Coinbase breaks bread with Financial Regulators
PLUS: 🏛 Gov-sponsored Crypto Exchanges and ⚖️ Global Regulatory Updates
Headlining…
Most important news of the past week:
🪙 Coinbase settles KYC issue with Financial Regulators, strengthening their internal Compliance Program with $50 million investment.
💸 Wyre (Crypto Payments Co. founded in 2013) shutters doors unexpectedly amidst the Winter slump.
⚖️ SBF pleads, “Not Guilty!” to Fraud and Conspiracy, which may only lengthen trials.
Social Proof…
Key cases of adoption over the past week:
🇮🇩 Indonesia shares plans to launch Gov-backed Crypto Exchange.
Why this Matters: Amidst their regulatory changes for the year to come, Indonesia recently detailed their plan to launch a Crypto Exchange all their own. This comes as they transition oversight for crypto assets from their commodities agency to their Financial Services Authority.
📈 Israeli Financial Regulator proposes update to Financial Laws to include Crypto.
Why this Matters: The proposal details amendments to three existing financial laws. If these are authorized and published by the Israeli Security Authority, the changes could be enacted in just 6 months time.
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