French central banker says the G7 plans to discuss crypto regulations

The Group of Seven (G7) will likely discuss crypto regulation in a finance meeting this week in Germany. Francois Villeroy de Galhau, the Head of the French Central Bank, added that what happened in the past shows an urgent need for global regulation. He said this during an emerging markets conference in Paris. According to…

South Korean lawmaker suggests summoning Do Kwon to the national assembly

Yun Chang-hyeon, a lawmaker in South Korea’s ruling party, People’s Power, has suggested summoning Terraform Labs’ founder Do Kwon to a parliamentary hearing. A report unveiled this news today, noting that the legislators plan to summon Kwon over the collapse of the firm’s stablecoin and crypto projects. The company’s TerraUSD (UST) and Terra (LUNA) projects…

Top German regulator executive wants DeFi regulated

Birgit Rodolphe, a senior executive at German financial services regulator BaFIN, has called for the regulation of decentralized finance. She cited the risks of fraud and hacks as enough reason to regulate the sector. According to Rodolphe, DeFi might seem like a magic word, but it’s not that simple.  “The scene is rich in technical…

UK Treasury reaffirms commitment to regulate stablecoins following TerraLUNA fiasco

UK’s exchequer has just affirmed its vow to regulate stablecoins to create a healthy environment for stablecoin issuers and service providers, given the recent TerraUSD (UST) and Terra (LUNA) market crash. While panic and uncertainty still loom over the digital asset industry, some government agencies have been quick to show their support for cryptocurrencies. The…

EU regulators criticize stablecoins to promote Euro CBDC

EU regulators are using the recent Terra Luna situation to push forward with a Digital Euro CBDC. Many will see the volatility created by the attack on the algorithmically backed stablecoin, UST, as a reason to increase the regulation of stablecoins. With $16 billion worth of UST evaporating within days, it is hard to argue…

Op-Ed: Crypto is under attack

The markets are rocked. Many of you will check your portfolios and ask why you have lost over 50% of your net worth? The answer is, for once, not FUD coming out of China, Europe, or the SEC. The fear, uncertainty, and doubt among retail and institutional investors have been triggered by a direct attack…

This is why the IMF hates Bitcoin

Last week, the crypto community was taken aback as the Central Bank of Argentina moved to prohibit retail banks from providing Bitcoin and cryptocurrency services. In the release, the CBoA said risks are associated with using digital assets, including volatility, the threat of cyber attacks, money laundering, and terrorist financing. To read the rest of this…

Pro-crypto SEC commissioner foresees faster stablecoin regulations after Terra crash

Pro-crypto commissioner of the Securities and Exchange Commission (SEC) Hester Peirce, popularly known as crypto mom, said there might be some developments towards stablecoin regulation soon, according to a Reuters report. Pierce commented on the development at an online debate organized by the London-based Official Monetary and Financial Institutions Forum (OMFIF) policy think tank. Stablecoin…

Michael Saylor joyous at FASB decision to review crypto accounting rules

The Chief Executive Officer of MicroStrategy and Bitcoin maximalist Michael Saylor has expressed excitement about the U.S. Financial Accounting Standards Board (FASB) decision to review rules for crypto. Congratulations to the #Bitcoin community. This morning, by unanimous vote of 7-0, the Financial Accounting Standards Board (FASB) agreed to add a project to review Accounting for…

Crypto presents golden opportunity for UK to take back financial crown post-Brexit

The U.K. has the opportunity to become a global crypto hub by ditching ‘Brussels rules,’ according to the Telegraph, which continues to promote the idea of the City of London reinventing itself through cryptocurrency in the post-Brexit era. In a recent article, author Barnabas Reynolds argued that nowhere else is better placed to become a…