Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and […]
Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still consulting market participants, with no set implementation date. Kalyalya highlighted that foreign currency use hinders effective monetary […]
South Korea’s financial regulator, the Financial Supervisory Service (FSS), will inspect crypto exchanges to identify illegal practices following stricter regulations under the Virtual Asset Users Protection Act. The review aims to ensure compliance and safeguard crypto assets, with severe penalties for violations, including life imprisonment for profiting over five billion won illegally. South Korea’s Financial […]
Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal, it retained the right to contest them, leading to frustration within the crypto community. This uncertainty has […]
The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these transactions under federal securities laws. FTX’s Crypto Repayment Plan Faces Potential SEC Challenge The FTX bankruptcy saga is moving […]