THE globe

LONDON–The new sheriffs in town looking to tame what’s being described as the “Wild West” of finance—the cryptocurrency space—are, ironically, primarily in Europe, and many crypto-company leaders are none-too-happy with the new lawmen, according to a new report. 

BEIJING—China's Internet Financial Association, the China Banking Association and the China Securities Association want to "resolutely curb" the tendencies of non-fungible tokens (NFTs) to be made into financial products and securitized and to limit the risk of illegal financial activities related to the tokens, the group said in a statement.

QUITO, Ecuador—Two distinct virtual platforms for mobile devices that are designed to benefit Venezuelan migrants and low-income locals in Ecuador and Peru have been developed the Economic Inclusion Project (EIP), a USAID-funded activity implemented by World Council of Credit Unions (WOCCU).

RALEIGH, N.C.–Local Government Federal Credit Union has made a $50,000 to The ACCOSCA Academy in Kenya, which is aimed at improving improve African communities through credit union professional education.

WALES, U.K.–Families in Wales are going into debt to pay for basics like food and fuel as the cost of living continues to rise, according to Cambrian Credit Union here.

BASEL, Switzerland—Both the Financial Stability Board (FSB) and the International Monetary Fund are warning the war in Ukraine could be leading to “acceleration of cryptoization in emerging markets.”

WASHINGTON—CUNA and World Council of Credit Unions (WOCCU) are urging the Cooperative Development Program (CDP) to increase its 2023 fiscal year funding to $50 million in letter sent to House and Senate State, Foreign Operations, and Related Programs Subcommittees. 

GYDNIA, Poland–The largest credit union in this country is spending considerable time and money in seeking to help the Ukrainian refugees who have come across the border as a result of the war, including assisting with housing and schooling, according to the World Council of Credit Unions (WOCCU)

GDANSK, Poland–The World Council of Credit Unions’ CEO got an update on just how damaging economically Russia’s invasion of Ukraine has been to date.

TORONTO–Many credit unions in this country are still dealing with the fallout from panicked members who recently raced to withdraw their savings following reports and rumors related to a government effort to identify how funds were reaching certain groups.