Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency
Tether is still under regulatory pressure with eyes now cast towards its commercial paper reserves. Go to Source Powered by WPeMatico
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IMF Warns Against Adopting Crypto Assets Like Bitcoin as Legal Tender
The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday … Read more
Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks
U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that … Read more
Binance will ‘work with regulators’ as it expands, says CEO
“We want to be licensed everywhere,” said Changpeng Zhao. Go to Source Powered by WPeMatico
Banks in Kazakhstan to Open Accounts for Registered Crypto Exchanges
Companies providing trading services for digital assets will be able to open accounts with banks in Kazakhstan, local media reported, quoting the country’s crypto industry association. The service should allow Kazakhs to legally invest in cryptocurrencies and cash out their profits. Crypto Exchanges in Kazakhstan to Be Offered Banking Services Kazakh banks will be permitted … Read more
Brazilian Authorities Seize $33 Million in Money Laundering Investigation Linked to Cryptocurrency Exchanges
The Brazilian authorities seized $33 million linked to a money-laundering investigation involving cryptocurrency exchanges. The operation, called “Exchange Transaction” by the Brazilian police, involved six search warrants in different locations of the country. These searches were directed to find shell companies that used cryptocurrency exchanges for alleged money laundering purposes. Brazilian Police Seize $33 Million … Read more
Africrypt Bitcoin Heist: Contradicting Reports About the Directors Whereabouts Surface
In a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In … Read more
IMF issues veiled warning against El Salvador’s Bitcoin law
Making any cryptocurrency a national currency “is an inadvisable shortcut” to more inclusive financial services, according to two IMF officials. Go to Source Powered by WPeMatico
US Senator Launches Investigation Into ‘How Cryptocurrencies Facilitate Cybercrimes’
A U.S. senator has launched an investigation into the rise of ransomware attacks as well as how cryptocurrencies facilitate cybercrimes. “The investigation will also look into current oversight efforts and regulations related to virtual currencies,” the senator explained. Investigation Into Crypto’s Use in Cybercrimes U.S. Senator Gary Peters announced last week a bipartisan “investigation into … Read more
Namibia Central Bank to Complete Crypto Study By April 2022 — Governor Says Current Laws Do not Permit Use of Digital Assets
The Bank of Namibia (BON) is on course to complete its study into cryptocurrencies by April 2022, the central bank governor, Johannes Gawaxab recently confirmed. The governor however reiterated that cryptocurrencies are not legal tender as there is currently no provision for digital currency use in the country’s laws. Although Gawaxab did acknowledge that cryptocurrencies … Read more