Kiffmeister’s #Fintech Daily Digest (20220311)

$2500 Incentive For Jamaicans To Get Digital Wallet

The first 100,000 Jamaicans establishing Jam-Dex Central Bank Digital Currency (CBDC) wallets (accounts) after April 1, will receive a $2,500 deposit from the Government. Minister of Finance and the Public Service Nigel Clarke advised that four more wallet providers are expected to be onboarded by the Bank of Jamaica by June, to bring the overall number to five. The national CBDC rollout is scheduled sometime between the beginning of the April to and the end of June. [Read more]

SEC shoots down spot bitcoin ETF proposals from NYDIG, Global X

The US Securities and Exchange Commission (SEC) has shot down two spot bitcoin exchange-traded fund (ETF) proposals (NYDIG and Global X) .As has been the case with rejections for other spot bitcoin ETF proposals, the regulatory filings cited a lack of surveillance-sharing agreements and the perceived inability to curb fraud or manipulative practices in the market. [Read more]

Financial Conduct Authority Orders Shut Down of All Bitcoin ATMs in UK

The UK Financial Conduct Authority (FCA) has told crypto automatic teller machine (ATM) operators to shut down their machines or face enforcement action. ATMs that offer crypto exchange services must be registered with the FCA, and also must comply with the UK’s Money Laundering Regulations. “None of the crypto asset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them.” [Read more]