Bank of Korea seeks tech partner to build central bank digital currency
South Korea’s state digital currency pilot is scheduled to run from August to December 2021. Go to Source Powered by WPeMatico
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Fed will issue discussion paper on benefits and risks of CBDC, says Jerome Powell
“Irrespective of the conclusion we ultimately reach, we expect to play a leading role in developing international standards for CBDCs,” said the Fed chair. Go to Source Powered by WPeMatico
US Treasury proposes crypto transactions over $10K be reported to IRS
Saying crypto posed “a significant detection problem by facilitating illegal activity,” the government body specifically mentioned crypto businesses were in its crosshairs. Go to Source Powered by WPeMatico
US Fed, OCC and FDIC to set up interagency team for crypto regulations
American financial regulators are considering establishing an “interagency policy sprint team” to address fragmented cryptocurrency regulations. Go to Source Powered by WPeMatico
New bill would require candidates in Russian elections to declare crypto
The bill must still go through two readings in the Duma before going to the Federation Council. Go to Source Powered by WPeMatico
US lawmaker introduces bill aimed at protecting ‘forked assets’ from IRS
This is the third time Rep. Emmer has introduced the bill to the House of Representatives, but the first with a Democrat in the presidency. Go to Source Powered by WPeMatico
Iranian crypto miners using household energy to face large fines
Iran is fighting against unauthorized crypto mining amid ongoing energy supply shortages. Go to Source Powered by WPeMatico
Bridgewater Associates’ Ray Dalio Warns Crypto’s Success Could Bring Tough Regulation
Bridgewater Associates founder Ray Dalio has warned that cryptocurrency’s biggest risk is its own success. He explained that it could attract regulators to come down tough on the crypto industry because “as a storehold of wealth no government wants to have an alternative currency.” Crypto’s Success May Attract Tough Regulation Ray Dalio, the founder of … Read more
Blockchain will thrive once innovators and regulators work together
Emerging technology such as blockchain can change the world for the better, but regulation and innovation must work in tandem. Go to Source Powered by WPeMatico
UK will likely need to issue a digital currency, says BoE deputy governor
The Bank of England’s deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a crucial anchor for confidence in money as a social convention. Go to Source Powered by WPeMatico