Binance, the world’s largest cryptocurrency exchange, has been facing a difficult year in the US. The SEC filed a lawsuit against it in June, while the US Commodity Futures Trading Commission charged Binance and CEO Changpeng Zhao with ”willful evasion of federal law” in March. In response to the regulatory storm, Binance.US has appointed a […]
Citigroup has launched Citi Token Services, a private, permissioned blockchain to provide institutional clients with cross-border payments, liquidity, and automated trade finance solutions. The service has completed two pilots, one with Danish shipping company Maersk and an unnamed canal authority, which enabled instant payments to service providers via smart contracts, reducing transaction processing time from […]
Swift, a global financial messaging network, has announced that three central banks have initiated beta testing for their Central Bank Digital Currency (CBDC) interlinking solution. This development signifies a significant stride towards achieving greater interoperability between traditional fiat currencies and their digital counterparts. Over 30 financial institutions have joined the experimentation fray, further testing the […]
This week is set to be an important one for September, with several major developments taking place. From inflation numbers to interest rates, here are three things to watch out for. Today, the United States Securities and Exchange Commission and Binance will have an important hearing regarding a case between the two. The SEC has […]
The U.S. is lagging behind Europe in the digital asset space, with the latter introducing its first Bitcoin exchange-traded fund (ETF) and setting up the Markets in Crypto Assets (MiCA) framework. This summer, the SEC delayed its decision on a spot Bitcoin ETF approval, while the U.S. also experienced a crackdown on crypto exchanges and […]
The Hong Kong Monetary Authority (HKMA) has warned crypto firms that it is illegal for any unauthorised company or platform to refer to themselves as a “bank” or deposit-taking business. The regulator has reminded the public that only HKMA-licensed providers can use the term bank or take deposits from the public.Using terms such as digital […]
The United States House Financial Services Committee is moving forward with legislation to prevent the issuance of a central bank digital currency (CBDC). On Sep. 20, the Committee will mark up two bills related to a potential digital dollar. The first bill, the Digital Dollar Pilot Prevention Act, or H.R. 3712, prohibits the Federal Reserve […]
PayPal’s venture into the digital currency market has the potential to initiate groundbreaking innovations in crypto services, from hosting crypto wallets to providing advanced trading tools. As PayPal navigates through the complex terrain of regulatory compliance, it paves the path for other fintech companies to follow suit, promoting widespread acceptance of digital currencies in everyday […]
The largest bank in Germany, Deutsche Bank, is making a deeper foray into the crypto industry. This week, the bank signed a partnership agreement with Geneva-based crypto infrastructure provider Taurus to offer customers secure crypto custody and tokenization of assets. This follows an investment in the Swiss startup in February and the subsequent application for […]
The Japanese government has recently announced a noteworthy relaxation of regulations about startup funding, allowing startups to accept digital assets as an alternative to traditional stocks. This regulatory shift aims to foster a more supportive and inclusive environment for startups by diversifying their financing options and aligning Japan with international standards in handling digital currencies.Under […]
