Singapore wants to bring some adult supervision to crypto
The city-state wants to position itself as a hub for cryptocurrency service providers while holding onto its reputation as an important cog in the global AML, ATF compliance machinery.
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Crypto regulation has to ‘take its time’: India FM Nirmala Sitharaman
Regulating crypto will take time to ensure the government takes a considered approach, Indian finance minister Nirmala Sitharaman said at Stanford University on Wednesday. See related article: Indians see future in crypto, government sees revenue, FM says Fast facts “We recognize that there is a lot of potential and already well-grounded progress made in the…
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Tax authorities in China jump onto NFT bandwagon
More state departments in China are embracing NFTs, with tax bureaus in Shanghai and Chengdu releasing tokens based on Tencent’s blockchain. See related article: ‘Voice of April’ NFTs highlight Shanghai’s struggles amid harsh lockdown Fast facts Shanghai will drop 2,000 NFTs themed on its tax office mascot on Friday. Chengdu’s tax office dropped 1,000 NFTs…
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Philippines central bank to trial wholesale CBDC
Bangko Sentral ng Pilipinas (BSP) will launch a wholesale central bank digital currency (CBDC) pilot project, coined CBDCPh, as part of its efforts to promote the stability of the country’s payment system. See related article: Report: Stablecoins, CBDCs may not resolve financial inclusion, international remittance challenges Fast facts The central bank’s pilot will test the…
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South Korean police arrest man behind NFT sale of cat-like character CatSle
The Seoul Metropolitan Police Agency’s cyber bureau has arrested a 26-year-old man for allegedly defrauding nine investors of 210 million KRW (US$165,798) over the sale of non-fungible tokens (NFTs) of a cat-like character named CatSle. See related article: S.Korean regulators to strengthen watch over NFTs and the metaverse Fast facts According to the police, the…
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Bitcoin mining difficulty hits new high in latest adjustment
Bitcoin mining difficulty reached yet another all-time high on Wednesday, logging a 5.56% increase from the last adjustment two weeks ago. See related article: Almost 60% of Bitcoin mining now on sustainable energy: BMC Fast facts The mining difficulty level is now at 29.79 trillion at block height 733,824, after it saw a drop of…
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Bitcoin officially legal tender in Central African Republic
The Central African Republic (CAR) became the second country in the world — and the first in Africa — to adopt Bitcoin as legal tender on Wednesday. See related article: What does El Salvador’s new Bitcoin law mean for crypto markets? Fast facts President Faustin-Archange Touadera on Wednesday approved the bill regulating cryptocurrencies, which passed…
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Hong Kong flirts with e-HKD as it talks of marriage with e-CNY
The city’s de facto central bank Wednesday sought public consultations on the e-HKD, as the Hong Kong Monetary Authority (HKMA) chief expressed concerns on a retail digital Hong Kong dollar intensifying competition in the retail payments space. See related article: Hong Kong to press ahead with digital dollar, e-CNY plans Fast facts See related article:…