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After months of deliberation, the European Central Bank has decided to proceed with a digital euro project. Officials insist the new version of Europe’s common currency should “ensure privacy” and provide access to “the safest form of money” at a “negligible” cost to the environment, in comparison with bitcoin. Eurosystem Initiates Digital Euro Project The … Read more
Binance.us has hired Manuel Alvarez, a former financial regulator from California, to work as its chief administrative officer. The San Francisco-based crypto exchange, which sources technology from Binance, is aiming to deal with “the big question” — compliance. Binance.us Filling Roles in Compliance, Risk Management, and Legal Binance.us, powered by matching engine and wallet technologies … Read more
Pham Minh Chinh, the prime minister of Vietnam, has asked the country’s central bank to conduct a study of cryptocurrency and pilot the implementation of a blockchain-based currency within the next two years. The efforts are part of the Asian country’s new e-government strategy. Cryptocurrency Highlighted in Prime Minister’s Decision Cryptocurrency is one of the … Read more
The Central Bank of Russia (CBR) has set out to examine the risks associated with cryptocurrency investments. The regulator is going to conduct a dedicated study with the participation of major banks and payment processors operating in the Russian market. CBR Adds Crypto to Its Survey Program for 2021 Russia’s central bank, known as Bank … Read more
Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration scheme after facing a growing number of crypto firms that are withdrawing their applications. FCA Extends Temporary Registrations Regime Till End of March 2022 The Financial Conduct Authority (FCA) announced … Read more
U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money. BNY Mellon … Read more
The Ontario Securities Commission (OSC) published documentation on Tuesday that claims the Seychelles-based crypto exchange, Poloniex has failed to contact the OSC in order to start compliance discussions. Poloniex meets the OSC’s jurisdiction because the trading platform operates trading accounts for Ontario residents, the OSC’s breach and conduct report notes. OSC Says Poloniex Failed to … Read more
The cryptocurrency industry in the Netherlands has won a small but significant battle. The country’s central bank has canceled some excessive verification procedures that it imposed on crypto service providers last fall. The move comes after a local exchange took the matter to court. DNB Takes a Step Back on Unlawful KYC Requirements De Nederlandsche … Read more
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk to the country’s financial system. South Korean Central Bank to Intensify Screening of Crypto-Related … Read more
As the South Korean government keeps strengthening the harsh rhetoric against cryptocurrencies, citizens have become increasingly angry due to the recent words from regulatory authorities. Over the weekend, petitions started to appear on the web, seeking the removal of the head of the country’s Financial Services Commission (FSC). Over 141,000 Signatures Collected in One Petition … Read more
