Coinbase Europe was fined €21.5 million by the Central Bank of Ireland after its system failed to monitor over 30 million transactions worth more than €176 billion between 2021 and 2022. The errors, caused by coding mistakes, meant some potentially suspicious transactions linked to crime went unchecked, and Coinbase has since fixed the system and strengthened its controls.

Ripple's approval in Ireland facilitates global expansion, enabling the provision of digital asset services and establishing a strategic foothold in the broader European market.

The Bank of Korea Governor warns of the impact of stablecoins like USDT and USDC on central banks, highlighting the need for CBDCs and the challenges ahead.

South Korea's central bank stresses immediate action on CBDCs amidst rising stablecoin popularity, aiming to address financial system challenges.

The ECB's recent report acknowledges cryptocurrencies, notably Bitcoin, as a potential store of value globally. Factors such as speculative investment, stability amidst economic uncertainty, and facilitating cross-border transactions contribute to their adoption. The report highlights the impact of fiat currency devaluation on the rise of crypto trading, emphasizing Bitcoin's role in providing financial alternatives during macroeconomic instability.

Singapore's central bank head forecasts the decline of private cryptocurrencies for their unreliability. He envisions a future with regulated coins and central bank digital currencies, echoed by Rao, from India's Reserve Bank. The FSB flags risks from complex crypto firms, emphasising the need for robust regulations. The shift towards regulated digital currencies is clear, yet strong oversight remains crucial.

This follows an investigation stage initiated in October 2021, and a proposal outlined in June 2023.

This pilot program will involve both private banks and public institutions, with technical expertise provided by the Bank for International Settlements (BIS).

The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) embarked on this research venture last year, aiming to explore the possibilities associated with asset digitisation and the utilisation of CBDCs.

Hana Bank is actively participating in the BOK's ongoing CBDC Proof of Concept project, which aims to establish a currency system based on blockchain technology.