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” ECB lays out ‘anonymous’ digital euro as public opposes ‘slavecoins’ “ The ECB released another working paper on the digital euro, providing an extensive technical analysis of a potential European CBDC and its position in the existing financial system. Issued on May 13, the working paper aims to study issues like financial intermediation, payment…
” Chairman of the Digital Euro Association: ‘The primary aim of the digital euro is still not clear’ “ The European Central Bank (ECB) is planning to launch a prototype of the digital euro in 2023. In the next five years, Europe could have its own central bank digital currency (CBDC) up and running. However,…
” SEC’s Hester Peirce says new stablecoin regs need to allow room for failure “ Commissioner Hester Peirce — also known as the Securities and Exchange Commission’s (SECs) “crypto mom” — has backed a regulatory framework for stablecoins that allows “room for there to be failure.” Speaking at an online panel on May 12 hosted…
” Shanghai court affirms that Bitcoin is virtual property, subject to property rights “ The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving…
” US Senate confirms Jerome Powell for another four years as Fed chair “ The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve System until 2026. In an 80–19 landslide vote on the Senate floor on Thursday, U.S. lawmakers confirmed Powell…
” Germany outlines favorable tax guidelines, gains on BTC and ETH sold after a year tax-free “ The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction on the tax requirements for acquiring, trading…
” Stablecoins’ recent de-pegging is not a ‘real threat to financial stability,’ says Janet Yellen “ According to United States Treasury Secretary Janet Yellen, the stablecoin market is not at the scale at which the drop in the price of TerraUSD (UST) and Tether (USDT) below $1 would present a threat to the country’s financial…
” Crypto needs regulation but should be done right: Report and database “ Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing…
” Untethered: Here’s everything you need to know about TerraUSD, Tether and other stablecoins “ The crypto winter could be claiming more casualties among the stablecoin camp. The depegging of TerraUSD (UST) on May 10 triggered market selloffs, and now Tether (USDT) appears to be losing its footing. It has slipped against the U.S. dollar….
” Terrible crypto trader gets 42 months for fraud, claiming he was a total gun “ A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated…