Stablecoin

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Stablecoin issuer Paxos has received in-principle approvals from the Financial Services Regulatory Authority to issue stablecoins in Abu Dhabi.</p>
 <p>Paxos, a cryptocurrency brokerage firm and <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> <a rel="noopener noreferrer nofollow" title="issue" href="https://thebittimes.com/tag/issue.html">issue</a>r, has secured two in-principle approvals of the Financial Services Regulatory Authority in Abu Dhabi.</p>
 <p>According to a press release on Nov. 29, 2023, the <a rel="noopener noreferrer nofollow" title="greenlight" href="https://thebittimes.com/tag/greenlight.html">greenlight</a> from the regulator allows the firm to <a rel="noopener noreferrer nofollow" title="issue" href="https://thebittimes.com/tag/issue.html">issue</a> U.S. dollar and other currency-backed <a rel="noopener noreferrer nofollow" title="stablecoins" href="https://thebittimes.com/tag/stablecoins.html">stablecoins</a>. The New York-headquartered company can now also offer crypto-brokerage and custody services in the region.</p>
 <blockquote class="wp-block-quote">
  <p>“Our in-principle approvals from the Financial Services Regulatory Authority, on the heels of our in-principle approval from the Monetary Authority of Singapore, solidify our commitment to pursuing international growth through regulated frameworks.”</p>
  <p>Paxos Head of Strategy, Walter Hessert</p>
 </blockquote>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Paxos to issue USD stablecoin in Singapore
 </div>
 <p>The expansion in Abi Dhabi comes just a few weeks after Paxos received in-principle approval to issue stablecoins pegged to the U.S. dollar in Singapore. The Monetary Authority of&nbsp;Singapore&nbsp;recognized the stablecoin as compliant with the regulatory framework proposed by the regulator even before its main provisions came into force.</p>
 <p>In early 2023 reports surfaced that the New York Department of Financial Services started investigating Paxos. Following the rumors, the firm <a rel="noopener noreferrer nofollow" title="issue" href="https://thebittimes.com/tag/issue.html">issue</a>d a statement, saying it had not been asked to withdraw its application for a national trust bank charter from the New York’s Office of the Comptroller of the Currency (OCC).</p>
 <p>A few days later, Paxos halted minting the Binance USD stablecoin following a Wells notice from the U.S. Securities and Exchange Commission.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitcoin miner returns to Paxos $500k in mistakenly paid fees
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/paxos-gets-the-greenlight-to-issue-stablecoins-in-abu-dhabi-tbt72153.html">https://thebittimes.com/paxos-gets-the-greenlight-to-issue-stablecoins-in-abu-dhabi-tbt72153.html</a></p>

Paxos gets the greenlight to issue stablecoins in Abu Dhabi

TheBitTimes

Các bài viết khác được xuất bản trên 30 thg 11, 2023

Bitcoin pre and post halving bull run to kick BTC toward $250,000

MicroStrategy Buys 16,130 Bitcoin As Holdings Surpass $1B Gains

Wormhole Secures $225 Million Funding at $2.5 Billion Valuation

Beyond the Hype of XRP and Cardano: The Crypto Market’s Best-Kept Secret

US Spot Bitcoin ETF Market Sees New Entrant as SEC Decision Looms

Grayscale Proposes GBTC Fund Amendment as Spot Bitcoin ETF Looms

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!