According to Watcher Guru, Pavel Durov, the Founder and CEO of Telegram, has been released from police custody and is now being transferred to court. The development follows his earlier detainment by French authorities, which has garnered significant attention in both tech and global news circles.
According to Odaily, the NFT marketplace OpenSea has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). A Wells Notice is an informal warning issued by the SEC to publicly traded companies in the United States before initiating civil litigation. Companies that receive such a notice have the opportunity to communicate and negotiate with the SEC before formal litigation is filed.
According to Cointelegraph, the Reserve Bank of India (RBI) has proposed the development of a plug-and-play system to enhance interoperability in cross-border payments. This initiative aims to leverage the advancements in fast payment systems and central bank digital currencies (CBDCs) to improve efficiency in international transactions.RBI Governor Shaktikanta Das emphasized the importance of interoperability as a key design element for achieving maximum efficiency in cross-border payment systems. He acknowledged that while countries may prefer to design their systems based on domestic considerations, a plug-and-play approach could help maintain sovereignty while ensuring replicability.India has already made strides in this direction and is working towards developing such a system for the benefit of the global community. Das highlighted the need for traditional payment systems and CBDCs to be interoperable, not just within their own categories but also with each other. He noted that technical barriers could be addressed through common international standards, but the governance structure for long-term sustainability remains a challenge.Das pointed out that while wholesale markets have seen significant efficiency improvements, retail cross-border transactions still face multiple layers that add to costs and delays. He stressed the importance of ongoing initiatives and experiments in bilateral and multilateral arrangements to bring efficiency to cross-border payments, a recurring agenda for the G20 and international standard-setting bodies.India, which assumed the G20 Presidency in December 2022, has digital asset regulation as one of its key agendas. The Department of Economic Affairs is preparing a consultation paper on cryptocurrency legislation, expected to be released in September or October.
According to Odaily, a member of the Polish Central Bank, Maslowska, has indicated that the possibility of an interest rate cut in 2025 cannot be ruled out. This statement comes amid ongoing discussions about the country's economic policies and future financial strategies. The potential rate cut is being considered as part of broader efforts to manage economic stability and growth in Poland.
According to PA News, New Zealand's Revenue Minister, Simon Watts, has introduced a proposal to incorporate the Organisation for Economic Co-operation and Development's (OECD) Crypto-Asset Reporting Framework (CARF) into national law. The legislative proposal, submitted on August 26, aims to ensure transparency in crypto transactions and is set to take effect on April 1, 2026.Under this new framework, crypto service providers in New Zealand will be required to collect transaction information from reportable users and submit it to the Inland Revenue by June 30, 2027. The collected data will then be shared with relevant tax authorities globally by September 30, 2027, to ensure proper taxation of crypto-derived profits.Failure to comply with these requirements could result in fines of $300 per instance, with penalties for service providers potentially reaching between $12,000 and $62,000. Users who do not provide the necessary information could face fines of up to $621.This move highlights New Zealand's commitment to enhancing transparency and ensuring that crypto transactions are properly taxed in line with international standards.
According to BlockBeats, on August 27, San Francisco Federal Reserve President Mary Daly stated that she believes it is appropriate for the Federal Reserve to begin cutting interest rates. In an interview on Monday, Daly mentioned, 'The labor market has achieved full balance. The time to adjust policy has arrived.'This perspective aligns with Federal Reserve Chairman Jerome Powell's remarks last week. During the Jackson Hole symposium, Powell expressed confidence that the inflation rate is on its way back to 2%, similarly noting that 'the time to adjust policy has arrived.' Daly emphasized that the Federal Reserve must bring the inflation rate down to the 2% target, but she and her colleagues will also strive to prevent restrictive policies from harming the labor market.
According to Cointelegraph, the United States Securities and Exchange Commission (SEC) announced that cryptocurrency platform Abra has agreed to a settlement over allegations that the firm did not register the offers and sales of its lending product.In an August 26 notice, the regulator stated that Abra, “without admitting or denying the SEC’s allegations,” has agreed to pay civil penalties to be determined by a court and an injunction prohibiting the firm from violating securities laws. The SEC filed charges against the lending platform for failing to register the offers and sales of Abra Earn and operating as an unregistered investment company.The SEC alleged that Abra marketed its Earn service as a way for investors to earn interest “auto-magically” but instead generated income for itself. The platform began offering Abra Earn to US investors in July 2020, facilitating roughly $600 million in assets globally at its peak.“Abra allegedly sold its own securities while skirting applicable Investment Company Act provisions that provide a number of important protections to investors, including minimizing conflicts of interest,” said SEC enforcement associate director Stacy Bogert. “This matter reflects yet again, that in conducting enforcement investigations, we are governed by economic realities, not cosmetic labels.”This is a developing story, and further information will be added as it becomes available.
According to Odaily, Federal Reserve's Barkin has announced a 'test and learn' approach to handling interest rate cuts. The decline in inflation, which initially began in the goods sector, has now spread to other parts of the economy. This development has bolstered confidence that the downward trend in inflation will continue.
According to Odaily, ANZ has indicated that the Bank of Japan might increase interest rates in October. This potential move is significant as it could impact global financial markets. Additionally, ANZ highlighted that the U.S. Federal Reserve's policy direction will be heavily influenced by the non-farm payroll report for September. This report is crucial for understanding the labor market's health and could determine the Fed's next steps in monetary policy.
According to Odaily, European Central Bank (ECB) Governing Council member Robert Holzmann has stated that a rate cut in September is not a certainty. Holzmann emphasized that he does not wish to see an early rate cut. He noted that if the Federal Reserve were to reduce rates, it would make it easier for the ECB to follow suit. Holzmann also mentioned that the battle against inflation has largely been won.