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Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks
28.7.2021
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more...
China Offers Medics Digital Yuan Insurance Policy for Covid-19
21.7.2021
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech...
China Releases e-CNY Whitepaper, Says Cryptos Have No Value & Pose Risks
16.7.2021
The central People’s Bank of China (PBoC) released a digital yuan, e-CNY, whitepaper, in order to "explain the background, objectives, and visions" and to "seek public comments."
"E-CNY is the digital version of fiat currency issued by PBoC and operated by authorized...
Blockchain security firm CertiK raises $37M to combat DeFi and crypto risks
14.7.2021
The Series B funding round was co-led by Coatue Management and Shunwei Capital, with participation from Coinbase Ventures
Parliament of West Africa Economic Block Cautions Against Use of Cryptocurrencies
11.7.2021
The parliament of the Economic Community of West African States (ECOWAS) has joined the list of African organizations that have cautioned against the use of cryptocurrencies. In its warning to West Africa crypto users, the legislative body insists these digital assets are too volatile and as such...
Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks
11.7.2021
Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank...
US Senator Warren Presses SEC to Use ‘Full Authority’ to Regulate Cryptocurrency Trading
8.7.2021
U.S. Senator Elizabeth Warren has warned of the growing risks of cryptocurrency trading. She recently called on the U.S. Securities and Exchange Commission (SEC) to “use its full authority to address these risks,” adding that “Congress must also step up to close these regulatory...
Korean Banks Elevate Cybersecurity to Deal With Crypto-Related Risks
7.7.2021
South Korean banks are taking steps to bring cybersecurity to a new level as they try to keep up with fintechs and address new threats arising from their interaction with the crypto space. A number of institutions are adopting unprecedented measures including the integration of blockchain...
Bank of Russia to Study Risks of Crypto Investing With Banks and Payment Providers
3.7.2021
The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market. CBR Adds Crypto to Its Survey Program...
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...
House committee reviews cryptocurrency risks, regulations in hearing
30.6.2021
A panel of expert witnesses and members of congress discussed the risks and rewards of cryptocurrency in committee Wednesday
Russia’s central bank to study crypto investment risks
30.6.2021
The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard
Vaneck Files Prospectus With US Regulator to Launch a Bitcoin Mutual Fund
23.6.2021
On June 21, the wealth manager Vaneck filed a prospectus to launch what it calls a Bitcoin Strategy Fund. The prospectus filed with the U.S. Securities and Exchange Commission (SEC) explains the fund will procure bitcoin exchange-traded products and futures. Vaneck’s Fund Will Invest...
Chris Giancarlo: U.S. risks becoming 'backwater' without central bank digital currency
22.6.2021
The former CFTC chairman weighs in on what a U.S. CBDC might look like, as well as the benefits it could bring to American citizens
Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation
17.6.2021
The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open...
SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures
13.6.2021
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from...
Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks
12.6.2021
The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.”...
Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed
12.6.2021
The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such...
SEC warns investors of the risks with Bitcoin futures
11.6.2021
The SEC has warned that “investors should understand that Bitcoin, including gaining exposure through the Bitcoin futures market, is a highly speculative investment.”
IMF Voices Concerns Over El Salvador Making Bitcoin Legal Tender
11.6.2021
The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with...