Bahamas to force banks to support its CBDC
Since its launch in 2020, the Sand Dollar CBDC has failed to garner the expected uptake in the Bahamas, forcing the central bank to mandate banks to support it.
Latest Bahamas News
Bahamas’ Sand Dollar attracted 0.5% of cash in circulation 3 years on: official
Bahamians have been willing to explore the CBDC, with 120,000 of the island’s 400,000 opening accounts, but they have only transacted $2.1 million in over three years.
The mixed blessing of CBDCs
As more countries jump on the CBDC bandwagon, experts are now scrutinizing the benefits and pitfalls of this tech and whether it could promote financial inclusion or a ploy to control the market.
Bahamas proposes stricter digital asset regulations
The Securities Commission of The Bahamas began the development of the DARE Act in 2018, and it was passed in the House of Parliament in December 2020.
Caroline Ellison and Gary Wang charged as Sam Bankman-Fried heads back to the US
As per U.S. securities regulator, Caroline Ellison had misappropriated customer funds from FTX to use in Alameda's trading activity, while Wang had created the software that allowed this to happen.
Sam Bankman-Fried changes his mind about extradition, will return to the US
SBF's options for a comfortable life and freedom appear to be dwindling as he faces spending a lifetime in jail without parole should a U.S. court convict him on the eight charges he's facing.
3 US agencies throw the fraud book at FTX’s Bankman-Fried
If convicted of eight counts of charges filed by the DOJ, Sam Bankman-Fried could see himself landing 115 years in prison.
FTX’s Sam Bankman-Fried arrest spells doom for Tether and Binance
Following his arrest in the Bahamas, SBF will have to face charges brought against him, with former FTX CEO John Ray III set to testify in court over the exchange's collapse.
Bankman-Toast? FTX CEO arrested in Bahamas, faces US extradition
Sam Bankman-Fried has been arrested by authorities in the Bahamas and is now awaiting extradition to the US to face several charges tied to the FTX's collapse.
Defiant Sam Bankman-Fried fueling jurisdictional fight over FTX assets
Another day, another flood of damning developments in the ongoing FTX debacle, with fears of contagion showing no sign of abating.
FTX Bankruptcy: Hacked, regulated or rug-pulled as traders despair
Observers noticed on-chain records showing "hundreds of millions of dollars" worth of digital assets began leaving the FTX exchange’s wallets late on Friday night.
FTX.US, BlockFi halt withdrawals as ‘crypto’ fear goes viral
The FTX exchange may have filed for bankruptcy protection but there’s no real defense against the sector-wide carnage this scandal has unleashed.