Australian Banks Pause Development of Ethereum-Based Stablecoin
National Australia Bank (NAB) has announced the cessation of development of its Ethereum-based stablecoin, despite announcing plans to launch the stablecoin just a year ago. According to reports, the development team behind the project is now involved in the development of Ubiquity stablecoin.
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The UK government has unveiled a 27-page draft legislation aimed at bringing cryptocurrency activities under formal financial regulation for the first time. This move seeks to foster innovation while protecting consumers by extending existing financial rules to digital assets like stablecoins, crypto exchanges, and custodial services.

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