The United Kingdom’s Economic Affairs Committee has shared its views on the proposed plans by the country to launch a Central Bank Digital Currency (CBDC) or digital Pound. In a report published on Thursday, the committee said it has not seen a compelling case that should inform the launch of a Digital Pound. Back in … Continue reading Economic Affairs Committee Unsure UK Needs Retail CBDC
Major U.S. payment processor PayPal has established a blockchain, cryptocurrency, and digital currency advisory committee. In an official Tuesday announcement, PayPal said it warmly welcomes leading experts in distributed technology, economics, and regulation to join the committee with the aim of improving current and future products and creating a more inclusive digital financial ecosystem. At … Continue reading PayPal Establishes Advisory Committee, Focusing on Crypto Affairs
Crypto regulation on Brazilian soil gained steam after the senate’s economic affairs committee approved a bill, highlighting the ground rules and day-to-day usage of digital currency funds. The committee passage is crucial in the legislative process because the bill awaits a vote on the Senate floor. If it sees the light of day, the final … Continue reading Brazilian Senate Committee on Economic Affairs Approves Crypto Regulation Bill
Prime Trust, a Les Vegas-based technology-driven trust company that provides financial infrastructure for fintech and digital asset firms, announced Tuesday that it has appointed Jeremy Sheridan, the former Assistant Director of Investigations at the Secret Service of U.S., as the company’s Vice President of Regulatory Affairs. Sheridan joins an extensive team of Prime Trust government … Continue reading Prime Trust Hires Former Secret Service Veteran as VP of Regulatory Affairs
In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023. Tarbert’s appointment is a significant move for Circle, which has been actively pursuing a strategy of global growth. Tarbert steps into the shoes … Continue reading Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs
On July 17, 2023, Alex Grieve, a veteran in the intersection of politics and financial policy, announced his new role as the Government Affairs Lead at Paradigm, a leading investment firm in the crypto industry. Grieve has a wealth of experience from his decade-long career in Washington, DC, starting with his tenure under Speaker of … Continue reading Crypto Investment Firm Paradigm Welcomes New Government Affairs Lead Alex Grieve
In a letter addressed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has expressed her support for the implementation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures for stablecoins. Warren’s letter emphasizes the importance of adopting the full suite of AML tools requested by the Treasury Department in a November … Continue reading Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
India has been taking multiple stances when it comes to blockchain and cryptocurrencies, as cryptocurrency has not been deemed legal, but not considered illegal either. The National Payments Corporation of India (NPCI) recently designed and adopted a blockchain-based system for automating payment clearing and settlement processes. Earlier this year, the Bank for International Settlements (BIS) … Continue reading India Taking a Step Towards CBDC After the Debut of its Blockchain-Based Payment System Vajra?
The Indian Supreme Court has set a new date to hear the crypto case, which was originally scheduled for July 23. The purpose of the hearing was to address the writ petitions against the central bank’s crypto restriction. On July 24, the court announced a tentative date postponed to Aug 2, however, they later updated … Continue reading India’s Crypto Bill Hearing Postponed by Supreme Court
They used to say that Al Capone feared the Internal Revenue System (IRS) more than he feared the FBI. This fear proved to be well-founded, as tax affairs did precipitate Capone’s downfall. Capone’s troubles with the IRS illustrates this piece well, but with a 21st-century twist. We’re not talking about ill-gotten gains made through bootleg … Continue reading Crypto, Tax, and the IRS: The Good, The Bad, and The Downright Ugly