Author: Wei Xiang

  • [FCA] Stablecoin Issuance and Cryptoasset Custody

    [FCA] Stablecoin Issuance and Cryptoasset Custody

    In this Consultation Paper (CP) we are consulting on proposed rules and guidance for the activities of issuing a qualifying stablecoin and safeguarding qualifying cryptoassets, including qualifying stablecoins. This CP follows Discussion Paper (DP23/4) on our proposed approach to regulating stablecoins, which may be used for payments. Our proposals have been guided by our statutory… Read more

  • [Steakhouse Financial] Stablecoins – The Practitioner’s Guide

    [Steakhouse Financial] Stablecoins – The Practitioner’s Guide

    Stablecoins issue a foundational promise: Any holder should be able to redeem one stablecoin for one U.S. dollar, at any moment, without a haircut and minimal friction. Fulfilling this promise of parity rests on the pillars of sound asset management, reserve transparency, operational excellence, liquidity, custodial integrations, developer accessibility, and hard-won regulatory licenses. “Unless you… Read more

  • [BCG] Stablecoins – Five killer tests to gauge their potential

    [BCG] Stablecoins – Five killer tests to gauge their potential

    Stablecoins are having a breakout moment, with economic, strategic, and regulatory fundamentals driving adoption. Five killer tests can help market participants gauge their long-term potential. Do stablecoins offer incremental value compared with existing forms of money movement? In stark contrast to existing payments infrastructure, the potential that stablecoins offer to create incremental value is often… Read more

  • [SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting​

    [SoDA] Bridging Borders: SoDA’s Role in International Crypto Accounting​

    The number of ‘crypto native’ and traditional businesses that transact with digital assets has seen unprecedented growth in recent years. This adoption of a new asset class has necessitated an increased focus on accounting for tax reporting and operations management purposes; however, international accounting practices continue to evolve, and the systems required to convert on-chain… Read more

  • [LF DECENTRALIZED TRUST] Central Bank Digital Currencies

    [LF DECENTRALIZED TRUST] Central Bank Digital Currencies

    As central banks around the world explore and test the uses, viability, and needs for a central bank digital currency, they are increasingly turning to distributed ledger technologies (DLTs). DLTs hosted by LF Decentralized Trust, which are built in the open with vendor-neutral governance, are widely deployed in production networks in other sectors. They are… Read more

  • [Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025

    [Congressional Research Service] Stablecoin Legislation: An Overview of S. 1582, GENIUS Act of 2025

    The GENIUS Act of 2025 (S.1582) aims to establish a comprehensive federal framework for regulating payment stablecoins—digital assets pegged to a fixed value (e.g., $1) and used for payments or settlements. Although the Senate did not advance the bill on May 8, it outlines key proposals that may shape future legislation. Key Requirements for Issuers… Read more

  • [bozhangles] Financial Anatomy of a Token Launch

    [bozhangles] Financial Anatomy of a Token Launch

    CEX Listing Fees A basic trio many go with is MEXC, Gate, Kucoin, so you’re looking at $500k minimum. Market Making Fees Retainer (passive) is usually the most transparent model, but can cost 520k/month. Let’s average that to $10k/month, and you’re looking at $120k/year. MM Inventory When your token gets listed on a CEX, the… Read more

  • [zodia] The Age of Stablecoins: Digital Money Meets Institutional Scale

    [zodia] The Age of Stablecoins: Digital Money Meets Institutional Scale

    Over the past decade, the evolution of stablecoins has accelerated at an extraordinary pace, reshaping the financial services landscape in ways few could have anticipated. This report offers an in-depth look at the transformative role stablecoins are now playing across payments, trade, savings, and the broader tokenisation of assets, and examines how this will shape… Read more

  • [ISCA] Pudgy Penguins Versus Dogecoin

    [ISCA] Pudgy Penguins Versus Dogecoin

    Key Takeaways Read more

  • [HKMA] Government welcomes passage of the Stablecoins Bill

    [HKMA] Government welcomes passage of the Stablecoins Bill

    On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin (FRS) issuers. The new law requires any entity issuing an FRS in or related to Hong Kong to obtain a license from the Monetary Authority (MA). Licensed issuers must meet stringent requirements, including proper reserve asset… Read more