Crypto News

The Bank of Korea (BOK) suspended its central bank digital currency project, Singaporean financial newspaper Business Times reported on Monday. The project had reached the stage of developing a pilot program with participating banks.The central bank told the banks it will pause discussions related to the initiative, according to the report, which cited an unidentified BOK official.South Korea's President Lee Jae-myung, who took office June 4, courted the country's cryptocurrency community during his election campaign. Among his promises was a pledge to support a won-based stablecoin market.Earlier this month, Lee's ruling Democratic party submitted a bill that would allow qualifying companies to issue stablecoins. CBDCs are a form of fiat currency that are meant to act as a digital counterpart...

Five were arrested in connection with the years-long investigation, which involved law enforcement from Spain, Estonia, France and the U.S.Source link

Europol has announced that the Spanish Guardia Civil, in collaboration with law enforcement agencies from Estonia, France, and the United States, has dismantled a cryptocurrency investment fraud ring that defrauded over 5,000 victims worldwide. The operation resulted in the arrest of five individuals, with three apprehended in the Canary Islands and two in Madrid. TheSource link

India faces a $300 billion export-credit gap, but blockchain's "tokenised trade finance" could streamline processes, digitizing LCs and invoices to enhance access for small firms. (Read More)Source link

The bank’s move comes after reports that the Financial Conduct Authority is seeking to ban crypto purchases using credit.Source link