G7 discusses crypto, supports CBDC — Law Decoded, May 15–22

From today onwards, Canadian firms operating with virtual currencies will be legally recognized as Money Service Businesses. 4412 Total views 115 Total shares Cryptocurrency exchanges and payment processors are now legally recognized as Money Service Businesses (MSB) within Canada.June 1 saw the enactment of amendments to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing…

In announcement the appointment, Lummis made clear that she hopes to get digital asset legislation moving. 371 Total views 7 Total shares The most vocally pro-crypto Senator in the U.S. will join the committee responsible for the nation's financial regulation.On Wednesday night, Senator Lummis' team told Cointelegraph that Lummis had received her committee assignments for…

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Europeans are getting more confident about the future of the cryptocurrency industry amid the coronavirus pandemic, according to a new report.People in Europe are becoming more optimistic about the Blockchain space. In 2020, more Europeans believe that crypto will exist in 10 years than ever before, bitFLyer exchange reported on April 29.Amount of crypto believers…

Bitcoin (BTC) dropped several hundred dollars in seconds on Aug. 10 as $12,000 once more proved too hot to handle. Cryptocurrency market daily snapshot Aug. 6. Source: Coin360BTC price finds new focus at $11,700Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.In doing so,…

Bitcoin (BTC) suffered as investors moved a record amount of cash in Federal Reserve's overnight facility after the central bank started paying interest on the money.The U.S. central bank received $756 billion via its reverse repurchase program from nearly 70 market participants on Thursday. The stash is about $172B higher than the one deposited last week…

The World Economic Forum (WEF) has created what it claims is the first ever global consortium dedicated to designing a framework for the transnational governance of digital currencies, including stablecoins.A press release shared with Cointelegraph on Jan. 24 reveals that the newly-formed Global Consortium for Digital Currency Governance will focus on the development of interoperable,…

German automobile brand Mercedes-Benz Car has developed a platform based on blockchain technology to increase transparency and sustainability in complex supply chains, according to press release published on Feb. 25.Mercedes-Benz, a division of Daimler AG, a German multinational automotive corporation, has partnered with United States-based software company Icertis for cooperating in the development of blockchain…

Block Earner CEO Charlie Karaboga said it was a “disappointing outcome” given it had spent “considerable resources” to adhere to existing guidelines. 445 Total views 3 Total shares The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the…