Blockchain & Digital Assets

January 28, 2023 @ 3:59 pm By JD Alois  |  

On the same day the US Federal Reserve Board issued a new policy statement on banks engaging in crypto activity, several White House advisors posted a note on the “Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks. The post pointed at the “tough year” for crypto, referencing… Read More

January 28, 2023 @ 3:30 pm By JD Alois  |  

The legal frameworks applicable to national banks, insured state banks, and uninsured state banks can result in differences in the scope of allowed activities depending on the type of entity, according to the US Federal Reserve. Regardless of this discrepancy, the Fed will be certain… Read More

January 28, 2023 @ 10:17 am By Omar Faridi  |  

Solvo Finance, an EU-based cryptocurrency startup, has announced that their forthcoming crypto investing app will integrate Fireblocks, an easy-to-use platform “to create new blockchain-based products and manage day-to-day digital asset operations.” With the support of Fireblocks’ battle-tested technology, Solvo will be able “to provide world-class… Read More

January 28, 2023 @ 9:11 am By Omar Faridi  |  

The Federal Reserve Board announced its denial of the application by Custodia Bank, Inc., Cheyenne, Wyoming, “to become a member of the Federal Reserve System.” The Board has concluded that the firm’s application “as submitted is inconsistent with the required factors under the law.” Custodia… Read More

January 28, 2023 @ 7:46 am By JD Alois  |  

Silicon Prairie has been approved to operate an Alternative Trading System (ATS). An ATS is similar to a securities exchange but with different regulatory requirements. An entity must first be approved as a broker-dealer before applying to become an ATS. This will enable Silicon Prairie… Read More

January 27, 2023 @ 9:17 am By Omar Faridi  |  

Digital asset firm Gemini is pleased to announce the launch of electronic over-the-counter trading (eOTC), which is described as “a fully-automated crypto trading solution tailored to institutional counterparties worldwide, which will be offered through an affiliate of Gemini Trust Company, LLC (GTC).” Gemini eOTC offers… Read More

January 27, 2023 @ 9:02 am By Omar Faridi  |  

Copper.co, the provider of institutional digital asset custody and trading solutions, announces the appointment of Lord (Philip) Hammond of Runnymede, the former Chancellor of the Exchequer, as Chair. He takes up this role with “immediate effect.” Lord Hammond has “served as a Senior Adviser to… Read More

January 27, 2023 @ 8:14 am By Omar Faridi  |  

Bitpanda, the European digital asset platform, is pleased to announce the launch of Bitpanda Technology Solutions, the “scalable” Investing-as a-service infrastructure available in Europe and globally. Already serving 20+ million customers with its initial White Label API, Bitpanda Technologies Solution is now “adding features, asset… Read More

January 27, 2023 @ 8:08 am By Omar Faridi  |  

US securities regulators are looking into the operations of investment advisers over crypto-asset custody. The US Securities and Exchange Commission (SEC) is examining the activities of registered investment advisers over whether they’re following applicable guidelines around custody of customer digital assets. This, according to sources… Read More

January 26, 2023 @ 9:29 pm By Omar Faridi  |  

One of the oldest types of commercial financing is now on-chain. Managed by AQRU, a subsidiary of listed firm AQRU plc, the receivables financing pool launches with Intero Capital Solutions LLC as the sole borrower. Uncorrelated with crypto markets and secured by the underlying receivables,… Read More

January 26, 2023 @ 5:26 pm By Omar Faridi  |  

In order to get a better understanding of the current state of the industry, the Ferrum Network team conducted a survey “to gather insights from participants about their involvement in and views on Web3.” In order to get a better understanding of the current state… Read More

January 26, 2023 @ 2:50 pm By Omar Faridi  |  

Injective, a blockchain specifically designed for building financial applications, announced a new $150 million ecosystem initiative “to further accelerate the adoption of interoperable infrastructure and DeFi.” Injective claims  it is the first fully decentralized smart contracts platform “optimized for building finance applications.” Injective was “created… Read More

January 26, 2023 @ 1:05 pm By JD Alois  |  

Earlier this month, the House Financial Services Committee announced the chairs of each subcommittee. New to the mix is the Subcommittee on Digital Assets, Financial Technology, and Inclusion.  Committee Chairman Patrick McHenry selected French Hill of Arkansas to Chair this newly minted subcommittee. In a… Read More

January 26, 2023 @ 12:06 pm By Omar Faridi  |  

Milo, a financial technology company that is reimagining the way crypto and global consumers access financial solutions, announced the launch of its new crypto loan product. This launch means that digital asset-holders will now have the opportunity “to use their cryptocurrency as collateral to access… Read More

January 26, 2023 @ 11:10 am By JD Alois  |  

The DNB considers the non-compliance to be very severe. The Dutch Central Bank (De Nederlandsche Bank or DNB) has fined Coinbase Europe Limited €3,325,000. The administrative penalty was assessed as Coinbase (NASDAQ:COIN) had been providing digital asset services in the Netherlands without registration and thus… Read More

January 26, 2023 @ 8:19 am By Omar Faridi  |  

Digital asset exchange Luno will reportedly be cutting 35% of Its staff. Luno’s management stated that the upcoming job cuts will impact company workers in all supported regions. Luno is part of the Digital Currency Group (DCG) and reports having over ten million customers globally…. Read More

January 25, 2023 @ 7:26 pm By Omar Faridi  |  

Decentralized finance (DeFi) builds on distributed ledger technologies (DLT) “to offer services such as trading, lending and investing without using a traditional centralized intermediary,” according to finding shared by the Bank for International Settlements (BIS). The fact that DeFi components can be programmed “may open… Read More

January 25, 2023 @ 5:27 pm By Omar Faridi  |  

Eventus, a global provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has “selected the firm’s Validus platform to provide market abuse monitoring on the exchange.” Headquartered in Panama City, Panama, Deribit claims it is among the… Read More

January 25, 2023 @ 10:42 am By JD Alois  |  

Ginman, a Germany-based Robo-advisor, is looking to expand into digital assets, according to a note from the firm. Ginman historically has focused on equities – more specifically, ETFs or exchange-traded funds. As it seeks to add digital assets as an investment option, Ginman has added… Read More

January 25, 2023 @ 9:29 am By Omar Faridi  |  

In a report titled, Monitoring the Currents of the Crypto Market, Matías Andrade and Kyle Waters from Coinmetrics noted that the digital asset market is “experiencing a surge in activity as we kick off the new year. The update from Coinmetrics points out that Bitcoin… Read More