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A London-based start-up said it would launch the first fund to track an index of digital currencies such as bitcoin in the coming weeks.
New York’s powerful banking regulator Benjamin Lawsky said that digital currencies like Bitcoin pose a major challenge, but should not be stifled.
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation seen by Reuters.
Fidelity Investments Inc has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase.
Dramatic falls followed by sharp rises followed by more dramatic falls. Crypto-currency exchange markets are giving us all whiplash. With allegations of bad practice leading to investigations into some cryptocompanies, the once booming currency faces uncertain times.
The challenge posed by Facebook's Libra cryptocurrency likely prodded major central banks to set up a new group to study the potential for issuing their own digital currencies.
Finance ministers and central bankers from the Group of Seven advanced economies strongly supported the need to regulate digital currencies, the US Treasury Department said in a statement on Dec 7 after a virtual meeting of the officials.
A rising number of central banks are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements showed.
Japan must swiftly revise laws to allow the central bank to issue a digital currency, a move that could provide a chance to reform the Bank of Japan's existing mandates and enshrine its inflation target, a senior ruling party official said on Oct 12.