In the wake of the collapse of TerraUSD, an algorithmic stablecoin, it was widely expected that financial regulators would take swift action to set some ground rules for stablecoins. (See “Terra LUNA 99% Crash: How Did It All Go...
Introduction With success comes accountability. So it is with the crypto sector. As the sector grows in size, importance and sophistication, the United Kingdom’s financial policymakers – government, parliament, and regulatory bodies (such as the Financial Conduct Authority (FCA), ...
On 24 March 2022, the Financial Policy Committee (FPC) of the U.K.'s central bank, the Bank of England (BoE), published a document titled: “Financial Stability in Focus: Cryptoassets and decentralised finance”. In it, the BoE sets out its views...
The United States’ securities regulator, the Securities and Exchange Commission (SEC) has stated that it was postponing its decision on the outcome of the proposal that Grayscale Bitcoin Trust had submitted concerning its spot bitcoin Exchange Traded Fund (ETF)....
Jerome Powell, the United States Federal Reserve Chairman has the opinion that cryptocurrency won't affect the US economy negatively, nor would it lead to a financial instability scenario in the markets. Though he holds this opinion, Powell believes that...
A set of six United States Senators has requested that Janet Yellen, the Treasury Secretary, clarify the conditions linked to crypto taxation that are contained in the infrastructure bill that was signed into law by the President of the...
The Reserve Bank of Australia (RBA) recently published a report on the research on its wholesale Central Bank Digital Currencies (CBDC) project. The report stated the benefits that the project which is based on Distributed Ledger (DLT) technology will...
On December 7, 2021, the Eastern Caribbean Central Bank (ECCB) started the operation of its digital payments system in two additional regions, the British overseas territory of Montserrat and the Commonwealth of Dominica. In March 2021, the ECCB in...
The paramount bank and regulatory authority in Thailand, The Bank of Thailand, has banned commercial banks in the country from getting involved in crypto activities, especially trading crypto assets. Chayawadee Chai-Anant, the central bank chief executive, released an edict...
The director of the Russian Federal Tax Service (SNSF), Daniil Egorov, has announced during an interview with a Russian publication- RBC- that the agency is currently monitoring the crypto scene to stop tax evasion activities. In the interview, he...
