JP Morgan, a multinational financial services firm, is exploring the potential of a new type of token that could speed up cross-border payments and settlements. The token, known as a deposit token, would act as a digital version of deposits held in customers’ accounts and could be denominated in dollars and other fiat currencies. The […]
The Commodity Futures Trading Commission (CFTC) has intensified its focus on the decentralized finance (DeFi) space, issuing simultaneous orders against Opyn, ZeroEx, and Deridex, Inc. for allegedly offering illegal digital asset derivatives trading and failing to comply with regulatory requirements. Opyn, ZeroEx, and Deridex are accused of failing to register as a swap execution facility […]
Ripple has recently acquired Fortress Trust, a Nevada-based chartered trust company, for an undisclosed sum. This acquisition will add a Nevada license to Ripple’s current holdings, such as the New York BitLicense and money transfer licenses across 30 U.S. states. The purchase will enable Ripple to leverage on Fortress Trust’s technology, licensing, and infrastructure, allowing […]
JP Morgan Chase & Co. could soon create a new blockchain-based digital deposit token, according to reports from Bloomberg. The new token would allow for faster cross-border payments and settlements, and could be offered in a variety of currencies apart from the U.S. dollar. It would be restricted to bank use rather than retail use, […]
Caroline Pham, a commissioner with the United States Commodity Futures Trading Commission (CFTC), has proposed a limited pilot program to address crypto regulation. Pham suggested that the program would be similar to regulatory sandboxes previously introduced at the state level. The program would create a framework for emerging technologies and market structures under existing laws […]
JPMorgan, one of the world’s largest financial institutions, is reportedly developing a blockchain-based solution for cross-border transactions. The system, however, won’t be available until the bank receives approval from U.S. regulators. The new deposit token, which will be first launched for corporate clients, will allow transactions to other banks and is suitable for different forms […]
The U.S. Financial Accounting Services Board (FASB) has passed a unanimous vote to drastically change the way crypto asset values are recorded on publicly traded companies’ balance sheets. Under the new rules, crypto assets will be marked at fair value in companies’ accounting statements, rather than the current model of recording their crypto values at […]
Bitop Exchange, a regulated cryptocurrency exchange, has announced enhancements to its core products to better meet the needs of retail and institutional clients. The exchange is aiming to attract traders exploring investment options in commodities, stocks, spot, and derivatives via a user-friendly platform.Bitop has become licensed by the U.S. Securities and Exchange Commission and registered […]
The race for the first United States Ethereum exchange-traded fund (ETF) has officially begun after the Chicago Board Options Exchange (CBOE) filed two 19b-4 applications to the United States Securities and Exchange Commission (SEC). The applications are for the ARK 21Shares Ethereum ETF and VanEck Ethereum ETF investment products to be listed on CBOE’s BZX […]
October is shaping up to be a pivotal month for the future of crypto, with the SEC’s deadline to provide a decision on the status of seven spot Bitcoin ETFs extended to around the middle of the month. Grayscale, a crypto research firm, has urged the SEC to approve spot Bitcoin ETFs quickly, warning that […]
