Regulation

Recent comments from Jerome Powell, the chairman of the U.S. Federal Reserve, show the American government is not especially concerned with speed when it comes to developing a central bank digital currency, or CBDC. In contrast, Morgan Creek Digital co-founder Anthony Pompliano argues that time is of the essence.   “They’re talking about like, maybe we’ll build
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As part of DC Fintech Week, a digital conference on the governmental side of the financial technology sector, several international leaders gathered for an Oct. 19 panel called: Central Banks, CBDCs and Cryptoeconomics.  “I don’t see technological barriers in this area, but I do see technological challenges,” Cecilia Skingsley, First Deputy Governor of Riksbank, the central bank
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Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers! Top Stories This Week Calm before the storm? Analyst says $20,000 Bitcoin is possible in three months Bitcoin volatility has fallen to a 16-month low, indicating that a sharp move is on the horizon. Large
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In January 2020, the European Union released its Fifth Anti-Money Laundering Directive to increase transparency while tackling fraud, money laundering and cybercrimes. The 5AMLD extended the scope of customer due diligence checks, introduced domestic and politically exposed persons, extended the creation of central registrars of beneficial ownership, and extended Anti-Money Laundering checks to majority-owned subsidiaries
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Law enforcement officials from around the world hav taken action against a major transnational money laundering operation involving cryptocurrency. On Oct. 15, Europol announced a successful operation across 16 countries that resulted in the arrest of 20 individuals suspected of working for the QQAAZZ criminal network. The organization is accused of laundering tens of millions
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The founder of major global cryptocurrency exchange OKEx has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals. OKEx founder Mingxing Xu, also known as Star Xu, has reportedly been questioned by the police, Chinese news agency Caixin reported on Oct. 16. According to the report, the exec was investigated “at least a
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Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties. However, many countries have determined that Bitcoin doesn’t behave as a currency at all,
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The New York Department of Financial Services (NYDFS) has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC).  Far beyond the immediate material impact, the NYDFS states that the incident exposed the deep cybersecurity weaknesses of a publicly-traded social media company valued
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Major crypto asset exchange OKEx has suspended cryptocurrency withdrawals, announcing that one of the holders of its private keys is “currently cooperating with a public security bureau” with regard to ongoing “investigations.” The exchange noted that it has been “out of touch” with said key-holder, preventing the exchange from being able to complete the “associated
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Awaiting parliamentary approval in Spain, a fresh bill draft intends to cut out illegal tax dealings, as first reported by Cointelegraph’s Spanish branch. This could mean smaller business transactions as well as mandatory crypto-asset reporting, even for assets held or transacted internationally. The “Draft Law on Measures to Prevent and Combat Tax Fraud” recently received
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In a draft of a statement expected to be released tomorrow, countries representing the world’s largest economies said that they would initially oppose the launch of Facebook’s Libra project. According to an Oct. 12 report from Reuters, central bankers and finance ministers from the United States, Canada, Japan, Germany, France, Italy, and the U.K (also
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The U.S. Department of Justice has released an international statement claiming that end-to-end encryption “poses significant challenges to public safety,” including sexually exploited children.  In an Oct. 11 statement from the DoJ, the agency called on technology companies to work with the government to find a solution for strong data encryption with the means to
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