Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

October 17, 2024 Bitcoin.com

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes

October 7, 2024 Bitcoin.com

AML

New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using blockchain analytics to monitor risks. Applications are due by Oct. 14. New […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says

September 26, 2024 Bitcoin.com

bitcoin.com

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shift towards the petroyuan and Russia’s plans to reduce dollar reliance. However, […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

Lawmaker Criticizes Biden-Harris Administration’s Approach to Defi Regulation

September 11, 2024 Bitcoin.com

Biden

House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

German Authority Seizes 13 Unauthorized Crypto ATMs

August 21, 2024 Bitcoin.com

ATMs

Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

Philosopher Yuval Noah Harari warns of AI’s risks in finance

May 7, 2024 Coin Telegraph

AI regulation

The bestselling author, philosopher and historian sees grim potential for AI to get out of control in the financial system.

The unbridled use of artificial intelligence in the financial system could lead to dire results, author, philosopher and history professor Yuval Noah Harari told an audience at the Bank for International Settlements (BIS) Innovation Summit. Strong institutions are needed to keep AI in check, he said.

The financial system creates trust, Harari argued. Money, bonds and other financial devices allow millions of strangers to work together toward common goals. But no effort has been made to make financial regulation understandable “to humans,” he said:

Harari cited the financial crisis of 2007-2008 as an outcome of incomprehensible financial innovation. Regulators were unable to understand new financial products well enough to regulate them.

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

Coinbase Files Legal Action Against SEC Over Lack of Regulatory Clarity

April 25, 2023 Bitcoin.com

bitcoin.com

On April 24, 2023, Coinbase announced that it had filed an action in federal court requesting the U.S. Securities and Exchange Commission (SEC) to respond to their petition. The petition, submitted in July 2022, requested the commission to propose and adopt rules governing the regulation of digital assets. Coinbase Requests SEC to Respond to Petition […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs

April 16, 2023 Bitcoin.com

Atlantic Council

During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

Economist Paul Krugman Criticizes Florida Gov. Ron DeSantis’ Opposition to Central Bank Digital Currency

April 15, 2023 Bitcoin.com

Adoption

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 […]

Coinbase CEO Brian Armstrong and Trump Reportedly Hold Private Discussion

Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023

April 15, 2023 Bitcoin.com

2008 Crisis

Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.” […]

financial system

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