314.5K @RWAwatchlist_ 🚨 BREAKING: 🇬🇧The Bank of England says it’s open to revising its proposed stablecoin rules after industry pushback.
Officials are reconsidering limits and reserve requirements for pound-backed stablecoins.
BULLISH FOR MARKETS 🚀 https://t.co/01K6mjmc2i
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2.9M @Cointelegraph 🇺🇸 ADOPTION: Florida’s Senate passed SB 314 in a 37–0 vote to establish a regulatory framework for stablecoin issuers. https://t.co/AldzvsV812
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38.9K @Cryptowushi Exchanges regularly publish reserve proofs to showcase their reserve ratio.
Through the reserve proof, one can see in detail the quantity of various assets held by #Binance and the health of those assets.
Especially since the current market conditions are poor, a solid reserve proof helps stabilize user confidence.
Although Binance recently faced overseas FUD, the reserve proof indicates it was not affected.
It is necessary to explain what a reserve proof is.
In fact, since the FTX incident, more and more exchanges have recognized the importance of reserve proofs (some have been publishing them since early on).
A reserve proof essentially verifies the assets under custody: for example, if a user deposits 1 ETH, Binance must reserve 1 ETH, thereby ensuring a 1:1 ratio between user deposits or liabilities on Binance and the actual assets.
447.2K @binancezh #币安 The latest reserve proof has been updated 🔐
🛡️ Asset reserves consistently exceed a 1:1 guarantee for user funds
New reserve assets this month: #USD1 103.13% #U 100.05%
The reserve report is updated monthly, transparent and verifiable: https://t.co/jNHedmRSY8 https://t.co/gCY2BcciYh
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TrueUSD is a USD-backed ERC 20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform. TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
