#fiat
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Canada sets stablecoin rules in 2025 Federal budget
Canada’s 2025 federal budget introduces legislation for fiat‑backed stablecoins. Issuers would be required to hold adequate reserves and offer clear redemption rights. The Bank of Canada is designated to administer the regime, funded with $10 million retained from its remittances over 2026–27. Visa pilots stablecoin funding for Visa Direct
Visa announced a pilot that lets businesses fund Visa Direct with stablecoins to speed up cross‑border payouts. Instead of pre‑positioning idle fiat deposits, companies can use digital tokens pegged to national currencies. Visa will treat those balances as “on‑account funds” available for near‑instant disbursements. 
Different Ways to Cash out Crypto in Ukraine
New to crypto, and the assets you bought increased in value? Maybe you have something in mind you want to buy with the profit. What to do if you need fiat money to acquire what you want? Depending on the country, different options may be available. Below, we’ll discuss the ways to cash out and use crypto in Ukraine in particular. 
In a span of two months, the Hong Kong Monetary Authority (HKMA) collected 108 responses from industry players and financial institutions about regulations for fiat-referenced stablecoins. Government officials see these assets as the most promising, which is why the new bill will focus on them. 
A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem. 
Elon Musk has shared his relatively indifferent stance towards cryptocurrencies, considering money primarily as a database for resource distribution. He opined that fiat currencies are quite capable of serving this purpose effectively, provided that governments don't abuse the system and fuel inflation. 
5 Bug Bounty Platforms in Web3 to Earn Money From
On Web3 bug bounty platforms, you can use your skills to hunt vulnerabilities in different projects and earn rewards in return. The amount you earn usually depends on how critical the bug is and how much the company offers to pay. Rewards can be in the form of crypto or fiat money. 
At a parliamentary committee session, New Zealand central bank governor Adrian Orr voiced his skepticism towards stablecoins, labeling them as inherently unstable. He argued that their reliability is solely contingent on the financial reserves of the issuing entity. The governor also dismissed the notion of Bitcoin or any similar cryptocurrency as a viable substitute for fiat money or a store of value. 
Despite restrictions, Chinese cryptocurrency enthusiasts are keeping the trade alive. Users are covertly meeting in public places like cafes, parks, and even laundromats to swap wallet addresses, trade assets, and exchange bank information for converting their crypto into fiat currency. 
Leading Italian automaker FIAT, in partnership with the Zealy platform and Arbitrum blockchain, is set to release 55,000 exclusive FIAT Pass NFTs today at 11:00 a.m. ET. These NFTs will be distributed from November 21 to November 30, 2023, on a first-come, first-served basis to users on the whitelist. “Stablecoins Way Better than Digital Fiat”: MakerDAO Interview
GNcrypto had a pleasure talking to Tadeo, Developer Relations for Spark Protocol, MakerDAO’s SubDAO. And the conversation wasn’t just about the Dai stablecoin or its advantages compared to its competitors, USDT included. We delved into which countries are better at regulating crypto, why people trust opaque businesses, recent research into Solana as a potential future codebase for MakerDAO.