The Project Icebreaker initiative aimed to improve cross-border payments by reducing costs and increasing speed and transparency, with a final report expected in Q1 2023.
Fed’s Powell: DeFi needs appropriate regulation before expanding to retail
Jerome Powell acknowledged that DeFi will start to reach more retail customers, highlighting the need for regulation.
‘Time is not on our side’ to provide regulatory clarity on crypto, says US lawmaker
“We’ve got to move, pick a regulator, and give the market the certainty and guardrails it deserves,” said House Representative Josh Gottheimer.
FCA green lights Revolut, making no UK crypto firms operating under temporary status
Revolut had been the last “holdout” out of the 12 companies originally granted FCA temporary registration to continue offering crypto services in March.
Terra co-founder Do Kwon says he’s ‘making zero effort to hide’ following Interpol notice
Do Kwon told his more than one million Twitter followers that he had not seen his name on Interpol’s Red Notice list, but not all names are made available to the public.
Pro-centralization Russian president grants citizenship to Edward Snowden: Report
The views of the NSA whistleblower, who has been in Russia since 2013, seemingly clash with those of President Vladimir Putin, who has often worked against promoting decentralization.
Kraken’s incoming CEO: No plans to register with SEC
Dave Ripley says he doesn’t see a reason to register with the SEC as an exchange because Kraken does not offer securities to users.
MiCA is already stifling stablecoin adoption in the EU
The Markets in Crypto-Assets framework stands to get in the way of Circle’s Euro Coin and other digital assets. Policymakers should revise the proposal.
Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision
A bill based on the proposed framework banning crypto investments could help to “restore the public’s faith and trust in their public officials,” according to Zoe Lofgren.
Lawyers for Celsius investors file motion to have interests represented in court
The legal team requested the court appoint a committee representing certain shareholders or the case could end up “inappropriately and inequitably skewed in favor of the customers.”
UK gov’t introduces bill aimed at empowering authorities’ to ‘seize, freeze and recover’ crypto
King Charles announced the bill in May to both houses of the U.K. Parliament, saying it was aimed at tackling illicit finance, reducing economic crime and helping businesses grow.
Russian officials approve use of crypto for cross-border payments: Report
Deputy Finance Minister Alexei Moiseev said the policy describes “how to acquire cryptocurrency, what can be done with it” and its use in cross-border settlements.
Majority of crypto exchange leadership should be comprised of citizens, say Indonesian regulators
Officials with Indonesia’s Commodity Futures Trading Regulatory Agency could implement a rule for two-thirds of directors and commissioners at crypto firms to be citizens.
Tornado Cash is the latest chapter in the war against encryption
Government disdain for end-to-end encryption is nothing new. The effort to kill Tornado Cash is just the latest chapter in this age-old war.
US Treasury official says crypto mixers are a ‘concern’ in enforcing sanctions
Assistant secretary at the Treasury Department Elizabeth Rosenberg said sanctioning crypto mixers could help deter money laundering from entities in Russia, Iran, and North Korea.
CFTC commissioner visits Ripple offices as decision in SEC case looms
The outcome of the SEC v. Ripple lawsuit could influence whether the CFTC or SEC will play a greater role in handling the XRP token as a commodity or security.
US Treasury plans to ask public if crypto-related regulations are ‘no longer fit for purpose’
The public has until Nov. 3 to submit comments on the Treasury addressing ransomware attacks, the illicit finance risks of cryptocurrency mixers and DeFi, and coordinating AML/CFT policy.
South Korean authorities ask Interpol to issue ‘Red Notice’ for Do Kwon: Report
According to Interpol, there are currently 7,151 individuals publicly named on the agency’s Red Notice list out of 69,270.
Blockchain Association calls White House’s crypto framework a ‘missed opportunity’
Critics claimed the Biden administration’s reports focused on environmental concerns over crypto’s energy consumption and illicit uses rather than the technology’s benefits.
US Treasury sanctions 5 crypto addresses connected to Russian neo-Nazi paramilitary group
According to the Treasury Department, members of the sanctioned group fought alongside Russia’s military, including near territory Ukrainian forces reclaimed on Monday.