Entering the crypto economy is not a good idea for a country with “capacity constraints” and no central bank, the IMF thinks.
BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’
A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.
Parliamentary report recommends Canada recognize, strategize about blockchain industry
“Canada punches above its weight” in blockchain innovation, parliamentarians conclude, but lots more should be done to encourage the industry.
Gaming gear maker Razer hacked, user data, encryption keys for sale online: Report
The Singapore-U.S. gaming company has responded to reports of 404,000 emails, keys, logins and other info for sale; it hasn’t finished dealing with a 2020 leak yet.
Gaining speed on tokenization is vital for UK’s financial future, banking group warns
UK Finance says it’s not too late for the United Kingdom to make up for other jurisdictions’ faster start to securities tokenization, and the country better do it if it wants to remain a global financial leader.
NY Fed, banks wrap up regulated liabilities network proof-of-concept using wCBDC
The theoretical network would help the dollar maintain its status internationally with “game-changing” improvements in service.
IMF eyes tens of billions in crypto asset taxes, has few suggestions for collecting them
Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it.
U.S. House committee chairs, Blockchain Association turn up heat on SEC head Gensler
Three House chairs sent a letter regarding recordkeeping and FOIA, and the industry advocacy group suggested Wells notice recipients ask for his recusal from their cases.
Fidelity renews push for spot Wise Origin BTC Trust, making it 7th applicant this year
The huge asset manager was denied approval for the Wise Origin Trust last year; now, it is joining a long line of spot fund hopefuls.
LayerZero’s market shifting, there’s a better environment ahead for everyone, CEO says
LayerZero CEO Bryan Pellegrino is optimistic about the future of the blockchain industry and the “really important plumbing” LayerZero provides for it.
RBI lists risks of stablecoin for developing economies, calls for global regulation
The Reserve Bank of India listed six specific ways stablecoin can undermine emerging markets, adding to its mounting case against crypto.
BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report
Project Mariana uses an automated market maker to reduce settlement risk and to create a liquidity pool in place of order books.
Israeli authorities seize crypto from terror organizations, credit new technology
The Israeli ministries of defense and justice and a number of intelligence and enforcement agencies collaborated; Chainalysis also pitched in.
New exchange EDX reportedly switching out Paxos’ custody services for Anchorage’s
The new exchange does not custody customer funds itself to avoid conflict of interest – and a hot-button issue with the SEC.
Yield Protocol declares full recovery from Euler hack, awaits user token exchange
The permissionless, collateralized fixed-rate borrowing and lending market restored operations in May and will now switch out user tokens worth $1.5 million.
Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report
Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though.
FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations
Tracing funds is highly challenging, according to the FTX Debtors’ second interim report, and there is no doubt that that was by design.
Singapore central bank reports on tokenized asset network models after trials
Three trial use cases have been completed as part of the project, and the report uses them as a “framework for consideration” of financial market infrastructure.
FTX seeks to claw $700M from Bankman Fried friends and affiliated funds
After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges.
Issuing digital euro, or ‘Cash+,’ is probably a duty, French central banker says
François Villeroy de Galhau tried to soft sell the proposed euro CBDC to commercial bankers, emphasizing collaboration and the CBDC’s advantages.