• Paul Grewal joins Coinbase
    Cryptocurrencies,  Regulation

    Paul Grewal poached from Facebook to become Coinbase’s chief legal officer

    He replaces Brian Brooks, who left Coinbase four months ago to join the Office for the Comptroller of the Currency; Grewal may presiding over a Coinbase IPO

    In a July 8 blog post announcing the hire, Grewal was described as a top executive who has “repeatedly encountered some of the largest and most complicated legal issues in tech.”

  • French test digital euro
    Cryptocurrencies,  Politics

    France successfully tests digital euro

    Further experiments are set to take place in the coming weeks, Banque de France said, as the global race to launch a central bank digital currency heats up

    In Banque de France’s experiment on May 14, a blockchain developed by its team was used to settle an issue of digital securities by Société Générale. Covered bonds worth $44 million were issued as security tokens directly registered on a public blockchain.

  • Levey to lead Libra
    Cryptocurrencies,  People,  Politics

    Stuart Levey to lead Libra Association, comfort critics

    A top HSBC executive and Treasury Department official in charge of financial crimes and sanctions, a big part of the new CEO’s role is to reassure central bankers, regulators, and elected officials

    By hiring Stuart Levey the Facebook-founded Libra Association is announcing that compliance—with central bankers, financial regulators, tax authorities, and criminal and intelligence investigators—will be a prime driver as it moves forward.

  • China testing digital yuan
    Cryptocurrencies,  Politics

    China testing digital yuan in four cities

    European and Asian countries have been scrambling to catch up in the race for a digital currency, even as the U.S. drags its heels; annoucement suggests no 2022 Winter Olympics roll-out

    The People’s Bank of China (PBoC) said in an April 17 release that its prototype, central bank-issued digital yuan is being put through its paces in Shenzhen, Chengdu, Suzhou, and Xiong’an, which lies about 60 miles from Beijing. It will also be tested at the 2022 Winter Olympics in Beijing.