Several American lawmakers have expressed concerns about the proposed taxation scheme for digital assets in a letter to the U.S. Treasury. They argue that the current rules could stifle innovation and harm the digital asset ecosystem. The lawmakers specifically highlight the expansion of the term “broker” to include DeFi services, which could require these platforms […]
Modern credit cards were invented in the 1950s but took time to gain widespread adoption. It wasn’t until the 1970s that clear rules for fair lending were established, eliminating discrimination. Despite initial skepticism and high levels of defaulting, consumer trust in credit cards gradually grew through regulatory oversight and value-added services. This paved the way […]
The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion recently held a hearing on the use of blockchain technology in the context of crypto crime. The bipartisan hearing aimed to address misconceptions and explore ways to combat illicit activities involving digital assets. The discussion was prompted by an article published […]
The court has finalized the dismissal of a class action lawsuit against BitFinex and Tether after the plaintiffs chose not to appeal the ruling. The lawsuit accused the companies of misleading consumers about the properties of Tether’s stablecoin USDT and falsely disclosing information about its reserves. The plaintiffs claimed that the stablecoin was not backed […]
Citi, in collaboration with T.Rowe Price and Fidelity International, has developed a blockchain solution for foreign exchange (FX) trading as part of Singapore’s Project Guardian. This marks a significant step in integrating blockchain technology into traditional financial systems, with the potential to revolutionize FX trading. The solution utilizes the Avalanche blockchain for streaming FX prices […]
German banking giant Commerzbank has become the first full-service bank in Germany to receive a crypto custody license under the German Banking Act. This license allows Commerzbank to offer custody services for crypto assets and develop further digital asset services. The bank’s COO, Dr. Jörg Oliveri del Castillo-Schulz, sees this as a significant milestone and […]
Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has made a strategic investment in Layer 1 blockchain Sei. This investment includes go-to-market advice for Circle’s stablecoin infrastructure. The integration of USDC into Sei’s platform will provide developers and entrepreneurs with access to fast and instantaneous transaction settlements. This partnership will also enhance cross-border […]
The Monetary Authority of Singapore (MAS) has released a whitepaper titled “Interlinking Networks” that focuses on interoperability for digital assets. The whitepaper proposes an Interlinked Network Model (INM) that can facilitate the exchange of digital assets across independent networks. This would allow financial institutions to transact with each other without being on the same network, […]
Is your Bitcoin wallet at risk due to outdated technology? A recent report by cryptocurrency startup Unciphered reveals a potential security threat to Bitcoin wallets created before 2016. Dubbed “Randstorm,” this software flaw affects wallets generated by BitcoinJS between 2011 and 2015. The flaw could have impacted approximately 1.4 million Bitcoin, with a potential value […]
Recent developments in the world of cryptocurrency have sparked discussions about the regulatory environment surrounding crypto-based exchange-traded funds (ETFs). The Securities and Exchange Commission (SEC) has decided to defer its ruling on Grayscale’s application for an Ethereum Futures ETF, which has caused controversy and speculation. Grayscale, a prominent player in the cryptocurrency investment space, submitted […]
