DOJ Upholds SBF Accusations Despite Insufficient US Crypto Laws
Counsel for Sam Bankman-Fried argued that FTX was not located in the United States, and since SBF complied with regulatory obligations regarding FTX US, charges related to FTX international should not apply. The United States Department of Justice (DOJ) filed a court motion on October 4, arguing that the absence of crypto regulations in the […]
AirBit Ponzi Scheme: All Execs Sentenced Except One
The US District Court for the Southern District of New York has sentenced key individuals behind the AirBit Club cryptocurrency Ponzi scheme, except co-founder Dos Santos, whose sentence is scheduled for Oct. 4, 2023. On October 3, the office of the United States Attorney for the Southern District of New York announced the sentencing of […]
Bank of Korea to Launch Infrastructure Pilot for CBDC
Private banks and public institutions will participate in the pilot, and the Bank for International Settlements (BIS) will provide technical support. South Korea researches central bank digital currencies (CBDCs) alongside an increasing number of countries. The Bank of Korea (BOK) will initiate a pilot initiative to investigate the technical infrastructure for a digital currency. The […]
Blockchain Finance to Reach $79.3B by 2032
The COVID-19 pandemic disrupted traditional finance, and the prospect of lower operational costs paved the way for mainstreaming the digital ecosystem. The global blockchain finance market, which includes public and private blockchains, trading, payments, settlements, and asset management, has the potential to reach $79.3 billion by 2032. According to a report by Allied Market Research […]
Bank Exec Says CBDC is Foundation for Global Monetary System
The First Deputy Governor at Banque de France supports Central Bank digital currency (CBDC), promoting it as a foundation of the new international monetary system. In a 3 October speech, Denis Beau, First Deputy Governor of the Banque de France, referred to the CBDC as the “catalyst for enhancing cross-border payments by facilitating the development […]