As the various stakeholders within the European Union continue to research the potential of a single central bank digital currency (CBDC), the representatives of both private and public banking institutions share their opinion on the digital euro. In a fresh issue of the bi-annual Views Magazine, published in April, the topic of the digital euro
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve the projected $2,500 target,
Bitcoin (BTC) traders may be gearing up for a sell-off as data shows tens of thousands of coins moving to exchanges. The latest figures from on-chain monitoring resource Coinglass confirm that global trading volume leader Binance’s BTC balance rose by over 50,000 BTC ($1.5 billion) in the past 30 days. Binance takes lion’s share of
The Hong Kong Monetary Authority (HKMA), the city’s central banking institution and regulator, has called on banks to provide their services to cryptocurrency firms. On April 27, HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred to as AI, to
Cybercriminals have reportedly breached AT&T email accounts and are using the access gained to steal crypto assets from their victims. While a spokesperson for AT&T has denied claims that hackers have gained access to the company’s internal systems, a report suggests that as much as $20 million worth of crypto may have been stolen. Criminals
Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped, and that the future of traditional international institutions like the International Monetary
The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks.” An April 27 press release from the Department of Justice (DOJ) said Cooper Morgenthau, the ex-CFO of African Gold Acquisition Corp. (AGAC), embezzled more than
The tax treatment of lending and borrowing on decentralized finance (DeFi) protocols could soon be changed in the United Kingdom as the taxation arm of the Treasury is seeking input on a possible new regime. An April 27 consultation by HM Revenue and Customs will run until June 22 and asks for “investors, professionals and
Micheal Saylor, the founder of Microstrategy, has told people living in inflation-stricken Argentina that they now “need bitcoin.” While many bitcoiners have welcomed Saylor’s suggestion, a few critics have said the top crypto asset’s volatility makes it an unsuitable alternative for the faltering local currency. The Dollarization Option As the Argentinian currency — the peso
A record-breaking $3.4 billion penalty has been handed down by a Judge in a lawsuit brought by a United States financial regulator involving a fraudulent scheme involving Bitcoin (BTC). An April 27 statement from the Commodity Futures Trading Commission (CFTC) said Texas District Court Judge Lee Yeakel ordered Cornelius Johannes Steynberg to pay the sum
Donald Trump has warned that the U.S. dollar is crashing and soon will “no longer be the world standard.” The former president of the United States further warned that “we are very close” to a third world war happening. “Joe Biden has led us to the very brink of World War III,” he stressed. Trump
The home of former FTX co-CEO Ryan Salame has reportedly been searched by the Federal Bureau of Investigation (FBI) as further scrutiny falls on the executive for his close advisory role to Sam Bankman-Fried. An April 27 report from The New York Times, citing people with knowledge of the matter, said the Bureau searched Salame’s
Another swipe has been taken at the crypto industry by the chair of the United States securities regulator, who claimed many crypto platforms are operating in violation of securities laws. In an April 27 tweet, Securities and Exchange Commission (SEC) chair Gary Gensler shared a 4-minute video of himself describing crypto assets as “investment contracts”
Rich Dad Poor Dad author Robert Kiyosaki has warned of economic chaos, a war breaking out, hyperinflation, and rising starvation. Commenting on de-dollarization on a “massive scale,” he stressed: “It’s a weaponization of our U.S. dollar against the world … It’s all coming down fast right now.” Robert Kiyosaki on De-Dollarization on ‘Massive Scale’ The
Executives of cryptocurrency exchange Coinbase took their company’s regulatory issues to the public on April 27, with chief legal officer Paul Grewal speaking at Consensus 2023 and appearing with CEO Brian Armstrong in a video released on YouTube. The appeal was in response to a Wells notice received by the firm, a notification by the
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong inching close on a clear crypto regulatory pathway A few months after prominent industry players lamented the lack of registration pathways for cryptocurrency exchanges in Hong Kong, some respite may finally be on the horizon. On Apr. 27, Julia
On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body’s enforcement actions were in direct contrast to the agency’s previous approval of
The launch of ‘Robinhood Connect,’ a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets, was announced at Consensus 2023 on April 27. Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO — Robinhood (@RobinhoodApp) April 27, 2023
The United States House of Representatives was abuzz with talk about crypto on April 27, as both the Financial Services Committee and the Agriculture Committee held hearings with nearly identical titles and covered nearly the same ground with many similar conclusions. The Financial Services Committee, in its hearing “The Future of Digital Assets: Identifying the
The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese yuan rose to be the most-used currency in March over the U.S. dollar, in a push from the Beijing government to internationalize its currency for payments. Chinese Yuan Used to