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Indonesia Expands De-Dollarization Efforts With National Task Force Formation

September 9, 2023 0

Indonesia’s central bank has established a national task force to expand the use of local currency with partner countries. Malaysia, Thailand, Japan, and China are already trading with Indonesia using local currencies. In addition, Singapore and South Korea have signed cooperation agreements to

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Palau Finishes Distribution Phase of Stablecoin Pilot, Organizes Feedback Survey

September 9, 2023 0

Palau is preparing to close the distribution phase of its stablecoin pilot after having extended it for 30 additional days to examine additional use cases and growing popular demand. Palau Ministry of Finance board member Jay Hunter Anson explained that the pilot was a “temporary, research and development pilot,” and that the entity will now […]

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FBI Traces $41 Million Cryptocurrency Theft From Stake.com to Lazarus Group

September 9, 2023 0

The Federal Bureau of Investigation (FBI) says it has confirmed that North Korea’s Lazarus Group was behind the crypto theft of about $41 million from online crypto casino and sports betting platform Stake.com. The FBI has provided a number of Bitcoin, Ethereum, Binance Smart Chain (BSC), and Polygon addresses that received stolen funds from Stake.com. […]

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IMF and FSB Release ‘Policies for Crypto Assets’ at G20 Request

September 9, 2023 0

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have published their synthesis paper titled “Policies for Crypto Assets,” which was developed at the request of the Indian G20 Presidency. The global organizations “have set out a roadmap to ensure effective, flexible, and coordinated implementation of the comprehensive policy response for

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Tether Boasts $72.5 Billion US Treasury Exposure as Interest in National Debt Falters

September 8, 2023 0

Tether, the largest stablecoin in the cryptocurrency market, discussed how its leverage of U.S. treasury bills creates a steady demand for U.S. national debt as a backup of the USDT issuance. The company has exposure to almost $73 billion in U.S. debt, held directly, indirectly, or as collateral for reverse repo operations. Tether U.S. Treasury […]

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Binance Boss Counters ‘FUD’ Amidst Legal Challenges, Touts Company’s Resilience and Low Turnover

September 8, 2023 0

Binance has faced a series of negative news reports in recent weeks. However, the cryptocurrency exchange’s leader, Changpeng Zhao, known as CZ, used social media to assure the community that the reports were just fear, uncertainty, and doubt (FUD). Despite the departure of some top executives, CZ said Binance likely has “the lowest founding team […]

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Surge in Digital Asset Management: Study Shows Nearly 50% of Asset Managers Now Handle Crypto

September 8, 2023 0

Close to half of asset managers currently have digital assets under management, according to a new study. Firms large and small are implementing crypto strategies for clients and expanding offerings. Asset Managers Embrace Crypto: 48% Now Manage Digital Assets The study by digital currency data provider Amberdata with Coalition Greenwich finds that 48% of institutional

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Ripple Acquires Crypto Financial Services Company Fortress Trust 

September 8, 2023 0

Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its position in enterprise blockchain solutions. Ripple Acquires Fortress Trust The acquisition provides Ripple with Fortress Trust’s

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LBRY Gears Up to Contest US Securities Law Violation Ruling

September 8, 2023 0

In a recently filed court document, blockchain-based publishing company LBRY has signaled its intent to challenge a New Hampshire district court’s verdict. This ruling, made in November 2022, concurred with the U.S. Securities and Exchange Commission (SEC) stating that LBRY presented its digital assets as securities or investment contracts. Unregistered Crypto Securities

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Biggest Movers: CRO Moves From 3-Month Low, XLM Extends Recent Gains

September 8, 2023 0

Cronos rose for a second consecutive session, as the token continued to move away from a recent three-month low. Volatility in the marketplace was high on Friday, after several days of price consolidation. Stellar also surged, moving to a three-day high. Cronos (CRO) Cronos (CRO) continued to move away from a recent three-month low on […]