Global #stablecoins.

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has announced that it will close all customer accounts in Canada effective December 31, 2024. This decision was communicated to Canadian users via email on September 30, giving them a 90-day window to withdraw their assets from the platform.

The stablecoin market is rapidly evolving, currently valued at over $155 billion with major players like Tether's USDT and Circle's USDC leading the charge. Recent reports suggest that Robinhood, a popular crypto-friendly stock trading platform, is exploring the launch of its own stablecoin as part of its broader cryptocurrency offerings.

The Canadian Securities Administrators (CSA) have once again extended the deadline for crypto trading platforms (CTPs) to comply with regulations concerning stablecoins, marking the second such extension.

In a recent development reported by Bloomberg, TrueCoin and TrustToken have reached an in-principle settlement with the U.S. Securities and Exchange Commission (SEC) concerning misleading statements about the backing of their TrueUSD stablecoin.

Crypto giants Robinhood and Revolut are exploring the possibility of launching their own stablecoins, according to unnamed sources cited in a Bloomberg report.

This week, Tether has made headlines by issuing an additional $1 billion in USDT on the Ethereum blockchain, bringing its total market capitalization to approximately $119 billion.