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“# Digital currencies won’t impact US sanctions, Treasury exec says ” Central bank digital currencies (CBDC) like Russia’s digital ruble do not pose any threat to United States sanctions, according to U.S. Deputy Treasury Secretary Wally Adeyemo. In a CNBC interview on Wednesday, Adeyemo argued that the U.S. dollar “will remain the dominant currency in…
“# Reserve Bank warns Aussies over punting on ‘fad driven’ cryptocurrencies ” The Reserve Bank of Australia (RBA) has warned Aussie investors about speculating on digital assets as it casts doubt over the entire crypto sector. During a Nov. 18 address to the Australian Corporate Treasury Association, the RBA’s head of payments policy Tony Richards…
“# Robinhood exec says proposal for a single digital asset regulator is stupid ” Robinhood’s chief legal officer Dan Gallagher described the idea of creating a new digital asset regulator was “just plain silly” at a conference on Nov. 17. Robinhood is a popular commission-free trading app that offers digital assets, and rival crypto asset…
“# US lawmakers introduce bill to ‘fix’ crypto reporting requirement from infrastructure law ” A bipartisan group of United States lawmakers has introduced legislation to change the tax reporting requirements that will go into effect due to the recently signed infrastructure bill. House Representatives Patrick McHenry and Tim Ryan introduced the Keep Innovation in America…
“# Bank of Russia plans to take fees for CBDC transactions: Report ” The Russian central bank continues to disclose more details about its upcoming digital currency and is now reportedly planning to take commissions for the digital ruble transactions. The fees for Russia’s central bank digital currency (CBDC) transactions will be lower than those…
“# US city sets up Bitcoin ATM in airport after crypto payment adoption ” The North Dakota’s City of Williston continues exploring and adopting the cryptocurrency industry by elevating a crypto automated teller machine (ATM) in its international airport. The city’s administration officially announced the installation of the “government-hosted cryptocurrency kiosk” at the Williston Basin…
“# Indian PM urges democratic countries to collaborate on cryptocurrencies ” India appears to be taking a progressive stance on Bitcoin (BTC). Especially given the fact that the country is attempting to reach a uniform viewpoint on the categorization and legality of this new asset class. Amid a slew of cabinet meetings, industry debriefings and…
“# Lawmakers push back on crypto provisions in Infrastructure Bill ” Lawmakers from both sides of the aisle are fighting back against changes to tax reporting rules for crypto brokers and transactions over $10,000 in the newly passed Infrastructure Bill. Ten U.S. Democratic Congresspeople led by Rep. Darren Soto from Florida called for revisions to…
“# U.S. is not moving fast enough to develop a CBDC, says former CFTC chair ” Tim Massad, who served as chair of the Commodity Futures Trading Commission until 2017, said the United States is too slow in developing a plan to modernize its payment systems. In a Wednesday hearing of the Joint Economic Committee…
“# Fidelity clears regulatory hurdle to become Canada’s first institutional Bitcoin custodian ” As reported by The Globe and Mail, Fidelity Clearing Canada received approval from the Investment Industry Regulatory Organization of Canada on Wednesday to launch a Bitcoin (BTC) trading and custody platform. It is designed for use by institutional investors — such as…