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Financial services firm Mastercard has partnered with crypto gateway provider Fasset to co-develop digital solutions that may drive adoption in Indonesia. The collaboration aims to expand financial inclusion in the country and extend opportunities to its local economy. In an announcement, Navin Jain, the country manager for Mastercard Indonesia, said that
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Last week, CoinDesk reported that Celsius fully paid off and closed its loan on Maker, one of the largest DeFi lending protocols, and freed up $440 million of collateral pledged against the loan, denominated in wrapped bitcoin (WBTC) tokens. Additionally, on Tuesday, the crypto lender reduced its debt by $95
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Though critics of a central bank digital currency have said it could amplify bank runs, the Office of Financial Research says it may actually help. Source
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It only took 13 years for crypto to recreate the same kind of financial crisis it was designed to prevent. Here’s how it (almost) all went down. Original Source
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Singapore’s state-owned investor Temasek said it sees more broader-market declines in coming months. Source
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"The FSB is working to ensure that crypto-assets are subject to robust regulation and supervision," the statement said, adding the recent "turmoil" in crypto markets highlights the intrinsic volatility and structural vulnerabilities as well as the increasing interconnectedness between crypto markets and the traditional financial system. Source
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Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial restrictions imposed over its invasion of Ukraine. Top Financial Regulator
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Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system “now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.” Fed Vice Chair Brainard on Crypto Regulation Lael Brainard, the
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Ashley Alder, the CEO of Hong Kong’s Securities and Futures Commission, will become the next chair of the United Kingdom’s Financial Conduct Authority.In a Friday announcement, the U.K. Treasury said it had appointed Alder to chair the country’s financial watchdog starting in January 2023. He will succeed interim FCA chair Richard
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Alder leaves a legacy in Hong Kong of mixed crypto regulations that saw FTX depart and retail investors largely excluded. Original Source
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