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Illinois Implements Licensing System for Cryptocurrency Operations

Illinois is currently working on implementing its own cryptocurrency licensing system, following in the footsteps of New York's "BitLicense" system. This system aims to facilitate cryptocurrency trading within the state, as well as to protect consumer rights and ensure that cryptocurrency companies operate legally. This...

JPMorgan Boss Jamie Dimon Warns of Something ‘Far More Concerning’ Than Recession

The CEO of JPMorgan Chase, Jamie Dimon, talked about something worse than an economic recession Tuesday at Saudi Arabia’s Future Investment Initiative conference in Riyadh, an annual event sometimes dubbed “Davos in the Desert.” Approximately 400 American executives are attending the conference along with...

UK Policymakers Vote for Regulating Crypto as Financial Instruments

In the same week that the UK got another new prime minister, policymakers decided to recognize crypto assets as financial instruments. A ray of light for the crypto industry has emerged amidst all the recent economic and political turmoil in the United Kingdom. Parliament convened on...

UK Conservatives Selects crypto bull Rishi Sunak As Next Prime Minister

Liz Truss will soon be succeeded as Prime Minister by Rishi Sunak, a former UK Finance Minister and well-known crypto-bull. Sunak wants to make stablecoins a "recognized form of payment" in the UK and establish a "financial infrastructure sandbox" to encourage companies to innovate in...

FDIC to Offer Guidance on Crypto After it Understands its Associated Risks

Martin Gruenberg, the acting Head of the Federal Deposit Insurance Commission (FDIC) has assured that banking regulators in the United States will be responsible for providing adequate guidelines to financial institutions on how to deal with digital currencies. Speaking at the Brookings Institute on Thursday,...

Nirmala Sitharaman reveals India’s plan to develop standard operating procedures (SOPs) for cryptocurrencies during its presidency of the G20 Group

Sitharaman previously called for global cooperation to decide on the future of encryption and was wary of embracing mainstream encryption, citing financial stability risks. However, speaking to local Indian reporters on October 15, she stressed that "this (encryption) will also be part of something...