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“# Bahamas ranked first for retail CBDC development, according to PwC ” A new ranking of global central bank digital currencies, or CBDCs, places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies. In its 2021 CBDC Index, global…
“# South Korea plans interagency crackdown on illegal crypto transactions ” Several South Korean financial authorities are planning to join forces to combat illegal operations involving cryptocurrencies like Bitcoin (BTC). The interagency crackdown comes in response to growing concerns over speculative investments and potentially illegal activities amid the ongoing boom in crypto markets, Koo Yun-cheol,…
“# Crypto users demand reinstatement of Pakistani government adviser following sudden resignation ” Many users on social media have started an online campaign for Pakistan Prime Minister Imran Khan to bring back pro-crypto adviser Zia Ullah Bangash. On Saturday, Bangash, the science, technology, and information technology adviser to Mahmood Khan, the chief minister of the Khyber…
“# More IRS summonses for crypto exchange account holders ” The United States Internal Revenue Service has been hunting crypto vigorously for more than five years now, and the pace is getting faster. A couple of decades ago, the IRS was after offshore accounts, and that effort was among the most successful in the IRS’…
“# A nightmare on Stable Street: Centralized stablecoins may be doomed ” Over the last couple of years, we have seen a lot of interest from central banks and governments in the stablecoin market. The reason behind it lies in the development of central bank digital currencies, or CBDCs. The idea of issuing a digital…
“# You can’t talk about blockchain and not bring up CBDCs and stablecoins ” Ever since the publication of Satoshi Nakamoto’s white paper back in November 2008, “Bitcoin: A Peer-to-Peer Electronic Cash System,” the term “blockchain” has been synonymous with digital currencies in the sense of the underlying technology that allows for the transfer of…
“# Massachusetts regulator seeks to revoke Robinhood’s broker-dealer license ” Massachusetts’ securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state. William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing…
“# Miami commissioner wants to let residents pay taxes in Bitcoin ” A Miami-Dade County commissioner is backing a new resolution to allow residents to use cryptocurrencies like Bitcoin (BTC) to pay local taxes. According to a Thursday document acquired by The Miami New Times, county commissioner Cohen Higgins has brought a resolution to Miami-Dade’s…
“# Finance officials pour cold water on cryptocurrency amid Coinbase celebrations ” Finance officials from both sides of the globe are taking the opportunity to criticize the value and utility of cryptocurrencies as media focus intensifies on the space following Coinbase’s direct listing on the Nasdaq. Bank of Korea governor Lee Ju-yeol said cryptocurrencies had…
“# There will be drama, warns WEF expert on Bitcoin regulation ” Those who oversee the traditional finance sector won’t just let Bitcoin (BTC) wander off into the sunset without a fight. That’s the sentiment expressed by the World Economic Forum’s head of blockchain and digital assets, Sheila Warren, who said a “dramatic” round of…