Crypto legislation in Australia could be dragged out past 2024 and beyond, with the government seemingly wanting to take its time in order to get a full picture of the industry, internal documents from the government have revealed. The documents, obtained by The Australian Financial Review under freedom of information laws, reportedly reveal that the...
Silvergate Bank announced the termination of the network for cryptocurrency transfers Silvergate Exchange Network (SEN), writes Reuters. The decision comes days after the crypto-focused bank said it was uncertain about the viability of its business. “Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services...
The American bitcoin exchange Coinbase launched the Crypto435 initiative aimed at promoting understanding and support of cryptocurrencies among politicians and regulators. As part of the initiative, Coinbase will provide all interested Americans with information on how to contact the politicians representing them, talk about their views on digital assets, and provide the necessary materials and...
The International Monetary Fund (IMF) would prefer to regulate digital assets, but does not exclude their ban when higher risks to financial stability appear. This was stated by the managing director of the organization Kristalina Georgieva in an interview with Bloomberg. Industry oversight is a top priority for the Financial Stability Board, the IMF and...
The EU authorities have changed their mind about banning anonymous crypto wallets, The Block reports. Changes to EU anti-money laundering regulations show that anonymous (non-custodial) wallets should not be banned, but they will still be subject to transaction restrictions. The European Commission proposed to ban the use of anonymous cryptocurrency wallets in the summer of...
The Proof of Stake Alliance (POSA), a nonprofit industry alliance, has published two white papers examining on the status of deposit tokens in United States securities and tax law on Feb. 21. The papers were authored by representatives of over 10 industry groups. Liquid staking is the practice on blockchains using a proof-of-stake consensus mechanism...
The two largest creditors of Mt.Gox, a cryptocurrency exchange that collapsed due to a hack in 2014, have decided to receive most of their losses in bitcoin, CoinDesk reported, citing people familiar with the matter. The Mt.Gox website appeared in 2006. It was a fantasy game developed by Jed McCaleb, who later co-founded Ripple and...
Japan, a nation where foreign stablecoins like Tether are prohibited, plans to begin its central bank digital currency (CBDC) pilot in April 2023. It aims to include private businesses and test a model of a CBDC ecosystem. On Feb. 17, the Bank of Japan (BoJ) released the opening speech of its executive director Shinichi Uchida...
A US regulator has sued blockchain platform Terraform Labs and its founder Do Kwon, alleging they raised billions of dollars from investors by selling securities to them under the guise of cryptocurrencies. The US Securities and Exchange Commission (SEC) has accused Terraform Labs and its founder Do Kwon of running a multi-billion dollar fraud scheme....
The share of Tether (USDT) in the stablecoin market exceeded 51% for the first time since May 2022. This past weekend, February 11-12, this figure reached 51.07%, and by February 13 it was 51.31%, according to CoinGecko. In second place is USD Coin (USDC) – it occupies 30.64% of the market, Binance USD (BUSD) accounts...
