Bank of Canada pushes for firmer stablecoin regulation
The global stablecoin market capitalization currently stands at an impressive 161 billion, and the researchers from the Bank of Canada pointed out the potential pitfalls.
The global stablecoin market capitalization currently stands at an impressive 161 billion, and the researchers from the Bank of Canada pointed out the potential pitfalls.
The assets were obtained from Kernel Labs—a firm close to Terra—and according to court documents, Kernel Labs’ CEO Kim Hyun-Joong served as Vice President of Engineering at Terraform Labs.
U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing into the FTX collapse mocked Kevin O’Leary, who is lamenting the loss of the $15m tokens he received for being FTX’s spokesman.
It remains unclear why Kwon chose Serbia, but South Korean authorities are not ruling out the possibility that the embattled founder has a “special helper” in the country.
Bank of Korea stated that stablecoins pegged to foreign currencies have to comply with the foreign exchange laws of South Korea, while those pegged to the Korean won are automatically under their purview.
The blockchain industry is now working with a blank slate, and participants are aware that some of the most popular business models do not work.
Daniel Shin allegedly ignored warnings from the Financial Supervisory Service and continued telling investors that Terra's stablecoin would debut on e-commerce platforms.
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.
Prosecutors stormed Chai Corporation, the payments technology company founded by Daniel Shin, on the allegations that it misused its customers' personal information without their consent.
According to Nouriel Roubini, “there are seven C’s in crypto: concealed, corrupt, crooks, criminals, conmen, carnival barkers and, finally, CZ.”
Investigators say Daniel Shin breaches South Korean capital market law over allegedly holding a stash of LUNA without disclosing it to investors.
The prosecutors say that the evidence was gleaned from a “messenger conversation” between Do Kwon and an ex-employee of Terraform Labs.