Crypto / Digital Assets

A new BIS bulletin highlights a growing trend in DeFi to rely on forms of centralisation, and a need for it to ultimately fall within the regulatory umbrella.

Crypto mining has continued in China despite a government ban on such activities since May 2021.

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.

A CBDC is needed to facilitate the growth of digital transactions and encourage startups and e-commerce businesses, the finance minister said.

Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.

Kanv Pandit highlights the need for a 'metacode of conduct' to protect metaverse users from loss and fraud until regulation catches up.

ADDX will begin recognising bitcoin and ether using a 50 percent haircut and stablecoin USDC using a 10 percent haircut.

UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.

Crypto exchanges are also being asked to draft guidelines on the listing and delisting of digital tokens, so as to protect investors from another Terra-like collapse.