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“# Nigeria is establishing a framework for widescale crypto adoption ” Nigeria’s Finance Ministry is reportedly in talks with the country’s securities regulator to develop a new framework for blockchain and cryptocurrencies — a move that could accelerate adoption in Africa’s largest economy. Business Day, a Nigerian market intelligence publication, reported Tuesday that the Ministry of…
“# What would Commerce Secretary Andrew Yang mean for crypto? ” President-elect Joe Biden is reportedly considering crypto-friendly Andrew Yang as his future Secretary of Commerce. According to a CNN report “based on conversations with Biden allies and advisers and Democrats with knowledge of the matter,” the president-elect may be tapping Yang, a former presidential…
“# Lithuanian tax service’s first confiscated crypto sale nets $7.6M ” The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies. The State Tax Inspectorate, or STI, the country’s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) and subsequently added the funds to the state budget….
“# BIS report suggests ‘embedded‘ monitoring tool for stablecoins ” Facebook’s proposal for its digital currency, Libra, was a wake-up call for international regulatory agencies, finance ministries and central bankers. All these actors recognized that the company’s reach across its three platforms had the potential to accelerate adoption of a global stablecoin to an unprecedented…
“# Crypto.com secures regulatory approvals from Maltese authorities ” Cryptocurrency exchange and debit card provider Crypto.com has scored major regulatory approvals from the Maltese government. According to a Nov. 24 announcement, the Malta Financial Services Authority, or MFSA, has granted Crypto.com two financial licenses: a Financial Institution License and a Class 3 Virtual Financial Assets,…
“# Biden plans for former Fed Chair and noted Bitcoin bear to lead US Treasury ” As President-Elect Biden continues to round out his roster of appointees, he has tapped an Obama-era chair of the Federal Reserve to lead his administration’s economic policy. According to a Wall Street Journal exclusive published on Nov. 23, the…
“# Crypto users speak out on proposed change to FinCEN Travel Rule ” Since the U.S. Federal Reserve and Financial Crimes Enforcement Network opened a proposed rule to acquire more information on smaller international transactions, many crypto users have labeled the measure as an invasion of privacy. On Oct. 23, the regulatory agencies published a…
“# US Fed researcher says CBDCs should beat Big Tech payments on privacy protection ” Cash usage has lost a ton of ground to digital payments as the pandemic has changed the way people transact worldwide. Some experts have recently argued that central bank digital currencies could solve the problem of leaving that payments data…
“# Russia’s Gazprombank debuts Bitcoin trading in Switzerland ” Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators. According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency solution in collaboration with its long-running partners like fintech…
“# Friendliest of them all? These could be the best countries for crypto ” As a burgeoning industry less than 13 years old, cryptocurrency has seen its fair share of regulatory crackdowns and changes, especially in the United States. Jake Yocom-Piatt, co-founder of Decred, however, sees the nation as the most crypto-friendly. “Cryptocurrencies are treated…