According to the International Monetary Fund’s Global Financial Stability report released Tuesday, the war in Ukraine — following hard on the heels of the coronavirus pandemic — has led to a tightening of global financial conditions. Rapid changes in fintech and the uses and misuses of cryptocurrency play into the jumble of challenges facing the
Regulation
The Financial Action Task Force, or FATF, reported that many countries are not in compliance with its standards on countering the financing of terrorism and anti-money laundering, including those with virtual asset service providers. In a report released Tuesday on the ‘State of Effectiveness and Compliance with the FATF Standards,’ the organization said 52% of
Donations made to political parties using cryptocurrencies will be banned in Ireland under new political integrity laws drafted due to concerns around foreign interference in politics. Amendments proposed by Minister Darragh O’Brien also cover rules around foreign donations, misinformation, and other transparency requirements for political parties, citing fears of Russian interference in Ireland’s elections. Speaking
Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would
London-based cryptocurrency exchange Exmo is the latest crypto trading platform to formally suspend its business in Russia and Belarus due to Russia’s invasion of Ukraine. Exmo is selling its digital asset business in Russia and Belarus to a Russia-based software development company, Exmo officially announced on April 18. At the time of writing, the new
Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth. In an email notification to users on Wednesday, Bitstamp informed its customers about the ongoing policy upgrades on the platform, with the exchange seeking additional info about its clients, one Bitstamp user told
The feeling in the crypto and decentralized finance space has been shifting and evolving. The industry is also becoming more scrutinized and, inevitably, more organized. Some weeks ago, United States President Joe Biden signed an Executive Order to expedite and focus regulatory oversight of the $3-trillion industry. The order will spur the government to examine
Following the withdrawal of former Federal Reserve Board governor Sarah Bloom Raskin, United States President Joe Biden has announced his intention to nominate former Obama administration official and law professor Michael Barr as the central bank’s vice chair for supervision. In a Friday announcement, the White House said Barr was Biden’s pick to supervise the
Lawmakers in Australia want to regulate decentralized autonomous organizations (DAOs). In this three-part series, Oleksii Konashevych discusses the risks of stifling the emerging phenomenon of DAOs and possible solutions. Crypto anarchy is unlikely to be the future that the majority of people support. Company regulation, in its essence, has a lot of positive aspects or
Paolo Ardoino, the chief technology officer of Tether and Bitfinex, is confident that Tether will preserve its status as the most used stablecoin, despite the rapid growth of competitors such as USD Coin (USDC). “If you see the volumes of Tether compared to the rest of stablecoins, they are insanely higher. They are even 10
An insider account of the DeSci origins story — a new movement of citizen scientists, open-access scientific research and crowd-sourced peer-review funded by crypto that’s gathering pace in 2022. # At ETHDenver in February, decentralized science became a thing. It was like the good old days of crypto: Like-minded spirits met and then crashed at
The Montenegrin government has begun fulfilling its pledge to become a hub for blockchain innovation by reportedly making Ethereum creator Vitalik Buterin its newest citizen. Montenegrin news outlet RTCB reported that Prime Minister Zdravko Krivokapić recommended Buterin receive the privilege to help the southeastern European nation promote its efforts to become a blockchain innovation hub.
During Paris Blockchain Week, Changpeng Zhao, CEO of Binance, the largest centralized cryptocurrency exchange in the world, sat down with Cointelegraph reporter Joe Hall for an exclusive interview. When asked about what excites him the most in crypto in 2022, Zhao said “We’re now seeing regulators who want to be a part of this industry.
To doxx (oneself) or not to doxx? That is a question faced by many operating in the cryptocurrency and blockchain space, including developers, influencers, and investors. Does one use one’s own name when venturing into the often chaotic and largely unregulated crypto world — or don an alias? Consider Embrik Børresen, developer of RobinHood Inu
The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates. The BoJ’s Executive Director, Shinichi Uchida made the announcement in his most recent public speech. “While the idea of using such a functionality as a means to achieve
The China Banking Association, the China Internet Finance Association and the Securities Association of China issued a joint statement warning the public about the “hidden risks” of investing in nonfungible tokens, or NFTs. In a Wednesday notice, the three associations launched initiatives aimed at encouraging innovation in the crypto and blockchain space focused on NFTs