Financial Stability Board calls for high regulatory standards for stablecoins
The failure of a crypto market player may have spillover effects on traditional finance such as short-term funding markets, says the Basel-based international body.
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Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
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Why Bitcoin is still a good investment despite the bear market
BTC remains a safe haven for investors for the long term amid this year’s soaring inflation and market volatility, writes Josef Tětek of SatoshiLabs.
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Bitcoin, Ethereum rebound pulls back amid worries of BTC dump from Mt. Gox, Celsius
Gains made by two of the world’s largest cryptocurrencies were partially eroded as speculation of a glut of Bitcoin from Mt. Gox’s customers and creditors and Celsius Network’s payback of its debt circulated over the weekend.
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South Korea’s SK Telecom to build its first Web3 wallet
SK Telecom has partnered with blockchain firms AhnLab Blockchain Company and Atomrigs Labs to develop and operate a digital wallet for cryptocurrency management and Web3 access, the South Korean telecommunications giant announced on Monday. See related article: South Korea’s second-largest conglomerate to issue own cryptocurrency Fast facts SK Telecom said users of its wallet will…
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Binance gets nod from Spain to offer crypto exchange, custody services
Binance’s third approval in Europe came after the Bank of Spain allowed its Spanish subsidiary to register as a virtual asset services provider (VASP), the world’s largest crypto exchange by volume said Friday. See related article: SEC said to probe Binance for rule violation in 2017 initial coin offering: report Fast facts The registration will…
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Crypto investments to count when determining conflict of interest: US gov’t ethics watchdog
The U.S. Office of Government Ethics (OGE) said federal employees of the executive branch owning cryptocurrencies or mutual funds investing in the sector need to recuse themselves from any matter related to the industry. See related article: CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins Fast facts The July 5 memo clarified that the…
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Circle says customers could redeem all of USDC in one day
In an exclusive interview with Forkast Editor-in-Chief Angie Lau, Circle Chief Financial Officer Jeremy Fox-Geen said reserves backing the so-called USDC stablecoin are ring-fenced from any potential fallout from the contagion engulfing crypto markets.
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Singapore’s low taxes draw Japan’s Web 3.0 companies
A large number of Japanese Web 3.0 companies are moving to or at least setting up new offices in Singapore, executives from Japanese blockchain gaming infrastructure builder Oasys told Forkast on Friday. See related article: Japan’s government approves policy to drive Web 3.0 adoption Fast facts Japanese firms operating in the Web3 sector need to…
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Hong Kong SFC boss Ashley Alder to head UK’s Financial Conduct Authority
The U.K. Treasury on Friday named Hong Kong Securities and Futures Commission (SFC) CEO Ashley Alder as chairman of the U.K. Financial Conduct Authority (FCA). He is expected to start in January next year. See related article: UK finance watchdog to spend £11M to warn young people off crypto investment Fast facts See related article:…