NY stablecoin issuers Gemini, Paxos have to ensure 100% reserves daily under new guidelines

The NY Department of Financial Services (DFS), which oversees regulated crypto companies in the state, on June 8 released formal guidelines for United States dollar-backed stablecoin issuers. The post NY stablecoin issuers Gemini, Paxos have to ensure 100% reserves daily under new guidelines appeared first on CryptoSlate.

Timeline of Paxos-standard

The Travel Rule Universal Solution Technology (TRUST), originally a group of five U.S. companies building an anti-money laundering (AML) system for cryptocurrency transactions, has grown its membership to over 30 firms and expanded its jurisdictional footprint to include Canada and Singapore.

Nubank is starting off its crypto trading services with just Bitcoin and Ethereum, but the list will be expanded to include other digital currencies soon.  Crypto Trading For Nubank Users The Brazil-based digital services bank is finally embarking on providing crypto trading services across its customer base in the native market.

Brazil-based digital bank, Nubank has launched cryptocurrency services in its native market. It is now offering customers to buy, sell, and hold two cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology.

Neutrino USD (USDN), an algorithmic stablecoin within the Waves blockchain ecosystem, slipped below its U.S. dollar peg after the largest algorithmic stablecoin, TerraUSD (UST), tumbled early Wednesday to as low as 23 cents.