The Financial Stability Board (FSB) says multifunction crypto-asset intermediaries (MCIs) are critical to the cryptocurrency ecosystem. However, their business models have vulnerabilities and risks that may negatively impact global financial stability. The FSB recommends a […]
The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by […]
Circle, the stablecoin issuer behind USD Coin (USDC), is teaming up with Tokyo-based financial services firm SBI Holdings to boost the adoption of USDC and Web3 services in Japan. Circle said it concluded a memorandum […]
Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach […]
UK Chancellor Jeremy Hunt has revealed plans for a cryptocurrency legislative initiative. The government aims to pass legislation to officially establish the Digital Securities Sandbox (DSS). The DSS will provide a controlled testing environment for […]
FTX founder and convicted fraudster Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. In a Nov. 21 […]
Binance founder Changpeng “CZ” Zhao will pay a $175 million release bond and agree to return to the United States 14 days before his Feb. 23, 2024 sentencing — possibly allowing him to return to […]
Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank […]
Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won’t be […]
IMF’s Georgieva urges global readiness for CBDCs at Singapore FinTech Festival. CBDCs are a potential cash replacement, enhancing resilience, and promoting financial inclusion. IMF introduces CBDC handbook and acknowledges BIS’s role in global digital finance […]
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