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Stablecoins
CFTC Fines Tether as US Regulators Scrutinise Crypto Markets
By Mark Johnston | 21/10/2021
The CFTC has fined Tether $41mn and Bitfinex’s parent $1.5mn. Meanwhile New York prosecutors have directed two crypto lending platforms to cease operations.
Cryptocurrency
Crypto Asset Regulation “A Matter Of Urgency”, says BOE
By Mark Johnston | 18/10/2021
Deputy governor Jon Cunliffe says a “plausible scenario” involving a collapse in crypto-asset prices would have financial stability implications.
PEPs & Sanctions
OFAC Issues Sanctions Guidance for Crypto Sector
By Editors | 17/10/2021
OFAC expects virtual currency operators to identify and block IP addresses that originate in sanctioned jurisdictions, including via VPNs.
CBDCs
BOJ Seeks Simple CBDC Design That Promotes Competition
By Editors | 17/10/2021
While the BOJ still has no plan to issue CBDC, the inability to ensure interoperability with other countries could create issues for Japan.
Cryptocurrency
Sri Lanka to Develop Regulatory Framework for Cryptocurrency
By Sanday Chongo Kabange | 15/10/2021
The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.
CBDCs
G7 Ministers Endorse Public Policy Principles for Retail CBDC
By Editors | 15/10/2021
Any CBDC must support, and ‘do no harm’ to, the ability of central banks to fulfil their mandates for monetary and financial stability.
Cryptocurrency
S. Korean Legislators Seek to Delay Cryptocurrency Taxation
By Sanday Chongo Kabange | 14/10/2021
Lawmakers are proposing to delay plans to tax cryptocurrency gains by one year to 2023, and to impose a more generous tax framework.
Cryptocurrency
China Names Crypto Mining as Prohibited Activity on ‘Negative List’
By Sanday Chongo Kabange | 14/10/2021
China’s latest ‘negative list’ removes six industries, while introducing new restrictions for the media, finance and cryptocurrency sectors.
CBDCs
G7 Ministers to Endorse Guiding Principles for CBDC – Report
By Editors | 13/10/2021
The principles call for appropriate regulation and oversight, rigorous privacy and data protection standards, and safeguards to prevent fraud and sanctions evasion.
Payments & Settlements
Sri Lanka: CBSL Collaborates with Industry on Inward Remittances
By Duruthu E Chandrasekera | 12/10/2021
The central bank is working with banks, mobile operators, and government agencies to launch a new mobile app for inward remittances.
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