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A Stablecoin Law May Not Happen This Year
7.9.2022
Hey folks. Monday was a federal holiday in the U.S. so we’re taking it easy today. Reporting from my colleague Jesse Hamilton suggests that stablecoin legislation we expected to see released this month may not be coming after all. Plus, a few other stories that caught my eye over the past week
South Korea Is Gearing Up to Institutionalize Security Tokens
7.9.2022
The country's financial regulators plan to publish guidelines for security token issuance and distribution towards the end of 2022
Love Island Twins’ Crypto Instagram Posts Misled Viewers, UK Ad Authority Says
7.9.2022
Instagram influencers must explain related risks when promoting crypto investments, the country’s advertising regulator said
US Bank Watchdog Says He’s Not Budging on Crypto Distrust
7.9.2022
U.S. regulators have largely fenced off the banking system from heavy involvement in the crypto industry, and that’s a status that the acting head of the Office of the Comptroller of the Currency intends to maintain
Celsius Resembled Ponzi Scheme at Times, Vermont Regulator Says
7.9.2022
Vermont's Department of Financial Regulation alleged that crypto lender Celsius boosted its balance sheet by counting its CEL token holdings as assets, boosting those tokens' value and "artificially inflating" its net value
Digital Euro to Focus on Personal Use, Not Web3, EU Officials Say
7.9.2022
The central bank digital currency could fail if it doesn't offer something more than cash and credit cards do, industry representatives remarked
New finance minister Kwasi Kwarteng leaves crypto policy in the UK unclear
6.9.2022
While serving as the secretary of state for business, energy and industrial strategy, Nadhim Zahawi was part of a department suggesting support for blockchain technology in 2021
UK’s Truss Picks Kwasi Kwarteng to Be Finance Minister
6.9.2022
Kwasi Kwarteng is currently the U.K.'s secretary of state for business, energy and industrial strategy
Russia Exploring Stablecoin Settlements With Friendly Nations: Report
6.9.2022
President Vladimir Putin had signed a law banning digital payments earlier this summer
With Crypto’s Blowups, TradFi Boasts Its Legal Rigor
6.9.2022
Standard-setters say existing rules for lending securities should apply to crypto, too, noting they could’ve prevented Celsius-style messy breakups
Nigerian Presidential Candidate Says Fixed Exchange Rate Regime ‘Has to End’ — Touts Success of Fintech Unicorn Flutterwave
6.9.2022
A Nigerian presidential election candidate, Peter Obi, has said the local currency’s exchange rate against the dollar must not be fixed but must be determined “by the forces of demand and supply.” Pointing to the success of the Nigerian fintech Flutterwave, the candidate said...
Australian Federal Police Forms Cryptocurrency Unit to Tackle Money Laundering, Offshoring: Report
5.9.2022
The Australian Federal Police has formed a unit to tackle the use of cryptocurrency as a means of money laundering and offshoring, the Australian Financial Review reported Monday
UK Crypto Firms Must Now Report Sanctions Breaches, Freeze Accounts
5.9.2022
The U.K. Treasury, the government’s finance arm, wants crypto exchanges and wallet providers operating in the country to report suspected sanctions breaches to authorities, updated guidance shows
Crypto Exchange Upbit Publishes Token Listing, Delisting Procedure After Government Pressure
5.9.2022
Tokens listed on Upbit, South Korea’s largest exchange by trading volume, see major market movements
Liz Truss to Become UK Prime Minister After Winning Conservative Party Leadership
5.9.2022
Truss has revealed little about her stance on crypto save for two rare statements that indicate she may be open to innovative-friendly regulation
Nigeria Plans to Create a Virtual Free Zone With Binance Crypto Exchange
5.9.2022
The west African country has held discussions with Binance about creating something similar to Dubai’s virtual commercial city
Argentinian Tax Authority Wins Landmark Case to Confiscate Funds From a Digital Account
4.9.2022
The Argentinian Tax Authority (AFIP) has won a historic case to seize taxpayer funds from a digital account. The case, which was won in an appeal in the Federal Chamber of Mar del Plata, might bring about more seizures of this kind and include cryptocurrencies as part of a stricter policy of...
House’s Stablecoin Bill May Face Fatal Delays for 2022 Progress
2.9.2022
One of Congress’ most serious efforts toward stablecoin oversight may have hit an insurmountable snag as negotiations in the House Financial Services Committee drag out further than the calendar is likely to allow
Australian CBDC Research Project Could Provide Crypto Clarity, Legal Expert Says
2.9.2022
Michael Bacina, partner at law firm Piper Alderman, joined CoinDesk TV’s “First Mover” to discuss what the project’s launch could mean for the country’s financial future
Thailand Toughens Rules for Crypto Ads
2.9.2022
The new rules, which took effect Thursday, require crypto operators to add clear risk warnings to ads and prohibit the inclusion of false or exaggerated information about companies