modernsociety
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11 months agoSEC Holds Talks with BlackRock and Grayscale on Spot Bitcoin ETFs, Decision Expected in Early 2024
The U.S. Securities and Exchange Commission (SEC) has been in discussions with several companies, including BlackRock and Grayscale Investments, regarding the possibility of introducing exchange-traded funds (ETFs)…
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11 months agoTelcoin DeFi Platform Falls Victim to $1.3 Million Exploit on Polygon
The decentralized finance (DeFi) platform Telcoin has suffered a $1.3 million exploit due to issues with the proxy implementation of its wallet on Polygon. This incident highlights the ongoing activity of malicious…
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11 months agoGrayscale Chairman Resigns, CFO to Take Over in Leadership Change
Grayscale Investments, a company seeking to convert its Bitcoin Trust into a U.S. spot exchange-traded fund (ETF), has announced changes in its leadership. Barry Silbert, the chairman of Grayscale, has resigned and…
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11 months agoUBS Group AG Exits $5 Billion in Assets as it Restructures Credit Suisse Holdings
UBS Group AG has made the decision to exit $5 billion in assets that it manages for wealthy clients. This move comes as the company works to sort out the parts of Credit Suisse that it does not want. During the…
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11 months agoPotential Approval of Bitcoin ETF Raises Concerns Over Self-Custody and Market Distortion
A potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States is raising concerns among analysts about the impact it could have on the original vision of Bitcoin. Josef Tetek, a Bitcoin…
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11 months agoMt. Gox Begins Repaying Creditors After 10-Year Wait
After a decade of anticipation, Mt. Gox, the infamous cryptocurrency exchange, has begun repaying its creditors. Users on social media have confirmed receiving payments for their long-blocked Bitcoin deposits in…
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11 months agoHashdex Meets with SEC Chair's Office to Discuss Bitcoin ETF Proposal
Crypto asset management firm Hashdex recently had a meeting with the U.S. Securities and Exchange Commission (SEC) Office of the Chair to discuss its proposed Bitcoin exchange-traded fund (ETF) application. The…
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11 months agoJapan's Cabinet Proposes Tax Breaks for Unrealized Crypto Gains
Japan’s Cabinet has approved a proposal to eliminate corporate tax on unrealized cryptocurrency gains, potentially revolutionizing the crypto landscape in the country. If this proposal becomes law, it would mean t…
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11 months agoSwiss Digital Asset Bank Sygnum Receives Major Payment Institution License in Singapore, Expands Cryptocurrency Brokerage Services
Swiss digital asset bank Sygnum has obtained a Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS) for its Singapore arm. This license will enable the bank to offer brokerage…
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11 months agoChinese Authorities Bust $2.2 Billion Underground Banking Operation Using Cryptocurrency
Chinese authorities have reportedly cracked down on a $2.2 billion underground banking operation that used foreign virtual currency trading platforms to help clients bypass the country’s capital controls. The o…
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11 months agoHong Kong Proposes Licensing Framework for Fiat-Referenced Stablecoins
Hong Kong is considering accepting and regulating fiat-referenced stablecoins (FRS) through a proposed licensing regime. The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority…
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11 months agoAfrican Countries Embrace Cryptocurrency with Minimal Regulation
Africa has emerged as a continent with significant interest in cryptocurrency, with countries like South Africa, Nigeria, Zimbabwe, Kenya, and Ghana leading the way in adoption. In 2023, these countries made…
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11 months agoRipple Refuses SEC's Offer to Acknowledge XRP as a Security
Ripple’s Chief Legal Officer, Stuart Alderoty, recently revealed the details of the US Securities and Exchange Commission’s (SEC) settlement offer to the company. The SEC had requested Ripple to publicly ack…
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11 months agoDeadline Set for Final Changes to Bitcoin ETF Filings, Approval Expected in January
The United States Securities and Exchange Commission (SEC) has set a deadline of December 29, 2023, for final changes to be made to spot Bitcoin exchange-traded fund (ETF) filings. Several firms, including…
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11 months agoAquila Group Under Scrutiny: Former Julius Bär CFO Joins Controversial Partner Alpique Swiss Wealth Partners
Dieter Enkelmann, former CFO of Bär Bank, has taken a seat on the board of Aquila Swiss Wealth Partners, a partner of Aquila Group. This move brings attention to the Aquila Group, which has been in the spotlight…
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11 months agoBank Job Cuts Reach Record High in 2023, UBS Leads the Way
Western banks have been cutting tens of thousands of jobs this year, with Swiss bank UBS leading the way. According to calculations by the British newspaper “Financial Times,” European and American banks have eli…
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11 months agoSwiss Financial Startup Quantarea Offers "Quant as a Service" to the Banking Industry
A new startup called Quantarea has recently launched in Stettlen, Switzerland, with the aim of offering “Quant as a Service” to the country’s financial industry. The company, founded last summer, is based in the f…
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11 months agoEvaluation of Swiss Banking Regulation: Too Big to Fail Rules Under Scrutiny
The Swiss government is considering the evaluation of regulations for large banks, according to Federal Councillor Karin Keller-Sutter. The Finance Minister is advocating for an open discussion on the matter. The…
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11 months agoNew Leadership Transitions in Swiss Financial Institutions
Andréa Maechler, former director of the Swiss National Bank (SNB), surprised the financial world when she resigned in June and took on a new role as Deputy General Manager at the Bank for International Settlements…
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11 months agoOn-Chain Trading Platform Thunder Terminal Suffers Security Breach, Loses $240,000 in ETH and SOL
Thunder Terminal, an on-chain trading platform, recently experienced a security breach resulting in a significant loss of approximately $240,000. The breach occurred when a hacker gained unauthorized access to a…
