South Korea’s ruling political party and its opposition party are making poll promises related to crypto ahead of the national elections later this year scheduled for April 10. Source
“Labour recognises the growing case for a state-backed digital pound to protect the integrity and sovereignty of the Bank of England, and the U.K.’s financial and monetary system,” the party said. “Labour fully supports the Bank of England’s work in this area, and wants to ensure that issues such as threats to privacy, financial inclusion and stability are effectively mitigated in the design of a central bank digital currency.” Source
Tether and Bitfinex have chosen not to challenge the Freedom of Information Law (FOIL) request initiated by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of displaying “certain behaviors.” The companies allege that Faux’s prior reports on Tether and Bitfinex exceeded the boundaries of professional journalism. FOIL request in action In the Nov. 24 announcement, the two firms claim that media outlets, such as The Wall Street Journal and Bloomberg, have journalists involved in the ongoing FOIL request, have presented “one-sided and inaccurate” information. Tether and Bitfinex…
Tether previously made a similar announcement after losing in court twice when attempting to block a June 2021 FOIL request filed by CoinDesk. That request pertained to documents produced during the New York Attorney General’s inquiry on allegations that USDT, the U.S. dollar-pegged stablecoin that Tether issues, was not sufficiently backed by reserves from mid-2019 to early 2021, settling charges with the company at the end of that period. Source
Tether and Bitfinex have jointly agreed to drop initial opposition to a Freedom of Information Law (FOIL) request lodged in New York by a number of high-profile news publications. A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is committed to transparently sharing information following a FOIL request from CoinDesk earlier this year. The companies also indicated that they would not be openly releasing documentation, claiming that the approach is not in line with its business practices: “It’s essential to clarify that transparency does…
Ultimately central bank officials are usually economists, not marketing experts, and technical answers may only go so far. As Erik Luts, chief innovation officer at Belgian bank KBC, said, for CBDCs to work, people need to trust them, and that requires its proponents not just to argue over details, but to convince them of honest motives. Source
“The Senate Committee was expected to report on this Bill over a month ago and the industry has been eagerly awaiting Treasury consultation on crypto-custody and licensing,” said Blockchain Australia Chair and Digital Assets Lawyer Michael Bacina. “That consultation should be able to build on the industry submissions published as part of the Senate Committee’s review of this Bill.” Source
The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator of virtual assets. The Battle to Control and Regulate Virtual Assets The Bank of Korea (BOK) is set to be granted its wish to investigate virtual assets after the country’s Financial Services Commission reportedly dropped…
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and money laundering.” Referring to CBDCs as ‘Woke’ Money, Krugman Attacks ‘Monetary Conspiracy Theory Types’ Economist Paul Krugman, who follows the Keynesian school of economics, wrote an opinion article criticizing Florida governor Ron DeSantis’s opposition to…
Thailand’s opposition leader, Srettha Thavisin, has vowed to provide each Thai citizen with a $300 USD equivalent cryptocurrency airdrop to stimulate the economy and promote digital currency adoption if he becomes the nation’s next prime minister. Thailand’s prominent opposition leader, Srettha Thavisin, has made a bold campaign promise to provide every Thai citizen with a $300 USD equivalent cryptocurrency airdrop if he is elected as the country’s next prime minister. Thavisin, who leads the Progressive Movement, believes this initiative would boost the nation’s economy and alleviate poverty. BREAKING: 🇹🇭 Thailand’s…