Several members of Congress have submitted a memo urging financial authorities to clarify that SEC Staff Accounting Bulletin 121 (SAB 121) is not enforceable. The memo argues that SAB 121 should have no legal effect and that banks and other financial institutions should not be required to comply with it. SAB 121 is a rule […]
BlackRock, the world’s largest asset manager, has filed for an Ether Exchange Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC). This move comes after BlackRock registered the iShares Ethereum Trust with the Delaware Department of State Division of Corporations. The company had previously filed for a Bitcoin ETF application. BlackRock’s entry […]
Paxos, a blockchain platform, has received in-principle approval from the Monetary Authority of Singapore (MAS) to launch a US dollar stablecoin in Singapore. This move marks the expansion of Paxos Digital Singapore into the Asian market and aligns with MAS’ forthcoming stablecoin framework. The approval comes after the release of several tokenization pilots in the […]
Attorney John Deaton has offered a fresh perspective on the legal confrontation between Ripple and the SEC, potentially changing the course of the dispute. Deaton argues that Ripple’s potential $770 million fine could be significantly reduced based on legal precedents. He suggests that Ripple may be able to exclude XRP institutional sales conducted outside the […]
The New York Department of Financial Services (NYDFS) has issued new guidance on crypto regulations in an effort to protect consumers and increase transparency in the crypto industry. The proposed measures require licensed entities to notify the authority when listing or delisting a crypto coin and submit their policies on how they handle these actions. […]
Binance, the world’s largest cryptocurrency exchange, is expanding its operations to Thailand with the launch of “Gulf Binance” in 2024. The exchange has partnered with Gulf Innova, a subsidiary of Thai conglomerate Gulf Energy, to establish this new entity. This move marks Binance’s first regulated business in Southeast Asia, as Gulf Binance has obtained a […]
Onyx by J.P. Morgan, in collaboration with Apollo Global and under the aegis of the Monetary Authority of Singapore’s Project Guardian, has unveiled a proof-of-concept with Avalanche, a leading blockchain platform. This innovative venture aims to revolutionize asset and wealth management by harnessing the potential of blockchain, smart contracts, and tokenization to streamline portfolio management, […]
In early 2024, Binance, one of the world’s largest cryptocurrency exchanges, plans to launch a new exchange in Thailand through a joint venture with Gulf Energy Development. The project, known as Gulf Binance, received approval from the Securities and Exchange Commission and is set to launch on an invitation-only basis on November 15, 2023, before […]
The New York State Department of Financial Services (NYDFS) has announced new regulations aimed at safeguarding investors in the cryptocurrency market. Cryptocurrency companies will now be required to submit their listing and delisting procedures for approval to the NYDFS. The regulator will evaluate these procedures based on stricter risk assessment guidelines, considering factors such as […]
Commerzbank, a leading German full-service bank, has achieved a significant milestone by becoming the first bank in Germany to receive a Crypto Custody Licence. This license allows the bank, which manages assets worth $536 billion, to offer a wide range of digital asset services, with a focus on popular cryptocurrencies like Bitcoin, XRP, and IOTA. […]
