The Financial Stability Board has warned that stablecoin regulation is becoming too fragmented as countries take divergent approaches, which is creating “underlaps” of oversight.
11 October 2021
Two global bodies have set out standards for stablecoins, proposing to regulate them like other financial market infrastructure such as payment systems and clearing houses.
06 October 2021
The People’s Bank of China has banned cryptocurrency mining and transactions nationwide, in its third move to stamp out the virtual currencies this year.
27 September 2021
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
US fintech Circle is attempting to obtain a US federal bank charter, citing frustrations at third party chains slowing its operations.
11 August 2021
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 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
Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank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
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
The United States’ former acting Comptroller of the Currency has joined the board of a blockchain credit startup, as the identity of his successor remains unknown.
17 March 2021
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