In a speech at a conference on finance tokenization, François Villeroy de Galhau, governor of the Banque de France, said the bank is working on a series of CBDC projects.
He said two of them will focus on boosting cross-border payments through work on interoperability between CBDCs, such as a liquidity management tool based on decentralized finance technology. A third will help use central bank money as a safe settlement asset for tokenized securities.
Villeroy also said the falling appetite for cryptocurrencies isn’t an excuse for authorities to drag their feet on new regulations, Bloomberg wrote.
He said there’s no reason for “complacency or inaction,” and while Europe has made strides on regulatory framework, other major jurisdictions haven’t gotten as far.
In other news, Revolut has gotten registration to offer crypto services in the U.K., Coindesk wrote, citing a FCA news release on various companies added to the register.
Revolut has offered services in the U.K. before, but only under the FCA’s temporary registration regime, or TRR, set up to let firms operate while applications were being reviewed.
Meanwhile, Brett Harrison, the president of crypto exchange FTX, has said on Twitter that he’s stepping down.
He didn’t share what his next moves would be in his Tweet thread. However, he noted how the cryptocurrency industry was “at a crossroads” and there would be much to be seen about the friction in the market as larger players enter and more fragmentation and complexity occurs with the technology.
Also, the European Securities & Markets Authority (ESMA) has said there’s not a likely need for more regulation for a pilot regime for market infrastructures based on distributed ledger technology (DLT), a study said.
The DLT pilot will look into settlement and trading for that type of technology.
ESMA sought feedback on the matter earlier in the year, and does find it important to recommend certain measures to ensure integrity, completeness, consistency and usability of the data.
In other news, Celsius Network CEO Alex Mashinsky has resigned, a press release said.
“I believe we all will get more if Celsians stay united and help the UCC with the best recovery plan,” he said. “I remain willing and available to continue to work with the Company and their advisors to achieve a successful reorganization.”
Additionally, The California Department of Financial Protection and Innovation (DFPI) has reportedly issued desist and refrain orders against 11 entities in California for allegedly offering and selling unqualified securities, a press release said.
One of them also reportedly made “material misrepresentations” and omissions to investors. Nine of them solicited funds from investors to reportedly trade crypto assets on the investors’ behalf, the release said.
In more crypto news, FTX will be moving its U.S. headquarters to Miami, according to a Tweet from CEO Sam Bankman-Fried.
Coindesk wrote that the move comes just four months after FTX opened a Chicago headquarters, which was attended by Mayor Lori Lightfoot.
Finally, Japan’s government will debut new rules for money transfers in hopes of stopping money laundering through cryptocurrency exchanges, Seeking Alpha wrote.
The Act on Prevention of Transfer of Criminal Proceeds will see amendments and now require crypto exchanges to share customer information when they move tokens between platforms.
New PYMNTS Study: How Consumers Use Digital Banks
A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.
https://www.pymnts.com/connectedeconomy/2022/today-in-the-connected-economy-doordash-unveils-first-credit-card/partial/
