Tag: Issues

Mt. Gox Issues March 10 Ultimatum to Creditors

Mt. Gox creditors who suffered losses must register their information in an online rehabilitation claim filing system and choose a repayment plan. Creditors from Mt. Gox have been told that they have until Friday, March 10 to register and indicate their preferred repayment method. The announcement, which was shared by Mt. Gox trustee Nobuaki Kobayashi, is in line with the efforts of the defunct exchange to compensate creditors for their losses. To this end, Kobayashi issued a reminder on Tuesday about the earlier January notice.  According to the initial rehabilitation…

Russian bank issues first on-chain bank guarantee in Chinese yuan

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Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication.  According to a statement, the transaction was performed through the Masterchain blockchain platform, andthe Russian national blockchain network created to transfer digital assets​ between its participants. As one of the advantages of performing the transaction on-chain, the financial institution mentioned that “the beneficiary does not need to wait for the paper…

US Treasury-led CBDC Working Group looking at technical issues, national interest

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The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical and policy issues the Treasury-led CBDC Working Group is looking at. Liang looked at both wholesale and retail CBDC (wCBDC and rCBDC), saying wCBDC raised more technical questions, whereas an rCBDC involved access issues. She mentioned in particular that “institutions not currently eligible for central bank accounts” could…

Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain – Finance Bitcoin News

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A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in Yuan Moscow Credit Bank (MKB) has issued what it described as Russia’s first digital bank guarantee for an amount exceeding 100 million Chinese yuan, using blockchain technology — the Masterchain platform developed by the Central Bank of Russia. In…

China Issues New Rules for Overseas IPOs Effective from March 31

Over time, multiple Chinese agencies have consistently provided new rules to guide and protect national security and personal data. The China Securities Regulatory Commission (CSRC) has announced rules for local companies filing Initial Public Offerings (IPOs) overseas. The new rules give domestic companies more clarity on if they can list outside their home country. According to the CSRC, the laws binding the filing of overseas IPOs will become effective for all companies in China from March 31. China Formalizes Laws for Overseas IPOs Announcing the new regulations, the Commission explained…

SEC chair issues warning to celebrities promoting crypto amid latest enforcement action

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The United States Securities and Exchange Commission has announced a $1.4-million settlement with former NBA player Paul Pierce for allegedly promoting a token project on social media. In a Feb. 17 announcement, the SEC said Pierce touted EthereumMax (EMAX) tokens through social media channels without disclosing he had received payment for the promotion and made “false and misleading statements” regarding the project. According to the SEC, promoters paid the former NBA star $244,000 worth of EMAX in addition to him posting messages allegedly showing misleading information about profits on Twitter.…