Politics

New Guidance for Crypto Exchanges Issued by Canadian Regulator

  • The two major exchange scandals last year could be the reason behind this push for consumer protection.
  • The new guidance draws a line between exchanges with "immediate" delivery of assets and the ones that hold assets.

  • The two major exchange scandals last year could be the reason behind this push for consumer protection.
  • The new guidance draws a line between exchanges with "immediate" delivery of assets and the ones that hold assets.
Building of Japan's Financial Services Agency. Nikkei Asian Review

Japan to Place Strict Crypto Margin Trading Limits

  • The permitted leverage for crypto margin trading in Japan will be lowered to only two times the deposit, starting this summer.
  • The move is an attempt from the Japanese Financial Services Agency to lower the risk of the volatile cryptocurrency market.
SIM card on a purple, yellow, pink, and teal background. Secrets of Buenos Aires

U.S. Lawmakers Urge FCC to Tackle SIM-Swapping Crime

  • U.S. lawmakers have requested in a letter that the FCC imposes more robust requirements on mobile carriers.
  • The letter points out that from 2016 to 2019 the number of complaints relating to SIM swaps have increased from 215 to 728.
Chinese President Xi Jinping. Wu Hong-Pool/Getty Images

China’s National Cryptocurrency on its Way, Could Oppose Facebook’s Libra

  • China is leading the state-backed cryptocurrency race as they are afraid that Libra could extend the American financial hegemony.
  • The People’s Bank of China will issue both the cryptocurrency and the digital wallets needed for its CBDC usage.

Bitcoin Derivatives Could Soon Be Allowed in South Korea

  • Advising the government on new tech policies, the PCFIR recommended the development of crypto derivatives in the country.
  • The committee further suggested that Bitcoin should be directly listed on Korea's only securities operator, the Korean Exchange.

Bank of China’s Digital Yuan “Progressing Smoothly”

  • During the PBoC's annual work conference, China's central bank stated that the development of its CBDC was "progressing smoothly".
  • The central bank further stated that it will "continue to steadily advance the development of legal digital currencies" in 2020.

South Korea’s Central Bank to Establish a CBDC Task Force in 2020

  • The head of Bank of Korea's Banking and Finance Bureau believes that CBDCs will not bring benefits to developed economies.
  • Possibilities involving CBDCs are researched in the U.S. and Europe, while China may soon see the rise of a “digital yuan”.

SEC: Wilshire Phoenix Bitcoin ETF Proposal Decision Delayed to 2020

  • After more than a dozen bitcoin ETF rejections in the last couple of years, this is hardly surprising.
  • Wilshire managing partner William Herrmann assures the ETF is shielded from bitcoin's price volatility.

U.N. to Use Blockchain to Prevent Hong Kong Migrant Workers Exploitation

  • The new tool is created by Diginex and the International Organization for Migration.
  • The United Nations' goal is for the new tool to serve as a practical solution for businesses to adopt ethical recruitment practices.

South African FSCA Updates Stance on Karatbars

  • The Financial Sector Conduct Authority in South Africa has loosened on its aggressive stance on the Karatbars project.
  • The agency has noted that the two products Karatbars markets in the country are outside of its jurisdiction.

Swiss Government: CBDC Risks Outweigh Benefits

  • Agreeing with the government, the Swiss National Bank stated that issuing a CBDC will be a major challenge.
  • The Federal Council did say that CBDCs being restricted to financial market players would be "a more promising strategy".

SEC Chairman Optimistic on Crypto, Blockchain Technology

  • The SEC is rather positive on the advancement of the digital world and according to its chairman they should not go against it.
  • Still, the agency is conducting a measured approach, carefully assessing digital assets and taking actions against illegal activities.

New York Regulator to Update BitLicense Terms

  • The new updates, proposed by the NYDFS, will help the regulator modify its approval process for listing new virtual currencies.
  • This will be the first time that the N.Y. authority has updated its BitLicense since 2015.

Bank of China Issues $2.8B in Blockchain-Based Bonds

  • The bonds are issued with the goal of stimulating small and micro-sized businesses in the industry.
  • The Bank of China also stated that it had lent 404 billion Yuan to more than 410,000 small and medium-sized enterprises by this September.