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Financial

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07 Mar 23

China to push reforms with new financial watchdog

China will establish a new federal financial regulatory body to replace its current banking and insurance watchdog, following plans for developing a national data bureau unveiled recently. The legislature may vote on reforms soon According to the proposal for financial regulation made to the Chinese parliament at its annual session, the State Council would oversee […]

eNaira and the state of crypto in Nigeria amid a financial cr

24 Feb 23

Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster

Nigeria, Africa’s most populous nation and largest economy, is currently facing a financial crisis that has underscored the importance of cryptocurrencies for its population of over 219 million. Despite the government’s launch of a central bank digital currency (CBDC), the eNaira, citizens have shown little interest and have instead turned to mainstream crypto assets, despite […]

Australia cracks down on crypto scams, boosts regulatory team

23 Jan 23

Aussie minister welcomes treating crypto assets as financial services

Australia’s Financial Services Minister Stephen Jones says it’s okay for the government to regulate certain crypto assets as financial products to protect consumers from FTX-type collapses in the future. No need for separate crypto regulation The Australian government gets set to conduct a token mapping exercise later this year, to enable it to formulate a […]

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11 Jan 23

UK Lord demands crypto regulation as addition to financial bill

After a volatile year in the crypto space, members of the House of Lords advocated for more regulation of crypto assets. The move was in response to the Financial Services and Markets Bill (FSMB), which brings some aspects of cryptocurrency under financial regulation. Alan Smith, a member of the UK’s House of Lords and one […]

01 Jan 23

Former president of Russia says collapse of global financial system will accelerate crypto adoption

Dmitry Medvedev, the former President of Russia, believes that a worldwide financial collapse will result in widespread acceptance of cryptocurrencies. He predicts that both the US dollar and the euro will become less influential as reserve currencies. In a December 26 thread on Twitter, Dmitry Medvedev said the failure of the Bretton Woods monetary control […]

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27 Dec 22

Sam Bankman-Fried’s FTX tenure involved former and current US financial regulators

Sam Bankman-Fried reportedly collaborated with several former and current officials in top US agencies to oversee the fallen ramp’s operations. Seemingly, his ultimate goal was to introduce concise regulations for the crypto industry. Sam Bankman-Fried deals with current and former regulators According to some sources and leaked emails, former FTX CEO Sam Bankman-Fried directly worked […]

1671598162 Residents of New York City cant trade their namesake cryptocurrency

21 Dec 22

New York financial regulator sets crypto guidelines for banks

The New York State Department of Financial Services (NYDFS) has laid out details state-regulated financial institutions must submit before gaining approval to engage in cryptocurrency-related operations. Banks must submit business plans before engaging in crypto In a statement issued Thursday, the NYDFS announced that banking institutions domiciled in the state must submit a business plan […]

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20 Dec 22

Incoming House Financial Services Committee chair reintroduces crypto bill

North Carolina’s Representative Patrick McHenry, an incoming chair of the House Financial Services Committee, has reintroduced a crypto bill. The reinstatement of the Financial Services Innovation Act McHenry, who had pushed the Financial Services Innovation Act in 2016 and 2019, announced on Dec. 19 that the act will be reintroduced. The legislation aims to modernize […]

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