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Aug 11, 2023

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The week has been overflowing with news of regulatory checks and court cases. We take a brief look at the crypto world and technology in general
Rep. McHenry Pushes for Stablecoin Bill following PayPal Move
US House Financial Services Committee Chair Patrick T. McHenry has stressed the urgency for stablecoin regulation after PayPal’s launch.
“This announcement is a clear signal that stablecoins, if issued under a clear regulatory framework, holds promise as a pillar of our 21st century payments system,” McHenry said on Monday in a statement.

McHenry Statement on PayPal Announcing Launch of Payment Stablecoin | Financial Services Committee

McHenry Statement on PayPal Announcing Launch of Payment Stablecoin Washington, August 7, 2023 - The Chairman of the…
financialservices.house.gov

Blockchain.com Obtains Major Payment Institution License in Singapore
Cryptocurrency firm Blockchain.com has secured a payment license in Singapore, advancing its Asian expansion. It said in a statement that the Monetary Authority of Singapore issued the company a major payment institution license on August 1.

Blockchain.com Receives Major Payment Institution License from Monetary Authority of Singapore

PRNewswire/ -- Blockchain.com, one of the world's most trusted and earliest crypto platforms, announced today that it…
www.prnewswire.com

Microsoft and Aptos Partner to Bring AI to Blockchain
Microsoft and Aptos have collaborated to delve into asset tokenization, digital payments, and central bank digital currencies.
Leveraging Microsoft’s AI prowess, Aptos will introduce the user-friendly Aptos Assistant to enhance web3 onboarding and decentralized app development.

Aptos x Microsoft Expanding Web3 Global Access

Aptos Labs is partnering with Microsoft to make web3 accessible on the Aptos network.
aptosfoundation.org

US Fed Steps Up Oversight of Banks’ Involvement With Crypto Firms
The United States Federal Reserve is expanding its oversight program to include U.S. banks that interact with the cryptocurrency and blockchain sector. This move comes as part of the establishment of the Novel Activities Supervision Program by the Federal Reserve Board.

Ex FTX Executive Ryan Salame in Talks for Guilty Plea
Ryan Salame, former senior executive at FTX crypto exchange, is reportedly discussing a potential guilty plea with federal prosecutors.
Bloomberg reports suggest Salame might plead guilty as early as next month, facing charges that include violations of campaign finance laws.

Bitsonic CEO Arrested for Crypto Scam
South Korea’s Bitsonic CEO Jinwook Shin has been arrested for embezzling $7.5M in user funds. Shin has been accused of manipulating crypto prices, mishandling of users’ funds from Jan 2019 to May 2021 and halting operations by August 2021.
In a related development, a new South Korean interagency investigation unit has been established to combat cryptocurrency crimes.

검찰, 암호화폐 거래소 '비트소닉' 대표 구속기소

검찰, 암호화폐 거래소 비트소닉 대표 구속기소 100억원대 투자금·예치금을 빼돌린 혐의로 검찰 수사를 받던 가상자산 거래소 비트소닉의 대표가 최근 구속돼 재판에 넘겨졌다. 서울동부지검 사이버범죄수사부부장검사…
biz.chosun.com

Bank of England Invites Advisors for Digital Pound Initiative
The Bank of England is taking decisive steps towards its digital pound design phase. They’re forming an Academic Advisory Group, seeking experts in finance, economics, and business to contribute their insights on central bank digital currency (CBDC).

CBDC Academic Advisory Group: Call for interest

The Bank in conjunction with HM Treasury is creating a new Academic Advisory Group to provide expertise during the…
www.bankofengland.co.uk


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