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Global Regulators ‘Going Full Steam’ on Crypto — Official Says ‘Current Structure Is No Longer Fit for the Purpose’
11.2.2022
Global regulators are “going full steam” on cryptocurrency regulation. “The current structure is no longer fit for the purpose with the development of cross-border digital market activities,” said the chairman of France’s markets watchdog AMF. Global Regulators...
Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government
25.1.2022
The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank...
Russia Busts Revil Ransomware Group on US Request, Arrests 14 Members
15.1.2022
Russian law enforcement agencies have dismantled the notorious hacking group Revil, believed to be behind ransomware attacks in the U.S. involving cryptocurrency. Although Moscow is unlikely to hand over Russian citizens to Washington, the operation has been carried out on request from the United...
BIS Exec Says Defi Is a ‘Wake-up Call’ for Regulators, Global Crypto Policy Expected in 2022
20.12.2021
A Bank of International Settlements (BIS) executive, Benoît Cœuré, says that crypto is “growing very fast” and ”becoming mainstream in different ways.” Emphasizing that decentralized finance (defi) is a “wake-up call” for financial...
Federal Security Service of Russia Seeks Powers to Obtain Information From Crypto Platforms
31.10.2021
The Federal Security Service of the Russian Federation has issued a draft order allowing its agents to request information from cryptocurrency platforms among other organizations. The move follows changes made to the anti-corruption legislation in Russia, the agency noted. FSB Wants Access...
Check Out FSB's Roadmaps for Stablecoins and CBDCs
13.10.2021
The Financial Stability Board (FSB), a think-thank that provides financial policy recommendations to the G20, is looking to fix the “challenges that cross-border payments” experience by “examining” the use of “global stablecoin arrangements” and central bank digital currencies (CBDCs)....
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Countries Should Prevent 'Regulatory Arbitrage' for Stablecoins – FSB
7.10.2021
ecoin space.The emergence of global stablecoins (GSCs) would pose greater risks to financial stability than existing stablecoins, said the report, and it may also "challenge the comprehensiveness and effectiveness of existing regulatory, supervisory and oversight approaches."The FSB re
Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System
1.7.2021
The Federal Reserve’s vice chairman of supervision and the chair of the Financial Stability Board (FSB), Randal K. Quarles, doubts the benefits of the digital dollar but says it “could pose significant and concrete risks” to the U.S. banking system. Fed Vice Chair Speptical About...
Fed’s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency
4.5.2021
The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their...
FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls
18.10.2020
The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote...
FSB releases recommendations to regulate 'global stablecoins' such as Libra
14.10.2020
The Financial Stability Board has warned that global stablecoins could pose systemic risks to the monetary systems of nation-states
FSB Recommends Stablecoin (Libra) Safeguards as G7 Continues Blockade
13.10.2020
Finance officials never once named Libra. But they didn't have to; the proposed stablecoin's shadow still loomed
Russia’s FSB Is Making Life Harder for Blockchain Companies
23.7.2020
The FSB, Russia’s security agency, wants blockchain companies to certify with them. This could push foreign companies out of the market
Missing Wirecard Exec Found in Belarus; Russia’s FSB Involvement Suspected
19.7.2020
Russian intelligence might have a lot to do with helping former Wirecard COO Jan Marsalek disappear into thin air
G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra
15.4.2020
The G20 is setting rules to regulate stablecoins such as Facebook’s Libra cryptocurrency. Responding to a call by the G20, the Financial Stability Board (FSB) has provided 10 “high-level” recommendations that establish a regulatory framework for stablecoins. Also read:...
'Same Activity, Same Regulation' For 'Global Stablecoins' - FSB Chair
14.4.2020
Cross-border payment inefficiencies will be a problem for the post-pandemic economic recovery of certain regions, says Randal K. Quarles, the Chair of the Financial Stability Board (FSB) in a letter to the G20. But when it comes to a possible solution - "global stablecoins" - oversight...
G20 Tasked FSB Finishes the 1st Step in Keeping Crypto at Bay
9.4.2020
Triggered by the expansion of cryptocurrencies and private stablecoins, new intergovernmental initiatives are emerging in order to solve problems of the global financial system and keep public cryptoassets at bay.
Earlier in April, the “central bank of central banks” said that the world might...
Cryptocurrency Could Kill Bank Lending, Warns Bank of England Deputy Governor
1.3.2020
In the cryptocurrency economy, the supply of credit through the banking system could disappear, warned Bank of England Deputy Governor Sir Jon Cunliffe. That would be a change with “profound economic consequences,” he added, emphasizing the risks from Facebook’s Libra project...
G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standards
24.2.2020
The G20 finance ministers and central bank governors had their first 2020 meeting this weekend in Saudi Arabia. They discussed cryptocurrencies and stablecoins, and issued a statement urging countries to implement the cryptocurrency standards set by the Financial Action Task Force. They were also...
Indian Finance Minister Answers Crypto Questions at IMF Meeting
21.10.2019
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court...