The Bank for International Settlements (BIS) has initiated an ambitious project, known as Project Mandala, aimed at innovating the landscape of cross-border transactions. In collaboration with central banks from Australia, Korea, Malaysia, and Singapore, the BIS seeks to address the prevalent regulatory hurdles that complicate international payments. An official statement released on October 28 outlines
Regulation
In a bold move aimed at the heart of America’s economic framework, Charles Cascarilla, the CEO of Paxos, has addressed both Vice President Kamala Harris and former President Donald Trump. His open letter serves as a clarion call for the recognition of digital assets and the imperative need for reform in financial regulations that have
In a significant development for the cryptocurrency exchange sector, Gemini has announced that it has gained in-principle approval from the Monetary Authority of Singapore (MAS) to provide services related to cross-border money transfers and digital payment tokens. This announcement, made on October 29, marks a pivotal moment for the platform, which is spearheaded by the
In a rapidly evolving digital landscape, the Satoshi Action Fund is spearheading a movement to secure state-level protections for Bitcoin self-custody, drawing parallels to the cannabis industry which has successfully navigated complex federal regulations. The initiative seeks to establish “safe haven” states where Bitcoin users can confidently engage with their digital assets, free from federal
In a significant step towards enhancing the oversight of digital asset transactions, South Korean authorities are gearing up to implement regulations aimed at cross-border crypto activities. Set to take effect in late 2025, these measures are designed to establish stringent registration and reporting requirements for businesses involved in digital asset facilitation. The Ministry of Finance
Recent reports alleging that Tether, a leading stablecoin issuer, is the subject of a federal investigation have been categorically dismissed by the company and its CEO, Paolo Ardoino. The stir was sparked by a Wall Street Journal article suggesting that prosecutors in Manhattan were probing the firm. In a robust rebuttal, Ardoino described the information
In a significant move for the cryptocurrency landscape, the Netherlands has initiated a public consultation process aimed at shaping new regulations governing crypto ownership and taxation. Announced on October 24, this initiative seeks to address the growing concerns surrounding tax evasion related to digital assets. By soliciting input from both the public and crypto service
The landscape of cryptocurrency taxation is undergoing significant changes in Denmark, reflecting a broader global trend towards increased regulation of digital assets. With the proposal to tax unrealized gains on cryptocurrencies at a staggering 42%, Denmark aims to align these digital assets with its established financial regulations. This shift underscores a growing recognition of cryptocurrencies
Over recent weeks, a significant shift has emerged in the global regulatory landscape regarding cryptocurrencies, particularly Bitcoin. High-profile researchers and economists are now advocating for strict measures against Bitcoin, prompting heated debates within the financial community. This article examines the implications of these recommendations, the reasoning behind them, and their potential impact on the broader
In an unprecedented move to combat the rising tide of cryptocurrency-related crimes, the United States and Nigeria have established a Bilateral Liaison Group, as announced on October 23. This collaboration marks a focused effort by both countries to not only strengthen their legal mechanisms against cybercrime but also to adapt to the evolving landscape of
