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The POSA updated its staking principles to say that providers should communicate clearly and should not control the amount of liquidity a user must provide. The Proof of Stake Alliance (POSA), a non-profit organization that represents firms in the crypto staking industry, published an updated version of its “ staking principles” on Nov. 9. The new principles are supported by Ava Labs, Alluvial, Coinbase, Lido Protocol, Paradigm, and ten other staking industry firms. Previous version of the POSA staking principles. Source: POSA. POSA represents 15 different firms in the staking industry, including Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment, Infstones, Kiln, Lido Protocol, Luganodes, Methodic, Obol, Polychain, Paradigm, and Staking Rewards. The staking principles were first published in 2020. According to the blog post that announced them, the POSA staking principles are meant to be “a set of industry-driven solutions” that provide rs can implement to addr...

The UK government has rolled out proposals on how to regulate fiat-backed stablecoins. Crypto companies that want to offer services with overseas stablecoins like Tether (USDT) in the UK must get permission from the Financial Conduct Authority (FCA). According to the update on plans for regulating fiat-backed stablecoins, fiat-backed stablecoins issued in or from the UK by authorized persons will be permitted for use in the country. The government also said it “wishes to accommodate” overseas fiat-backed stablecoins for goods and services but insisted that brokers or payment providers willing to work with these stablecoins will still have to be authorized by the FCA. You might also like: UK politician calls on FCA to be less aggressive on crypto ads Under the proposed update on the legislation, the FCA will also be able to rule the issuance and custody of fiat-backed stablecoins issued in or from the UK. Those stablecoins not backed by fiat “will still...