In a joint statement released by three United States federal agencies, the banking sector was advised against creating new risk management principles to counter liquidity risks resulting from crypto-asset market vulnerabilities. The Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the…
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The Financial Action Task Force, or FATF, has reported that its delegates have come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies. In a Feb. 24 publication, the FATF says the plenary for the financial watchdog — consisting of delegates from more…
During the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s presidency, the members were invited to discuss key financial stability and regulatory priorities, among other policy approaches. India urged member nations to build and understand the macro-financial implications of crypto assets and recommended formulating a coordinated…
Bitcoin is struggling to stay above $23,000 as the weekend approaches. The selling pressure increased after the personal consumption expenditures excluding food and energy rose 0.6% in January and 4.7% over the year, above market expectations of an increase of 0.5% and 4.4% respectively. This could trigger fears that the…
According to data from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially as Machi Big Brother — dumped 1,010 tokens for a total of 11,680 Ether (ETH) or $18.6 million in the space of 48 hours. In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew…
Ad Crypto exchanges Huobi and KuCoin continue to provide services to users of sanctioned Russian banks, according to a report from Politico on Feb. 24. The news publication cited a report from Inca Digital to that effect. Inca’s report specifically suggests that clients of sanctioned Russian banks can use bank-issued…
The bullish momentum that propelled Bitcoin (BTC) price to a 2023 high of $25,000 initially on Feb. 16 and Feb. 20 appears to have waned. The pause in bullish momentum appears connected to higher-than-expected U.S. inflation data, the possibility of the Federal Reserve continuing higher interest rate hikes and large…
Crypto assets made their way onto the United States Securities and Exchange Commission’s list of priorities for 2023. So far, though, we haven’t tasted the “regulatory certainty” many have been calling for. Instead, the regulator threw the book at Kraken for allegedly failing to register its staking program. Coinbase appears…
Ad Oasis Network worked with a whitehat hacking group to retrieve funds stolen from Wormhole, according to a post from the former project on Feb. 24. On Feb. 2, Solana’s Wormhole bridge was exploited for a sum of cryptocurrency now estimated at $326 million. The attacker later moved a portion…