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Stablecoins can pose risks to financial stability and need to be adequately regulated, according to the Group of 20.The G20’s Financial Stability Board (FSB) issued a comprehensive stablecoin study on April 14, presenting 10 recommendations to regulate them effectively.The regulators were spurred by the introduction of Facebook’s Libra, which
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It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector. With the year-long adoption deadline fast approaching, how have the world’s regulatory authorities responded to the guidelines so far?The FATF — an intergovernmental organization tasked
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To look at the U.S. government, it is the best of times and the worst of times for personal financial privacy. On the one hand, in comments before the Senate Financial Services Committee, Treasury Secretary Steven Mnuchin said his agency's Financial Crimes Enforcement Network, or FinCEN, is planning stricter regulations on
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Throughout the seven volatile years during which Circle founder Jeremy Allaire has been developing crypto products, he has consistently warned there's much work to do before the technology is ready for mass usage.Now, with governments starting to explore digital currencies, new stablecoin models emerging and big tech platforms like Facebook
Read MoreElizabeth Denham, Information Commissioner, said: “This is an important step forward in addressing people’s growing mistrust of social media and online services. “We all
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With bitcoin setting a blistering pace for 2020, Markets Daily is back with the news moving markets, plus a look at several stories on the escalating, global interest in blockchain by governments.No time to listen? scroll down for the complete episode transcript...Tune in as CoinDesk podcasts editor Adam B.
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Diego Gutierrez Zaldivar is the CEO of IOVLabs and co-founder of the NGO Bitcoin Argentina. During Labitconf 2019, he gave a presentation entitled "How Bitcoin, RSK and RIF are shaping the internet of the future." CryptoX spoke with him in Uruguay to learn more about the platforms that aspire
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A data center of the government in Argentina was recently attacked by blackhat hackers who demanded a ransom in Bitcoin(BTC)trade. Sensitive data regarding local government in files was compromised during the attack.Argentina’s Minister of Science and Technology Alicia Bañuelos, representative of the local government of San Luis, gave details of
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Chinese authorities have warned local cryptocurrency firms about virtual currency trading, and this has now caused at least five crypto exchanges to block their operations and for the course of this month will not provide services for users in the country.President Xi Jinping, who had previously proclaimed his support for
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“…But it could also bring a lot of illegal cross-border financial activities. This should be a matter of great concern to all countries, especially emerging markets.” Sun TianqiSpeaking on the Bund Summit in China’s commercial hub, the chief accountant of China’s State Administrator of Foreign Exchange (SAFE), Sun Tianqi, urged
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