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Regulation
The United Arab Emirates plans to implement a central bank digital currency as early as 2023 Gulf News reports, as outlined in a road map for the Gulf State’s economic future. Fast facts This 2023-2026 roadmap includes seven objectives — including the CBDC rollout — with the aim of making the UAE one of the […]
Lachlan Keller
Regulation
South Korean lenders Kbank, Nonghyup Bank and Shinhan Bank have decided to extend their affiliations with cryptocurrency exchanges until a crypto exchange law compliance deadline of Sept. 24. Fast facts Kbank’s contract ended in June, and Nonghyup and Shinhan’s end in late July. Instead of renewing their contracts with the exchanges, the three banks have […]
Danny Park
Regulation
Ban on branded content covers range of financial services and ‘get-rich-quick’ schemes boosted by influencers with young followings.
Timmy Shen
Regulation
Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]
Michelle Lim
Regulation
Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.
Timmy Shen
Regulation
U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]
Lachlan Keller
Regulation
El Salvador’s government may face challenges in making Bitcoin legal tender, as more than three-quarters of the country remains skeptical of the plan, according to a report by Reuters. Fast facts A survey of 1,233 people across El Salvador earlier this month found that 54% of people said Bitcoin adoption was “not at all correct.” […]
Lachlan Keller
Regulation
Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?
Michelle Lim
Regulation
Solidifying its stance against cryptocurrency like Bitcoin, the Bank of Thailand declared yesterday that it does not support the use of cryptocurrency as a means of payment, likening crypto transactions to “barter trade” as the bank does not consider crypto legal tender. Fast facts Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy for […]
Lachlan Keller
Regulation
Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.
Danny Park
