On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on … [Read more...]
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011
Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $ 16.7 billion in crypto assets have been stolen since 2011. Last year, Crystal’s intelligence team documented 199 incidents resulting in the … [Read more...]
Bank of New York Mellon: ‘Clients Are Absolutely Interested in Digital Assets’
Bank of New York Mellon (BNY Mellon) has revealed that its clients “are absolutely interested in digital assets.” Emphasizing the need for clear crypto regulation, the bank’s head of digital assets noted: “We need responsible actors who can offer reliable services that live up to investors’ trust.” BNY Mellon’s Clients Are ‘Absolutely’ Interested in Digital Assets Bank of New … [Read more...]
Uzbekistan Approves Rules for Issuance and Circulation of Crypto Assets
The authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan Government Sets Out to Regulate Digital Asset Investments The National Agency of … [Read more...]
Fidelity: 74% of Institutional Investors Surveyed Plan to Invest in Digital Assets
A new study by Fidelity Digital Assets, a subsidiary of financial giant Fidelity Investments, shows that 58% of institutional investors surveyed invested in digital assets in the first half of this year and 74% plan to invest in the future. Fidelity’s Institutional Investor Digital Assets Study Fidelity Digital Assets, a subsidiary of financial giant Fidelity Investments, … [Read more...]
South African Financial Sector Regulator Declares Crypto Assets a Financial Product
According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital … [Read more...]
Princess Charlene of Monaco: ‘Web3 Allows Us to Create Assets Worth Collecting’
In the age in which contactless interactions are encouraged or where society is adopting new ways of making payments, it is thought by some to be imperative for progressive organizations and institutions to move with the times. As history has shown us, organizations quick to learn or embrace new ways of doing things can sometimes outcompete the ones that insist on continuing … [Read more...]
Nasdaq Establishes Crypto Unit — Sees Increased Demand for Digital Assets Among Institutional Investors
Nasdaq has announced the launch of “Nasdaq Digital Assets” citing increased demand for digital assets among institutional investors in recent years. Initially, the new crypto unit will offer custody solutions for bitcoin and ether to institutional investors. Nasdaq Establishes Crypto Unit Nasdaq (Nasdaq: NDAQ), the world’s second-largest stock exchange, announced Tuesday the … [Read more...]
IMF: Crypto Assets Become More Mainstream as Hedges Against Weak Currencies, Potential Payment Instruments
The International Monetary Fund (IMF) published a report stating that crypto assets have gained a “more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.” The IMF has called for a global response to crypto regulation that is coordinated, consistent, and comprehensive. IMF Officials on Crypto Regulation, Mainstream … [Read more...]
Moscow Exchange Prepares to List Digital Financial Assets by Year End
Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital tokens. Russia’s Top Exchange to Facilitate Trading of Financial Instruments Based on … [Read more...]
US Bankruptcy Judge Freezes Crypto Hedge Fund Three Arrows Capital’s Assets
A federal judge in a New York bankruptcy court has frozen the assets of crypto hedge fund Three Arrows Capital (3AC). “A key part of this motion is to put the world on notice that it is the liquidators that are controlling the debtor’s assets at this stage.” Bankruptcy Judge Freezes 3AC’s Assets Judge Martin Glenn, a United States bankruptcy judge for the Southern District of … [Read more...]
Bill Imposing Fines for Illegal Issuance and Exchange of Digital Assets Proposed in Russia
A bill introducing financial penalties for those who illegally issue or exchange digital financial assets has been filed in the Russian parliament. The legislation has been submitted by the sponsor of another draft law banning their use as a means of payment. New Bill Targets Russian Platforms Issuing and Trading Digital Currencies Outside Law Persons and entities illegally … [Read more...]
Celsius Insolvency Rumors Swirl After Company Pauses Withdrawals, Nexo Offers to Buy Firm’s Assets
On Monday, June 13, 2022, the crypto economy dropped below the $ 1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around 10:10 p.m. (ET) Celsius announced that it … [Read more...]
Binance US Adds Staking Services for 7 Different Crypto Assets
Binance US is now offering crypto staking services and the firm details that seven digital currencies are currently available with annual percentage yields (APYs) up to 18%. Customers can earn yields on proof-of-stake (PoS) cryptocurrencies that include binance coin, solana, avalanche, livepeer, graph, cosmos, and audius. Binance US Adds Staking Services On Twitter, Binance US … [Read more...]
Singapore’s Central Bank, DBS, JPMorgan Collaborate to Explore Uses of Digital Assets, Defi
The Monetary Authority of Singapore (MAS) has partnered with major banks and financial services companies to explore the uses of asset tokenization and decentralized finance (defi). DBS Bank and JPMorgan will pilot the first project. Project Guardian Launched The Monetary Authority of Singapore (MAS), the country’s central bank, announced Tuesday that it has partnered with the … [Read more...]
