Drawbacks of Stablecoin Cross-Border Use Outweigh Benefits: Global Payments Watchdog
Existing stablecoins aren’t fully compliant with relevant regulatory requirements, a report by the Committee on Payment and Market Infrastructures said.
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OKX Latest Proof of Reserves Shows Exchange Over-collateralized
The latest proof of reserves shows that the exchange is 103% collateralized with bitcoin, ether, and USDT.
Retail CBDC Could Add Unique Value, but Further Investigation Is Needed, Hong Kong Central Bank Says
Hong Kong has not decided whether to introduce an e-HKD, the report said.
Crypto Miners Lobby U.S. Lawmakers to Counter Environmental ‘Misunderstanding’
Dozens of mining firms came to Washington to steer the policy narrative away from negative environmental claims and make a case for mining as an economic and security boon.
Digital Pound Consultation Received Over 50,000 Responses, With Privacy a Major Concern
Many of the respondents outlined concerns around privacy, programmability and the decline of cash, Jon Cunliffe, deputy governor of the Bank of England said.
Billionaire Ken Griffin’s Citadel Securities Denies ‘Ridiculous’ Claim That It Tanked Do Kwon’s Terraform
Citadel said the claims by Terraform was filed to “deflect attention” from its alleged charges.
Bitcoin Primed for ‘Supply Shock’ as Exchange Balance Drops to 5-Year Low, Analyst Says
A spot ETF approval could fundamentally alter bitcoin’s supply and demand dynamics as professional investors would allocate to BTC as an uncorrelated asset, Forex.com’s Matt Weller told CoinDesk TV.
U.S. Senate’s Banking Chairman Says Panel to ‘Crack Down’ on Crypto’s Terrorism Ties
Despite two forensics firms saying Hamas support via crypto may have been overstated, Sen. Sherrod Brown suggests the U.S. needs to address terrorist use of crypto.
Sam Bankman-Fried’s Defense Wants to Highlight ‘Inconsistent Statements’ by FTX Insiders Gary Wang, Nishad Singh
The duo testified at SBF’s trial.
Bitcoin Spot ETFs Could See Inflows of $14.4B in First Year, Galaxy Says
An ETF could be a better investment vehicle for investors compared to currently offered products, such as trusts and futures, which hold over $21 billion in value, the fund said.