In a high-profile case in South Korea’s cryptocurrency market, prosecutors have requested an eight-year prison term for Lee Jung-hoon, the former chairman of Bithumb, the country’s second-largest crypto exchange. The appeal hearing, presided over by Judge Seo Seung-ryeol of the Seoul High Court, focuses on allegations of an $85 million fraud related to the failed […]
Global securities regulators are advocating for increased oversight of digital assets worldwide. The International Organization of Securities Commissions (IOSCO) has put forth 18 new policy recommendations aimed at protecting investors and ensuring market integrity in the crypto markets. These recommendations mirror the approach taken by the U.S. Securities and Exchange Commission (SEC). The goal is […]
WisdomTree, a global ETF provider, has filed an amended S-1 form with the SEC for a spot Bitcoin ETF. This comes after the company refiled its application in June 2023, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust on the BZX Exchange. The updated prospectus reveals that the ETF […]
Mastercard, a leading payments company, believes that customers are too comfortable with traditional forms of money to readily adopt Central Bank Digital Currencies (CBDCs). According to Ashok Venkateshwaran, a representative from Mastercard, the challenge lies in getting people to adopt CBDCs and use them as easily as they use cash today. To address this, Mastercard […]
The Commerzbank, Germany’s fourth-largest bank, has been granted a license by the Federal Financial Supervisory Authority (BaFin) to custody crypto assets. This makes Commerzbank the first universal bank in Germany to receive such a license. The license allows the bank to custody cryptocurrencies like Bitcoin and Ether, as well as tokenized securities issued on the […]
Singapore’s Monetary Authority (MAS) has launched a pilot program for the live issuance of a central bank digital currency (CBDC) based on the Singapore dollar. This move represents a significant departure from previous simulations, as MAS collaborates with local banks to practically test the use of CBDCs in real-world domestic payment scenarios. The pilot program […]
The Monetary Authority of Singapore (MAS) has announced a pilot program for a Singapore Central Bank Digital Currency (CBDC) for bank settlements. This marks a shift from previous simulations to real-world trials with local banks, aiming to enable instant settlement of payments among commercial banks using the CBDC. Unlike Singapore, the US has been less […]
Singapore’s central bank, the Monetary Authority of Singapore (MAS), has announced a pilot program for a live Singapore dollar-based central bank digital currency (CBDC). This wholesale CBDC will be used by local banks for settlements. MAS Managing Director Ravi Menon revealed the plan during the Singapore Fintech Festival. Previously, the MAS had only simulated the […]
The New York Department of Financial Services (NYDFS) has issued updated regulations for the listing and delisting of virtual currencies. These regulations build upon previous rules and include clearer definitions of certain terms. Companies that previously had an approved cryptocurrency listing policy must now have both listing and delisting policies approved by the regulator before […]
Hong Kong-based crypto exchange Hashkey has introduced insurance coverage for its clients’ assets stored in hot and cold wallets. The policy will cover 50% of assets in cold wallets and 100% of assets in hot wallets, with a potential payout of $50 million to $400 million in the event of a claim. Hashkey is also […]
