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“Despite market volatility, a fall in digital asset prices and the collapse of a number of crypto businesses, investment in crypto-assets is expected to remain strong in 2023," Jon Garvey, PwC United States' global financial services leader, said. "Traditional hedge funds, committed to the market in the longer term, are
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In May, Bitcoin (BTC) posted its first monthly loss since December 2022 with a negative 6.98%. However, this consolidation was not obviously driven by a change in fundamentals or the broader macroeconomic environment. The crypto market was looking for direction and liquidity in this phase before the United States Federal
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Federal Reserve Chairman Jerome Powell argued for the need for strong central-bank oversight in stablecoin regulations being crafted by lawmakers in the House Financial Services Committee. Source
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The United States Federal Reserve Board sees payment stablecoins as a form of money, Chair Jerome Powell said during questioning at the House of Representatives Financial Services Committee’s semi-annual hearing on Fed policy on June 21. Powell’s comments came in response to committee ranking member Maxine Waters, who asked for his
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IMF director Kristalina Georgieva highlighted the stability of lending while urging the US Federal Reserve to consider further actions in response to an uncertain economic climate. In a recent interview with CNBC, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), said that lending remains strong despite the uncertain
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The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the country.In a policy paper released on March 30, the U.K. Treasury and Home Office said it planned to “robustly” regulate crypto to fight
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The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate
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Institutions have begun to take crypto seriously and have entered the space in numerous ways. As noted in a previous analysis, this has resulted in banks and fintechs looking at custody products and services for their clients. However, as custodians of clients’ assets, banks must also ensure they are clean assets
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The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to G20 in October The Financial Stability Board (FSB), an international body
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The Solana network faced its seventh outage on Saturday, resulting in a downtime of over seven hours. The developer team has released an outage report, along with three key mitigation steps to make the network more stable.The network outage on Solana was caused by a significant surge in the number of transactions
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