Market Watch | Bitcoin | $10,508 | 7 day: -3.2% | | Ethereum | $345 | 7 day: -5.8% | | All crypto | $333b | 7 day: -4% | | Bitcoin dominance | 58.3% | 7 day: +0.4% | Prices as of 4:45 p.m. EDT
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 SEC statement The U.S. Office of the Comptroller Currency (OCC) and the SEC publish guidelines for banks and saving associations regarding stablecoins. - Popular stablecoins backed by U.S. fiat reserves include Tether (symbol: USDT), USD Coin (symbol: USDC), Gemini Dollar (symbol: GUSD), and Binance USD (symbol: BUSD).
- The OCC and the SEC published detailed guidelines on the lawful custody of stablecoin reserves on September 21.
- The OCC clarifies the authority of national banks and federal savings associations to hold reserves on behalf of stablecoin issuers.
- Acting comptroller of the Currency Brian P. Brooks said he will provide regulatory certainty for banks that deal with such clients.
- The SEC published an interpretation of the OCC FinHub statement, mentioning how the OCC has limited its interpretation to holding stablecoin reserves as a service to bank customers.
- The OCC only addressed the banking custody of stablecoin reserves, not trading regulations associated with exchange transactions.
- The SEC also notes that the letter refers to stablecoins backed by fiat currencies on a 1:1 basis.
- Senior Deputy Comptroller Jonathan Gould's letter reiterates that the OCC's clarification has made it easier for federally regulated banks to provide services to stablecoin issuers, but the OCC does not have authority over stablecoin trading activity.
Coindesk 
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PBoC magazine highlights the importance of being the world's "first" central bank digital currency (CBDC) issuer. - A magazine by the People's Bank of China, China Finance, has published an article emphasizing the importance of launching a digital currency.
- The article mentions the advantages of being the "first" country to launch a CBDC, even though many other countries have already issued CBDCs, including the Bahamas and the Marshall Islands.
- PBoC indicates that in order to internationalize the yuan (renminbi) and reduce its dependency on the global USD payment system, China needs to issue a digital currency.
- Global trade denominated in USD exceeds RMB settlements by 10X; 90% of forex conversions involve USD.
- PBoC claims to have applied for 130 patents and is working with commercial enterprises on its digital yuan, which it is calling Digital Currency/Electronic Payment (DC/EP).
Reuters
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 Governor of the Philippine Central Bank Benjamin Diokno Philippines Central Bank's Governor says a CBDC could help with the delivery of financial services. - Benjamin Diokno, Governor of the Philippine Central Bank, said that the technologies underpinning digital tokens could aid financial services. The country's regulators are studying the possibility of CBDC issuance.
- In an email reply received by Bloomberg news, Diokno mentioned that digital tokens have extensive reach and help reduce costs for financial services, which could ultimately bring down the use of fiat money by the central bank.
- According to Diokno, the Philippines' digital currency will include protections regarding price stability and legal redresses.
- The Philippine Central Bank will also evaluate its impact on the existing digital stablecoin market abroad.
Bloomberg
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 A retail JD.com storefront JD.com and PBoC form a strategic collaboration to co-develop blockchain apps for the country's CBDC. China's PBoC calls its digital yuan (renminbi) CBDC its Digital Currency/Electronic Payment (DC/EP). - Chinese e-commerce giant JD.com and the People's Bank of China (PBoC) have announced a collaboration to create mobile and blockchain-based platforms for the Chinese central bank currency, Digital Yuan project according to a local news report dated September 21.
- The platform will serve as technical infrastructure underpinning DC/EP. Both entities will work on developing an online/offline functionality for upcoming products, including a digital wallet.
- We previously reported on a state-sponsored bank in China that accidentally released a DC/EP wallet.
- Online retailer JD.com (NASDAQ:JD) is a member of the NASDAQ-100 index as well as a Fortune Global 500 company that generated revenue exceeding $82b in 2019. Its American Depositary Shares are traded on the NASDAQ exchange. It expects to use DC/EP for retail payments in China through its mobile apps.
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German lawmakers reject a proposal to implement state projects on blockchain. - Germany's Free Democrats group known as FDP proposed a bill to integrate blockchain technology into large-scale state projects, which was dismissed in Bundestag. It did not attract sufficient support from any of Germany's parliamentary groups.
- The bill would have enabled German citizens to view audit trails and provide feedback. It urged the government to fund projects using a publicly auditable blockchain.
- According to FDP, utilizing an open blockchain could help regain the state's confidence following the recent Berlin Brandenburg Airport fiasco during which an entire airport remained unfinished amid obvious mismanagement of funds, with customers experiencing lengthy delays.
Coindesk
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Figure Technologies Inc., which builds blockchain technology that it hopes will unlock home equity value, has launched a digital fund on the blockchain. - Figure's Digital Fund Services platform combines tools for digital fundraising and on-going fund management with a marketplace utilizing its so-called Provenance blockchain.
- Figure Inc.'s first investment partner, Friends & Family II L.P., is a venture capital fund.
- The CEO of Figure Technologies Inc. is Mike Cagney, who also co-founded SoFi whereas. Morgan Creek Digital's Anthony Pompliano is a board member.
Figure
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 Juan Guaidó Venezuelan health workers struggle to receive government-declared crypto relief from Airtm. - Venezuelan health care workers are still waiting for funds from "Héroes de la Salud Program," which was announced by Venezuelan opposition leader Juan Guaidó.
- Guaidó claimed that approximately $19m would be distributed through Airtm's stablecoin, AirUSD.
- On August 20th, Juan Guaidó opened the registration process for 62,000 health care workers, who would purportedly receive $100 apiece as monthly bonuses in digital wallets provided by the Airtm exchange. However, the platform was reportedly blocked by Nicolás Maduro's government the following day.
- Venezuelan healthcare personnel have not been able to properly register on the platform. The few who somehow managed to register have not yet received any funds.
Coindesk
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Quick Hits: - A collector purchased a non-fungible token (NFT) digital art piece called "Right Place & Right Time," created by digital artist Matt Kane, for $101,100 on the blockchain platform Async Art on September 19. It is the most expensive blockchain art piece sold to date at auction. The gallery's description mentions that the art composition changes based on Bitcoin's volatility and price movement every 24 hours.
- BitFlyer cryptocurrency exchange subsidiary, bitFlyer Europe, announced an integration with PayPal on September 21.
- The government of India's Tamil Nadu state will soon release three segment-specific policies based on ethical AI, blockchain, and cybersecurity practices, according to Chief Minister Edapaddi K Palaniswami's speech. Local news outlets reported that the blockchain policy will help build a so-called Blockchain Backbone Infrastructure in Tamil Nadu.
- Xage Security won a contract from the U.S. Space Force (USSF) to prepare and launch an end-to-end data protection system across military and civilian networks.
- Popular financial television network RealVision launches a crypto tier.
- Brands see 18.5% of e-commerce revenue from SMS marketing. See 6 top SMS campaigns here.*
*This is a sponsored post.
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 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Edited by Eduardo Garcia in New York. Eduardo is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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