Twitter Awarded 3 State Money Transmitter Licenses
Twitter recently secured money transmitter licenses in Michigan, Missouri, and New Hampshire. The authorized licenses, which were issued between June 29 and July 3, 2023, show how committed Twitter is to adhering to these jurisdictions’ legal standards. The social media site wants to grow its offering of payment services. While the licenses in New Hampshire […]
Circle Eyes Issuing Stablecoin Under New Japanese Law
Circle, the US-based financial services company and issuer of the popular stablecoin USDC, is exploring the possibility of issuing a stablecoin in Japan. In an interview, Jeremy Allaire, co-founder, and CEO of Circle, stated that he thought Japan might become a key market for stablecoins, especially if they become widely accepted in cross-border trading. Following […]
South Africa to require crypto licenses for exchanges by 2023 end
South Africa plans to take enforcement action against crypto exchanges operating without a license by the end of 2023. According to Financial Sector Conduct Authority (FSCA) commissioner Unathi Kamlana, the organization has received about 20 license applications since its recent launch and anticipates receiving more before the deadline of November 30, according to Bloomberg. According […]
India Fosters Global Cross-Border Payments for Digital Rupee
The Reserve Bank of India (RBI) is on course to expand the frontiers of its Central Bank Digital Currency (CBDC), the “digital rupee”. The Reserve Bank of India (RBI) is presently in talks with counterparts from at least 18 other nations on the potential for cross-border payments using its Central Bank Digital Currency (CBDC), the […]
South Korea Launches the Next Stage of Virtual Asset Regulation Research
South Korea is establishing plans to regulate virtual assets with the launch of the second phase of the Legislation Research. South Korean financial officials are allegedly getting ready to launch a research project for the second phase of the nation’s virtual asset legislation in an effort to improve rules further and protect users in the […]