“More than $600 million was stolen in a cyberattack that targeted DeFi cryptocurrency platform Poly Network. Poly Network said all of the funds bar $33 million worth of the digital coin tether has now been returned. But $268 million of assets is currently locked in an account that requires passwords from both Poly Network and the hacker… In a message embedded in a digital currency transaction, the suspected hacker said they would ‘provide the final key when _everyone_ is ready.'”
Here’s a very thorough thread from @finhstamsterdam on how the EU upfront regulation of e-money (due to a non-existing payments regulatory starting point) and the US wait/see/regulate approach to stablecoins (based on already existing competencies and law) are equally logical.
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