UK Lawmakers Urge Lower Digital Pound Holding Limits

The lawmakers also cautioned against the proposed 10,000- 20,000 British pound ($12,663 – $25,320) holding limit, and instead proposed a lower limit similar to the 3000 euro cap proposed by the EU’s European Central Bank “to reduce the risk of large-scale outflows from bank deposits into digital pounds… with a view to increasing it over time.”

FCA Right to Propose Stop to Marketing Crypto as ‘Inflation Resistant,’ UK Industry Members Say

“Due to bitcoin’s relatively short existence, we have to rely on the fundamental concepts of what it represents as an asset, so theoretically, it being of limited supply while being priced in U.S. dollars, it should act as an inflation hedge,” Butterfill told CoinDesk.

Kim Kardashian EMAX Suit to Proceed as Court Considers Updated Complaint

The case brought by investors against Kardashian, retired boxer Floyd Mayweather Jr. and National Basketball Association Hall of Famer Paul Pierce among others, made headlines last year. The celebrities were accused of misleading investors through the promotion of digital assets tied to EMAX tokens, which are built on top of the Ethereum blockchain but are not tied to the second-largest cryptocurrency by market cap.

International Securities Regulator IOSCO Proposes Norms for Crypto Regulation, Invites Feedback

“As the G-7 Finance Ministers and Central Bank communiqué of 13 May has once again reminded us, the time has come to put an end to the regulatory uncertainty that characterizes crypto activities. Today’s consultation paper received unanimous support from the IOSCO Board and is the outcome of an intense period of regulatory risk analysis, information sharing and capacity building,” said Jean-Paul Servais, chairperson of IOSCO in a statement to the press.

FATF Agrees on Action Plan to Drive Implementation of Global Crypto Norms

“The Plenary thus agreed on a roadmap to strengthen implementation of FATF Standards on virtual assets and virtual asset service providers, which will include a stocktake of current levels of implementation across the global network,” the watchdog said, adding that a report on its findings is due in the the first half of 2024.