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Nigerian Regulator Amends VASPs Rules; Threatens Enforcement Against Noncompliant Entities

23.6.2024
The Nigerian securities regulator said on June 21 that it had amended the digital asset rules to expand their scope and introduced an accelerated process for onboarding virtual asset service providers. The Accelerated Regulatory Incubation Programme provides VASPs with insights into...

US Government to Report Seized Crypto as ‘Nonmonetary Property’

23.6.2024
The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies...

Ripple CEO Hails Latest Court Ruling ‘a Big Win’ — Calls His Lawsuit Baseless Troll Attempt

23.6.2024
Ripple CEO Brad Garlinghouse says the latest court ruling on Ripple’s securities lawsuit “is a big win.” He stressed that “absolutely nothing in the decision negates or changes the fact that XRP is, in and of itself, not a security.” The Ripple executive slammed...

McKinsey Report: Tokenization at a Tipping Point, Poised to Transform Financial Markets

22.6.2024
The world of finance is standing on the brink of a transformative era driven by the rising prominence of tokenized assets. According to a recent McKinsey & Company report, tokenization—the process of converting assets into digital tokens on a blockchain—has reached a tipping point, setting...

Millions in Bitcoin Withdrawn After 1.96 Million AVAX Transferred to Exchanges: Zachxbt

22.6.2024
Onchain detective Zachxbt reported that an entity moved 1.96 million avalanche (AVAX) to various exchanges and subsequently withdrew millions in bitcoin (BTC) after the transaction. As of 8 a.m. EDT today, AVAX has declined almost 10% in the last 24 hours. AVAX Declines Amid Onchain...

Hong Kong invites global opinions on web3 and virtual assets future

22.6.2024
The Hong Kong Legislative Council is actively seeking feedback on several critical aspects of Web3 policy development, including balancing technical, legal, and regulatory frameworks

Digital Chamber raises privacy concerns over IRS crypto tax draft

22.6.2024
The Chamber proposes adding a field to the form for brokers to indicate if a digital asset has a different tax rate, such as NFTs taxed as collectibles, to prevent errors and ensure accurate reporting

Crypto Biz: US dollar exposure via digital assets takes off

21.6.2024
This week’s Crypto Biz explores Hashdex filing for a combined spot Bitcoin and Ether ETF, Coinbase’s pre-launch market, Ripple’s challenges with regulators in the U.S., and more stablecoins delisting in Europe

Is Biden shifting strategy on digital assets ahead of a Trump debate?

21.6.2024
Though Donald Trump began accepting Bitcoin for his 2024 campaign, he often criticized cryptocurrencies while in office

McKinsey Sees Just $2T of Tokenized RWAs by 2030 in Base Case, With Broad Adoption 'Still Far Away'

21.6.2024
Tokenization adoption will happen in waves led by assets such as mutual funds, bonds, loans, McKinsey said in a report

Tron’s Tether Volume Competes With Visa’s Daily Transactions Amid Crypto Slump

21.6.2024
According to data from the X account Lookonchain, the 24-hour trading volume of tether on the Tron network has surpassed Visa’s average daily transaction volume. Additionally, despite a general downturn in the crypto economy, tron (TRX) has achieved a 2% gain against the U.S. dollar over...

Standard Chartered Set to Launch Spot Crypto Trading for Bitcoin, Ethereum

21.6.2024
The British multinational banking and financial services firm Standard Chartered is initiating a spot cryptocurrency trading platform for bitcoin and ethereum, Bloomberg sources reveal. Sources Say Standard Chartered Ready to Launch Bitcoin and Ethereum Trading Operations On June...

Nigerian SEC announces new rules, compliance program for digital assets

21.6.2024
While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date

Italy Proposes Stringent Measures to Tackle Crypto Market Manipulation

21.6.2024
Italy is taking steps to enhance surveillance of crypto assets and address associated risks. According to a draft decree reviewed by a news agency, the plan includes imposing high fines on those who manipulate the market. The fines range from $5,400-$5.4 million (€5,000 to €5 million) for offenses...

Canada's 3iQ Files to List Solana ETP in Toronto

20.6.2024
3iQ was a leader in getting some of the first crypto ETFs past the finish line and listed on the TSX

Meme Coin Meltdown: Presidential Tokens TRUMP and BODEN Tumble Amid Market Slump

20.6.2024
Amid a general downturn in the cryptocurrency market, meme coins have experienced notable losses over the past week. Dogecoin and shiba inu declined by 13.9% to 15.6% respectively in the last seven days, while presidential meme coins such as TRUMP and BODEN also suffered substantial double-digit...

Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance

20.6.2024
This month, several cryptocurrency exchanges are delisting certain stablecoins to align with the European Union’s Markets in Crypto-Assets (MiCA) regulations, which establish more stringent rules for fiat-backed and algorithmic stablecoins in the European Economic Area (EEA). Uphold...