The search for higher yields amid rising inflation and falling interest rates, have led investors to take greater risks, exposing a broad section of the market, including crypto, vulnerable to corrections, the European Central Bank (ECB) said.The ECB acknowledged that cryptocurrencies have grown in popularity and relevance, and said that the crypto markets are subject to … [Read more...] about ECB Sounds Alarm Over Linkages Between Stablecoins and Conventional Financial Markets
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IMF sounds ‘legal, economic’ alarms over El Salvador’s Bitcoin adoption
The International Monetary Fund (IMF), a global, intergovernmental economic and financial body, condemned El Salvador’s move to make Bitcoin an official ‘legal tender’ in the country citing economic and legal risks.“Adoption of Bitcoin as legal tender raises a number of macroeconomic, financial, and legal issues that require very careful analysis,” said Gerry Rice, an IMF … [Read more...] about IMF sounds ‘legal, economic’ alarms over El Salvador’s Bitcoin adoption
Chinese province sounds fresh alarm on ‘illegal’ crypto schemes
China’s Hainan province issued a fresh warning about illegal crypto schemes yesterday, adding to what is an ongoing campaign against the growth of the industry in the region.Fresh round of crypto FUDFinancial regulators, as per Reuters, in China’s southern Hainan region cautioned investors against illegal fundraising schemes involving cryptocurrency and blockchain. They used … [Read more...] about Chinese province sounds fresh alarm on ‘illegal’ crypto schemes
Binance Smart Chain sounds alarm over ‘well-organized’ DeFi attacks
Following a series of high-profile, multimillion hacker attacks on several decentralized finance (DeFi) platforms based on Binance Smart Chain, the network has issued an official “call for action” to developers.“There are >8 #flashloan hacks recently, we believe, an well organized hackers (sic) are targeting #BSC now. It is very (sic) challenging time for the BSC communty … [Read more...] about Binance Smart Chain sounds alarm over ‘well-organized’ DeFi attacks
China Securities Journal sounds alarm on financial risks related to Bitcoin and crypto
A broader consensus on strengthening the supervision of Bitcoin and crypto transactions is being formed, as per an opinion piece in the China Securities Journal (CS) on Sunday.The CS has been assigned by China Securities Regulatory Commission, China Insurance Regulatory Commission, and China Banking Regulatory Commission as an exclusive channel for information disclosure, … [Read more...] about China Securities Journal sounds alarm on financial risks related to Bitcoin and crypto