A report by the Financial Times has described UK proposals that would see stablecoins brought into the real economy as valid payment options for good and services. The proposals from the Bank of England (BoE) and Financial Conduct Authority include BoE taking responsibility for direct supervision of the entities behind the stablecoins. The proposals also […]
The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) released a consultation paper on 17 October, proposing to make it compulsory for banks to disclose their crypto exposure, reports Cointelegraph. The Basel Committee comprises central banks and financial authorities from 28 jurisdictions and is a forum for regulatory cooperation on banking […]
Crypto exchange Kraken has received authorisation from the Central Bank of Ireland (CBI) as an E-Money Institution (EMI). Having achieved virtual asset service provider authorisation from the CBI in April, Kraken has now also been authorised as a VASP in Spain. Kraken said in its blog, “The EMI license, granted to our subsidiary in Ireland, […]
Digital assets are legal property in China, according to a report published by the People’s Court of China, putting China among a cohort of jurisdictions that have explicitly recognised that property rights apply to digital assets in the same way they do any other, reports Coingeek. “Virtual currency is not classified as an illegal item. […]
Fintech Ireland has updated its Registered Virtual Asset Service Providers Map to version 2.0, with the inclusion of newly registered NoFrixion and Pionew Ireland. It reports that, on 12 April 2023, together with Susan O’Neill of SuLu Solutions and Peter Oakes of Fintech Ireland, issued the first Registered Virtual Asset Service Providers – Ireland Map. […]
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BlackRock, the world’s biggest asset manager, has filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny, reports Reuters. BlackRock’s iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the US Securities and […]
Ripple scored a partial victory in its fight with the US Securities and Exchange Commission in a court ruling that brought a modicum of regulatory clarity for the cryptocurrency industry, reports Coindesk. The sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts, the US District Court of the Southern […]
The European Union (EU) has reached a political agreement on changes to the Capital Requirements Regulation and Directive, including new regulations for crypto assets, reports Yahoo Finance. This move comes in response to lawmakers’ calls for stringent rules to prevent “unbacked cryptocurrencies” from infiltrating the traditional financial system. The announcement of this agreement was made […]