The governor of the Bank of Thailand (BoT) has said that it will take three to five years for countries to switch from using cash to using digital currencies. The bank governor’s comments were reported by the Thai News Agency (TNA), a subsidiary of the Thai state-owned public broadcaster,...
The Monetary Authority of Singapore (MAS), the country’s central bank, has broadened its regulatory regime for payment providers to bring certain cryptocurrencies under its jurisdiction. The development was reported by English-language local broadsheet The Straits Times Nov. 19. The new Payment Services Bill (PSB), submitted by MAS board member and...
The company behind major cryptocurrency exchange Huobi has created a Communist Party branch as part of its obligations to the Chinese state, the company’s U.S.-based subsidiary Huobi Info confirmed Nov. 16. Singapore-based Huobi, which was founded in China and has sought considerable international expansion this year, has appeared to opt...
The Canadian House Finance Committee has recommended that the government start regulating cryptocurrencies to prevent money laundering, Canadian digital newspaper iPolitics reports Nov. 14. According to iPolitics, the Canadian House Finance Committee suggested that cryptocurrencies should be regulated during its review of the Proceeds of Crime Money Laundering and Terrorist...
In a self-described “first,” the U.S. Securities and Exchange Commission (SEC) has imposed civil penalties against two Initial Coin Offerings (ICOs) solely over their failure to register their token sales, according to an official Nov. 16 press release. The SEC states it has reached settlements with two ICO companies, CarrierEQ...
The number of enquiries about cryptocurrencies from Japanese investors has declined in the third quarter of 2018, according to a report published by Japan’s Financial Services Agency (FSA) Friday, Nov. 16. The FSA, which oversees the country’s crypto market, published data on quarter enquiries to late September 2018. The watchdog...
Central bank digital currencies (CDBCs) can help improve counterparty credit risk for cross-border interbank payments and settlements, according to a new in-depth report jointly published by the central banks of Canada, the U.K. and Singapore, Nov. 15. A CBDC is a digital currency issued by a central bank whose legal...
Crypto loans company Salt Lending Holdings Inc., once associated with high-profile crypto industry stalwart Erik Voorhees, is facing a U.S. Securities and Exchange Commission (SEC) probe over its 2017 $50 million token sale, the Wall Street Journal (WSJ) reported Nov. 15. Founded in 2016, Salt — which uses clients’ crypto...
Ohio Congressman Warren Davidson plans to introduce a bill that would allow Initial Coin Offerings (ICOs) to “sidestep” U.S. securities laws, according to a report from Washington Examiner Nov. 13. Citing a spokesman for Davidson – Republican congressman for the 8th district of the state of Ohio – the publication...
The Initial Coin Offering (ICOs) industry in France represents a minor part of the global ICO market, according to a report on ICOs released by French financial markets regulator AMF (l'Autorité des marchés financiers) today, Nov. 14. According to the recent study, the global ICO market has accounted for 19.4...