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The People’s Bank of China held a teleconference on April 3 in Beijing, China. One of the main points confirmed during the call involved the institution’s continued research and development of a central bank digital currency, or CBDC.
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In a coordinated strike against some of the best-known companies in crypto, a US law firm issued a barrage of class-action lawsuits aimed at Binance, Block.one, Bitmex, Tron and several others. The lawsuits allege that the firms bilked investors by selling unlawful securities in the form of digital tokens.
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The World Bank recommends the following key actions to accelerate the efforts to reduce remittance prices to respond to the challenges of widespread unemployment and the plight of migrant communities in host countries; (i) embrace the new emerging remittance models, (ii) support universal financial access in receiving countries and amongst migrant workers in sending countries, (iii) enhance domestic retail payment systems promoting interoperability and fast payment services and enable leveraging these for remittances, (iv) enhance AML/CFT compliance in receiving countries and support development of digital ID solutions, and (v) support development of comprehensive integrated cross-border payment solutions for MSME trade flows, ecommerce and remittances.
Kiffmeister’s Fintech Daily Digest 04/05/2020
