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” The Philippines to launch pilot CBDC implementation “ As the world of finance continues to transform, new forms of money are challenging traditional monetary infrastructures that have been around for a long time. Currently, central bank digital currencies (CBDCs) have caught the eye of various countries, including the Philippines. In a joint event organized…
” Thailand reportedly exempts 7% crypto tax for traders on authorized exchanges “ The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market. The changes to the tax regulations come just a few weeks after the government scrapped its early plans of introducing a 15%…
” Chinese police bust illegal crypto mining farm, seize 190 miners “ The Guangdong province’s Development and Reform Commission has reportedly busted an illegal crypto mining farm secretly operating in an electric vehicle charging station. The secret crypto mining farm was busted in the city of Guangzhou, where law enforcement agencies have constantly been making…
” Swiss crypto bank Sygnum secures in-principal approval in Singapore “ Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, is expanding services after securing new regulatory approval from local authorities. The company announced Tuesday that Sygnum Singapore received in-principle approval from the Monetary Authority of Singapore (MAS) to offer three additional regulated activities under…
” VanEck files for new ETF to track crypto and gold mining companies “ VanEck, an investment firm with almost $82 billion in assets under management, has submitted an application to the United States Securities and Exchange Commission (SEC) for the launch of a new exchange-traded fund that invests in gold mining and Bitcoin (BTC)…
” FinCEN includes crypto in alert on Russia potentially evading sanctions “ The United States Financial Crimes Enforcement Network, or FinCEN, a bureau of the Treasury Department, has warned financial institutions to consider crypto as a possible means Russia may attempt to use to evade sanctions related to the country’s military action in Ukraine. In…
” European Parliament will hold vote on crypto bill without PoW provision “ The parliament of the European Union has scheduled a vote on a framework aimed at regulating cryptocurrencies after addressing concerns over proof-of-work mining. In a Monday Twitter thread, European Parliament economics committee member Stefan Berger said the committee will vote on the…
” Clear regulations will accelerate crypto adoption, says SEBA Bank exec “ With crypto being in the sights of many regulators, many have wondered if regulation is good or bad for crypto. However, Christian Borel, Senior Executive Officer at SEBA Bank, says that if the laws are clear, it may push crypto adoption forward. In…
” Stablecoins will have to reflect and evolve to live up to their name “ In the case of stablecoins, unfortunately, the name is so far a misnomer. The fact that stablecoins are pegged to a “real” asset does not equate to stability. Traditional underlying assets are not exempt from market fluctuations, and with the…
” Crypto industry seeks to educate, influence US lawmakers as it faces increasing regulation “ Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by…