The U.K. regulators have been busy publishing more detailed plans for the country’s upcoming stablecoin regulation, following last week’s Treasury announcement of which entities would be responsible for various aspects.

The payment firm reported on Wednesday that it had received a subpoena from the SEC requesting information on its PYUSD stablecoin.

The last three months of Tether's operations added nothing to its balance sheet, while declared profits were invested in other projects.

In legislation planned to go to parliament in 2024, fiat-backed stablecoins will be regulated for use in payment chains, although decentralized and algorithmic stablecoins will remain unregulated until the second phase of government plans.

The Universal Digital Payments Network allows blockchain-based stablecoins and CBDC networks to interoperate with each other. Deutsche Bank and SC Ventures have been testing the system with on-chain swaps using USDC and EURS stablecoins.

MakerDAO's recent launch, the Spark Protocol, offers enticing yields, drawing significant attention in the DeFi space. But with big players like Aave and Compound around, it's got to work hard to stand out and stay ahead.

The Bitcoin L2 developers have released the alpha version of the Taproot Asset protocol, which allows the building of stablecoins on top of the Bitcoin blockchain.

Frax Finance is ready to deploy the v3 upgrade. The upgrade integrates the Federal Reserve's IORB rate and abandons the stablecoin's algorithmic component for enhanced stability.