crypto risks – DIGIT INFO

MetaMask co-founder: Memecoins reveal Web3 and AI consent flaws

DIGIT — Thu, 28 Nov 2024 14:30:56 +0000

MetaMask co-founder Dan Finlay’s memecoin experiment highlights Web3’s struggles with consent, trust and investor expectations.

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Former Chinese finance minister urges crypto study after US Bitcoin ETF shift

DIGIT — Sun, 29 Sep 2024 07:24:54 +0000

Lou Jiwei stresses that China must assess cryptocurrency developments, particularly as the US shifts policy on Bitcoin ETFs.

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US State Regulator Shares Key Crypto Investment Tips for Seniors

DIGIT — Sat, 22 Jun 2024 03:46:33 +0000

The Tennessee Department of Commerce & Insurance (TDCI) Division of Securities is raising awareness about the potential risks of investing in unregulated products like cryptocurrency, particularly among seniors. TDCI Commissioner Carter Lawrence emphasized the importance of protecting the financial independence of Tennessee’s elder population and encouraged seniors, their loved ones, or caregivers to contact the […]

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Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability

DIGIT — Thu, 23 May 2024 23:11:13 +0000

The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […]

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Central Bank of Sri Lanka Warns of ‘Significant Risks’ in Using and Investing in Crypto

DIGIT — Thu, 06 Apr 2023 01:30:46 +0000

Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka (CBSL) issued a […]

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US Regulators and Federal Reserve Issue Joint Warning About Crypto Liquidity Risks

DIGIT — Sat, 25 Feb 2023 02:00:59 +0000

U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto […]

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White House Publishes ‘Roadmap’ to Mitigate Cryptocurrency Risks

DIGIT — Sat, 28 Jan 2023 23:30:32 +0000

The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate […]

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BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt

DIGIT — Wed, 18 Jan 2023 02:30:09 +0000

Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,” they advised. BIS Economists […]

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US Regulators and the Fed Jointly Issue Crypto Warnings

DIGIT — Thu, 05 Jan 2023 02:30:03 +0000

The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector,” the […]

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US regulator to seek feedback on DeFi’s impact on financial crime

DIGIT — Thu, 08 Dec 2022 06:30:00 +0000

A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks.

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