đŹď¸ SociĂŠtĂŠ GĂŠnĂŠrale's USDCV Stablecoin
đ Launch and Listing:
SociĂŠtĂŠ GĂŠnĂŠrale's crypto arm, SG-Forge, has launched its US dollar-pegged stablecoin, USD CoinVertible (USDCV), on Ethereum and Solana blockchains. Although it's mentioned to be listed on various crypto exchanges, there's no confirmation of it being listed on Bullish specifically.
đ Compliance and Oversight:
USDCV is designed to comply with the European Markets in Crypto-assets (MiCA) regulation and is licensed as an Electronic Money Institution (EMI) by the French AutoritĂŠ de contrĂ´le prudentiel et de rĂŠsolution (ACPR).
đ Reserve Custodian:
The Bank of New York Mellon Corporation (BNY) serves as the reserve custodian for USDCV, ensuring seamless integration between traditional and digital financial ecosystems.
đŹď¸ Tether's Plans for US GENIUS Act Compliance
đ New US-Specific Stablecoin:
Tether plans to launch a fully compliant US-specific stablecoin by late 2025 to adhere to the GENIUS Act rules.
đ Compliance Measures:
Tether will align with the GENIUS Act's transparency mandates, including audited reserves and enhanced regulatory disclosures.
đ Regulatory Framework:
The GENIUS Act sets a compliance baseline for stablecoin issuers, ensuring transparency and stability in the market .
#StablecoinNews #USDCV #MiCAregulation #TetherCompliance #CryptoStability
$USDC $USDT