CoinStats - Sonic Labs Scraps Plans for Algorithmic USD S...

CoinStats - Sonic Labs Scraps Plans for Algorithmic USD S...

Sonic Labs has called off the launch of an algorithmic USD stablecoin because of the new regulations in the U.S. The current proposed STABLE Act includes a ban on algorithmic stablecoins for two years. Andre Cronje agreed with the decision and mentioned previous disappointments such as TerraUSD. Sonic Labs has officially withdrawn its plans to release a USD-denominated algorithmic stablecoin less than a week after first hinting at the project. T…

Sonic Labs Drops USD Algorithmic Stablecoin Plans, Eyes UAE Dirham Launch

Sonic Labs shifts focus to a UAE dirham-backed stablecoin, avoiding algorithmic risks. The UAE’s digital dirham rollout in 2025 influences Sonic Labs’ new stablecoin strategy. Regulatory concerns led Sonic Labs to abandon USD stablecoin and opt for UAE dirham. The blockchain technology firm Sonic Labs dropped its US dollar stablecoin initiative to focus on developing a stablecoin linked to the United Arab Emirates dirham. Sonic Labs revealed its…

Latest Sonic Labs Drop USD Stablecoin Plan Amid US Regulations – Here’s Why! in Cryptocurrency - Doulitsa Press Release Submission

Bitcoin Sonic Labs has suddenly dropped its plan to launch a USD-backed algorithmic stablecoin, shifting its focus to a UAE dirham-backed alternative. The decision comes as stablecoin regulations tighten in the US, thus, the company is shifting its focus to the United Arab Emirates (UAE) dirham. Sonic Labs’ Sudden U-Turn Just a week after hinting at launching a USD-based algorithmic stablecoin with an annual percentage rate (APR) of up to 23%, S…