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“# Bank of Indonesia joins central bank digital currency race ” The Bank of Indonesia is one of the latest global central banks to announce state digital currency plans amid a major spike in the country’s digital payments. Governor Perry Warjiyo said Tuesday that Indonesia’s central bank is planning to launch a digital rupiah currency…
“# Powers On… Why the SEC, CFTC or FTC needs to check in on Elon Musk’s frenzied crypto tweets ” Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is…
“#Feds signal crackdown on cryptocurrency after volatile week” The Federal Reserve and the Treasury Department are turning up the heat on cryptocurrency, signaling a crackdown could be coming after several days of volatility in the sector. Fed chair Jerome Powell said in a rare video message posted Thursday that cryptocurrencies, which have grown to have…
“# New OCC head requests review of cryptocurrency rules ” The United States’ banking regulator, the Office of the Comptroller of the Currency, is set to review cryptocurrency-related rulemaking following Brian Brooks’ departure. Michael Hsu, the newly-appointed Acting Comptroller of the Currency, has requested a staff review of former OCC rulemaking regarding the crypto industry…
“# Could DeFi-powered banks become an unstoppable force in finance? ” For decades, a lack of innovation has stifled the banking sector. We still live in a world where cross-border payments can take several days, and inefficient algorithms deny loans to consumers who can afford to pay them back — all because they don’t fit…
“# New bill would require candidates in Russian elections to declare crypto ” Russia’s State Duma has approved a new draft bill in its first reading that would require election candidates to disclose their crypto holdings, expenditures and purchases. The draft bill also asks election candidates to indicate a source of income for cryptocurrency purchases…
“# Inner Mongolia sets up hotline to report suspected crypto miners ” A new announcement from the Inner Mongolia Autonomous Region Development and Reform Commission, or DRC, has informed the public that they now have a direct way to report on any outlying cryptocurrency operations in the region. As previously reported, Inner Mongolia was once…
“# Indian government is rethinking crypto ban: The Economic Times ” Reports are emerging that India’s government may be reconsidering its stance on cryptocurrencies with the formation of a new regulatory panel. A May 19 report in the Economic Times, cited three sources privy to discussion on the formation of a fresh panel of experts…
“# Nebraska bill to allow banks to offer crypto services passes to final round ” Lawmakers in the U.S. state of Nebraska have taken another step towards passing a bill that will allow state banks to offer cryptocurrency services. According to a May 19 tweet from Senator Julie Slama, the legislature called LB 649 has…
“# US lawmaker introduces bill aimed at protecting ‘forked assets’ from IRS ” Minnesota Rep. Tom Emmer has reintroduced a bill aimed at preventing the IRS from imposing penalties or fees on crypto taxpayers with forked assets. In an announcement from Emmer on Monday, the congressperson from Minnesota said he had once again introduced the…