New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable leaders such as China and the European nations pushing forward. The U.S. remains lagging behind Europe and…
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The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing significant reforms to address the evolving digital asset landscape. Christina Rolle, Executive Director of the Securities Commission, emphasized…
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The Bahamas, the first country to issue a central bank digital currency (CBDC) called the Sand Dollar, is preparing regulations to mandate commercial banks to provide access to the e-money to boost adoption. Central Bank Governor John Rolle indicated that these regulations would be implemented within two years. “We’ve begun to signal that to our…
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Bahamian Prime Minister Philip Davis says that the island nation will continue to maintain its pioneering role in the digital asset space and stressed on the importance of innovation to adapt emerging trends in fintech and decentralized finance (DeFi) advancements. The pro-crypto leader emphasized that the digital asset industry “is here to stay,” despite criticizers…
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In a recent report released on Tuesday, undisclosed sources detailed that the firm behind the top stablecoin in market cap, tether (USDT), is now banking with Britannia Bank & Trust. In the past month, tether’s supply has dipped by 1.3%, leaving 82.85 billion USDT in circulation. Undisclosed Sources Say Tether Is Working With a Privately…
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On July 26, the Department of Justice (DOJ) informed federal judge Lewis A. Kaplan that they “do not intend to proceed” with a campaign finance charge against FTX founder Sam Bankman-Fried. This decision came after consulting with The Bahamas regarding the campaign finance charges mentioned in Bankman-Fried’s extradition document last year. … Read More: DOJ Drops…
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In a court filing released Wednesday, the U.S. Department of Justice dropped campaign finance charges against disgraced FTX co-founder Sam Bankman-Fried. Prosecutors said the charges were dropped in accordance with U.S. treaty obligations to the Bahamas. Sam Bankman-Fried Cleared of Campaign Finance Charges Campaign finance charges against Sam Bankman-Fried, co-founder and former CEO of FTX,…
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On Tuesday, U.S. district judge Lewis Kaplan rejected Sam Bankman-Fried’s attempt to dismiss criminal charges against him. Bankman-Fried claims he was charged in a manner that violates the “rule of specialty” as far as the extradition treaty between the Bahamas and the United States is concerned. Judge Throws Out Bankman-Fried’s Motion to Dismiss Disgraced FTX…
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Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing…
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While many countries have sped up their efforts to regulate cryptocurrencies following a crisis-filled 2022, most still lack a clear framework for the industry to build around. As cryptocurrencies continue to become a bigger part of the global economy, more and more governments are exploring ways to regulate the industry and construct rules for firms…
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