If a crypto firm starts acting like a bank, it should be regulated like one, which won’t be easy, said Andrea Enria, chair of the supervisory board at the European Central Bank (ECB), during a Wednesday interview with four European Union media outlets.

“Crypto and stablecoins are very different assets. They’re not used and they will not be used in the foreseeable future for payments. That’s impossible. They are too volatile. They are too costly… So there is no danger, in my view, that crypto-assets may compete with payments,” he said.

“Europe cannot afford to lag behind in the next digital revolution nor can we repeat past mistakes,” said Pablo Arias Echeverría, the rapporteur shepherding the initiative through the parliament. “As we step into Web 4.0 with the development of virtual worlds, we have to lay a foundation, rooted in strong EU digital rules, guiding principles and values. Europe has to lead this transition, placing citizens at the heart of our digital future!”

“I believe it is our responsibility – not only the central bank’s, but also the financial industry’s – to be ready to ensure that a service which is key to society’s well-being, as the payment system is, does not come under threat. Therefore, and irrespective of the decision which is ultimately made, I believe that all the Eurosystem’s past and future efforts are fully warranted,” Hernández de Cos said.

“We are running our consultation in parallel. We intend to combine your feedback with developments coming out of the BCBS. This will help us articulate public disclosure expectations appropriate for banks and insurers in Canada,” the OSFI said.

Trading on the platform will stop Dec. 4, and the company urged customers to complete “all necessary transactions” by then, after which only withdrawals will be available. The exchange, which is regulated in Lichtenstein and Bermuda, did not give a reason for the decision.

Around 3 billion yen ($20 million) worth of tokenized securities will be issued by real estate firm Ichigo Owners, according to an SBI Holdings press release. The Ichigo Residence Token will be invested “in six highly convenient rental residential properties with excellent access to the city center, and is expected to be the largest issue price ever for an Ichigo Group security token,” the statement said.

MAS’ Orchid Blueprint sets out the technology infrastructure required for digital money transfers in the future, and a new set of four trials involving industry players looks to test various components. One, looking at tokenized bank liabilities for retail payments, will first be trialed at the Singapore FinTech Festival 2023, happening now, according to the bank.

“The imposed security measure of confiscation of the objects of the commission of the criminal offense – passports and identity cards – was necessary in order to arrest the perpetrators. prevented them from committing criminal acts in the future,” it added.

“If appropriately designed, CBDC has the potential to improve payment systems and support a role for central bank money even as other digital payment solutions proliferate. But the appropriateness of CBDC will vary with country circumstances. Given the complexities and the novelty involved, policymakers need to explore CBDC carefully and systematically,” the IMF paper said.

“It is planned to complete the full implementation of the digital tenge by the end of 2025 by expanding its services, usage scenarios and the environment of platform participants,” the announcement said.

“Now that we have been granted the license, we have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” Dr. Jörg Oliveri del Castillo-Schulz, chief operating officer of Commerzbank said in a press statement.

“Country authorities wishing to introduce CBDCs may need to think a little more like entrepreneurs. Communication strategies, and incentives for distribution, integration, and adoption, are as important as design considerations,” Georgieva said.

“Hex Trust is fully committed to expanding into the Middle East and sees enormous potential for digital asset growth given the progressive regulations, welcoming governments, and thriving crypto ecosystem in the region,” Filippo Buzzi, Hex Trust’s MENA regional director, said in a press statement.

Friday’s legal complaint filed in Delaware targets Bybit Fintech Ltd., its investment arm Mirana and several individuals, including Mirana executive Sean Tan. It alleges the investment unit “received gross transfers from FTX.com of digital assets currently valued at approximately $838 million,” of which about $500 million were transferred in the days before FTX halted withdrawals on Nov. 8, 2022.

“The 3AC Debtor shall receive an allowed general unsecured claim against Genesis in the amount of $33,000,000 in full and complete satisfaction of the more than $1 billion dollars in claims asserted against each of the Genesis Debtors,” the document said, adding that the agreement will “mutually release each other from liability.”

“It is with a heavy heart that we inform you that due to business and market-related considerations, we have decided not to apply for a Virtual Asset Trading Platform (VATP) license in Hong Kong … At the same time, Bitgetx.hk will permanently withdraw from the Hong Kong market,” the firm said.

“Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals, can begin availing of SEBA Hong Kong’s licensed services from today,” SEBA said.

“Whether in wholesale form – as a type of digital central bank reserve – or retail form – as a digital banknote – it is increasingly clear, at least to me, that these new forms of money will sit at the core of the future financial system,” Carstens said in a speech at a conference on CBDCs in Basel, Switzerland on Wednesday.

“The Information Committee of the Ministry of Culture and Information received a request from the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan with a request to block the Internet resource www.coinbase.com, which violates paragraph 5 of Article 11 of the Law of the Republic of Kazakhstan ‘On Digital Assets in the Republic of Kazakhstan,'” the ministry told the outlet.

Millions of dollars worth of crypto assets have been moved out of official wallets linked to FTX and its trading firm Alameda in the past 24 hours, according to Spotonchain, as the bankrupt exchange labors under court supervision to salvage value and maximize its token holdings.