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Each of the accused men has been arrested by the Federal Bureau of Investigation and faces four criminal charges in U.S. District Court for the Southern District of New York: bank fraud conspiracy, conspiracy to commit wire fraud affecting a financial institution, money laundering conspiracy and aggravated identity theft. The
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Central banks have a responsibility to keep pace with the digital age and lead innovation, Agustín Carstens, general manager of the Bank for International Settlements (BIS), believes.In his opening remarks at a conference in Basel, Switzerland, on Nov. 8, Carstens called central bank digital currencies (CBDCs) the “central element” of
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The Swiss National Bank (SNB), six commercial banks and the SIX Swiss Exchange will work together to pilot the issuance of wholesale central bank digital currencies (CBDCs) in the nation, officially known as the Swiss franc wCBDC.The pilot project dedicated to wholesale CBDC, named Helvetia Phase III, will test the
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Payment processor Visa has completed the Hong Kong Monetary Authority’s central bank digital currency (CBDC) pilot program with HSBC and Hang Seng Bank. According to the Nov. 1 announcement, the e-HKD program involves tokenization of deposits, where the money deposited with a bank is minted on the firm’s own blockchain ledger with the
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Brazil’s top financial institutions are preparing for the nationwide rollout of the central bank’s digital currency, Drex. As Brazil’s central bank gears up for the introduction of its digital currency, Drex, leading financial institutions like Itau Unibanco, BTG Pactual and Santander Brasil are escalating their efforts. These major banks are increasing
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"Today’s launch marks an important moment for our clients and for the potential of digital assets, Lieve Mostrey, CEO of Euroclear, said in the press release. "We strive to deliver technology solutions that empower investors, foster market transparency and support the growth and stability of all market participants." Source
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The Office of the Inspector General for the FDIC – an internal watchdog function within U.S. agencies – studied the banking agency's performance when it came to preparing the industry for crypto's risks and found it lacking, according to a report issued on Wednesday. Original Source
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The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging.On the surface, this proof-of-concept project backed by some of Europe’s biggest central banks — like German central bank Deutsche Bundesbank and Dutch central bank De Nederlandsche
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The Basel Committee of the Bank of International Settlements (BIS) released a consultation paper on Oct. 17, proposing to make it compulsory for banks to disclose their crypto exposure. The Basel Committee is a global regulatory platform for the regulation of banks and provides a forum for cooperation on banking
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