ChainCatcher news, according to techinasia, the Hong Kong Legislative Council discussed the proposed "Stablecoin Bill" on January 23. This was the first meeting on the bill since its first reading on December 18, 2024. Key officials, including Francis Ho, Deputy Secretary for Financial Services and the Treasury, outlined the regulatory framework for stablecoins.The bill requires issuers to obtain a license from the Hong Kong Monetary Authority (HKMA) and maintain reserves of high-quality, highly liquid assets. The proposed legislation aims to ensure compliance and stability, supporting Hong Kong's strategy to attract international cryptocurrency companies.On the same day, the Legislative Council subcommittee reviewed the licensing framework for cryptocurrency trading platforms.

ChainCatcher news, according to the Economic Daily, the Financial Supervisory Commission (FSC) of Taiwan plans to propose a draft law for virtual asset service providers (VASP) in June 2025, allowing banks to issue stablecoins for the first time.FSC Chairman Peng Chin-long stated that stablecoins will serve as a bridge between fiat currency and virtual currency, providing investors with a trading entry point. All stablecoins issued in Taiwan must be approved by the FSC, including requirements for issuance qualifications and reserves. This policy will be coordinated with the central bank to clarify the distinction from CBDC and assess the application of stablecoins in the real economy.

ChainCatcher news, USDh developer Hermetica (a stablecoin built on Bitcoin's second layer Stacks) has completed a transaction that brings approximately $3 million in liquidity to the token.Hermetica and the Bitcoin lending protocol Zest plan to provide USDh yield through sBTC lending.

ChainCatcher news, according to DeFiLlama data, in the past 7 days, the market capitalization of stablecoins on the Solana chain has increased by 69.36%, surpassing 10 billion USD, reaching 10.183 billion USD, with USDC accounting for over 80%.

ChainCatcher message, Binance Futures will launch new features for BFUSD, which will be available on the Binance web and Binance App on January 22, 2025. In addition to USDT, users can now purchase BFUSD using USDC. Users can also choose to redeem their held BFUSD for USDT or USDC.Additionally, new pre-purchase and pre-redeem features have been added. When there is a shortage of BFUSD, USDT, or USDC, users can pre-purchase BFUSD and pre-redeem USDT or USDC.

ChainCatcher news, DefiLlama data shows that the total market capitalization of stablecoins has surpassed 210 billion USD, reaching 212.989 billion USD, a new all-time high.In the past week, the total market capitalization of stablecoins grew by 3.02%, with USDT's market share at 65.18%.

ChainCatcher news, according to Bloomberg, Circle CEO Jeremy Allaire stated that stablecoin regulation is a top priority and expects to see an executive order on cryptocurrency soon.He also mentioned that Mark Uyeda being selected as the SEC acting chairman is an excellent choice.

ChainCatcher news, according to Veronika Rinecker, the European Securities and Markets Authority (ESMA) has ordered crypto asset service providers (CASP) to delist stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA). Although ESMA did not specify which non-compliant issuers or stablecoins should be restricted, this move follows the guidelines from the European Commission in July 2024, aimed at clarifying how MiCA applies to crypto assets involving non-compliant stablecoins.Prior to this, the European Banking Authority (EBA) had urged stakeholders to assess the MiCA compliance of the tokens they offer and to cease providing services related to non-compliant assets.It is reported that MiCA will come into effect on June 30, 2024, establishing a regulatory framework for the issuance and trading of asset-referenced tokens (ART) or stablecoins and electronic money tokens (EMT).

ChainCatcher news, according to the Bangkok Post, former Thai Prime Minister Thaksin Shinawatra announced at the ASEAN Economic Forum that Thailand will launch a cryptocurrency regulatory sandbox program in Phuket in October 2025. The program will focus on the application of stablecoins to balance innovation and risk, and will initially be piloted in the tourism sector.Thaksin emphasized Thailand's leading advantage in the region, especially in the context of Trump's support for cryptocurrencies. Gulf Binance CEO Nirun Fuwattananukul stated that the sandbox model will provide a controllable environment for cryptocurrency applications for businesses and consumers while ensuring regulatory effectiveness.

ChainCatcher news, according to PR Newswire, the cryptocurrency derivatives exchange Bitnomial announced plans to launch a derivatives clearing organization and stablecoin clearinghouse Bitnomial Clearinghouse regulated by the Commodity Futures Trading Commission (CFTC) on January 30, 2025.It is reported that during the transition period, Bitnomial will gradually cease trading of old clearing products on its platform, including processing all legacy contracts expiring on January 29 and listing all BNCH clearing contracts on January 30, involving physically settled Bitcoin futures and options.

ChainCatcher news, according to Lookonchain monitoring, large holders are buying and going long on SOL. One large holder purchased 11,824 SOL for $2.49 million and withdrew 18,527 SOL (approximately $3.94 million) from Binance, subsequently depositing the SOL into Kamino to lend stablecoins.Currently, the large holder has deposited 144,817 SOL (approximately $30.44 million) into Kamino and lent out $20 million in stablecoins.

ChainCatcher news, Tether has launched the cross-chain dollar stablecoin USDT0, aimed at extending USDT to new blockchains, providing a seamless experience for users and developers, while always maintaining a 1:1 peg with USDT on Ethereum. USDT0 is built using LayerZero's OFT standard for deploying and transferring assets on new chains.USDT0 was launched today on Kraken's L2 platform Ink and will be launched soon on Berachain and MegaETH.

ChainCatcher news, according to a report from the stablecoin issuer Circle, the issuance of USDC is expected to grow by 78% in 2024. Currently, USDC has over 500 million users. In November 2024, the monthly trading volume of USDC exceeded $1 trillion, bringing its historical total trading volume to over $18 trillion.

ChainCatcher news, according to official sources, the FDUSD stablecoin is now live on Solana.FDUSD is a stablecoin backed by First Digital with US dollars and dollar equivalents (such as US Treasury bills). As of January 13, over $1.7 billion of FDUSD has been issued on Ethereum, BSC, and Sui.

ChainCatcher news, according to The Block, a report released by blockchain analysis company Chainalysis shows that stablecoins will continue to dominate the illegal trading volume in 2024.The report indicates that, based on current metrics, the value obtained by illegal crypto addresses will reach $40.9 billion by 2024. However, as Chainalysis continues to adjust its metrics, identifying more illegal addresses and incorporating historical activities into its estimates, this figure is expected to reach $51.3 billion this year.Additionally, stolen funds are projected to increase by approximately 21% year-on-year in 2024, reaching $2.2 billion. The report states that the largest portion of stolen funds comes from DeFi services, while centralized services were "most vulnerable to targeting" in the second and third quarters of last year. For the entire year, private key leaks accounted for 43.8% of stolen cryptocurrencies.