The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react.
A new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi’s free economic zone to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa and Asia regions. The Middle East, Africa & Asia Crypto & Blockchain Association will aim to facilitate regulatory solutions, create commercial opportunities and invest in education to support industry growth.
is “not in the national interest” of the U.S because the risks of the possible issuance outweigh the benefits. As the company, owned by 23 banks and payment companies, has written in its letter to a Treasury Department, “the foundational requirements in place to prevent criminal and illicit use of commercial bank money must be applied to a U.S. CBDC” should it become a reality.
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