Tag: regulation

The Coinbase CEO has a lot of faith that Congress will make a “clear rule book” for crypto firms to follow. But the Securities and Exchange Commission? Not so much. United States-founded cryptocurrency exchange Coinbase has no plans to move its operations out of the U.S., CEO Brian Armstrong told investors in an Q1 earnings…

Asking exchanges to identify users might seem like a minor inconvenience, but could it drive DeFi firms overseas, and would crypto users even care? Cryptocurrencies were designed to be anonymous or pseudonymous, so there is an inherent tension when protocols come up against jurisdictional authorities. In the United States, the blockchain and cryptocurrency sector has…

The authorities claimed the exchanges allowed cybercriminals to flout anti-money laundering measures. Nine digital currency exchanges allegedly aiding and abetting cybercriminals had their domains seized by the United States Federal Bureau of Investigation (FBI) and Ukrainian law enforcement. According to a May 1 press release, the FBI’s Detroit Field Office and the National Police of Ukraine…

International Monetary Fund Managing Director Kristalina Georgieva says that wholesale CBDCs, on the other hand, have “fairly little space for undesirable surprises.” A myriad of unforeseeable “consequences” will be brought about by retail central bank digital currencies (CBDCs), the managing director of the International Monetary Fund has claimed. The IMF’s Kristalina Georgieva erred on the…

Investing in assets “outside of the traditional financial system” is the only way to preserve one’s wealth, according to the former BitMEX CEO. The majority of people will have their wealth progressively eaten away by the devaluation of money, according to Arthur Hayes, the co-founder and former CEO of crypto derivatives exchange BitMEX. According to…

Banking giant JPMorgan will take over the assets of the troubled First Republic Bank after its seizure by the California Department of Financial Protection and Innovation. The American banking giant JPMorgan Chase is set to acquire First Republic Bank’s (FRB) assets after early efforts to rescue it failed. JPMorgan and multiple other banks submitted a…