Florida’s House of Representatives passed a bill that seeks to ban the use of a central bank digital currency (CBDC) in the state, which is in line with Republican governor Ron DeSantis’s stance on the matter. The bill SB 7054 (pdf) defines the term “central bank digital currency” and revises the term “money” to make…
Florida Defines ‘Money,’ Passes Bill to Ban a Central Bank Digital Currency
May 3, 2023
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Business & MarketsCentral Bank Digital Currency (CBDC)cryptocurrencydesantisFloridaMarketsPolicies & ImpactsRegional & State NewsState NewsUSUS News
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‘We Don’t Quite Know’ About the Consequences of Retail CBDCs: IMF Chief
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), is warning that the world is heading toward a widespread adoption of central bank digital currencies (CBDC) without properly considering the risk factors involved. “We are going in that direction,” Georgieva said about the adoption of CBDCs worldwide during a May 1 discussion Milken Institute…
Fugitive CEO Fined Record $3.4 Billion for Bitcoin Investment Fraud
April 28, 2023
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A United States court has ordered a South African citizen to pay over $3 billion in fines for duping American investors through a fraudulent Bitcoin investment scheme. Cornelius Johannes Steynberg was ordered by a federal judge in the U.S. District Court for the Western District of Texas to pay $1.73 billion in restitution to defrauded…
US Charges North Korean Banker Over Crypto Laundering Conspiracies
April 26, 2023
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Asia & PacificBusiness & MarketsCrime and IncidentscryptocurrencyDepartment of Justice (DOJ)MarketsNorth KoreaPublic SafetySim Hyon SopUSUS NewsWorld
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The United States has indicted a North Korean banker for his alleged role in cryptocurrency laundering conspiracies designed to buy goods and generate revenue for the North Korean regime. Sim Hyon Sop, a representative of the North Korean Foreign Trade Bank (FTB), was accused of conspiring with over-the-counter crypto traders to launder funds stolen from…
FTX Celebrity Promoters Say Crypto Investors Cannot Sue Over Accounts
Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States, which required the…
Twitter Taps EToro to Let Users Trade in Stocks, Crypto
April 13, 2023
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Business & MarketsCompaniescryptocryptocurrencyEToroMarketsMedia & Big TechSocial MediastocksTechtradeTwitterUSUS News
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Trading and investing platform eToro said on Thursday it has partnered with Elon Musk-led Twitter to let users access real-time prices of cryptocurrencies, stocks, and other assets, and to enable the trading of those instruments. The trading data will be available through Twitter’s Cashtags feature, which was launched in 2012 and allows users to interact…
Bankrupt Crypto Exchange FTX Has Recovered $7.3 Billion in Assets
Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company’s attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX attorney Andy Dietderich said the company is starting to think about its future after months of…
Calgary Planning to Be Law Enforcement Training Hub on Cryptocurrency Crimes
Police in Alberta’s largest city are turning to a global blockchain data platform to help combat cryptocurrency crimes. Calgary police announced Wednesday they have entered into a partnership with Chainalysis, a U.S.-based company that provides data, software and research services to government agencies, financial institutions, cybersecurity companies and now law enforcement organizations. It is to…
Dollar Slips Ahead of US Inflation Data
SINGAPORE/LONDON—The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. Against a basket of currencies, the U.S. dollar index fell 0.1 percent to 102.02. The U.S. inflation data for March is forecast to come in at 5.2…
Bitcoin Breaks Above $30,000 as Investors Eye End of Rate Rises
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last up 1.4 percent at $30,070. It…
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