Current Chairman of the Federal Reserve Jerome Powell recently revealed that he views the United States central bank as one of the key supporters of innovation in digital financial products. However, in the same breath he warned that certain technologies and innovations, including cryptocurrencies, embody certain risks that need to be addressed before wide spread adoption is possible.
Singapore has added their voice to the global chorus denouncing Russia’s recent invasion of Ukraine, announcing sweeping economic sanctions that will hit several sectors of Russia’s economy including cryptocurrencies.
Biden Administration Creates Task Force ‘KleptoCapture’ To Halt Russian Oligarchs And Their Crypto https://youtu.be/pAy-YTZt8ro The new task force, which brings together units from the FBI, Marshals Service, IRS, Postal Inspection, Homeland Security Investigations and Secret Service describes themselves as, “…an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, exportContinue reading “Biden Administration Creates Task Force ‘KleptoCapture’ To Halt Russian Oligarchs And Their Crypto”
Her Majesty’s Revenue and Customs, more commonly known as HMRC, is the department within the UK Government which is responsible for the collection of taxes, payment of various forms of state support, the administration of other regulatory regimes has seized three non-fungible tokens (NFTs) during an investigation into a suspected value added tax repayment scheme involving a net of 250 allegedly fake companies.
On Thursday, Russia’s Central Bank launched a proposal to ban both cryptocurrency investments and mining, joining in a chorus of governments around the world cracking down on digital currencies while highlighting the various threats cryptocurrencies pose to monetary stability and private citizens.
The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator and it has just taken steps to curb crypto trading by the general public releasing new guidelines for the industry that require immediate adoption. MAS has also taken the step of directing the business sector to abstain from both advertising or showcasing any products relating to cryptocurrencies to Singapore’s citizens citing the high risk environment surrounding crypto as the motivation behind the recent moves.