On July 17th at 11:30am ET The Block will host a panel with leading Central Bank Digital Currency (CBDC) experts to discuss The Block’s soon-to-be-launched report exploring CBDC history, motivations, policy designs and technological implementations. The panelists will be Carmelle Cadet (Emtech), @Kiffmeister (International Monetary Fund), and Sheila Warren (World Economic Forum).
UK FCA toughens rules on payment companies after Wirecard collapse
The UK Financial Conduct Authority brought forward stronger measures to protect the users of payment cards and digital apps, in the wake of the Wirecard debacle. Under the new guidance, payment providers and e-money issuers must keep up-to-date records of all funds received and maintain a clearly separate “safeguarding account” for customer money. Companies must also be more careful when selecting and appointing third-party service providers.
Bitfinex Must Face N.Y. Suit Over $800 Million in Lost Funds
A New York state appeals court ruled that Bitfinex must face claims by New York state that it hid the loss of commingled client and corporate funds. Companies connected to Bitfinex are accused by the New York Attorney General of hiding the loss of more than $800 million in client and corporate funds. Companies tied to Bitfinex also operate the stablecoin Tether, which serves as a conduit for trading in much of cryptocurrency market globally. The appeals court rejected the argument that Tether, with a market capitalization of more than $9 billion, is not a security or commodity, and said the court has jurisdiction over its issuer.
Malaysia’s Securities Commission to Legalize Digital Asset and Crypto Trading
Malaysia’s Securities Commission Shariah Advisory Council will reportedly announce that the trading of digital assets will soon be legal in the country. SC chairman Datuk Syed Zaid Albar said that “The… Council has resolved that in principle, it is permissible to invest and trade in digital currencies and tokens on registered digital asset exchanges” during a teleconference panel session.
DeFi Crypto Lenders – Who Offers the Highest Yield for Depositors?
With the growth of DeFi applications, crypto lending, margin exchanges, and stakable cryptocurrencies over the last few years, it can be difficult to know where the best yields for your idle capital are. Following on from our guide to crypto yield farming, this survey looks into the major crypto lending platforms and examines the different interest rates offered by them.
Posted from Diigo: https://www.diigo.com/user/kiffmeister/Fintech