BIS Criticizes Stablecoins, Urges Tight Restrictions on Their Use as Money
The Bank for International Settlements (BIS) has issued a strong warning about stablecoins, asserting that they are not suitable substitutes for traditional forms of money. In a newly released report, the central banking institution argued that stablecoins, despite being pegged to national currencies, fail to deliver the fundamental qualities of sound money and should face […]
Ripple CTO Criticizes Government’s Indirect Regulation
In a recent Joe Rogan interview, Mark Andreesen stated that the debanking of tech firms pushed Silicon Valley to lean toward Trump. David Schwartz, Chief Technology Officer of Ripple, has joined the growing list of tech leaders speaking out against Operation Chokepoint 2.0—a government-led initiative targeting the crypto industry through debanking practices. Schwartz criticized the operation, […]
Central Banks Prioritize Legacy Payment Systems Over CBDCs
TradFi appears to be safe on the international payments market for the foreseeable future, despite advances in blockchain solutions. In its annual Future of Payments survey, the Official Monetary and Financial Institutions Forum (OMFIF) has revealed a notable decline in enthusiasm among central bankers for central bank digital currencies (CBDCs) despite increasing research efforts in […]
Judge Refutes Appeal from Promoter in $18M Crypto Fraud Case
Kristoffer Krohn unsuccessfully asserted in his appeal that the SEC’s lawsuit did not state that the Green Boxes were securities offerings or investment contracts. A federal judge in Utah has rejected an appeal to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against a promoter of an alleged $18 million fraudulent […]
Report: Trump Considers CFTC Oversight for Crypto
Donald Trump’s administration is considering handing regulation of crypto exchanges and spot markets for cryptocurrencies considered commodities to the CFTC. Donald Trump’s incoming administration is reportedly considering granting the Commodity Futures Trading Commission (CFTC) authority over the crypto industry, a move that could significantly reduce the regulatory power of the Securities and Exchange Commission (SEC). […]