Already, the drama has sparked debate in Washington about the regulatory reform known as Dodd-Frank that was adopted in the wake of the 2008 crisis and the decision by former President Donald Trump to partially roll it back.
There have been 565 bank failures in the United States since the start of the millennium, which is surprisingly common.
Whilst many bank failures followed the 2008 financial crisis, they have also happened during times of relative calm. Almost two banks failed per month between 2011 and 2020.
Now the blame game has begun.
The new framework aims to strengthen Singapore's existing crypto regulatory landscape and ensure the safety and security of digital token activities within the country.
The regulations require VASPs to register with the FSC by the end of September 2025, meet capital requirements, and implement customer protection measures. Additionally, the FSC plans to introduce a special law governing cryptocurrencies.
This phase will involve 11 firms testing applications related to the settlement of tokenized assets, programmability, and offline payments.
The inspections aim to detect illegal activities and protect investors. Several exchanges are under scrutiny, and the FSS has warned that more may face investigation.
The BRICS nations, led by China and Russia, are accelerating efforts to reduce reliance on the US dollar in global trade and finance. Cryptocurrencies and blockchain technology are emerging as key tools in this de-dollarization push, even as BIS officials are considering nixing the mBridge project.
DWF Labs partner Eugene Ng tweeted "today's gonna be a good day" just hours before allegedly spiking a potential hire's drink and inviting her to his suite
Coinbase partners with Visa to allow eligible US and EU users to fund accounts instantly and buy crypto via Visa debit cards, 24/7 access
The MPI license would enable Gemini to further solidify its position in the region and cater to the increasing demand for secure and regulated digital asset services.
