish New Details on US Dollar Reserves
By
This week, Circle, the issuer of USDC – a cryptocurrency “stablecoin” with each unit backed 1:1 by U.S. dollars – published its latest reserve attestation issued by a U.S. public accounting firm. According to a blog post, Circle’s reserve attestations will now include “a breakdown of dollar-denominated reserve assets, which are all held in the care, custody and control of U.S.-regulated financial institutions and in line with laws and guidelines from our U.S. state money transmission regulators.”
The blog post notes that “[w]hile public disclosure of reserves is not currently a regulatory requirement for stablecoins or privately issued digital currencies, we want to continue leading the sector with greater transparency … especially as the role of dollar digital currencies grows in importance in the global financial system.” According to the blog post, “USDC in circulation has grow ....

United States , New Jersey , City Of , United Kingdom , Joannaf Wasick , Keithr Murphy , Roberta Musiala Jr , Deposit Insurance Corporation , York State Department Of Financial Services , Alabama Securities Commission , Group On Financial Markets , Crypto Financial Services Firm , Exchange Commission , Office Of The Comptroller , Jersey Bureau Of Securities , Issuers Publish New Details , New York State Department , Academics Address Stablecoins , Working Group , Financial Markets , Federal Deposit Insurance Corporation , Wildcat Stablecoins , Federal Reserve System , Georgian Governments Launch Blockchain , Blockchain Pilot Grant , Financial Services Firm Targeted ,