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On July 26, Swiss financial regulator FINMA issued new guidance urging stablecoin issuers to verify the identity of all token holders. The guidance aims to address risks associated with stablecoins pegged to fiat currencies, including potential threats to the Swiss financial reputation and risks posed to issuing banks by default guarantees. The guidance effectively prohibits non-decentralized stablecoins in Switzerland. FINMA's actions reflect growing regulatory scrutiny on digital assets and their impact on financial stability. The guidance also highlights concerns related to anti-money laundering (AML) compliance.
Compound Finance Faces Governance Attack as Proposal 289 Passes, Moving 499,000 COMP https://t.co/uhtTM8KAaw
COMPOUND FINANCE GOVERNANCE SHOWDOWN Proposal 289 passes, moving 499,000 COMP to the goldCOMP treasury. The "Golden Boys" bloc's influence raises centralization concerns. Community divided as proposal 290 seeks to transfer Timelock Admin to CommunityMultiSig. Navigating this… https://t.co/ltdZlC1bgO
DYSTOPIA: COMPOUND FINANCE POWER GRAB? Compound Finance is in chaos after proposal 289 greenlights 499,000 COMP to the goldCOMP treasury. Governance attack or just decentralized drama? The "Golden Boys" bloc is at the center of this power play. Critics worry about… https://t.co/Kr1w2XldVk