The Financial Services Commission supports a new bill that will require exchanges to compensate users if they halt withdrawals as they’ve been doing amid the FTX collapse.
The Maritime Academy of Asia and the Pacific (MAAP) have launched an e-wallet to contain the credentials of cadets using blockchain technology.
The central bank stated that the pilot would be conducted with a trio of mega banks and regional banks with a keen focus on the issuance and withdrawals of the state-backed digital currency.
Thirteen central banks met in Kenya recently to discuss the impact of CBDCs on cross-border payments while still ensuring AML and CFT standards are adhered to.
FTX Japan halted withdrawals amid the collapse and bankruptcy filing of SBF’s FTX empire, with Japan’s regulator, FSA, ordering it to suspend operations.
The Capital Markets (Amendment) Bill will be the first law to govern the digital asset industry and will impose taxes akin to the existing 20% excise duty.
The regulator disclosed that Block Earner, a firm backed by Coinbase and Aave, also operates an unregistered managed investment scheme that violates Australia’s capital market laws.
China's foreign exchange bureau says there is a need to regulate and classify the digital asset sector to improve the country's monitoring of illegal forex transactions.
The Financial Services Commission is hinging its argument on the grounds that digital assets is an umbrella term covering virtual currencies and CBDC and should not be used interchangeably.
NYAG Letitia James also requests the scrapping of two Acts currently on the table, namely: the Retirement Savings Modernization Act and the Financial Freedom Act of 2022.
FTX's initial Bankruptcy Court hearing in Delaware raises questions about how SBF's Alameda acquired an ownership stake in a U.S. bank without any regulatory pushback.
A number of commercial banks will participate in the project with RBI noting that each financial institution will test the CBDC with at least 10,000 to 50,000 of their customers, according to reports.
