#stablecoin

The new stablecoin USDS, poised to replace DAI, might feature a decentralized process for appealing frozen assets if such measures are implemented in the future. Currently, there is no mechanism for freezing funds, but it could be added through an update to the smart contract.

Tether, the issuer behind the USDT stablecoin, is planning to double its headcount over the next year to better meet regulatory demands. This expansion will bring the company’s workforce to around 200 employees. The financial department, responsible for managing the company’s $118 billion in reserves, will also see the bolstering.

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.

Terraform Labs has declared its opposition to paying the $5.3 billion fine levied by the American regulatory authority, pointing out that most investors in the TerraUSD (UST) stablecoin are based outside the U.S. It should be noted that the project saw a total of $40 billion in assets obliterated.

DeFi protocol Gyroscope introduced a yield-bearing version of its stablecoin, Savings GYD (sGYD), offering an annual return of approximately 12–15%, depending on market conditions.

The U.S. Securities and Exchange Commission (SEC) concluded its investigation into Paxos and its stablecoin, BUSD. Jorge Tenreiro, Acting Head of the Crypto Assets and Cybersecurity Division, privately informed the company of this decision on July 9.

Tether, the issuer of the USDT stablecoin, is set to invest another $1 billion over the next year in projects related to alternative financial infrastructure, artificial intelligence, and biotechnology.

Rune Christensen, the founder of MakerDAO, has introduced PureDai, a new stablecoin, alongside the previously announced NewStable (a temporary name), and shared more details about both.

Senators Cynthia Lummis and Kirsten Gillibrand have proposed a legislative framework for regulating payment-oriented stablecoins.

Ripple (XRP) has disclosed plans for launching its own stablecoin, which will be pegged to the dollar and backed by bank deposits along with short-term U.S. Treasury bills. This move aims to expand Ripple Payments' capabilities in facilitating cross-border transactions. The introduction of this stablecoin promises: