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Finance Minister said that as long as the non-governmental activity of the crypto assets was through unhosted wallets, the regulation was going to be very difficult.
What Do We Mean by Private Digital Money? Introduction This article is the third in a multi-part series that explains how the SEC has structured its anti-cryptocurrency campaign and over-reached its regulatory authority in shutting down cryptocurrencies or private digital money (“PDM”). Part I discussed some of the sleights of hand the SEC has used in its anti-cryptocurrency efforts and the sources for its claim of jurisdiction. Part II reviewed the SEC’s early history with PDM and steps taken in its suppression-by-regulation program. Part III revisits the term “private digital mone...
Updated December 21, 2020 at 1:29pm EST As more countries issue or develop central bank digital currencies (CBDC), the prospect of a digital currency as part of mainstream finance is increasingly becoming a reality. How will the digital currencies affect the international reserve ecosystem? A recent paper by the International Monetary Fund (IMF) seeks to provide the answer to that question. This year’s pandemic has already hastened the move toward a reconfiguration of the international reserve system. “COVID-19 could alter the global economic landscape … trigger strategic shifts in rese...