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Stablecoin Storm — Gemini’s GUSD Shrinks 93% Amidst Market Turbulence
3.1.2024
Over the past few years, the stablecoin market has significantly slowed, particularly since mid-2022, following the collapse of Terra’s stablecoin. Additionally, last year, the New York Department of Financial Services (NYDFS) instructed Paxos to cease the issuance of BUSD. Beyond these...
Matrixport Analysis: SEC to Reject ETF Applications in January with Final Approval Pushed to Q2 2024
3.1.2024
Source: Pixabay Cryptocurrency financial services company, Matrixport has projected a possible rejection of spot Bitcoin (BTC) ETF applications in January with final approval in the second quarter of the year. In a Jan 3 market research, the firm gave reasons why the Securities and Exchange...
Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
3.1.2024
The expected approval of spot bitcoin exchange-traded funds (ETFs) applications by the U.S. Securities and Exchange Commission will see the top crypto asset’s price jumping to $50,000 in January, the latest market preview by Matrixport has predicted. The crypto financial services platform...
Record Losses in Web3 May Be Coming as Crypto Prices Rise – Immunefi
28.12.2023
Source: AdobeStock / Andy Dean Major bug bounty and security services platform Immunefi published a report detailing the loss of funds due to hacks and fraud in the Web3 ecosystem this year – and what might await in the next. The team looked into the volume of crypto funds the community lost...
Hong Kong Regulators Unveil Public Consultation Paper on Stablecoin Regulation
28.12.2023
Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the introduction of a sandbox arrangement whose purpose will...
Lawmaker Raises Red Flags Over Hong Kong’s Stablecoin Regulation Proposal
27.12.2023
A Hong Kong lawmaker expressed worries that new stablecoin regulations could disrupt crypto markets. Image by mehaniq41, Adobe Stock. Today, Hong Kong’s financial authorities—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—unveiled their plan...
Hong Kong Government Seeks Public Input on Legislation for Stablecoin Supervision
27.12.2023
Source: Pexels The Financial Services and the Treasury Bureau (FSTB), and the Hong Kong Monetary Authority (HKMA) have jointly introduced a public consultation paper outlining a legislative proposal to regulate issuers of stablecoins. This move is prompted by the increasing prominence...
China’s State Administration of Foreign Exchange Cracks Down on $2.2 Billion Crypto Exchange Ring
26.12.2023
The Chinese State Administration of Foreign Exchange (SAFE) has cracked down on an underground bank that used crypto to offer illegal exchange services. The operation, which had over 1,000 bank accounts and a presence in 17 provinces, moved over 15.8 billion yuan ($2.2 billion) to purchase crypto...
US Lawmaker Spotlights Crypto Bills Approved by House Committee This Year
26.12.2023
U.S. Congressman Tom Emmer has highlighted various crypto bills that passed out of the House Committee on Financial Services this year. Among them is his appropriations amendment barring the U.S. Securities and Exchange Commission (SEC) “from using taxpayer dollars on its abusive crypto...
ZA Bank Supports Over 80 Web3 Companies with Commercial Banking Services
25.12.2023
  Hong Kong-based ZA Bank announced that it has been providing support for over 80 web3 companies since early this year. This is in line with its vision for “Banking for Web3,” which it introduced in April. Among these companies is OKX Hong Kong, and ZA Bank serves as the banking...
Nigerian Central Bank Lifts February 2021 Crypto Prohibition Order
23.12.2023
The Nigerian central bank has reversed its Feb. 5 order which barred banks and financial institutions from extending their services to crypto entities. The central bank said new guidelines align with the Financial Action Task Force’s updated recommendation 15, which calls for the regulation...
Ripple Registered With Central Bank of Ireland
23.12.2023
Ripple is now registered as a virtual asset service provider with the Central Bank of Ireland. The company explained that it will “seek to provide services to clients across the European Economic Area once the Markets in Crypto Assets Regulation (MiCA) comes into force at the end of 2024...
Bloxroute to Reject Blocks With OFAC Flagged Transactions
22.12.2023
Bloxroute, a company that provides relaying services, has declared that it will start rejecting block bids with transactions from wallets part of the Office of Foreign Assets Control (OFAC) Specially Designated Nationals And Blocked Persons List (SDN List). Based in the U.S., the company clarified...
Paxos Receives Regulatory Approval to Expand into Solana Blockchain
22.12.2023
Source: Pixabay Paxos has announced an expansion of its stablecoin issuance to the Solana blockchain after securing regulatory approval from the New York Department of Financial Services. In a press release published Friday, the stablecoin issuer noted that the initiative is a “significant...
New York Offers New Virtual Currency Guidance
22.12.2023
On Nov. 15, 2023, the New York Department of Financial Services (NYDFS) issued new standards for virtual currency (coin) listings and delistings. These new regulations apply to Bitlicensees and limited-purpose trust companies and include business model considerations for virtual currency entities...
Galaxy Digital Seeking to Score Deals From Defunct Cryptocurrency Companies
22.12.2023
Galaxy Digital, a digital assets and blockchain financial services company, is seeking to score deals with defunct cryptocurrency companies to acquire their assets. According to reports, the company is eyeing FTX’s venture capital portfolio, which has a sizable stake in artificial...
Coinbase Expands Into France With Acquisition of VASP License Ahead of MiCA
21.12.2023
Source: Pixabay Coinbase has received regulatory approval from France’s Financial Markets Authority to conduct business as a digital asset trading venue. According to a CNBC report published on Tuesday, Coinbase has secured a virtual asset service provider (VASP) license from the Financial Markets...
Coinbase Approved as Virtual Asset Services Provider in France
21.12.2023
The third-largest crypto exchange has said it wants to become regulated in countries with clear policies for the industry while it argues with the Securities and Exchange Commission for bespoke rules in the U.S
Stablecoin Issuer Circle Conditionally Registered for Digital Asset Services in France
21.12.2023
France has been encouraging crypto companies to set up shop within its borders and take advantage of the clearer industry regulation than in the U.S
UAE Authority Updates Anti-Money Laundering Measures to Implement FATF’s Travel Rule
21.12.2023
Image Source: Diana/Adobe Stock The Financial Services Regulatory Authority (FSRA), a financial regulatory body in the United Arab Emirates, has released an updated version of its Anti-Money Laundering (AML) and sanctions rules specifically tailored for digital assets. In an official announcement...