MakerDAO plans against sanctions from USDC exposure

Following Circle’s freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. On August 8, issuers of USDC stablecoin Circle froze USDC tokens belonging to 38 wallet addresses blacklisted by the U.S. Treasury Department. One of the wallets was identified as a DAI Tornado pool. As a result, there … Read more

GHO Stablecoin to be launched as Aave DAO gives a 99.9% approval

A governance proposal to create a crypto-backed stablecoin on the Aave protocol has been unanimously approved by the Aave community in a snapshot voting which lasted till Sunday. On July 7, 2022, a proposal was introduced by Aave Companies (development team of Aave protocol) for the launch of GHO, an overcollateralized and US dollar-pegged stablecoin. … Read more

Banks’ exposure to risky cryptocurrencies should be limited to 1%, Basel Committee proposes

The consultation paper proposes dividing crypto assets into Groups 1 and 2. Group 1 consists of tokenized traditional assets such as stocks issued on the blockchain and stablecoins that meet classification requirements. The classification requirements include passing a redemption risk and basis risk tests. The redemption risk test ensures that the stablecoins are redeemable at … Read more