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Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency
24.7.2022
While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of “creating an international reserve currency.” Analysts believe the BRICS reserve...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
Harvard Professor Rogoff: Central Banks, Governments Are ‘Way Behind the Curve’ in Regulating Cryptocurrencies
20.7.2022
Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says central banks and governments are “way behind the curve” in regulating cryptocurrencies. He added that officials throw out the idea of having central bank digital...
Indian Finance Minister: Crypto Ban, Regulation Effective Only With Significant International Collaboration
19.7.2022
India’s finance minister has informed parliament that the central bank, the Reserve Bank of India (RBI), wants cryptocurrencies to be prohibited. However, she noted that “any legislation for regulation or for banning can be effective only after significant international...
UK financial watchdog exec hints at importance of international collaboration on crypto regulation
14.7.2022
“In the past, innovative firms would have been pleading for less regulation — now they understand and appreciate that rules are there to help provide certainty," said Nikhil Rathi
Russian Blockchain Alternative to SWIFT to Prevent Disconnection of Nations, Banks
13.7.2022
A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks. Russian Developers Create...
International Standard Setters Publish Guidance on Stablecoin Regulations
13.7.2022
The guidelines from the international organization of securities regulators and BIS’ global payments group set out arrangements for systemically important stablecoins
Here's the 'Final Guidance' on 'Stablecoin Arrangements' by BIS and IOSCO
13.7.2022
The Bank for International Settlements (BIS) wants to create a set of standards for the stablecoin industry that will cover payments, clearings, and settlements.
In a report released today and shared with Cryptonews.com, the BIS’ Committee on Payments and Market Infrastructures and...
Nigerian Mobility Fintech Secures $20 Million From British Development Finance Institution
12.7.2022
A Nigerian fintech, Moove, recently secured a $20 million investment from British International Investment (BII). Moove said the funds will be used to democratize access to vehicle ownership in Africa. Credit Extended Based on Drivers’ Performance and Revenue Analytics The British...
G20 Watchdog Announces ‘Robust’ Global Crypto Regulation Coming in October
12.7.2022
The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to G20 in October...
Developer Ambushes NFTs In Public Talk, Makes Crypto Sponsors Real Mad
12.7.2022
During Brazil’s International Games Festival last week, developer Mark Venturelli (Chroma Squad) was scheduled to give a talk called “The Future Of Game Design”. A few seconds in, he flipped and revealed the presentation’s real title—“Why NFTs are a nightmare”—to a room full of applause.Read more
International Securities Regulator IOSCO to Focus on Global DeFi, Crypto Rules
11.7.2022
The global standard-setter IOSCO's new fintech task force will focus on setting up policy recommendations for digital assets to be published in 2023
Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says
10.7.2022
Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial...
US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order
10.7.2022
The U.S. Treasury Department has delivered a framework for crypto assets to President Joe Biden, fulfilling its obligation as directed in the executive order on crypto that the president issued in March. U.S. Treasury Secretary Delivers Crypto Framework to Biden The U.S. Department of the Treasury...
Russia’s Finance Ministry Supports Circulation of Stablecoins in Country
9.7.2022
The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will...
Bitcoin Will Make a Comeback, Rockefeller International Chairman Says
8.7.2022
“We need the excesses to get weeded out,” Ruchir Sharma told CoinDesk TV
US Treasury Develops Framework For Path Towards International Crypto Regulations
8.7.2022
While the US authorities are intensifying work on developing crypto regulations, the country’s Department of Treasury has presented to President Joe Biden a framework to facilitate international cooperation on introducing such regulations and standards at the international level.
This is arguably...
IMF: Global Economic Outlook Has ‘Darkened Significantly’ — Global Recession Cannot Be Ruled Out
8.7.2022
The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economic outlook “has darkened significantly,” emphasizing that, regarding a global recession, “we cannot rule it out.” IMF Says Global Economic Outlook ‘Has...
US Treasury Develops 'Framework' for International Crypto Regulation
7.7.2022
The U.S. Treasury Department published a fact sheet outlining a framework on digital asset regulation. It is the first publication to result from U.S. President Joe Biden's executive order on digital assets
Fed conference hears stablecoins may boost USD as global reserve currency
6.7.2022
The underlying tech of a central bank digital currency wasn’t enough to convince some panelists at a Fed conference that it could change the international currency system