Cryptocurrency Digest Jul 17, 2021: News, Analysis & Opinions

 El Salvador intends to introduce its own steblecoin

This was announced by the country's presidential brothers Ibrahim and Yousef Bukele. At the same time, a representative of the Salvadoran government told the local edition of El Faro that they refused to do so. At the same time, the newspaper, citing an anonymous source, wrote that the plan will still be implemented.

 U.S. authorities will discuss stablcoins

U.S. Treasury Secretary Janet Yellen said she will convene a working group of influential federal regulators to discuss the issue of stablcoins.

Recall that earlier U.S. Federal Reserve Chairman Jerome Powell called for stricter regulation of stablocoins.

 Terra raised $150 million

South Korea-based Terraform Labs, the company behind blockchain development Terra, has raised $150 million in investment. Investors included Arrington XRP Capital, Pantera Capital, Galaxy Digital, BlockTower Capital and others.

Terra is a blockchain based algorithmic stackcoin, the most popular of which is TerraUSD.

 Japanese authorities intend to regulate stablcoins more strictly

Some lawmakers believe that stablcoins pose a threat to the country's financial stability.

 At the same time, Japan's central bank has begun experimenting with its own digital currency, considering it a better and safer form of cryptocurrency