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FCA Extends Deadline for Crypto Firms to Meet Regulatory Requirements in UK — 33 Firms Licensed so Far
31.3.2022
The U.K. financial regulator, the Financial Conduct Authority (FCA), has extended its April 1 registration deadline for a number of crypto firms to meet its regulatory requirements. The British regulator has registered 33 crypto firms so far and 12 firms are holding temporary registration....
Financial Markets Not Ready for Bitcoin-Backed Bonds – MicroStrategy CEO
31.3.2022
The financial markets of the world are not ready for bonds backed by bitcoin (BTC) yet, according to the CEO of the enterprise software firm MicroStrategy, Michael Saylor. However, El Salvador’s planned “volcano bonds” could be a different story....
Read More: Financial Markets Not Ready...
Fintech Platform Nequi Plans to Get Into the Cryptocurrency Business in Colombia
30.3.2022
Nequi, a fintech neobank which allowed Colombian citizens to test all-digital financial services, has announced its plans for expansion after having parted ways with Bancolombia, the bank that gave it its origin. These plans include an entry into the cryptocurrency world while complying with...
UK financial watchdog extends registration deadline for some crypto firms
30.3.2022
As of March 25, there were 12 firms permitted to “carry out cryptoasset activities” under FCA temporary registration status, including CEX.IO, Revolut, and Copper
Central Bank of Sudan Warns of Risks Associated With Cryptocurrency
30.3.2022
The central bank in crisis-stricken Sudan has warned residents dealing with cryptocurrencies that they face numerous risks including loss of value. The warning comes as Sudan is grappling with an economic crisis that worsened after the civilian government was deposed by the military. Sudan’s...
Biden Administration Lowballs Inflation Predictions, Report Says Americans Are ‘Fixated’ on Dollar Value
29.3.2022
As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced...
CTFC looks at expanded authority to regulate crypto, for less than a 10% budget increase
29.3.2022
The agency’s $365 million proposed FY2023 budget includes significant allocation for CPAs and whistleblowers
Waiting on the executive order: how users and financial professionals may benefit from it
29.3.2022
The fruits of President Biden’s EO will not materialize until months from now, but the need for regulatory change is far-reaching
Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency
28.3.2022
In a recently released document, the Bank of Ghana (BOG) outlines some of its key reasons for developing the central bank digital currency (CBDC). Also, in the document, the bank’s governor insists the institution is open to suggestions that will help it to successfully launch the digital...
Ukraine War’s Surprising Links to the 2008 Financial Crisis – and the Parallels With 1939
27.3.2022
Ronen Palan, Professor of International Politics, City, University of London.___
The historical parallels are uncanny. A decade or so after the two most devastating financial crises in modern capitalism, in 1929 and in 2008, a terrible conflict begins in Europe that threatens to draw in...
Russian Prime Minister, Economy Ministry Support Legalization of Cryptocurrencies
27.3.2022
Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global...
US Senate Committee Advances Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender
25.3.2022
The Senate bill to mitigate the risks from El Salvador adopting bitcoin as legal tender has advanced in the U.S. “As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,” said one of the U.S. lawmakers who introduced...
Report: Kenya Central Bank Governor Reiterates His Opposition to Cryptocurrencies
25.3.2022
The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading...
Bank of England and regulators assess crypto regulation in raft of new reports
25.3.2022
A bundle of interrelated documents remind financial institutions of their responsibilities and look at the state of crypto regulation in the U.K
Crypto Pyramid Busted in Russia, Losses Exceed $10 Million
24.3.2022
Russian law enforcement agencies have gone after the organizers of a large crypto pyramid which has been promising extraordinarily high returns. The Ponzi scheme is being unraveled after a similar project defrauded thousands of investors in Russia, the region, and far beyond. Police Find Crypto...
Bank of England Says Crypto Assets ‘Present Financial Stability Risks,’ Bank Begins Sketching Regulatory Framework
24.3.2022
The Bank of England has revealed that it is working on sketching a regulatory framework for crypto assets, according to statements stemming from the central bank’s Financial Policy Committee on Thursday. BOE Stresses Crypto Assets Need Effective Public Policy Frameworks On Thursday, the Bank...
‘Big Holes’ Undermine Russia Sanctions – And It's Not Crypto (Psst! It's Traditional Politics & Finance)
24.3.2022
An opinion columnist writing for Bloomberg has identified two flaws that “fundamentally undermine” the United States and EU-led “sanctions regime” against Russia – and neither have anything to do with the use of crypto.
Since the start of the conflict in Ukraine, senior lawmakers in the USA...
IOSCO says DeFi is quickly evolving and 'cloning financial markets'
24.3.2022
IOSCO Chair Ashley Alder recognizes that “DeFi is a novel and fast-growing area of financial services.”
Abu Dhabi Global Market Regulatory Arm Unveils Document Proposing Changes to Virtual Asset Regulations
24.3.2022
The Financial Services Regulatory Authority (FSRA), a regulator in the United Arab Emirates (UAE)’s financial center and free zone, the Abu Dhabi Global Market (ADGM), has released a consultation paper that proposes amendments to regulations that govern the use of virtual assets. Regulator...
UK Regulators Says Crypto Adoption Poses Financial Risk, Call for Additional Powers
24.3.2022
The regulators worry that international norms could come too late – and called for banks to exercise utmost caution when dealing with what it said were extremely volatile assets