Market

Singapore’s central bank unveils new frameworks to promote tokenization

November 4, 2024 1 min read

Singapore is making strides in the financial sector by promoting the use of tokenization, which involves converting assets into digital tokens. The Monetary Authority of Singapore (MAS) has introduced new frameworks designed to encourage financial institutions to adopt tokenized assets, particularly in areas like fixed income, foreign exchange, and asset management. To facilitate this shift, MAS has rolled out two important frameworks that aim to enhance liquidity, build the necessary

Coinbase uncovers FDIC letters urging banks to avoid crypto services

November 3, 2024 1 min read

Coinbase has recently brought to light that the U.S. Federal Deposit Insurance Corporation (FDIC) has been advising banks to avoid offering services related to cryptocurrency. Through a Freedom of Information Act (FOIA) request, Coinbase uncovered over 20 letters from the FDIC, dating back to March 2022, which express concerns about consumer protection, financial stability, and the security of institutions involved with crypto. This has raised alarms among crypto supporters, who

VanEck partners with Kiln to offer institutional investors easy access to Solana staking

November 1, 2024 1 min read

VanEck, a prominent asset management firm, is enhancing its investment approach to Solana by teaming up with Kiln, a platform that specializes in digital asset rewards. This collaboration aims to simplify the staking process for institutional investors, allowing them to enjoy the benefits of Solana staking without the hassle of managing technical details or handling SOL tokens directly. By integrating staking solutions into its investment offerings, such as exchange-traded notes

OKX partners with Standard Chartered to offer secure, third-party crypto custody for institutional investors

November 1, 2024 1 min read

OKX, a cryptocurrency exchange, has teamed up with Standard Chartered to enhance security for institutional investors through reliable third-party custody solutions. This partnership merges OKX’s cryptocurrency expertise with Standard Chartered’s established reputation in traditional banking, aiming to build trust among institutional clients. The Chief of Security at OKX described this collaboration as a significant step forward, highlighting the critical need for trust and security as more institutional investors venture into

Tether denies allegations of a U.S. government investigation into anti-money laundering violations

November 1, 2024 1 min read

Tether has firmly rejected claims that it is being investigated by the US government for potential anti-money laundering violations, following a report from the Wall Street Journal (WSJ) that cited unnamed sources. The article suggested that federal investigators in Manhattan were looking into whether Tether had been misused by individuals involved in illegal activities. Tether responded by labeling these allegations as “pure speculation,” emphasizing that there were no credible sources

DWF Labs Dismisses Partner Amidst Allegations

October 29, 2024 1 min read

DWF Labs is currently addressing serious allegations against one of its partners, who has been accused of inappropriate behavior. In light of these concerns, the company has made the decision to remove this partner from all management and operational positions immediately. DWF Labs announced they prioritize respect and are dedicated to fostering a safe and inclusive workplace for everyone. In addition, they added that their commitment to gender diversity is

Ripple co-founder Chris Larsen calls SEC Chair Gary Gensler the “worst public servant”

October 29, 2024 1 min read

The ongoing conflict between Ripple Labs and the Securities and Exchange Commission (SEC) is heating up, particularly with Ripple’s co-founder, Chris Larsen, taking a strong stance against SEC Chair Gary Gensler. In a recent interview with CNBC, Larsen did not hold back, labeling Gensler as the “worst public servant of all time” and criticizing his handling of cryptocurrency regulations in the U.S., as well as his support for Kamala Harris’

Ripple challenges the SEC in a crucial court appeal

October 28, 2024 2 mins read

Ripple Labs is intensifying its legal confrontation with the U.S. Securities and Exchange Commission (SEC) by filing a cross-appeal in the U.S. Court of Appeals for the Second Circuit. This move challenges a previous ruling that deemed certain XRP sales to institutional investors as securities, while also responding to the SEC’s recent appeal against a favorable ruling for Ripple from earlier this year. This moment is pivotal in the ongoing

Microsoft shareholders to vote on assessing investing in Bitcoin

October 27, 2024 1 min read

Recent updates from the Securities and Exchange Commission (SEC) reveal that Microsoft is planning to present a proposal regarding Bitcoin investment at its upcoming shareholder meeting on December 9, 2024. However, it’s still uncertain whether this proposal involves Microsoft actually adding Bitcoin to its financial assets or merely exploring it as a potential investment. The trend of companies incorporating Bitcoin into their financial strategies began with MicroStrategy, a business intelligence

Aark Digital Offers Bounty for Hacker Return

October 27, 2024 1 min read

Aark Digital recently faced a significant security breach where an unauthorized individual managed to access and steal around 1.4 million USDC and over 24 ETH. In response to this incident, the company has initiated round-the-clock recovery efforts and is enhancing its security protocols to prevent future breaches. To encourage the return of the stolen assets, Aark Digital is offering a 15% bounty, which translates to 225,000 USDC, to the person

The Netherlands plans to enforce new crypto tax rules

October 27, 2024 2 mins read

The Netherlands is gearing up to adopt new cryptocurrency tax regulations in line with the European Union’s (EU) recent initiatives. The Dutch Ministry of Finance has unveiled plans to enhance oversight of digital currencies by introducing tax reporting requirements for crypto service providers. Starting January 2026, these providers will need to gather and share their clients’ information with the Dutch tax authorities, a move designed to boost transparency and combat

Bitstamp obtains MTF license to provide crypto derivatives products

October 26, 2024 1 min read

Bitstamp has recently received a Multilateral Trading Facility (MTF) license from Slovenia’s Securities Market Agency, allowing the exchange to offer a broader range of financial products to both retail and institutional clients. This new license enables Bitstamp to introduce crypto derivatives, such as perpetual swaps, which allow traders to speculate on cryptocurrency prices without the concern of expiration dates. Additionally, the license permits trading in structured products, bonds, commodities, and