FCA will ‘absolutely’ consider recent stablecoin depegging when drafting crypto rules: Report

fca-will-‘absolutely’-consider-recent-stablecoin-depegging-when-drafting-crypto-rules:-report

The United Kingdom’s Economic and Finance Ministry announced in April that it would work to incorporate stablecoins into a regulatory framework on digital assets. Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when … Read more

Panama’s president says he won’t sign crypto bill into law ’at this moment’

panama’s-president-says-he-won’t-sign-crypto-bill-into-law-’at-this-moment’

“If the law has clauses related to money laundering activities — Anti-Money Laundering activities — that’s very important for us,” said Panama President Laurentino Cortizo. Laurentino Cortizo, the president of Panama, has said he won’t sign off on a crypto bill recently approved by the country’s National Assembly without additional Anti-Money Laundering rules. Speaking at … Read more

Biden’s pick for Fed vice chair for supervision calls for congressional action on stablecoins

biden’s-pick-for-fed-vice-chair-for-supervision-calls-for-congressional-action-on-stablecoins

Fed nominee Michael Barr said that the government agency potentially releasing a central bank digital currency was an issue that required “a lot more thought and study.” Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the … Read more

SEC chair uses crypto enforcement in justification for FY2023 budget

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“We’re not trying to grow really significantly, but resources to grow at least six percent to grow our enforcement arm in this space,” said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year. In … Read more

2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

2-key-ethereum-price-metrics-suggest-traders-will-struggle-to-hold-the-$2k-support-level

ETH bulls are aiming to flip $2,000 back to support, but these two metrics point toward further downside. Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets … Read more

Global financial regulators will discuss crypto at G7: Report

global-financial-regulators-will-discuss-crypto-at-g7:-report

Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators. Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of … Read more

US federal judge approves of Justice Dept criminal complaint on using crypto to evade sanctions

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An unnamed individual allegedly sent more than $10 million in Bitcoin to an exchange in a country for which the U.S. currently imposes sanctions. The United States Department of Justice may move forward on a criminal prosecution case against a U.S. citizen who allegedly violated sanctions through cryptocurrency. According to a Friday opinion filing in … Read more

California regulator will revisit long-running ban on crypto donations on May 19

california-regulator-will-revisit-long-running-ban-on-crypto-donations-on-may-19

“This has been on our radar since late last year,” said California’s Fair Political Practices Commission communications director Jay Wierenga. A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018. According to its May 2022 agenda, California’s Fair Political Practices Commission, … Read more

Bitcoin bulls aim to flip $30K to support, but derivatives data show traders lack confidence

bitcoin-bulls-aim-to-flip-$30k-to-support,-but-derivatives-data-show-traders-lack-confidence

The BTC futures premium flashed a slightly positive reading, but options markets show extreme fear from whales and market markers. Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to … Read more

Digital euro could come as soon as 2026 — ECB official

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Commenting on the recent market volatility, Fabio Panetta also said stablecoins were still “vulnerable to runs,” just as investing in cryptocurrencies carried certain risks. Fabio Panetta, an executive board member of the European Central Bank, or ECB, has said that a digital euro could come within four years, potentially designed with a person-to-person payment solution. … Read more