Crypto / Digital Assets

Crypto / Digital Assets

FASB Opens Consultation on New Crypto Accounting Standard

By Editors | 23/03/2023

Fair value accounting will more accurately reflect the underlying economics of crypto assets and provide more decision-useful information.

Capital / Liquidity

BCBS to Assess Financial Stability Risks of Higher Interest Rates

By Editors | 23/03/2023

The BCBS will also consult on revisions to its Core principles for effective banking supervision and on a Pillar 3 disclosure framework for climate-related financial risks.

Capital / Liquidity

APRA Directs Banks to Declare Links to Crypto Firms

By Sanday Chongo Kabange | 23/03/2023

APRA has asked banks to declare and report their business ties to crypto firms and start-ups, which worry increased supervision will make it harder to access financial services.

Crypto / Digital Assets

Eurex to Launch Europe’s First Bitcoin Futures Contract

By Editors | 23/03/2023

The contract, developed in partnership with FTSE Russell and Digital Asset Research, will launch on 17 April 2023.

Crypto / Digital Assets

US Authorities Consider Taxing NFTs as Collectibles

By Editors | 23/03/2023

Under the US tax code, collectibles are subject to a 28% capital gains tax rate, compared to 20% for stocks, bonds and cryptocurrencies.

Enforcement

US SEC Simultaneously Charges Crypto Founder, Eight Celebrities

By Editors | 23/03/2023

Tron founder Justin Sun sold unregistered securities to US investors, manipulated TRX and BTT markets, and paid celebrities to tout the offerings without disclosing their compensation.

Crypto / Digital Assets

Stablecoin Reserves Should be Held at Central Banks: Circle

By Editors | 22/03/2023

Circle is seeking to be able to hold USD reserves with the Fed rather than with various financial partners. In the long run, a wholesale CBDC could be used.

Crypto / Digital Assets

Crypto Firms Looking to Set Up in Hong Kong: Christopher Hui

By Editors | 22/03/2023

Between October and February, 80 virtual asset-related companies have expressed interest in establishing a presence in Hong Kong.

Crypto / Digital Assets

Korean Prosecutors Probe “Illegal” Crypto Token Listings

By Editors | 22/03/2023

A Bithumb executive, former Coinone employee, and other crypto exchanges are said to have illegally listed crypto tokens on their platforms.