Nigeria’s central bank will explore the adoption of blockchain technology to power a central bank digital currency (CBDC), the potential of stablecoin adoption and regulatory considerations of initial coin offerings (ICOs) over the next two years. These are the key takeaways of a policy document titled Nigeria Payments System Vision 2025, published by the Central Bank of Nigeria (CBN). The 83-page document touches on a variety of implications for its existing payments landscape, with blockchain-based systems coming to the fore. The document delves into the implications of a blockchain-based CBDC, outlining 11 potential advantages of such an offering. This includes …

FTX’s bankruptcy judge has reportedly slammed the joint letter from four United States senators calling for an independent examiner in the FTX bankruptcy case. As reported by Cointelegraph, the senators sent a letter on Jan. 9 highlighting concerns about the ties between FTX and their legal representative, Sullivan & Cromwell LLP. However, in a Jan. 11 hearing, Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware called the letter “inappropriate ex parte communication” which he would not take into account in his decision. “I will make my decisions on the matters based only upon admissible evidence …

The names of up to nine million FTX customers are set to remain confidential for at least three more months following the latest ruling in FTX bankruptcy proceedings. The decision was reportedly made by Judge John Dorsey in the Delaware-based bankruptcy court on Jan. 11 in response to a 168-page filing by FTX on Jan. 8 which requested the court to withhold confidential customer information. Judge Dorsey said that he remains “reluctant at this point” to disclose the confidential information, as it may put creditors “at risk,” despite increased pressure from several media outlets: "We're talking about individuals here who …

El Salvador has passed landmark legislation providing the legal framework for a Bitcoin-backed bond — known as the “Volcano Bond” — which will be used to pay down sovereign debt and fund the construction of its proposed “Bitcoin City”. The bill passed on Jan. 11 with 62 votes for and 16 against, and is set to become law after it is ratified by President Bukele. #Plenaria90✍ Con 62 votos a favor, creamos la Ley de Emisión de Activos Digitales. pic.twitter.com/g1poXwLoH3 — Asamblea Legislativa (@AsambleaSV) January 11, 2023 The National Bitcoin Office of El Salvador announced the passage of the bill …

The Commodity Futures Trading Commission (CFTC) has begun the process of getting a default judgment in its case against Ooki DAO after the latter missed the deadline to respond to the lawsuit. According to a Jan. 11 court filing, the regulator has requested the court for an "entry of default" against the decentralized autonomous organization (DAO), stating it had missed the deadline to "answer or otherwise defend" as instructed by the summons. If approved, the entry of default will establish Ooki DAO has failed to plead or defend itself in court and will no longer be able to answer or …

The City of London has teamed up with a variety of trade associations to form the UK Forum for Digital Currencies, an alliance that will advocate for “better policies, practice and regulation around digital currencies,” according to a statement released by the five members. Besides the City of London Corporation, the city’s municipal governing body, members of the forum include the Digital Pound Foundation, the Payments Association, CityUK and UK Finance. The latter three organizations are national financial and professional advocacy groups that have previously been engaged in crypto research and advocacy. The forum members will collaborate on an industry-wide …

When the new licensing program that is scheduled to take off in June arrives, retail traders in Hong Kong will be limited to “highly-liquid” digital assets, according to the new CEO of Hong Kong's Securities and Futures Commission (SFC), Julia Leung Fung-yee. At the recent Asia Financial Forum, Leung reportedly pointed out that many digital asset platforms have thousands of products. However, the SFC executive highlighted that they are not planning to "allow retail investors to trade in all of them." Instead, the SFC will set up a criteria that allow retail traders to only trade major virtual assets. While …

The crypto community woke up to another drama-filled day after the Digital Currency Group (DCG) chief's reflection went wrong. DCG chief Barry Silbert penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing FUD around the company. DCG is the parent company of Genesis Global Capital, a crypto lending firm and Grayscale, the world’s leading crypto asset manager. In the letter, Silbert addressed the growing issues around DCG and its subsidiaries owing to the bear market and FTX contagion. He said that bad actors and the implosion of leading crypto …

The cryptocurrency exchange Zipmex is the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of local rules. A Bloomberg report revealed that local authorities are looking into an activity that they believe may be in violation of business rules for digital asset service providers. This includes its offerings of certain digital asset products According to the Thai SEC, Zipmex has until Jan. 12 to clarify whether it has been functioning as a “digital-asset fund manager without permission” in Thailand. If true, the firm would have needed to obtain a permit prior …

Argentina’s Ministry of Economy, the country’s economic policy manager, has drafted a bill to encourage Argentines to declare their cryptocurrency holdings with the inducement of discounted tax rates. Aimed at combating money laundering, the “Externalization of Argentine Savings” draft law was introduced by economy minister Sergio Massa according to a Jan. 6 report by local outlet Errepar. The bill would require crypto holders to produce an affidavit — a sworn statement identifying the whereabouts of their holdings to the government. The bill proposes tax incentives to encourage citizens to declare their holdings. Those who voluntarily declare their holdings within 90 …

Bankrupt crypto lender Voyager Digital received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion amid a national security probe Voyager is seeking to speed up. On Jan. 10, United States Bankruptcy Judge Michael Wiles allowed Voyager to enter into the asset purchase agreement and seek creditor approval, but the sale will not become final until a future court hearing, according to a Jan. 11 Reuters report. It comes as Voyager wants to expedite a review of its proposal to sell assets to Binance.US which could result in the deal being blocked or delayed. …

Fight for the Future, a digital rights advocacy group, has posted an open letter on its website encouraging the new class of United States congresspeople to protect privacy. The letter has attracted dozens of companies and organizations as cosigners. “Increasingly, the incredible creative power of US software developers is being chilled by clumsy, misguided legislative and regulatory actions,” the authors of the letter wrote. This is in spite of the fact that the First Amendment to the U.S. Constitution protects code as speech, the letter added, and that was why many technologies to protect privacy were created in the United …