On December 1, the Missouri Senate introduced Senate Bill 194 (SB 194), which marks a significant legislative response to the burgeoning trend of Central Bank Digital Currencies (CBDCs). The bill intends to prohibit the use of CBDCs as legal tender within the state, signaling a growing skepticism among Missouri lawmakers regarding the implications of such
Regulation
The position of the Securities and Exchange Commission (SEC) chair is one of significant influence and responsibility, especially during a tumultuous period in the financial sector. With a new administration on the horizon, speculation around who will fill this pivotal role has heated up. Among the names mentioned, Paul Atkins, a former SEC commissioner, has
In a pivotal development for cryptocurrency enthusiasts and investors within the European Economic Area (EEA), Coinbase has announced that it will be halting rewards for holders of USD Coin (USDC) effective December 1. This decision stems from the anticipated implementation of the Markets in Crypto-Assets (MiCA) regulation, which aims to reform the existing framework governing
In a decisive move to regulate the burgeoning landscape of digital currencies, the Central Bank of Brazil (BCB) has proposed substantial restrictions on the use of stablecoins within centralized exchanges. This proposal aims to prevent any withdrawals of these tokens to self-custodial wallets, marking a significant pivot in how cryptocurrencies are traded and managed within
In an ambitious move to enhance its competitive edge in the financial sector, Hong Kong has proposed tax exemptions specifically tailored for hedge funds, private equity funds, and high-net-worth family offices. The Financial Times highlighted this proposal on November 28, revealing a comprehensive 20-page government document that outlines these initiatives. This strategic proposal aims to
The cryptocurrency landscape is rapidly evolving, particularly with the increasing interest in altcoin exchange-traded funds (ETFs). According to Eric Balchunas, a senior analyst at Bloomberg, the potential approval of altcoin ETFs may lead to a significant transformation in the cryptocurrency market, barring any major market downturns. Currently, there are 14 proposed ETFs linked to various
In a significant turn of events, President-elect Donald Trump is reportedly contemplating the appointment of Paul Atkins as the next chair of the US Securities and Exchange Commission (SEC). Atkins, a well-known figure in financial regulation circles, has a reputation as a proponent of deregulation. His potential ascension to this prominent position comes at a
In a significant move towards modernizing its banking infrastructure, Iran’s Central Bank is gearing up to introduce a central bank digital currency (CBDC) known as the Digital Rial. Announced by Central Bank Governor Mohammad Reza Farzin during the 11th Annual Conference on Modern Banking and Payment Systems, this initiative aims to reposition Iran within the
Recent research from the Financial Conduct Authority (FCA) reveals a noteworthy increase in cryptocurrency ownership among UK adults, with participation rising to 12%, up from the previous 10%. This uptick indicates an expanding acceptance and integration of digital assets into the financial landscape of the UK. Alongside ownership, awareness of cryptocurrencies has reached an impressive
The Blockchain Association, a prominent nonprofit advocating for the crypto and blockchain sectors in the United States, has made a significant move by articulating its priorities in a letter to President-elect Donald Trump and Congress. With the prospective transition of power, the Association identifies five critical areas it believes must be addressed within the first
