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The US Commodity Futures Trading Commission (CFTC) has launched a new phase of its “Crypto Sprint” initiative while lawmakers have slipped an anti-CBDC provision into a “must-pass” defense bill. Acting CFTC Chair Caroline D. Pham said in a statement that the regulator will begin “stakeholder engagement” on all of the recommendations made in a 166-page report released by the President’s crypto working group, and will now take public input from crypto market participants. “The Administration has made it clear that enabling immediate trading of digital assets at the Federal level is a top priority,” Pham said in the statement. “The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange as we implement the President’s directive,” she added.  CFTC To Help Deliver Trump’s Promise To “Win On Crypto...

The Philippine central bank sees the potential of crypto to improve domestic and cross-border payments, but the authority is still negative to crypto as a legal tender. Amid the rising cryptocurrency adoption in the Philippines, the country’s central bank is seeking measures to better protect investors through elevating local crypto awareness. The Philippine central bank, Bangko Sentral ng Pilipinas (BSP), wants to promote crypto education as the authority sees a lot of benefits associated with crypto and blockchain, a BSP representative said in an interview with Cointelegraph. “The BSP’s focus is on virtual assets’ capacity to improve the delivery of financial services, particularly payments and remittances services, as it has potential to provide faster and economical transfer of funds, both for domestic and international setting,” the BSP stated. According to the BSP, crypto adoption in the Philippines has increased over the past few years due to the COVID-19 pandemic. As such, Bit...

Rosalind Project Findings The recently published report from the first phase of the experiment, released by the BIS, revealed that a CBDC could expedite and simplify person-to-person payments, enable the creation of innovative financial products, and reduce instances of fraud. It could also introduce the concept of “programmability” to money. advertisement Also Read: India’s CBDC Pilot Project Update.. These initial findings strengthen the BOE’s case for launching its own CBDC, informally referred to as “Britcoin.” While the BOE has indicated that a CBDC will likely be necessary in the future. The decision will proceed with the technology consultation closing at the end of June and requires the support of the UK Treasury. Read How BoE Was Doubtful Of CBDC In January.. Recommended Articles Crypto Presale Projects For 2023 To Inve...

Also Read: Top Crypto Presale Projects For 2023 To Invest; Updated List advertisement On May 12, 2023, a bill was passed to propose to make it illegal under the Florida Uniform Commercial Code to treat any CBDC as a kind of legal tender. This essentially means Florida became the first state in the U.S. state to initiate legislative action against the implementation of CBDCs on its public. Why CBDCs Are Bad For The US Speaking in a Twitter Spaces that also had Billionaire Elon Musk in participation, the Florida Governor explained how the Biden government plans to weaponize the spending patterns of the people via surveillance of the CBDC s. In his initial remarks, DeSantis said Florida is the first state that said it does not recognize Central Bank Digital Currencies ( CBDC s). Quoting the US Federal Reserve’s stance on CBDC bill, the Governor said the Congress would not authorize the use of CBDC s. “I don’t think Congress would autho...