The bank said it will work with the Treasury, Payments Systems Regulator and the Financial Conduct Authority to also ensure the singleness of money is maintained even when stablecoins are involved. That is, making sure all forms of money – cash, bank deposits and so on – are interchangeable with each other. Source
The Bank of Zambia has defended its de-dollarization plans but also seeks input from stakeholders who oppose the proposal. The central bank governor clarified that they are not proposing anything new; instead, the bank aims to enforce existing laws designating the kwacha as the sole legal tender for domestic transactions. Zambia’s Central Bank Seeks Input […] Source CryptoX Portal
The Bank of Israel has initiated the “Digital Shekel Challenge” to explore the potential of a central bank digital currency (CBDC) system inspired by the BIS Innovation Hub’s “Project Rosalind.” Fourteen teams from various sectors have been selected to propose innovative use cases. The challenge aims to integrate digital shekel with other payment systems and […] Source CryptoX Portal
Sygnum, which is licensed in Luxembourg, Singapore, and its native Switzerland, plans to acquire new licenses in Europe under the Markets in Crypto Assets (MiCA) regulations, which started to take effect last month and introduced a single regulatory environment throughout the 27-nation trading bloc. It also plans to expand its regulated operations in Hong Kong. Source
Senator Cynthia Lummis of Wyoming is preparing to introduce new legislation that would require the Federal Reserve to hold bitcoin as a strategic reserve asset, as reported by Fox Business News. According to three anonymous individuals with knowledge of the matter, the bill is set to be announced at the annual Bitcoin Conference in Nashville, […] Original
MoonPay’s integration with Polymarket allows bettors to wager funds from non-crypto vendors. Polymarket, a popular crypto betting site, is upgrading its platform to handle the surge in wagers driven by recent online hype and the tumultuous U.S. presidential election. In partnership with Miami-based MoonPay, Polymarket will soon enable users to pay for bets via bank transfers and credit cards, simplifying the current process of purchasing stablecoin USDC on a crypto exchange. BREAKING: Moonpay partners with Polymarket to enable credit card payments for the leading prediction market This partnership will also…
Early employees of startups are often given shares as part of their compensation, which they can cash in when the company goes public. However, higher interest rates in recent years have made for an uncertain environment for IPOs. Revolut may be aiming to allow employees to raise some cash while giving the firm’s valuation an added boost ahead of an IPO. Source
A security breach at a Coinbase-linked bank earlier this month exposed the sensitive personal information of more than 150 of the exchange’s customers. The incident happened on July 11th and impacted a third-party bank that Coinbase uses to process payments, according to a data breach notification published on the Maine Attorney General’s website. In a sample letter to customers that Coinbase provided in the Maine notification, the exchange explains that the bank mistakenly uploaded a file containing transaction data and personal information to an external location where it could have…
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other […] Source
Crypto exchange Bitmex has pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an adequate anti-money laundering (AML) program, resulting in the company being a vehicle for large-scale money laundering. The DOJ announced this plea following previous legal actions and settlements. Bitmex says: “We have accepted the BSA charge, will seek […] Source