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CRYPTO / DIGITAL ASSETS
Enforcement
US Jury Finds Terraform Labs, Do Kwon Liable for Fraud
By Editors | 06/04/2024
Terraform Labs and founder Do Kwon deceived investors about its algorithmic stablecoin UST, a jury found after a nine-day trial.
Crypto / Digital Assets
US Court Jails Bulgarian National Over “OneCoin” Fraud
By Editors | 06/04/2024
Irina Dilkinska assisted in running OneCoin’s day-to-day operations and laundered fraudulently obtained proceeds to the Cayman Islands.
Crypto / Digital Assets
Ripple Announces Plans to Issue USD-backed Stablecoin
By Editors | 05/04/2024
Ripple said its reserve assets will be audited by a third-party accounting firm and that it will publish monthly attestations.
Crypto / Digital Assets
MAS Grants MPI License to Crypto Market Maker GSR
By Nithya Subramanian | 05/04/2024
The new licence enables GSR Markets to offer marketing making and over-the-counter trading services in Singapore.
Crypto / Digital Assets
ECB Announces Participants for Upcoming DLT Settlement Trials
By Editors | 05/04/2024
The first wave of trials will involve ten market participants, six market DLT operators, and five central banks.
Crypto / Digital Assets
How HKMA Aims to Prevent Fragmented Digital Money Ecosystem
By Nithya Subramanian | 04/04/2024
HKMA aims to ensure that different types of tokenised money issued in the city can interact with each other.
Fintech / Regtech
UK Sets Out Proposed Approach to Digital Securities Sandbox
By Editors | 04/04/2024
The sandbox will allow experimentation with DLT and “may lead to a new permanent regulatory regime for securities settlement”.
Crypto / Digital Assets
New BIS Project Seeks Overhaul of Global Payment System
By Manesh Samtani | 04/04/2024
Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.
Crypto / Digital Assets
Indonesia’s Crypto Approval Process Will Require Sandbox Testing
By Editors | 04/04/2024
The requirement for crypto firms to be evaluated in a regulatory sandbox prior to authorisation is intended to ensure consumers are protected.
Big Picture
Industry Bodies Push Back Against BCBS Crypto Treatment
By Manesh Samtani | 04/04/2024
ISDA, GFMA, FIA and other trade bodies say banks should not be penalised for trying to innovate with public permissionless blockchains.
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