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Change the Code Blasts Wall Street for Propping Up Bitcoin Initiatives
30.6.2023
Change The Code, a Greenpeace-backed initiative that seeks to change Bitcoin’s consensus algorithm, has blasted Wall Street companies for the support they are showing to Bitcoin-related activities. On social media, it has called out companies like Fidelity, Blackrock, JPMorgan, and Goldman...
European Banks to Disclose Exposure to Crypto Assets
29.6.2023
Banks in the European Union will have to disclose their exposure to cryptocurrencies, EU institutions announced. The obligation will be introduced under a deal to implement globally agreed regulatory standards meant to improve the resilience of the financial institutions. Deal Reached to Finalize...
6 Factors Advisors Should Consider Before Using an SMA for Digital Assets
29.6.2023
Separately Managed Accounts (SMAs) are a good way for FAs to manage digital assets, but advisors should fully understand the trade-offs
Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes
29.6.2023
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators...
Today in Crypto: Germany's Financial Watchdog Reportedly Decides Against Granting Binance a Custody License, Binance to Lose Support of Its Euro Banking Partner, Slovakia Reduces Crypto Taxes
29.6.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Germany's Financial Watchdog Reportedly Decides Against Granting Binance a Custody License, Binance...
Tokenization Is Likely to Transform Infrastructure and Financial Markets: Bank of America
29.6.2023
Implementation of blockchain technology will accelerate as the opportunity cost of uncaptured efficiencies increases, the report said
ECB to Start Wholesale CBDC Settlement Trials in 2024
29.6.2023
The central bank wants to see innovative interventions in financial markets – but under existing rules
Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital
29.6.2023
Islamic coin, a Sharia-compliant crypto asset, has secured $200 million from ABO Digital, which brings to $400 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to $200 million as well as to ensure that...
Hester Peirce: US crypto laws can’t assume ‘everything is a financial asset’
29.6.2023
SEC commissioner Hester Peirce discussed a possible U.S. crypto legal framework, giving a reminder that not all uses are financial
Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan
28.6.2023
The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled...
State Duma Chairman of Financial Markets Committee: Russia to Exert ‘Serious’ Control Over Crypto After Legalization
28.6.2023
Anatoly Aksakov, chairman of the Financial Markets Committee of the State Duma, the lower chamber of the Federal Assembly in Russia, has remarked that the government intends to hold “serious” control over crypto after it is legalized. According to local reports, Aksakov also stated that...
Nevada’s Financial Watchdog Seeks Receivership of Crypto Custodian Prime Trust Amidst Insolvency Concerns
28.6.2023
In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only shut down Prime Trust but also swiftly seize...
Nevada financial regulator petitions court to place Prime Trust into receivership
27.6.2023
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto
Dubai: Launching a Crypto Regulatory Arm to Become a Global Financial Power
27.6.2023
The center of the crypto universe has been shifting toward the UAE since March 2022, when Dubai announced the world’s first independent crypto regulator, the Virtual Asset Regulatory Authority. With its state intention to provide legal clarity for crypto, the No. 5 spot in CoinDesk’s Crypto Hubs...
Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption
26.6.2023
In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens...
Crypto travel rule implementation ‘remains relatively poor,’ says FATF
26.6.2023
The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation
Paris FATF Plenary: Global Implementation of Virtual Asset Standards Remains ‘Relatively Poor’
25.6.2023
The third plenary of the Financial Action Task Force (FATF), held in Paris, found a lack of global adoption of the virtual asset recommendations established by the institution. According to evaluations, almost three-quarters of the jurisdictions are partially compliant or non-compliant with these...
Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency
25.6.2023
The Bank of England made an impactful move last Thursday, June 22, 2023, as it raised the benchmark bank rate to 5%, marking a significant 0.5 percentage point increase. This decision catapults the central bank’s rate to its highest level since 2008 and represents the most substantial surge...
Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration
25.6.2023
A subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France. The registration of Caceis, a company that specializes in offering financial services to institutional investors, allows the two major European banks to tap into the crypto market....
Binance Forced to Stop Providing Crypto Services in Belgium by Financial Regulator
25.6.2023
Source: AdobeStock / prima91
The financial regulator in Belgium, the Financial Services and Markets Authority (FSMA) had forced the cryptocurrency exchange Binance to halt its services in the country alleging that the exchange has violated the law by serving Belgian customers from countries...