Central Banks Aren’t Sufficiently Ready for CBDC Risks: BIS Report
The introduction of central bank digital currencies could have major implications on the stability, the report said.
Regulations
Miami Crew Leader Sentenced to 63 Months in Prison for Crypto Fraud
In April, Esteban Cabrera Da Corte pleaded guilty to participating in a crypto scheme that defrauded U.S. banks of $4 million.
Digital Asset Investment Platform Fasset Wins Operational License in Dubai
Fasset, a digital asset investment platform, has won the licence to operate in Dubai as a Virtual Asset Service Provider (VASP), allowing it to serve institutional investors, qualified investors and retail investors.
The Algorand Foundation Expands Its Footprint in India
Blockchain protocol Algorand (ALGO) has expanded its footprint in India by securing new partnerships with NASSCOM, India’s trade body and chamber of commerce for the tech industry, T-Hub, a prominent innovation hub, and the Mann Deshi Foundation which supports India’s first rural bank for women.
U.S. Treasury Campaigning for Amplified Powers to Chase Crypto Overseas
The U.S. Department of the Treasury is pressing lawmakers for a new set of powers that would give the government unprecedented enforcement and sanctions authority over the crypto sector, including the ability to roam well beyond American borders and get involved with transactions that don’t involve its citizenry.
IOTA Jumps 43% After Registering Ecosystem Foundation in Abu Dhabi
Native token of the Iota ecosystem [IOTA] jumped 35% Wednesday on news about registering a development foundation in Abu Dhabi.
UK to Hit Crypto Users With Penalties for Unpaid Taxes
The Treasury encouraged users to voluntarily disclose unpaid income or capital gains tax from crypto, NFT and utility token holdings.
Central Bank Project Shows CBDC Payments Can Be Private
The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said.
Fiery Public Hearing on Digital Euro Sees Experts Diverge on Key Issues
Expert witnesses answered lawmaker questions on holding limits, impact on banking systems and privacy for an EU central bank digital currency.
Hong Kong Chief Says Regulators May Get Powers to Crack Down on Unlicensed Crypto Exchanges: Report
The Securities and Futures Commission said it does not have the power to close unlicensed crypto exchanges.