(source: en.wikipedia.org)
The Financial Accounting Standards Board reportedly wants businesses to disclose their stablecoin holdings. As The Wall Street Journal (WSJ) reported, the nonprofit standard-setter for accounting voted Wednesday (April 23) to propose that all companies each year reveal the dollar amounts of the significant components of...
A global banking regulator is warning of risks stemming from cryptocurrency exchanges offering banking services. Services from “multifunction cryptoasset intermediaries” (MCIs) include things like lending and yield products, minus the protections that come with traditional financial institutions, according to the report issued Thursday (April 23) by the Bank...
Dozens of American cryptocurrency companies are reportedly calling on lawmakers to proceed on crypto legislation. In a letter to the leaders of the Senate Banking Committee, the companies argued that that action by government agencies cannot by itself provide stable rules for the digital asset sector,...
Crypto means a lot of things to merchants and payment service providers (PSPs). But for the first time, it might actually mean opportunity. With MoneyGram launching its stablecoin wallet in El Salvador Wednesday (April 22) as the start of a broader Latin American rollout, and...
Software has long been described as law in crypto. Now, the U.S. Treasury is calling the sector out on that core element of its identity. Under a new rulemaking and implementation proposal from the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets...
Two targeted fixes: convert passive voice constructions to active, and weave in more transition words. Here’s the revised version: Europe’s Markets in Crypto-Assets regulation (MiCA) was never designed to be subtle. Born as a sweeping attempt to impose order on a fast-moving, often opaque crypto...
Central bank officials are warning of potential threats from the increasing use of U.S. stablecoins for international payments. Stablecoins — crypto assets pegged to fiat currencies like the dollar — “raise serious risks for financial integrity and can facilitate regulatory circumvention,” the head of the Bank...
Hackers have reportedly stolen nearly $300 million from decentralized finance (DeFi) platform Kelp DAO. That’s according to a report Sunday (April 19) from Bloomberg News, which says the incident has triggered a ripple effect across cryptocurrency platforms. The total losses are estimated at around $293...
French Finance Minister Roland Lescure said Friday (April 17) that European banks should develop more euro-based stablecoins and tokenized deposits to reduce the continent’s reliance on non-European payment providers, Reuters reported Friday. In pre-recorded comments delivered at a cryptocurrency conference in Paris, Lescure said that...