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“For the first time since taking over the G-20 presidency, India has officially revealed details of the ongoing work around how to regulate crypto. The IMF is working on a paper in consultation with India that will focus on ‘aspects of the monetary policy and the policy approach to crypto assets,’ said Ajay Seth, secretary, Department of Economic Affairs.
There’s going to be a 135-minute seminar on crypto assets on the policy response (during a G-20 meeting later this month) and for that again the IMF is preparing the finalized paper that will form the base.
In terms of next steps for India in shaping global crypto policy, the plan is to take the progress of the IMF paper from consensus at the G-20 to the crypto assets working group of the Financial Stability Board and then to “all countries put together” because crypto is an asset class that can be traded across the board and thus “it requires all countries” to accept the policy.”
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“Currently being tested in private beta, Sberbank’s upcoming DeFi platform will be fully open by the end of April, enabling users to conduct the first commercial transactions, Klimenko said. The executive noted that the blockchain platform will be compatible with the Ethereum blockchain, allowing customers to use major wallets, such as MetaMask, to move their assets.
The blockchain executive stated that Sberbank’s DeFi platform aims to become a prime DeFi ecosystem in Russia. He also expressed confidence that DeFi systems are able to displace the traditional market of banking services.”
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“Emergent Fidelity was the company which held 56 million shares of Robinhood Markets (HOOD) stock, an asset that quickly became a subject of key interest among several companies for the value it could bring FTX creditors. The shares were also pledged as collateral to bankrupt crypto lender BlockFi, which placed its own claim last year. Nevertheless, federal officials moved to seize control of the assets in January.
Those 56 million shares of Robinhood are worth more than $600 million at today’s closing price. Bloomberg reported the only other asset owned by Emergent Fidelity was $20.7 million in cash. Bankman-Fried is the owner of 90% of Emergent Fidelity, and with FTX co-founder Wang owning the remaining 10%.
Emergent Fidelity’s bankruptcy filing could not immediately be obtained. It is unclear what debts Emergent is claiming at this time.”
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“The U.K. Court of Appeal ruled that a claim by Craig Wright’s Tulip Trading against 16 Bitcoin developers should go to trial in London. The trial is expected in early 2024.
The claim alleges that the developers owe “fiduciary duties” and “duties in tort” to re-write or amend protocol code in order to give Wright access to 111,000 bitcoin (BTC) from two wallets whose private keys were allegedly stolen and subsequently erased in a hack. His ownership of those coins is contested.
Wright contends that Bitcoin developers can easily change the protocol’s code in order to return the keys to those funds to him. Last year, Wright’s other company, nChain, developed a blacklist manager for the Bitcoin SV network (BSV). The tool allows users to freeze and confiscate BSV coins.”