Shenzhen, an economically emerging city in southern China, issued 10 million digital yuan (or approximately $1.47 million) in a pilot program aimed at promoting the new form of currency.
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The Bank of Japan reported that it will begin to "explore general purpose Central Bank Digital Currency in a more concrete and practical way by conducting experiments, rather than confining itself to conceptual research as before."
Morgan Stanley Smith Barney LLC and Citigroup Global Markets, Inc. agreed to pay over $2.96 million each to settle SEC charges of misleading investors about a foreign exchange trading program.
The SEC settled charges against a bank for misleading mutual fund companies and other custody clients by applying hidden markups to foreign currency exchange trades.
The SEC announced that Securities Exchange Act Rule 15b12-1 will expire on July 31, 2016. From that point on, only CFTC-registered futures commission merchants (that are not registered dually with the SEC as broker-dealers), retail foreign exchange dealers and certain banks may serve as counterparties in retail forex transactions.