TL;DR Breakdown According to a joint release published by Delta Police and Richmond Royal Canadian Mounted Police (RCMP) on Wednesday, the perpetrators behind these robberies seem to be well-informed about their victims’ heavy investments in cryptocurrency.  In some cases, the criminals have already been successful in gaining entry into their victims’ homes by assuming various false identities, such as delivery persons or individuals with authority. Description Canadian law enforcement has issued a public warning in response to a concerning trend of home invasion-style robberies targeting large crypto investors in the country. According to a joint release published by Delta Police and Richmond Royal Canadian Mounted Police (RCMP) on Wednesday, the perpetrators behind these robberies seem to be well-informed about their victims’ … Read more Canadian law enforcement has issued a public warning in response to a concerning trend of home invasion-style robberies targeting large crypto investors in the country. According to a joint release published by Delta Police and Richmond Royal Canadian Mounted Police (RCMP) on Wednesday, the perpetrators behind these robberies seem to be well-informed about their victims’ heavy…

TL;DR Breakdown China’s digital yuan has achieved approximately $250 billion in transactions within 1.5 years. Despite its impressive numbers, the digital yuan’s adoption remains relatively low, representing only 0.16 percent of the total yuan in circulation. The People’s Bank of China is actively exploring ways to expand the functionality and international reach of the digital yuan. Description China’s digital yuan has made impressive strides since its experimental debut 1.5 years ago, with transactions totaling approximately $250 billion, according to the People’s Bank of China governor Yi Gang. Revealing these impressive figures at a conference in Singapore, Yi Gang announced that the total translation volume had reached a staggering 1.8 trillion, with over … Read more China’s digital yuan has made impressive strides since its experimental debut 1.5 years ago, with transactions totaling approximately $250 billion, according to the People’s Bank of China governor Yi Gang. MAS is honoured to have Dr Yi Gang, President of China Society for Finance and Banking as the speaker for the MAS Lecture 2023. Dr Yi spoke on “CBDC from China’s perspective”. Find out more…

TL;DR Breakdown Big Tech is facing intense scrutiny from U.S. antitrust regulators. The Biden administration has challenged numerous mergers and acquisitions, particularly in the tech sector. Despite some legal defeats, new guidelines have been published to regulate potential monopolies. Description Bracing for a storm, Big Tech faces an uneasy future as the U.S. antitrust enforcement agenda gains momentum. President Joe Biden’s administration continues to scrutinize mergers and acquisitions, underlining the growing skepticism towards large-scale deals, particularly within the technology sector. The hard stance on Big Tech’s mergers and acquisitions Over the years, corporate amalgamations have … Read more Bracing for a storm, Big Tech faces an uneasy future as the U.S. antitrust enforcement agenda gains momentum. President Joe Biden’s administration continues to scrutinize mergers and acquisitions, underlining the growing skepticism towards large-scale deals, particularly within the technology sector. The hard stance on Big Tech’s mergers and acquisitions Over the years, corporate amalgamations have become a formidable tool in the arsenals of tech giants. Yet, under Biden’s administration, regulatory forces have exhibited an uncompromising stance, challenging an unparalleled number of mergers….

TL;DR Breakdown The U.S Federal Reserve is set to launch FedNow, a service allowing real-time fund transfers 24/7. FedNow will partner with 41 banks and 15 service providers initially, including major and community banks. The system allows direct settlements in central bank accounts, different from intermediary services like PayPal. Description The much-anticipated FedNow service, the product of the U.S. Federal Reserve’s painstaking endeavors, is primed for an imminent launch. Positioned to revolutionize the United States payment system, FedNow promises instant fund transfers 24/7 for all Americans. This major leap forward aims to streamline transactions and put an end to the multi-day waiting period that’s been … Read more The much-anticipated FedNow service, the product of the U.S. Federal Reserve’s painstaking endeavors, is primed for an imminent launch. Positioned to revolutionize the United States payment system, FedNow promises instant fund transfers 24/7 for all Americans. This major leap forward aims to streamline transactions and put an end to the multi-day waiting period that’s been a bottleneck in domestic financial exchanges. Bringing real-time payments to the forefront FedNow’s conception dates back to…

TL;DR Breakdown Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon.  Amani spoke to journalists about the company’s future plans, emphasizing that the Company will not be launching any stablecoins but rather shifting its focus toward other product offerings. Description In light of recent events, Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon. The company made this decision while Kwon remains the principal shareholder of Terra, despite facing possible extradition to South Korea or the United States. Chris Amani, … Read more In light of recent events, Terraform Labs, the blockchain Company known for its stablecoin TerraUSD (UST), has appointed Chris Amani as its new CEO, succeeding the co-founder Do Kwon. The company made this decision while Kwon remains the principal shareholder of Terra, despite facing possible extradition to South Korea or the United States. Chris Amani, an American citizen, has been with Terra since 2021, holding positions as…

TL;DR Breakdown The UK government has rejected a proposal from lawmakers to regulate cryptocurrencies in a manner similar to gambling, arguing that its existing plans are better suited to address the risks associated with events like the collapse of FTX. The UK government highlighted that adopting gambling regulation for cryptocurrencies would significantly deviate from its intended approach, which aligns with the recommendations put forth by global standard-setting bodies. The government cautioned that such divergence in regulation could lead to the crypto industry moving offshore, which is contrary to its goal of fostering the UK as a crypto hub. Description The UK government has rejected a proposal from lawmakers to regulate cryptocurrencies in a manner similar to gambling, arguing that its existing plans are better suited to address the risks associated with events like the collapse of FTX, a prominent crypto exchange. The rejection was outlined in a document published on Thursday, which responded to … Read more The UK government has rejected a proposal from lawmakers to regulate cryptocurrencies in a manner similar to gambling, arguing that its existing plans…

TL;DR Breakdown French AMF officials under Marie-Anne Barbat-Layani pride in their crypto legislation process, adding that they are AMF is “resolutely open to innovation.” French officials argue that MiCA, adapts existing rules for trading in financial instruments, while the SEC  holds onto century-old securities laws. France intends to build on its regulatory success by legislating for a new regime for Web3-style games involving monetizable digital objects. Description Bonjour!! According to recent reports, French officials have taken pride in their crypto-ready legislation, which contrasts with the SEC’s halting enforcement campaign. In addition, French officials are interested in the next iteration of Web3 gaming regulations. In the rapidly evolving crypto landscape, legal matters surrounding digital assets have become a pressing concern for regulatory authorities … Read more Bonjour!! According to recent reports, French officials have taken pride in their crypto-ready legislation, which contrasts with the SEC’s halting enforcement campaign. In addition, French officials are interested in the next iteration of Web3 gaming regulations. In the rapidly evolving crypto landscape, legal matters surrounding digital assets have become a pressing concern for regulatory authorities…

TL;DR Breakdown Kuwait’s Capital Markets Authority (CMA) enforces an “absolute prohibition” on significant cryptocurrency transactions. Municipal authorities in Kuwait are barred from granting licenses to businesses providing virtual asset services. Cryptocurrencies are deemed to carry no legal status or support, and their volatility is driven by speculation. Description Kuwait, a prominent Middle Eastern nation, has made headlines again by implementing stringent measures to combat illicit cryptocurrency-related activities. The Capital Markets Authority (CMA), Kuwait’s primary financial regulator, has taken a decisive stand against using Bitcoin (BTC) and other virtual assets. In a recent circular released on July 18, the CMA reaffirmed its commitment to … Read more Kuwait, a prominent Middle Eastern nation, has made headlines again by implementing stringent measures to combat illicit cryptocurrency-related activities. The Capital Markets Authority (CMA), Kuwait’s primary financial regulator, has taken a decisive stand against using Bitcoin (BTC) and other virtual assets. In a recent circular released on July 18, the CMA reaffirmed its commitment to an “absolute prohibition” of significant cryptocurrency transactions, including payments, investments, and mining. Beyond mere restrictions, the CMA has also…

TL;DR Breakdown Tesla maintains its Bitcoin holdings for the fourth consecutive quarter, signaling a long-term commitment to the digital currency. Despite the increase in bitcoin prices, accounting rules prevent Tesla from recognizing unrealized gains unless the assets are sold. Tesla exceeds market expectations in Q2 2023 with adjusted earnings per share of $0.91 and revenue of $24.9 billion, driving its stock up over 136% year-to-date. Description In an earnings release on Wednesday after the market close, electric vehicle giant Tesla (TSLA) confirmed that there was no change in their Bitcoin holdings for the fourth consecutive quarter. The net value of the company’s digital assets remained steady at $184 million, irrespective of Bitcoin’s market fluctuations. The Bitcoin roller coaster ride Tesla, under … Read more In an earnings release on Wednesday after the market close, electric vehicle giant Tesla (TSLA) confirmed that there was no change in their Bitcoin holdings for the fourth consecutive quarter. The net value of the company’s digital assets remained steady at $184 million, irrespective of Bitcoin’s market fluctuations. The Bitcoin roller coaster ride Tesla, under the…

TL;DR Breakdown China’s Ambassador to Washington, Xie Feng, has warned that China will retaliate against US security measures targeted at the country. The US is working on an investment screening mechanism to limit US money invested in Chinese tech sectors that could assist China’s military. The US is also updating export controls to make it harder for companies like Nvidia to sell AI-related semiconductors to China. Description With rising tensions regarding technology and trade between the United States and China, the latter has sent a clear message to Washington, cautioning against restrictive measures. In the face of growing US scrutiny over foreign investments, particularly in the tech sector, China is prepared to counteract any national security measures levied against it. Ambassador Xie … Read more With rising tensions regarding technology and trade between the United States and China, the latter has sent a clear message to Washington, cautioning against restrictive measures. In the face of growing US scrutiny over foreign investments, particularly in the tech sector, China is prepared to counteract any national security measures levied against it. Ambassador Xie…