U.S. Federal Reserve launching payment system, crypto bulls nonplussedThe United States Federal Reserve left some crypto enthusiasts unimpressed this week when it unveiled plans to release a real-time payments and settlements service. Known as FedNow, it is hoped the infrastructure will lead to faster transactions 24 hours a day, seven days a week. Presently, it is set to launch some time in 2023 or 2024. Morgan Creek Digital Assets co-founder Anthony Pompliano was dismissive of the plans, tweeting: “Bitcoin is already available.” Despite his oozing sarcasm, other crypto-related companies have leapt at the chance to make a contribution. Back in June, Ripple Labs announced it had been elected to a Fed steering committee connected to the project.
North Korea stole $2 billion in cryptocurrency from exchanges, says U.N.Long faced with punishing sanctions that have exacerbated the desperate poverty faced by millions of North Koreans — and stymied the development of its weapons of mass destruction programs — Pyongyang has turned to hacking crypto exchanges in recent years to fund its regime. This week, the United Nations gave an updated estimate of the illicit proceeds naughty North Korea has gained through these cyber attacks: a whopping $2 billion. In a confidential report that made its way to the mainstream media this week, the U.N. warned that South Korea appears to be a specific target of the secretive state’s malice. All this comes as Kim Jong Un continues to test ballistic missiles — executing five launches over recent weeks.
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