Analysis
Regulation
EU watchdog does not deem crypto link to TradFi ‘significant’ to pose systemic risk yet
The ESRB made the statement in its latest report on the "systemic implications" of crypto and the policy options to deal with them.
CBDCs
ECB’s Panetta deems digital euro necessary to ensure central bank money dominance
Fabio Panetta said the digital euro could be launched within three to four years if all member states agree to do so.
Adoption
Mastercard’s crypto head stresses security, simplicity for blockchain’s full potential
Dhamodharan said that once these issues are resolved, brands and companies would become much more confident about engaging with the web3 industry.
Regulation
Prometheum becomes first crypto company to be approved by SEC, FINRA as special-purpose broker-dealer
Prometheum Ember Capital has secured approval to become a "qualified custodian" for digital assets considered securities by the SEC.
Regulation
Global securities watchdog urges governments to regulate crypto like traditional financial assets
The International Organization of Securities Commissions published 18 core recommendations for countries to help them develop or adapt regulatory policies for the crypto industry on May 23.
Legal
Philippines SEC says Gemini’s derivatives exchange is operating without approval
Gemini launched its non-US derivatives platform Gemini Foundation in May, with the Philippines listed as one of the supported regions.
Analysis
Market volatility spikes after Powell hints Fed could slow rate hikes amid banking stress
Powell said that "developments" in the banking sector are resulting in tighter credit conditions which will likely impact economic growth and inflation.
Adoption
Scaramucci says market’s ‘overshot to the downside’ after FTX collapse is causing BTC to trade at huge discount
SkyBridge founder Anthony Scaramucci believes the flagship cryptocurrency's intrinsic worth is currently undervalued and predicts explosive returns as adoption grows.
Crime
FATF head urges G7 to bring order to ‘lawless crypto space’
FATF head T Raja Kumar said combatting illicit digital financial flows requires "concerted global action."
Bankruptcy
Celsius withdraws over $800M stETH staked on Lido Finance following upgrade
The Celsius Network wallet holding $800 million in stETH began requesting withdrawals in chunks of 1000 stETH at roughly 4:45 pm GMT.
CBDCs
ECB believes digital euro is necessary despite lukewarm response from banks, consumers
The ECB believes the eurozone needs its own "risk-free asset" that can compete with other payment systems and the only option is for the ECB to issue its own digital currency.
Regulation
Hedge fund billionaire Paul Tudor Jones says ‘Entire US regulatory apparatus is against Bitcoin’
Jones said Bitcoin has a "real problem" in the U.S. and may not be as popular in the coming months compared to the last few years.