The collapse of FTX, and the fact that its failures were more organisational than technological, highlights the importance of properly regulating the crypto sector, says Bank of England deputy governor Jon Cunliffe.
Source: Consensys
This afternoon at COP27, the world’s largest gathering on climate action, a group of Web3 companies convened by ConsenSys and Allinfra, joined civil society leaders and the UNFCCC Climate Innovation Hub, to announce the creation of the Ethereum Climate Platform (ECP).
The US Department of the Treasury has called for greater regulation of fintech-bank partnerships in order to prevent abuses and protect consumers.
Some of the biggest names in the US banking industry are coming together on a proof of concept for a regulated digital asset settlement platform.
Source: IFTA
India FinTech Forum, a not for profit fintech advocacy group representing Indian fintech companies, has announced 23 fintech startups who will give demos of their innovative products and services to a high profile jury this month.
The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.
Binance says it will not go ahead with plans to buy FTX, citing the results of due diligence and reports of US regulatory investigations into its rival crypto exchange.
Central bank digital currencies (CBDCs) do not pose a threat to cryptocurrencies and would actually help build trust among sceptics by validating the underlying blockchain technology.
