The Institute of International Finance (IIF) has published an assessment of the European Commission’s proposed legislation on the digital euro. It gave the bill middling marks. The IIF is a financial industry global advocacy group headquartered in Washington, D.C. with members in 60 countries. It rated the digital euro bill introduced in June and the
Regulation
A bill aimed at regulating certain internet services in the United Kingdom, including activities in the metaverse, has passed through Parliament and awaits King Charles’ approval to become law. In a Sept. 19 announcement, the U.K. government said the Online Safety Bill had passed through a final debate in Parliament and will become law in
As Brazilian lawmakers discuss the bill that would grant strong protection to a sizable portion of the savings assets of debtors, a separate initiative is seeking to include crypto in the latest version of the bill. Bill number 4.420/2021, authored by Deputy Carlos Bezerra, is currently being considered by the Constitution, Justice and Citizenship Committee
The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes. According to a Sept. 15 press release, the three institutions conducted an International Organization of Securities Commissions (IOSCO) Investigation
A three-judge panel from the United States Court of Appeals for the Second Circuit has reportedly taken arguments from lawyers representing former FTX CEO Sam Bankman-Fried (SBF) under advisement in considering releasing him from jail prior to his October trial. SBF’s defense team and the U.S. Attorney’s office were each given roughly five minutes to argue
There is a “real risk” that the artificial intelligence industry could develop in a way that could end up with only a few firms dominating the market, while consumers are bombarded with harmful information, according to the United Kingdom’s competition watchdog. In a report published Sept. 18, the Competition and Markets Authority looked into AI
Hester Peirce, one of five commissioners with the United States Securities and Exchange Commission (SEC) and an outspoken proponent of crypto, has urged lawmakers and regulators for clarity on digital assets. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Peirce said she wouldn’t have expected the SEC to be
The New York State Department of Financial Services, or NYDFS, has called on the public to provide feedback to a proposal aiming to strengthen regulatory requirements for crypto firms operating in the state. In a Sept. 18 notice, the NYDFS said Superintendent Adrienne Harris had released proposals on guidance for “enhanced criteria for coin-listing and
Nine United States Senators have added their support to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a statement from Warren’s office. The press release on Warren’s official senate webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent
Trading activity on Binance.US has reached new lows in September, as the crypto exchange faces unprecedented challenges. On Sep. 16, exchange volume stood at $5.09 million on Binance.US, as reported by Amberdata on The Tie Terminal. The lowest point for the month was on Sep. 9, when trading activity totaled $2.97 million. This is a significant
The Hong Kong Monetary Authority (HKMA) has issued a warning to users that crypto businesses presenting themselves as banks and using banking terminology could be violating the region’s banking laws. In a press release, the HKMA said that using certain banking terms may be misleading the public, causing users to think that the crypto firms
NRL quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash have reportedly settled a lawsuit over alleged inadequate compensation disclosure in their promotions for the now-defunct cryptocurrency exchange FTX. According to a Sept. 16 Bloomberg report, the three high-profile individuals have entered proposed agreements, however the settlement terms were not disclosed. Among the
Top Stories This Week Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee The Bitcoin miner who received 19.8 BTC in fees from blockchain infrastructure firm Paxos has returned the funds following Paxos’ claim that it made a mistake in paying over $500,000 in transfer fees. On Sept. 10, Paxos paid the six-figure
Lawyers representing Gemini Trust have pushed back against a plan proposed by Digital Currency Group (DCG) for creditors of Genesis Global. In a Sept. 15 filing in the United States Bankruptcy Court for the Southern District of New York, the legal team accused DCG of gaslighting Genesis creditors through “contrived, misleading, and inaccurate assertions” in
On Sept. 15, the United States government responded to questions the defense has suggested posing to potential jurors during their selection for the case against former FTX CEO Sam Bankman-Fried, often known as SBF. He faces seven charges of fraud and money laundering in connection with the collapse of the cryptocurrency exchange that could land
Binance Holdings CEO Changpeng Zhao (CZ) has shot down speculation surrounding the departure of Binance.US CEO Brian Shroder, noting that he is “taking a deserved break” after a successful stint at the company. Binance.US is a subsidiary of Binance Holdings, and the U.S. based exchange has seen a handful of other top executives recently step
Crypto exchange JPEX has reportedly increased its withdrawal fee to up to 999 Tether (USDT) after receiving a warning from Hong Kong’s Securities and Futures Commission (SFC). The staff of the exchange has also been reportedly missing from its Token 2049 booth in Singapore. On Sept. 13, the SFC, Hong Kong’s crypto watchdog, issued a warning
Hong Kong was crowned the best-prepared jurisdiction for widespread cryptocurrency adoption in 2023, retaining its crypto-readiness prowess for the second year in a row. A study factoring in the existence and reach of crypto — via ATMs, businesses, accessibility and legality — revealed stiff competition among the 2022 leaders as Hong Kong, the United States
Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to
In July, the American state of Wyoming shared an open job position for the head of its Stable Token Commission. The executive will work alongside Wyoming’s governor, state auditor, state treasurer and four expert appointees to bring the state’s very own stablecoin to life. While Wyoming was the first to pass a law on a
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