In recent regulatory news, a report by the Center for Public Integrity has explored the potential for cryptocurrency donations to obfuscate politicians’ sources of funding, a U.S. judge has urged the Malaysian public to exercise due diligence when considering seeking exposure to cryptocurrencies, and a report conducted by IBM Blockchain and the Official Monetary and Financial Institutions Forum (OMFIF) has found that central banks are unlikely to adopt national cryptocurrencies in the near term.
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Cryptocurrency Campaign Contributions and Donor Transparency
A report published by the Center for Public Integrity and Politico has sought to explore whether cryptocurrency donations pose a unique challenge to transparency in the donors to politicians.
The study looks at 20 candidates from across the political spectrum that have received or requested campaign donations in the form of cryptocurrencies. The report asserts that at least three of said candidates were running for office in a state that has since banned crypto donations.
Cryptocurrency analyst Joseph Argiro is quoted as emphasizing the need for US states to “put in political surveillance on [cryptocurrency] campaign contributions.” Despite such, Argiro noted that “the industry is so new that the tools are still being developed to facilitate that surveillance.”
US Judge Urges Malaysian Public to Exercise Caution With Cryptocurrency
While speaking at the “Cybersecurity in a Digital Era of Human Security” conference in Malaysia, Paul Grimm, United States district judge of the U.S. District Court for the District of Maryland, urged Malaysian citizens to exercise caution and conduct due diligence in considering making investments in cryptocurrency.
Grimm warned that cryptocurrency “exists in a market that is subject to fluctuations that are not controlled by a national bank with professionals,” adding:
