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Latest from Camomile Shumba
Nigeria Picks Bola Tinubu as President Amid Cash Shortages
Tinubu will replace Muhammadu Buhari, whose government issued the eNaira and banned banks from interacting with crypto firms.
Ohio Joins $22.5M Multistate Settlement Against Crypto Lender Nexo
The North American Securities Administrators Association and the U.S. Securities Exchange Commission announced the settlement in January.
Certain Banks' Crypto Exposure Dropped by 44% Globally in 2022 From Previous Year: BIS
The Basel Committee on Banking Supervision endorsed in December rules that a bank's exposure to certain cryptocurrencies must not exceed 2%.
UK Banking Regulator to Propose Rules on Issuing, Holding Crypto
The U.K. government recently released a consultation on regulating the industry and a potential central bank digital currency.
FATF Agrees on Action Plan to Drive Implementation of Global Crypto Norms
The global financial crime watchdog's plenary, made up of 206 members including observer organizations like the UN, also agreed to take stock of what jurisdictions have been doing so far.
Why Nigerians Aren't Turning to the eNaira Despite Crippling Cash Shortages
A lack of infrastructure, merchants and interest may all be reasons why more people in the country aren't using the digital currency.
Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BIS
The crypto market lost more than $450 billion after Terra's implosion in May, 2022, and another $200 billion after FTX's bankruptcy in November, the report said.
Many Existing Stablecoins Won’t Meet Forthcoming Global Standards: FSB
The international standard setter's recommendations for regulating crypto and stablecoins are set to be released in July 2023.
Calm Before the Storm: Is UK’s Financial Watchdog Gearing Up for Enforcement Action?
The Financial Conduct Authority has largely been silent while its U.S. counterparts have been busy cracking down on crypto – but it has a list of 51 unregistered firms to act on.
Global Standard Setters Will Team Up to Tackle DeFi Regulation: FSB
Decentralized finance “does not differ substantially” from traditional finance in its functions or vulnerabilities, according to the Financial Stability Board.
