Sri Lanka’s recent economic uncertainty seems to be the driving force behind its interest in cryptocurrency and the government’s new exploration into KYC technology. A report presented to Sri Lankan central bank governor Ajith Nivard Cabraal on Monday detailed the results of a now-completed Know-Your-Customer, or KYC, proof-of-concept project. The project Sri Lanka’s central bank, also known…
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Rostin Behnam said it was “critically important to have a primary cop on on the beat” of an emerging market that included cryptocurrencies and stablecoins. Acting chairperson of the Commodity Futures Trading Commission, or CFTC, Rostin Behnam has likened the government agency’s enforcement of the digital asset space to a beat cop on duty. At…
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The DFSA is establishing itself as an innovative regulator for the region by focusing on fintech and innovative technology. The Bitcoin Fund (QBTCu.TO), a closed-end investment vehicle based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA). The fund debuted on Nasdaq on June 23, 2021, and became the first listed…
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The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the law, these could funds may be retrieved if the account holders’ prove their…
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The UAE continues to be one of the friendliest jurisdictions worldwide for the digital asset industry. The Dubai Financial Services Authority (DFSA) has established a regulatory framework for investment tokens as part of its efforts to stimulate the digital financial and technological environment while also meeting market players’ demands and requirements. The DFSA is an…
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Crypterium’s cryptocurrency wallet application is available in more than 170 countries, the company says. British cryptocurrency services provider Crypterium is the latest crypto firm to secure registration from the United Kingdom’s Financial Conduct Authority (FCA). Crypterium officially announced on Monday that it has recently been registered by the FCA to provide cryptocurrency services to local citizens…
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The Bitcoin ETF approval has been the biggest, but by no means the only, policy-related story of the last week. The biggest regulatory story of the week, if not the year, has been the United States Security and Exchange Commission’s lack of opposition to the launch of the first-ever Bitcoin (BTC) exchange-traded funds, which took eight…
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The Nigerian central bank digital currency was originally slated for launch earlier this month, but it has been delayed. Nigerian President Muhammadu Buhari is set to officially introduce the country’s central bank digital currency (CBDC), the eNaira. The Central Bank of Nigeria (CBN) has published a document in which it reaffirmed its intention to introduce…
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As authorities in the EU are still discussing union-wide cryptocurrency regulations, a major U.S. bank has reportedly lobbied the Irish government to adopt its own rules for the space. BNY Mellon launched its digital asset business in Ireland this year to provide custodian services to institutional investors. Banking Giant BNY Mellon Calls for Irish Crypto…
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With a rise in distributed political discourse, nonfungible tokens can provide exciting new opportunities for self-governance. It seems that everyone — from corporate behemoths like Visa and Anheuser-Busch to socialite Paris Hilton and NBA legends Michael Jordan and Kevin Durant — has recognized the growing importance of nonfungible tokens (NFTs) for the 21st-century economy. World-renowned…
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