Brazil’s central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin or other cryptocurrencies to settle overseas remittances. BCB Resolution No. 561, published April 30, updates rules for eFX, Brazil’s regulated system for digital international payments, purchases, withdrawals and transfers. The rule takes effect October 1, with adaptation deadlines running into 2027. […]
A New York judge has rejected a joint request from the U.S. Securities and Exchange Commission (SEC) and Ripple Labs for her to approve a proposed settlement agreement that would slash Ripple’s civil penalty to $50 million and dissolve the permanent injunction against the firm. It is the proposed removal of the permanent injunction, and […]
Confidential protocols put in place to deal with news of regulatory failings by one of the top-five crypto exchanges, OKX, suggest that the company likely has been expecting a settlement with U.S. authorities for some time. This happened on Monday when OKX announced a $500 million-plus settlement with the U.S. Department of Justice after failing […]