The Bank for International Settlements is joining with central banks, including those of Canada, Switzerland and the U.K., to study the potential usefulness of central bank digital currencies in local and international business.
Libra, the Facebook-sponsored virtual currency project, named a five-member technical steering committee to guide development of the currency. Among committee members are representatives from the blockchain infrastructure and cryptocurrency custody businesses.
The world’s largest bitcoin mining equipment maker, Bitmain, heads into turbulence as deposed co-CEO Micree Zhan publicly questions the company’s need for upcoming layoffs. Zhan was pushed out by CEO Jihan Wu in October.
Virgil Griffith, the Singapore-based Ethereum developer who was arrested by U.S. authorities in November for violating sanctions against North Korea, will be granted bail and remanded to his parents’ custody in Alabama pending trial.
Bithumb, a major cryptocurrency platform in South Korea, was hit with a tax bill for $70 million from local tax authorities to cover withholding taxes for its foreign customers’ trading profits. According to South Korean law, Bithumb is not permitted to have foreign customers.
Binance signaled that it takes its anti-money laundering policies seriously when it refused to deal with a customer’s wallet that launders cryptocurrency holders’ identities. The customer unleashed a Twitter tirade against Binance.