South Korea to Pilot CBDC With 100,000 Citizens in 2024: Report
The Bank of Korea sees a CBDC as a potential answer to problems with existing government-issued grant systems, such as during the COVID-19 pandemic or childcare vouchers.
Policy
Binance’s Ex-CEO CZ ‘Poses a Serious Risk of Flight,’ Prosecutors Claim in Asking He Stay in U.S.
Binance CEO Changpeng Zhao leaves the U.S. District Court in Seattle, Washington. (David Ryder/Getty Images)
Digital Euro Isn’t Pressing, but Work Should Continue: Spanish Central Bank Governor
Europe’s “highly efficient” payment systems leave space to address social and financial concerns of a central bank digital currency, Pablo Hernández de Cos said.
Genesis Sues Gemini to Recover ‘Preferential Transfers’ Worth $689M
Crypto lender Genesis Global Capital has sued cryptocurrency exchange Gemini Trust, its former business partner, to recover more than $689 million.
Binance’s Busy Day, Kraken’s Second SEC Fight
Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng “CZ” Zhao, stepped down from his role running the platform as part of a settlement with multiple federal agencies. Meanwhile, Kraken is facing a lawsuit from the U.S. Securities and Exchange Commission that echoes the SEC’s previous wave of suits.
Binance Founder Changpeng ‘CZ’ Zhao Released on $175M Bond, Will Be Sentenced in February
Binance founder and former CEO Changpeng “CZ” Zhao has been released from custody on a $175 million personal recognizance bond.
Binance, Changpeng ‘CZ’ Zhao to Pay $2.85B Fine in CFTC Settlement
Crypto exchange Binance and its founder, Changpeng “CZ” Zhao will pay nearly $3 billion in fines to the Commodity Futures Trading Commission to settling the regulator’s lawsuit against it. The company is also settling with the U.S. Department of Justice and Treasury Department in parallel actions on Tuesday.
Binance to Make ‘Complete Exit’ From U.S., Pay Billions to FinCEN, OFAC on Top of DOJ Settlement
Crypto exchange Binance will leave the U.S., pay billions in fines and appoint a monitor for five years to settle charges with the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Asset Control (OFAC), the U.S. Treasury Department’s money laundering and sanctions watchdogs, according to press releases shared Tuesday.
After CZ Quits as Binance CEO, Richard Teng Looks Like the Heir Apparent
Richard Teng (Binance)
Celsius to Transition to Mining-Only NewCo After SEC Feedback in Updated Bankruptcy Plan
Crypto lender Celsius will transition to a new company that focuses only on Bitcoin mining, a shift from an earlier reorganization plan that included a focus on staking too.