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Digital Assets
CBDCs
Fed Official Outlines Policy Issues for CBDC Introduction
By Mark Johnston | 18/04/2023
Fed governor Michelle Bowman said a CBDC may not necessarily improve payment system efficiency or increase financial inclusion.
Cryptocurrency
NYDFS Issues Final Rule on Bitlicense Assessment Fees
By Editors | 18/04/2023
Crypto firms with a Bitlicense will be billed five times each fiscal year, in part based on their size and complexity.
Cryptocurrency
US SEC Charges Crypto Firm Bittrex for Not Registering
By Editors | 18/04/2023
The SEC identified six Bittrex-listed crypto tokens as securities and said the company should have registered as a broker, exchange, and clearing agency.
DeFi & Web3
US SEC Reopens Consultation to Redefine ‘Exchange’
By Editors | 18/04/2023
The proposed rule would update the definition of “exchange” to include crypto trading systems, including DeFi systems. Two SEC Commissioners dissented.
Stablecoins
UK Regulator to Impose Limits on Stablecoin Payments
By Mark Johnston | 18/04/2023
The BOE and the FCA will propose new rules by year-end to ensure stablecoins are redeemable in fiat money and do not threaten financial stability.
Cryptocurrency
CME to Offer Additional BTC, ETH Options Expiries
By Editors | 18/04/2023
CME will offer expiries every business day to provide market participants with “greater precision and versatility” in managing short-term price risk.
Fraud, Scams & Cybercrime
Do Kwon Sent $7m to Law Firm Before Terra Collapse
By Editors | 17/04/2023
Korean prosecutors believe the transfer may suggest Do Kwon was aware of Terra’s impending collapse and was seeking to pre-empt the legal repercussions.
Anti-Money Laundering
Working Group Formed to Update Crypto’s IVMS101 Standard
By Manesh Samtani | 16/04/2023
The working group will update the IVMS101 standard and develop other standards to create “greater consistency and integrity” within the crypto ecosystem.
Fraud, Scams & Cybercrime
US Sentences Man Who Stole Bitcoin from Silk Road to Prison
By Mark Johnston | 15/04/2023
The DOJ said James Zhong executed a scheme to trick Silk Road’s withdrawal system and steal 50,000 Bitcoin in 2012.
DeFi & Web3
Japan Policymaking Body Approves New Web3 White Paper
By Editors | 15/04/2023
The paper covers crypto taxation, a DAO law, token screening, stablecoin registration, and Web3 accounting standards.
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