Reserve Bank of India (RBI) Governor Shaktikanta Das has revealed that India’s central bank digital currency (CBDC) now has around 1.5 million users. In addition, over 300,000 merchants are currently accepting payments in digital rupees, and the pilot is being operated through 13 banks in 26 cities. RBI Governor’s Digital Rupee Update Reserve Bank of…
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The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they “could pose significant risks to financial stability, monetary policy, and the…
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A commissioner with the Commodity Futures Trading Commission (CFTC) has proposed the “first-ever” pilot program in the U.S. “to support the development of compliant digital asset markets and tokenization.” The regulator emphasized: “Our principles-based framework is built for innovation in technology, new products, and market structure.” ‘Time-Limited CFTC Pilot Program’ for Crypto Commodity Futures Trading…
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Lawmakers with the U.S. Senate Financial Services Committee announced in July they would be accepting suggestions on how to tax crypto until Sept. 8. The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted suggestions for lawmakers to consider in potential legislation on the tax treatment of digital assets. In a Sept. 8 letter…
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Taiwan is set to impose restrictions on offshore cryptocurrency exchanges operating within its jurisdiction unless they gain the required registration. The country’s Financial Supervisory Commission (FSC) has drafted ten guiding principles for virtual asset services providers (VASPs) to establish self-regulatory rules, according to a report by Taiwan’s semi-official Central News Agency…. Read More: Taiwan’s Crackdown: Offshore Crypto Exchanges Must Comply…
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The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published their synthesis paper titled “Policies for Crypto Assets,” which was developed at the request of the Indian G20 Presidency. The global organizations “have set out a roadmap to ensure effective, flexible, and coordinated implementation of the comprehensive policy response for crypto-assets.” IMF,…
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Digital asset exchange Coinbase sets out plans for a global expansion flagging jurisdictions outside the United States as “near-term priority markets.” In a recent blog post, the company highlighted several challenges in the US markets citing bottleneck regulations leading to an exodus of both investors and creators…. Read More: Coinbase Pushes Toward Global Expansion, Sets…
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Commissioner Caroline Pham called for the pilot program to kick off with a stakeholder roundtable and for the CFTC to propose and adopt rules on the risks retail investors face. Caroline Pham, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has suggested a limited pilot program in an effort to address crypto…
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Companies offering crypto services to U.K. residents have an Oct. 8 deadline to run “clear, fair and not misleading” marketing campaigns, but some could have until Jan. 8. The United Kingdom’s Financial Conduct Authority, or FCA, has reiterated its warning for all crypto asset firms marketing to users in the country to be in compliance…
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