Topic: Blockchain

Big Tech sceptic tapped for Comptroller

After months of deliberation, US President Joe Biden has nominated a Comptroller of the Currency in former Davis Polk & Wardwell attorney Saule Omarova, who would be the first woman and person of colour to permanently fill the role.

24 September 2021

South Korea to establish independent crypto supervisor

South Korea is set to form a cryptocurrency supervising body, as Brazil’s central bank announces plans for a national cryptocurrency framework.

31 August 2021

Circle sets sights on federal charter

US fintech Circle is attempting to obtain a US federal bank charter, citing frustrations at third party chains slowing its operations.

11 August 2021

Basel urges strict “cliff edge” two-tier cryptoasset regulation

Banks with cryptoasset exposure will be heavily regulated – and have to maintain the full value of crypto held – under new proposals from the Basel Committee, which predict increasing risk to banks from the volatile assets.

14 June 2021

Stablecoins must be regulated like banks, Bank of England says

Stablecoins must be heavily regulated – including potentially authorised as banks – the Bank of England has recommended, as it continues to explore potential for central bank digital currencies.

09 June 2021

FCA extends crypto registration deadline amid money laundering concerns

The UK’s Financial Conduct Authority has extended the temporary registration deadline for cryptoasset businesses, after the majority of applicants failed to meet anti-money laundering standards.

04 June 2021

Brazil to develop digital currency plans

Brazil’s central bank has released guidelines for a digital real, promising further change to the country’s payments landscape after its approval of WhatsApp Pay and the introduction of a local digitised payments system.

26 May 2021

Hong Kong to drop local incorporation requirement for VASP licensees

Following industry pushback, Hong Kong’s government has proposed a compromise on plans to require a “local anchorage” for virtual asset service providers seeking a licence in the territory, as part of an update to its anti-money laundering framework.

24 May 2021

Facebook’s Diem makes a leap for the US

Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank Silvergate.

14 May 2021

Covington advising as OCC approves Paxos charter

Blockchain platform Paxos is set to be the first crypto firm to hold both national and state bank charters in the US, after the Office of the Comptroller of the Currency granted its charter application preliminary conditional approval in the face of industry backlash.

27 April 2021

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