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Crypto Will Soon Threaten Global Financial Stability, FSB Official Says
17.11.2022
In the wake of FTX’s demise, the Financial Stability Board official urged authorities worldwide to move beyond sectoral boundaries and agree on global norms for the industry
US Senator Says Crypto Needs ‘More Aggressive Enforcement’ — ‘I’m Going to Keep Pushing SEC to Enforce the Law’
11.11.2022
U.S. Senator Elizabeth Warren says the implosion of crypto exchange FTX shows that the crypto industry needs “more aggressive enforcement.” She stressed: “I’m going to keep pushing SEC to enforce the law to protect consumers and financial stability.” However, many...
Bitcoin Draws Stability From $20K Price Floor as Traditional Markets Slide
3.11.2022
Bitcoin traded above the psychologically important price level for a 10th consecutive day, even as stocks took a hit from U.S. central banks’ ongoing move to tighten monetary conditions
Paraguay Warns About Growth of Illegal Bitcoin Mining Operations and Effect on Power Stability of the Country
31.10.2022
The growth of illegal bitcoin mining operations could affect the stability of the power system in Paraguay, according to statements from the National Power Administration. The boom the country is experiencing is taking its toll on the power system, with many miners plugging in illegally...
Treasury Secretary Janet Yellen: US Financial Stability Risks Could Materialize, Cites ‘Dangerous and Volatile Environment’
26.10.2022
Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector,...
Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected
16.10.2022
The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since...
Financial Stability Board Lays Out G20 Crypto and Stablecoin Plans
12.10.2022
The Financial Stability Board (FSB), an international advisory body created by the G20, has laid out its recommendations for crypto regulation, and said most existing stablecoins are not in compliance.
FSB’s recommendations for crypto and stablecoin regulation were first endorsed by the G20 –...
Financial Stability Board opens proposed crypto regulatory framework for public comments
11.10.2022
“Effective regulatory and supervisory frameworks should be based on the principle of ‘same activity, same risk, same regulation,’” said the FSB proposal
Top US Regulators Urge Congress to Pass Legislation on Crypto Assets
5.10.2022
The U.S. Financial Stability Oversight Council (FSOC), a group of the country’s top financial regulators, has urged Congress to pass legislation for the regulation of crypto assets. Treasury Secretary Janet Yellen said: “Crypto-asset activities could pose risks to U.S. financial...
With Predictions for Future Stability, G10 FX Attracts Attention
4.10.2022
The Bank of England is pondering its response to what has happened with the assets of the United Kingdom. A rough relationship between the Truss government and the capital market eventually led to where the markets are right now. GBPUSD carries volatility that makes it rather difficult for...
Even 'Safe' Stablecoins Might Pose Financial Stability Risk, New York Fed Says
3.10.2022
The rise of Circle’s USDC stablecoin – as opposed to the controversial Tether (USDT) – is a threat to the broader financial system, as it could increase the chance of run risks from smaller issuers, researchers at the Federal Reserve Bank of New York wrote in a new paper published Monday
Extend Existing Standards to Crypto Before Sector Threatens Stability, Not After, Urges BOE's Cunliffe
28.9.2022
Cunliffe listed ways the technology that underlies crypto could make traditional asset trading more efficient, but added it did not mean regulators should ignore the risks
ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation
28.8.2022
According to the French politician currently serving as the president of the European Central Bank (ECB), Christine Lagarde, Europe’s scorching hot inflation can be blamed on climate change. During her interview with Madame Figaro, Lagarde stressed that people need to take into account that...
Powell Says Fed’s Battle With Inflation Will Bring ‘Some Pain,’ After Insisting Last Year Elevated Inflation Is ‘Likely to Prove Temporary’
27.8.2022
On Friday, Jerome Powell spoke at the annual Jackson Hole Economic Symposium and the Federal Reserve chair explained that the U.S. central bank is focused on fighting the country’s red-hot inflation. Powell stressed at the event that strict monetary policy is necessary, and his commentary...
Ghana Central Bank Announces Launch of Regulatory Sandbox
24.8.2022
Ghana’s recently launched regulatory and innovation sandbox is the latest proof of the central bank’s commitment to a regulatory environment that promotes “innovation, financial inclusion and financial stability,” a statement released by the Bank of Ghana has said....
UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment
12.8.2022
The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in...
Bank of England Analysts See Crypto Having Important Roles in the Metaverse — Discuss the Need for Regulation
11.8.2022
Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added. Bank...
Bank of England’s Cunliffe Warns Crypto Is ‘Prone to Collapse’ — Touts ‘Same Risk, Same Regulatory Outcome’
17.7.2022
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle...
US Treasury study finds CBDCs a plus for commercial bank stability
13.7.2022
Access to CBDCs reduces banks’ need to insure against liquidity risks and gives policymakers greater information about trouble in the financial system, according to the study
US Federal Researchers Say Digital Dollar Could Be Good for Financial Stability
12.7.2022
Though critics of a central bank digital currency have said it could amplify bank runs, the Office of Financial Research says it may actually help