Law Decoded: How I learned to stop worrying and love the election, Oct. 23-30
The age-old question quis custodiet ipsos custodes crops up in force in today’s Law Decoded. Go to Source Powered by WPeMatico
Federal Reserve
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Central bank digital currencies have the power to upend global finance
Central bank digital currencies will fundamentally change our conceptions of money and its uses. Go to Source Powered by WPeMatico
US Government Agencies Propose Changes to Funds Transfer Rules-Seek to Broaden Definition of Money to Include Cryptocurrencies
The U.S. Federal Reserve Board and Fincen are seeking feedback on their proposal to lower the threshold at which financial institutions must collect and retain information on funds transfers. In their joint notice on the rule change proposal, the two U.S. agencies want a new threshold for international transactions to be set at $250 down … Read more
US AML watchdog wants info on all international crypto transactions over $250
The proposed change would cut down FinCEN’s longstanding $3,000 threshold. Go to Source Powered by WPeMatico
Russia doesn’t need to be first with a digital currency, says state expert
Russia is purportedly taking a fast-second strategy for the digital ruble. Go to Source Powered by WPeMatico
Bitcoin Proponents Bemoan Joe Biden’s Proposed Capital Gains Hike
The U.S. presidential election is only 14 days away, and a number of bitcoin proponents have been discussing the capital gains tax implications Joe Biden plans to invoke if he wins the American presidency. According to Biden’s plan, capital gains will be raised from 21% to 39.6% for certain income brackets. Two weeks ago, the … Read more
Pomp says US digital dollar needs to happen now
The U.S. doesn’t mind coming a bit late to the CBDC party, but is that the wrong approach? Go to Source Powered by WPeMatico
New Zealand has no imminent plans to issue CBDC, says central bank exec
Important questions about CBDCs remain unanswered for the Kiwi’s central bank. Go to Source Powered by WPeMatico
Better to get it right than to be first with CBDC, says US Fed chair
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued. Go to Source Powered by WPeMatico
Central banks detail CBDC expectations in massive joint document
The report is a major step towards pushing central bank digital currencies forward. Go to Source Powered by WPeMatico
