Russia’s central bank and Rosfinmonitoring pilot a new system to trace connections between crypto transactions and fiat operations. The Bank of Russia alongside Rosfinmonitoring, the country’s main body for financial intelligence, is working on a platform to detect connections between fiat operations and crypto transactions amid efforts to evaluate the size of the local crypto market. According to a report from...
The SEC is anticipated to deny applications for spot Ethereum ETFs following discouraging meetings with issuers. The U.S. Securities and Exchange Commission (SEC) is expected to reject applications for spot exchange-traded funds (ETFs) tied to the price of Ethereum, the second-largest crypto by market value. According to a Reuters report, U.S. financial firms don’t expect spot Ethereum...
Nigeria’s central bank denies false claims made by crypto media, asserting that it didn’t mandate local banks to freeze accounts associated with unlicensed crypto exchanges. The Central Bank of Nigeria (CBN) says it didn’t order local financial institutions to freeze accounts linked to unlicensed crypto exchanges after reports surfaced alleging such directives. In an X post, the...
New Zealand’s central bank has started exploration into launching a central bank digital currency, with ongoing investigation projected until approximately 2030. The Reserve Bank of New Zealand is now exploring the introduction of a central bank digital currency (CBDC) also known as “digital cash,” as innovations in money and payments are “challenging New Zealand’s monetary sovereignty,” according to...
U.S. SEC Enforcement Director Gurbir Grewal condemned the crypto industry for its “significant lack of compliance.” During the SEC Speaks event, Grewal responded to criticism leveled at the agency over excessive SEC crypto regulation. “We have confronted significant non-compliance and many, many creative attempts by market participants to avoid our jurisdiction, with some claiming that we are making it up as...
