British Virgin Islands Court Orders 3AC Founders to Attend Examination on May 22
The 3AC founders will be found in contempt of court if they fail to reply to the order.
Policy
Consider DLT Use When Judging Money Laundering Risks, EBA Advises Supervisors
Draft guidance from the EU banking watchdog picks out crypto technology for scrutiny and proposes vetting procedures for senior staff.
What the Bank of England’s Stablecoins Regime Could Look Like
The Bank of England’s upcoming crypto regime would try to ensure that funds are returned to customers when certain crypto firms enter a crisis.
EU Money Laundering Law Won’t Prevent Crypto Payments, Lead Lawmaker Says
The new legislation, which will be put to vote on Tuesday, is set to impose new restrictions on transactions from self-hosted wallets.
Sam Bankman-Fried’s Lawyers, Prosecutors Agree on Proposed Bail Conditions
The FTX founder will be given a new phone without internet access and a laptop with limited functionality.
CFTC Could Force Binance to Cease U.S. Operations as Part of Settlement: Bernstein
The crypto exchange will look to safeguard its dominant international business, which is its cash cow, the report said.
EU Smart Contract Regulations Included in Council’s Data Act Draft
Some worry the text, a version of which was already agreed on by the European Parliament, will prove impossible to meet for most smart contracts.
The UK Has Created Crypto Banking Problems
U.K. lobbying groups and lawmakers have been complaining that crypto clients can’t find a bank and are faced with restrictions, so they are calling the government to act.
Federal Reserve Says Custodia’s Plans Would Endanger Itself and the Crypto Industry
The Federal Reserve Board argued that Custodia Bank’s proposed business model was “inconsistent” with approval in an order explaining its denial of the Wyoming-based crypto bank’s application for membership.
UAE Unveils CBDC Strategy, First Phase to Be Completed by Mid-2024
The United Arab Emirates expects to complete the first phase of its central bank digital currency strategy over the next 12 to 15 months.