Sweden’s Central Bank Finally Embraces DLT, but Only in Simulation Mode

Sweden’s central bank will soon trial a blockchain-based digital currency – but it’s still in its very early stages, at best. Announced Thursday, Sveriges Riksbank’s e-krona pilot is the latest attempt at a central bank digital currency (CBDC) from an institution that for years fretted over basing any such project on distributed ledger technology (DLT). […]

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LabCFTC Wants to Meet FinTech Startups in New York

LabCFTC, the U.S. Commodity Futures Trading Commission’s (CFTC) financial technology experimentation branch, is holding office hours on April 1, asking local companies to ask questions, discuss issues or present their projects. The CFTC announced Tuesday that participants can register for the office hours by emailing LabCFTC@cftc.gov (email subject line should say “NYC Office Hours”) “Office […]

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Craig Wright ‘Abusing’ Privilege to Block 11,000 Documents, Kleiman Lawyers Say

Lawyers representing the brother of Craig Wright’s deceased business partner have accused the Australian entrepreneur of “abusing” client-attorney privilege to withhold documents and “obfuscate” trial proceedings. In a memorandum filed Sunday at the Southern District Court of Florida (see below), the legal team representing Ira Kleiman – who is suing for $10 billion in bitcoin – […]

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USA vs. Virgil Griffith: What We Know (and Don’t) in the Bombshell Crypto Sanctions Case

Prosecutors appear to have a strong case against Virgil Griffith, the ethereum developer charged with conspiring to aid North Korea, legal experts say. For one thing, the mere act of giving a presentation in Pyongyang might have violated the U.S. Treasury Department Office of Foreign Assets Control’s (OFAC) sanctions, depending on what he said there, […]

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WisdomTree Mulls New Stablecoin as US Money Manager Drives Toward Crypto

WisdomTree, an asset manager specializing in exchange-traded funds, is vying to become one of the first established U.S. financial firms to offer clients digital assets, including a so-called stablecoin whose value is closely linked to the U.S. dollar.  New York-based WisdomTree, which oversees about $63 billion, views cryptocurrencies and digital assets as a natural extension […]

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LedgerX Names Former Chief Tech Officer as New CEO

LedgerX announced Friday co-founder and former chief technology officer Zach Dexter has been named the new chief executive of the bitcoin derivatives company. The company suspended CEO Paul Chou and COO/CRO Juthica Chou last month, with no explanation. The two were also co-founders of the company. Depository Trust and Clearing Corporation vice chairman Larry Thompson […]

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Former Bakkt CEO to Help Oversee CFTC in Congress

The former chief executive of bitcoin derivatives exchanges Bakkt is to join the committee that oversees the Commodity Futures Trading Commission (CFTC), raising concerns of a possible conflict of interest. The newly appointed senator, Kelly Loeffler (R., Ga.), will serve on the Senate Agricultural Committee, which is responsible for defining the CFTC’s remit and approving […]

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Digital Currencies Won’t Replace US Dollar Any Time Soon: IMF Chief Economist

The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” […]

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South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance

Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea. In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed that the government could move to bring cryptocurrencies into the mainstream of finance through a number of measures, including derivatives. […]

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