Tag: Cayman Islands Monetary Authority
CIG preparing governance framework for cryptocurrencies
(CNS): The Cayman Islands Government is working on a framework of governance for cryptocurrencies and digital coin projects taking place in the jurisdiction while it considers how to implement a legislative framework for the sector, which has grown to over $400 billion in a few short years. Responding to questions from CNS, the Ministry of […]
US dollar shortage driving up cash costs
(CNS): Financial Services Minister Wayne Panton has said that he and the Cayman Islands Monetary Authority (CIMA) are heavily engaged in talks with banks, regulators in the US and other stakeholders over the US currency problem emerging in Cayman as a direct result of the money transfer businesses accepting only US dollars for remittances. The demand for […]
Bank calls in auditors over FIFA scandal
(CNS): Fidelity Bank has called in auditors in the wake of allegations made by the US authorities that it may have played a part in the possible laundering of the alleged bribes and kickbacks at the centre of the FIFA scandal. Officials from Fidelity said they had “engaged Deloitte Cayman to conduct an independent review […]
CIMA boss isolated from FIFA-related probe
(CNS): Updated: Government officials have clarified that the local regulator has set up an internal unit that will report to the non-executive board, and not the CIMA managing director, to investigate the allegations made about a local bank and other offshore entities registered here in the ongoing FIFA corruption scandal. But despite family connections, CIMA MD Cindy […]
CIFA executive to meet as scandal rolls on
(CNS): The first vice president of the Cayman Islands Football Association (CIFA), Bruce Blake, has confirmed that the executive committee of the local football body will be meeting Monday night and plans to issue a press release Tuesday in relation to the FIFA investigation and CIFA President Jeffrey Webb’s arrest in Switzerland. Meanwhile, the Cayman Islands Monetary Authority […]
