The International Monetary Fund (IMF) is working on a platform that would allow various central bank digital currencies (CDBCs) to interoperate on a global scale, which comes amid a broader push toward cashless societies and concerns about risks to freedoms. IMF managing director Kristalina Georgieva told conference participants on Monday in Rabat, Morocco, that the…
IMF Pushes Global Central Bank Digital Currency Platform as Cashless Trend Builds Steam
A Missouri Doctor’s Death Is Steeped in Mystery and Speculation. Authorities Aren’t Talking
CASSVILLE, Mo.—John Forsyth was known as a hard-working doctor who cared deeply for his patients and often teased nurses in the emergency room to ease tension. He was a father of eight and newly engaged. He also co-founded a cryptocurrency business with his brother. His sudden disappearance from a southwestern Missouri town last month—and the…
Bankman-Fried to Get 2nd Trial on Bank Fraud, Bribery Counts
June 15, 2023
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NEW YORK—A U.S. judge on Thursday granted a request from prosecutors to try some of their charges against Sam Bankman-Fried in a second trial next year separate from his scheduled Oct. 2 trial over the collapse of now-bankrupt cryptocurrency exchange FTX. Bankman-Fried, 31, will be tried on March 11, 2024, on five counts, including bank…
Binance.US Says SEC’s Temporary Restraining Order Would Destroy the Company
June 14, 2023
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Binance said that the Securities and Exchange Commission’s (SEC) move to freeze the assets of its American affiliate, Binance.US, would effectively destroy the crypto exchange. The SEC filed a temporary restraining order on June 12,to freeze Binance.US’s funds until it was able to prove that no one at the firm, including its CEO, Changpeng “CZ” Zhao, could access…
Binance.US Halts Dollar Deposits, Robinhood Delists Tokens After SEC Crackdown
The U.S. affiliate of Binance said it was halting dollar deposits, while trading platform Robinhood Markets said it was delisting some crypto tokens, after the U.S. securities regulator stepped up its crackdown on the crypto sector. Binance.US, the purportedly independent partner of Binance, said in a tweet on Thursday that its banking partners were preparing…
SEC’s Gensler Likens Crypto to ‘Fraudsters, Scam Artists, Ponzi Schemes’ of 1920s
Securities and Exchange Commission (SEC) head Gary Gensler does not want the U.S. financial system to return to the 1920s, a time before the government adopted federal securities laws. Gensler delivered a virtual keynote address to the Piper Sandler Global Exchange & FinTech Conference in New York on June 8, providing a combative defense of…
US Doesn’t ‘Need More Digital Currency,’ SEC Chief Says as Agency Cracks Down on Crypto
The U.S. economy does not need any more digital currencies, according to Gary Gensler, the Securities and Exchange Commission (SEC) chief. Appearing on CNBC’s “Squawk on the Street” on June 6, Gensler asserted that cryptocurrency and virtual tokens are unnecessary in today’s economic landscape. “Look, we don’t need more digital currency,” he told the business…
SEC Lawsuit Against Coinbase and Binance Sparks Controversy and Political Maneuvering
Commentary Yesterday, the Securities and Exchange Commission (SEC) fired a bombshell at the cryptocurrency industry. It is suing Coinbase, a publicly traded company which the SEC approved after going through its business plan to publicly list for trading two years ago. It is also suing Binance, a crypto currency exchange that is domiciled in Hong…
The SEC Chooses the Nuclear Option
Commentary The U.S. Securities and Exchange Commission (SEC) has just filed complaints in a federal court against two of world’s largest cryptocurrency exchanges, Binance and Coinbase. Binance, the largest exchange globally with several billion dollars of daily transaction volume, is registered offshore and technically off limits to U.S. investors. Coinbase, on the other hand, is…
Dollar Eases as Chances for a US Rate Rise Ebb
LONDON—The dollar dipped on Wednesday as chances faded for a rate hike next week by the Federal Reserve, while the Canadian dollar touched one-month highs as traders amped up bets for the country to raise rates and the Turkish lira hit record lows. The Australian dollar traded at three-week highs above $0.67 after the Reserve…
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