International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to implement. IMF’s Chief Calls for More Crypto Regulation IMF Managing Director Kristalina Georgieva talked about crypto regulation Saturday on the sidelines of…
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The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards…
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India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation of a coordinated and comprehensive policy approach to crypto assets,” said India’s…
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The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation.” IMF Executive Board Provides Guidance on…
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U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto…
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According to the legal team representing Sam Bankman-Fried, prosecutors had no objections to continuing his bail conditions until the firm could choose a suitable technical expert. Lawyers representing former FTX CEO Sam Bankman-Fried in federal court have requested an extension to file a proposal related to his bail conditions. In a Feb. 24 filing with…
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A top South Korean financial regulator has launched a probe into domestic crypto staking services. And crypto exchanges are concerned this means new staking-related regulations could be incoming. The media outlet News1 reported that the Financial Supervisory Service (FSS) has “recently requested” that some of the country’s top exchanges cooperate with an investigation into their…
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The Kenyan Senate’s Information, Communication and Technology committee has said it is ready to engage the Central Bank of Kenya (CBK) and other stakeholders in shaping the country’s policy towards crypto assets and virtual asset service providers. According to the committee, such a policy helps govern the use of crypto assets in the country “to…
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Part of the FATF’s ‘Travel Rule’ includes recommendations that financial institutions obtain information on the originators and beneficiaries of certain crypto transactions. The Financial Action Task Force, or FATF, reported its delegates had come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies. In a Feb. 24…
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U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected bureaucrats” from “stripping Americans of their right to financial privacy.” The bill also prohibits the Federal Reserve “from issuing a CBDC directly to anyone.” CBDC Anti-Surveillance State Act Introduced U.S. Congressman Tom Emmer (R-MN) announced…
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