Policy
SBF met with Biden’s senior advisers 2 months before FTX’s collapse: Report
Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, one of which reportedly occurred just two months before the fall of his crypto empire. Most of the meetings were disclosed in visitor logs that are posted by the White House every month, with the records showing that Bankman-Fried met with Counselor to the President Steve Ricchetti on April 22 and May 12, along with another meeting on May 13 meeting with policy adviser Charlotte Butash. However, according to a Dec. 29 Bloomberg report, the former FTX CEO also met with the president’s counselor Ricchette as recently as Sept. 8, a meeting that did not show up on the visitor logs. White House 2022 visitor logs featuring Sam Bankman-Fried. Source: The White House ...
Canada to examine crypto, stablecoins, and CBDCs in new budget
The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget. The government’s “2022 Fall Economic Statement” released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as a fiscal update in conjunction with its main yearly budget. The statement included a small section on “Addressing the Digitalization of Money” that outlined the government’s crypto plans. It said the rise in cryptocurrencies and money digitalization is “transforming financial systems in Canada and around the world” and the country’s financial system regulation “needs to keep pace.” The statement opined that money digitalization “poses a challenge to democratic institutions around the world” h...
The UK cannot afford to send mixed messages on crypto
The United Kingdom is paving the road for cryptocurrency services, courting startups and established players alike while leading the way in pioneering regulation on stablecoins and nonfungible tokens. But a lot has changed. After two years of deliberations, European Union lawmakers achieved agreement on the Markets in Crypto-Assets (MiCA) regulation, marking a pivotal moment for harmonized supervision of the sector on such a scale. This followed United States President Joe Biden’s executive order recommending a whole-of-government approach toward the responsible development of digital assets within the United States. The U.K. has also seen major political shifts during this period, including the resignation of Treasury Minister John Glen, whose April speech supporting the industry represen...
Cuba blames unrest on U.S. interference as Joe Biden backs protests
Cuba blamed historic protests that took place over the weekend on U.S. “economic asphyxiation” and social media campaigns by a minority of U.S.-financed counter-revolutionaries, while U.S. President Joe Biden said he stood with the Cuban people. The streets of Havana were quiet on Monday, although there was a heavy police presence. Outages in mobile internet – the only way many Cubans have of accessing the web – were frequent. Chanting “freedom” and calling for President Miguel Diaz-Canel to step down, thousands of Cubans joined street protests here from Havana to Santiago on Sunday in the biggest anti-government demonstrations on the Communist-run island in decades. At least 80 protesters, activists, and independent journalists had been detained nationwide since Sunday, according to exile...
PIB: IPMAN commends National Assembly for inclusion of PEF
The Independent Petroleum Marketers Association of Nigeria has commended the National Assembly for the inclusion of the Petroleum Equalisation Fund in the newly passed Petroleum Industry Bill. The Public Relations Officer of IPMAN, Yakubu Suleiman, gave the commendation on Sunday in a statement. Suleiman said the legislative arm of government had demonstrated that it was sensitive to the yearnings of majority of Nigerians for a permanent solution to the energy problems in the country. He said the entire content of the bill as passed by the Senate would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy. He said: “The much awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the ...
NNPC, Shell donate 10 solar power water projects to communities in Borno
The Nigerian National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCO) have donated 10 solar powered boreholes and 16 VIP latrines to some communities in seven LGAs in Borno. Speaking at the formal handover ceremony of the projects in Maiduguri on Wednesday, Borno Deputy Governor, Alhaji Umar Kadafur, lauded NNPC/SNEPCO for the intervention. He said it would impact positively on the lives of the benefitting communities. Kadafur, whose speech was read by Alhaji Mohammed Wanori, the Commissioner for Inter-Governmental Affairs, said the intervention was in line with the administration’s policy of restoration of livelihood in communities worst affected by decade-long insurgency. “This administration places a high premium on the adage which says ‘water ...
Femi Falana: Old grazing reserves law applied only to northern states
Human rights lawyer, Mr. Femi Falana (SAN), has disclosed that the Grazing Reserves Act of 1964 which President Muhammadu Buhari was bent on reviving was only applicable to northern Nigeria in the 1960s. In a statement issued on Sunday and titled, ‘President Buhari Should Embrace Ranching,’ Falana argued that the Grazing Reserves Act of 1964 was not a law of general application because the “Western Region, Mid-Western Region and the Eastern Region had ranches for animal husbandry.” Falana, therefore, advised Buhari to promote ranching instead of attempting to revive grazing routes. The human rights lawyer stated that in 2016, the federal government announced that it had acquired 55,000 hectares of land in 11 states for grazing of cattle. “Shortly thereafter the federal government adopted c...
VP Osinbajo: Let’s focus on empowering our compatriots living with albinism
As a people, and in our communities, it is paramount to have conversations around the safety and enablement of our citizens who live with Albinism according to Vice President Yemi Osinbajo, SAN. He made this known at a virtual event, attended by a number of distinguished personalities including diplomats such as the American Ambassador to Nigeria, Mary Beth Leonard, marking the World Albinism Day themed: “Strength Beyond All Odds”, on Sunday, 13th of June, 2021. According to the VP, “there is a need to see it for what it is, a genetic difference not a contagious disease or a public health problem.” In dealing with the various challenges faced by the albinism community, Prof Osinbajo stated the need to “have frank and robust conversations around the protection and empowerment of our compatr...
Iran says nuclear talks policy won’t change after presidential vote
Iran’s policy in talks with world powers to revive the 2015 nuclear accord will remain unchanged after a June 18 presidential election because the issue is decided by its highest leadership, a government spokesman said on Tuesday. A host of barriers to the revival of the nuclear deal remain firmly in place ahead of talks due to resume this week, suggesting a return to compliance with the accord is still a way off, diplomats, Iranian officials and analysts said. “We have shown that we adhere to our international obligations under all circumstances, and this was a national decision,” cabinet spokesman Ali Rabiei told a weekly news conference. Rabiei said Iran’s nuclear policy, set by Supreme Leader Ayatollah Ali Khamenei, is not linked to internal developments and that the new government wou...
India warns Twitter of consequences if it fails to follow new rules
India’s government has told Twitter it could face “unintended consequences” if it fails to comply with the country’s new social media rules, Reuters reported. India’s technology minister wrote in a June 5th letter to Twitter that the company’s responses to previous government letters about the new rules did not confirm whether Twitter was in full compliance, according to Reuters. Under India’s Intermediary Guidelines and Digital Media Ethics Code, which took effect in May, social media companies could be subject to legal action if they fail to follow the code’s provisions, which are aimed at regulating the platforms’ content. The new rules call for platforms like Twitter, Facebook, and WhatsApp to remove content within 36 hours of receiving a legal order. The rules also require the compani...
Minister: Nigeria’s earlier break-up prediction failed, others will
Information minister Lai Mohammed says a prediction that Nigeria would break up in 2015 did not materialise, asserting that current predictions by individuals and organisations will also fail. A former U.S. ambassador to Nigeria, John Campbell, and one other expert had suggested that Nigeria had become a failed state calling on the U.S. government to step to salvage the country from total collapse. Mr Mohammed stated, “This declaration is merely the opinions of two persons, former U.S. Ambassador to Nigeria and a Senior Fellow at the Council on Foreign Relations John Campbell, and the President Emeritus of World Peace Foundation, Robert Rotberg. “Declaring any nation a failed state is not done at the whims and caprices of one or two persons, no matter their status. Just because Nigeria is ...
German foreign minister: EU veto ‘hostage’-taking on foreign policy must end
Germany’s foreign minister said on Monday the European Union should abolish the right of individual member states to veto foreign policy measures as the 27-nation bloc could not allow itself to be “held hostage”. His comments, which came days after a more junior official criticised Hungary by name, reflect growing frustration in Berlin at the way in which EU member countries can prevent the bloc from acting in matters on which almost all members agree. “We can’t let ourselves be held hostage by the people who hobble European foreign policy with their vetoes,” Heiko Maas told a conference of Germany’s ambassadors in Berlin. “If you do that then sooner or later you are risking the cohesion of Europe. The veto has to go, even if that means we can be outvoted.” His remarks amount to a highly u...