Blockchain Bites: The SEC’s Chilling Effect on Crypto Development
If it sticks to its October release, the Sand Dollar will likely become the first CBDC to launch anywhere in the world – it has been suggested China won’t launch its own digital yuan initiative until the Beijing Winter Olympics in 2022, CoinDesk’s Paddy Baker reports. The Conference of State Bank Supervisors (CSBS), a coordinating body for state regulators, said the new regime for money service businesses (MSB) will introduce the standards to streamline compliance and enable firms like Coinbase to work across multiple states, instead of going through the time and expense of getting regulated in each and every one, CoinDesk’s Paddy Baker reports.
Quick bites At stake Bitcoin CEO MicroStrategy CEO Michael Saylor spoke with CoinDesk reporter Danny Nelson about his decision to invest nearly half a billion dollars of his firm’s treasury into bitcoin. CoinDesk’s Omkar Godbole reports there is a schism in how crypto markets could react, citing a tolerance of higher inflation as a bullish development for scarce assets like bitcoin and gold.