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 […]
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 […]
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, […]
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 […]
Kevin O’Leary, the well-known venture capitalist and star of “Shark Tank,” has endorsed M2, a new crypto exchange based in Abu Dhabi. M2 aims to challenge established industry leaders like Binance by focusing on regulation and institutional support. The exchange’s strategy is to become the world’s largest regulated crypto exchange, a departure from the previous […]
Commerzbank, a major German bank, has obtained a cryptocurrency custody license, becoming the first full-service bank in Germany to do so. This license allows the bank to expand its digital asset offerings and provide custodial services for crypto assets. Commerzbank plans to establish a secure and compliant platform using blockchain technology for these services. The […]
Crypto.com’s Dubai entity, CRO DAX Middle East FZE, has obtained a Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Asset Regulatory Authority (VARA). This license allows Crypto.com to offer regulated virtual asset services such as exchange services, broker-dealer services, management and investment services, and lending and borrowing services. The license is subject to compliance […]
The global movement to promote crypto tax transparency is gaining momentum, with new requirements being placed on participants in digital asset markets in Europe and the U.S. These initiatives aim to ensure that transactions are reported and that participants comply with other provisions. This increased transparency is intended to address concerns about tax evasion and […]
Commerzbank, one of the largest banks in Germany, has received regulatory approval to offer crypto custody services, making it the first full-service bank in the country to do so. The approval was granted by the Federal Financial Supervisory Authority (BaFin) under the German Banking Act. This milestone allows Commerzbank to develop digital asset solutions, including […]
