The Financial Stability Board paper focused on what it refers to as global stablecoins, which are stablecoins that could be widely used as a means of payment or store of value across multiple jurisdictions.
The Virtual Asset User Protection Act focuses on investor protection and mandate that exchanges keep at least 80% of user deposits in a cold wallet.
The FSTB and the HKMA conducted the consultation in 2023, and they will release the results “soon” as stablecoin regulations in Hong Kong take shape.
U.S. District Court for the District of Columbia Judge Amy Berman Jackson issued a memorandum opinion on the 13 charges in the SEC's civil complaint against Binance.
Initially set for January 29, the SEC postponed Do Kwon’s trial by two months to allow him to attend, but extradition delays will see him miss the start of the trial on March 25.
Despite the many legal cases against Terraform Labs and its founder Do Kwon having the company in dire straits, the bankruptcy petition does not mean the immediate end of the company.
A U.S. federal judge has delayed the jury trial of former Terraform Labs CEO and founder Do Kwon, who was charged in February 2023 over the Terra UST and LUNA scandal that saw an estimated $60 billion being wiped out of the digital asset space.
The U.S. regulator is looking to get the upper hand in its case against Binance and Coinbase, using its recent victory against Terraform Labs as leverage to bolster its unregistered securities claims.
Besides ruling in favor of the U.S. securities regulator on claims Terraform and former CEO Do Kwon sold unregistered securities, Judge Rakoff also denied the defendants' motion for a summary judgment on fraud claims.
The U.S. was in the lead in its race with South Korea for Do Kwon’s extradition, but an appellate court has canceled the ruling, saying the process was irregular.
Montenegro's "top justice official" privately said he plans to send Do Kwon to the U.S., where he is facing charges related to the collapse of the Terra ecosystem, the Wall Street Journal reported.
Following the approval, it is now up to Montenegro’s Minister of Justice to decide which country gets the first crack at Do Kwon, who is currently detained in Montenegro.
