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FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
13.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under...
Report: Thai Govt to Grant Tax Waivers to Issuers of Digital Asset Investment Tokens
10.3.2023
Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of...
Has Tokenization’s Moment Finally Come?
3.3.2023
Tokenization of real-world assets has been dismissed by many crypto purists for operating under a centralized framework, but new technological advances have migrated the process from closed, permissioned projects onto public, permissionless blockchain platforms. This could offset traditional...
Puerto Rico Defines Act 60 Tax Exemptions for Blockchain Companies
1.3.2023
The Economic and Commerce Development Department of Puerto Rico (DDEC) has issued a document in which it defines the rules that blockchain projects must follow to receive tax benefits that the state offers companies. The action seeks to create an “atmosphere of certainty and stability”...
Solana Will Improve Network Upgrades to Improve Stability
1.3.2023
A Solana cofounder said last week's 1.14 network update has raised concerns about maintaining stability during major updates
G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor
28.2.2023
The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over...
India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy
26.2.2023
India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation...
Coordinated global crypto policies: G20 key financial stability priority
25.2.2023
India's finance minister called for a coordinated effort “for building and understanding of the macro-financial implications,” which could be used to build global crypto reforms
Existing Stablecoins Won’t Meet Forthcoming Global Standards: FSB
20.2.2023
The Financial Stability Board's recommendations for regulating crypto and stablecoins are set to be released in July 2023
Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange
20.2.2023
The largest bank in Southeast Asia, DBS, has revealed that bitcoin trading volume on its cryptocurrency exchange jumped 80% in 2022 while ether trading volume surged 65%. “We believe that the market has decisively shifted its focus towards trust and stability, especially in the wake...
Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank
10.2.2023
The Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John Mangudya, the gold coins “have proved to be an effective open market instrument for mopping up excess...
Ethereum and Bitcoin offer stability, Orbeon Protocol offers high returns
9.2.2023
Ethereum (ETH) and Bitcoin (BTC) have both seen strong price increases throughout January. Ethereum saw highs of $1645, while Bitcoin increased to $23,800. Going into February, both projects increased in price once again, but how much can the average investor capitalize on them? Due to the price...
6 ways the stablecoin space can improve stability in volatile periods
19.1.2023
Tightening reserves and offering real-time pricing data to the market are among the ways the stablecoin space could better weather volatility
South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools
19.1.2023
South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase...
Treasury Secretary Yellen Urges Swift Action to Increase Spending Limit, Avert Default on US Obligations
14.1.2023
Janet Yellen, the U.S. secretary of the Treasury, sent a letter to Congress on Friday urging lawmakers to increase the spending limit. Yellen stressed that the country would reach its statutory debt limit on Jan. 19, 2023. She warned that “failure to meet the government’s obligations...
The Fed Will Keep Focusing on Crypto — Fed Governor Says ‘We Do Not Want to Hinder Innovation’
12.1.2023
Federal Reserve Governor Michelle Bowman says while “cryptocurrency activities can pose significant risks,” the Fed does not want to “hinder innovation.” She added: “By inhibiting innovation, we could be pushing growth in this space into the non-bank sector, leading...
Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes
9.1.2023
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate...
Bitcoin retains stability: Can BTC ever begin a rally again?
6.1.2023
Bitcoin (BTC) is a decentralized virtual currency that uses cryptography for security and is not backed by a central authority. Built on a decentralized ledger technology called the blockchain, which records and verifies all transactions on the network. All the transactions are recorded in blocks...
Report: Syrian Central Bank Devalues Local Currency by Nearly 50%
3.1.2023
The Syrian central bank recently announced the nearly 50% devaluation of the Syrian pound’s exchange rate versus the greenback from 3,015 per dollar to 4,522 per dollar. The central bank also warned currency speculators that it will take steps to end activities that undermine the stability...
Indian Central Bank: Developing Global Crypto Regulation Is a Priority for G20 Under India’s Presidency
1.1.2023
The Reserve Bank of India (RBI) says one of the priorities for the G20 under India’s presidency is to “develop a framework for global regulation, including the possibility of prohibition, of unbacked crypto assets, stablecoins, and defi.” The Indian central bank warned that...