The report is only the start of the discussion and raises more questions before officially studying the digital euro. The European Central Bank (ECB) could begin seriously considering and studying the digital euro by mid-2021, the bank said in a report released Oct. 2. The report examined how a digital euro may impact retail payments…
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Bitcoin price declined by 4% after the CFTC revealed charges against BitMEX but BTC remains bullish in the long term. Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred…
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Local authorities hope that tackling the issue will restore trust in the e-residency program. The e-residency program of Estonia is now under the local regulator’s radar as foreigners registered as e-residents of the Baltic nation are being linked to cryptocurrency frauds. The local police’s Financial Intelligence Unit has discovered that overseas companies owned by e-residents…
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In issuing a no-action letter, the SEC took a more nuanced position on virtual assets. The U.S. Securities and Exchange Commission (SEC) took a major step toward streamlining digital asset securities settlement by compressing the previous four-step process into three in a bid to reduce operational risk for broker-dealers. The SEC issued a no-action letter…
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But there is always a catch when it comes to Maduro’s government. Venezuela’s National Superintendency of Crypto Assets and Related Activities, or SUNACRIP, has issued the first decree to officially regulate all crypto mining activities. In order to qualify, miners will need to meet specific requirements. An official announcement was first published in the Gaceta…
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Colombia takes another important step towards regulating the nation’s crypto sphere. The government of Colombia has approved on September 22 a pilot program that calls companies to test crypto transactions until December 31 within the regulatory sandbox just passed by the country’s financial watchdog. During a panel titled “Overview of the Regulation of Crypto Assets…
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“A digital euro could be a complement to, not a substitute for, cash,” Lagarde said. Any digital currency released in the European Union may not fully replace fiat, said the President of the European Central Bank, Christine Lagarde. Speaking at an online meeting of the Franco-German Parliamentary Assembly on Sept. 21, Lagarde stated that the…
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China’s central bank aims to challenge the global financial status quo. The People’s Bank of China is placing a strong emphasis on the geopolitical stakes of the country’s central bank digital currency development. An article published in the PBoC-run magazine China Finance this weekend argued that Beijing should “accelerate the pace [of CBDC development] to…
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The leaked documents show many banks ‘enabling’ money laundering. Leaked documents from the U.S. Financial Crimes Enforcement Network (FinCEN) imply that the agency’s revamped efforts to identify illicit transactions and money laundering may not be sufficient. But on this occasion, the institutions described as being at fault are not crypto exchanges, but some of the…
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Once again, Gibraltar is taking the lead in crypto regulations. The Gibraltar Financial Services Commission (GFSC) has updated its regulations governing the operation of distributed ledger technology (DLT) providers to include the latest Financial Action Task Force (FATF) rules. The GFSC said this is in response to blockchain’s fast-moving nature, especially as the agency seeks…
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