592:CBDCs and Regulations: Switzerland, UK, Singapore, Austria, EU and US
Overnighters,
Episode 592:
EU Digital Asset Regs
Waters Queries Yellen, Gensler
CBDC Alert(Switzerland, Singapore, UK)
and More
Collect the Cover: https://awrd.gg/5759
The TL;DL
CBDC Alert(Switzerland) - The Swiss National Bank (SNB) has announced plans to launch a wholesale central bank digital currency (CBDC) on the nation's digital exchange, SIX. The pilot project, which is set to kick off soon, will involve "real money equivalent to bank reserves" and will be used to test actual transactions with market participants.
CBDC Alert(Singapore) - The Monetary Authority of Singapore (MAS) has proposed a framework for the development of open, interoperable networks for tokenized digital assets. Known as Project Guardian, the initiative involves 11 institutions testing asset tokenization across various financial asset classes.
CBDC Alert(UK) - The Bank of England (BoE) is making significant progress in its development of a central bank digital currency (CBDC), colloquially known as Britcoin. The technology underpinning this digital currency might not be blockchain, as one might expect, and the BoE is considering testing various ledger technologies.
EU’s Digital Assets Regulations - The European Union (EU) has secured a political agreement on new bank-capital legislation that includes cryptoassets. The new rules aim to prevent cryptocurrencies without backing from infiltrating the conventional financial system.
Binance Withdraws from Austria - Binance, a major player in the cryptocurrency exchange market, has withdrawn its license application in Austria under the pressure of the local regulator. This follows similar exits from the Netherlands, Cyprus, and the U.K.
Waters Queries Yellen and Gensler - Maxine Waters, the Chair of the House Financial Services Committee, has reached out to key regulators to facilitate the passage of a crypto-focused bill. The bill aims to provide a clear path for U.S.-based digital asset exchanges to register with the U.S. Securities and Exchange Commission (SEC).
Crypto Overnighter Podcast (6/27/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.
Email: nick@cryptoovernighter.com
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Twitter: https://twitter.com/CryptoCorvus1
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