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“# China’s central bank worried about stablecoins’ risk to financial systems ” The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official. Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), expressed concerns over the reportedly serious threat stablecoins…
“# New Zealand’s Reserve Bank consulting public on a potential CBDC ” The Reserve Bank of New Zealand says a central bank digital currency might be a “solution” to the ongoing reduction in the use of cash and that it will look more closely at the use of cryptocurrencies. The bank will open up public…
“# SEC closes in on settlements with US BitConnect promoters for millions ” The U.S. Securities and Exchange Commission (SEC) is nearing settlements with four U.S.-based individuals accused of promoting the multi-billion dollar crypto Ponzi scheme, BitConnect. According to Law360, the terms of the settlements are currently awaiting final approval from Judge John Koeltl. The…
“# Argentine lawmaker introduces bill for workers to be paid in crypto ” A member of the lower house of the Argentine National Congress has introduced legislation that would allow certain workers in the country to receive some or all of their salary in crypto. In a Tuesday tweet, Argentine Chamber of Deputies member José…
“# Robinhood’s cash cow under SEC scrutiny amid IPO filing ” Trading platform Robinhood could lose a significant revenue source should the United States Securities and Exchange Commission move to ban the controversial payment for order flows (PFOF) — routing retail trading orders to market makers. Brokers like Robinhood often use the practice to offset…
“# Iran pauses electricity exports due to crypto mining and hot summer ” Iran’s challenge with the ever-increasing electricity consumption reached new heights, leading the country to halt electricity exports. Abuzer Salihi, general manager of Iran’s electricity distribution company Tevanir, announced on state television that it has reduced electricity exports to zero “so that there…
“# Russian lawmakers prepare legal amendment to confiscate crypto ” Russian lawmakers are working on new legislation that would allow the government to confiscate cryptocurrencies, according to a senior official. Russian Prosecutor General Igor Krasnov claimed that the government is now developing a set of amendments to the country’s criminal code to allow authorities to…
“# ‘Compliance is a journey,’ says Binance CEO amid regulatory scrutiny ” Amid intensifying concerns over Binance’s global regulatory issues, the company’s CEO and founder Changpeng Zhao has underscored the exchange’s commitment to cooperating with regulators. In an open letter on Tuesday, Zhao emphasized that the cryptocurrency industry has massively evolved over the past four…
“# Pro-crypto Congressman stacks, anti-crypto Congressman receives $100K from TradFi ” News of two contrasting approaches to crypto from U.S. members of congress surfaced this week. Alabama Congressman Barry Moore has been loading up on cryptocurrencies such as Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) over the past two months. Meanwhile anti-crypto California Congressman Brad…
“#NY should make other COVID red-tape cuts permanent” Republican lawmakers in Albany are calling for a special session to revive the popular alcohol-to-go provision that has helped restaurants stay afloat during and after the pandemic. It’s a good idea — but it doesn’t go far enough. The alcohol-to-go provision is perhaps the most widely known…