U.S. monetary policy, combined with the use of economic sanctions, have forced some countries to look for alternatives to the dollar, while growth of stablecoins may have emphasized the need of the fiat currency, the bank said.
A lack of interoperability poses an existential threat to central bank digital currencies, as it does to Web3 itself, says Temujin Louie, CEO of Wanchain.
Two Canadian men have been arrested and charged with fraud for allegedly swindling investors out of $40 million CAD – approximately $30 million USD – in a crypto and foreign exchange investment scheme.