Bank | Crypto

The Bank of Korea, South Korea’s central bank, is still lukewarm on proposals to launch a won stablecoin despite a recent meeting with the USD Coin (USDC) issuer Circle. The post Bank of Korea Still Skeptical About Won Stablecoin Issuance Despite Circle Meeting appeared first on Cryptonews.

Bank of America CEO Brian Moynihan confirmed the lender plans to issue a dollar-pegged stablecoin and is working on an internal build conducted alongside other industry participants, Reuters reported on June 11. However, Moynihan added that any progress in a potential launch would be contingent on forthcoming federal rules. He also told investors the bank […] The post Bank of America eyes dollar-pegged stablecoin amid Senate fast-tracking GENIUS Act appeared first on CryptoSlate.

MiCA has had a limited impact on the adoption of compliant stablecoins in Europe, strengthening the need for the digital euro, Bank of Italy Governor Fabio Panetta said. Former European Central Bank (ECB) official and Governor of the Bank of Italy, Fabio Panetta, touted the digital euro as a key tool for controlling the risks of increasing cryptocurrency adoption. The Bank of Italy, on May 30, released an annual report with the governor’s concluding remarks on the state of the economy. Panetta said the European Union must move forward with the central bank digital currency (CBDC) project to maintain financial stability and meet demand for secure digital payments. “We would be remiss to think that the evolution of crypto-assets can be controlled only through rules and restrictions,” Panetta said, warning that crypto regulation alone cannot address the systemic risks posed by crypto, and that the digital euro would be key to addressing them. Read more

Bank of Korea’s deputy governor warned the rising stablecoin use could undermine monetary sovereignty and financial stability.