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In the wake of the lending institution’s financial collapse in July 2022, American authorities found themselves contemplating a decisive response against Stephen Ehrlich, accusing him of breaching derivatives regulations. Rumors swirl within the corridors of the United States Commodity Futures Trading Commission (CFTC), hinting at a potential crackdown on Stephen Ehrlich, the erstwhile chief executive officer of Voyager Digital, a crypto lending firm. Per an illuminating Bloomberg report dated October 6, CFTC ’s staff members are in the throes of deliberation, pondering the notion of pursuing punitive measures against Ehrlich. Their investigation, which culminated just before Voyager ’s bankruptcy filing, suggests that the former CEO transgressed U.S. derivatives regulations. It’s worth noting that Voyager sought refuge under Chapter 11 in July 2022, coinciding with the turbulence in the cryptocurrency market. Ehrlich, evidently perturbed and mystified by th...

South Korea has joined the ranks of nations launching pilot programs for central bank digital currency (CBDC). The pilot project, aimed at exploring the technical infrastructure for a CBDC, will involve the participation of private banks, public institutions, and the invaluable technical support of the Bank for International Settlements (BIS). The joint announcement regarding the CBDC pilot program was made on October 4th by the Bank of Korea (BOK), the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS). According to the announcement, the project’s primary objective is to evaluate the feasibility of a future monetary system built upon “wholesale CBDCs.” The pilot program encompasses not only private banks and public institutions but also includes comprehensive testing of both retail and wholesale CBDCs. Within the experimental framework of the wholesale CBDC, participating banks will tokenize their deposits and circulate them within a ne...