Rostin Behnam, the chairman of the US Commodity Futures Trading Commission (CFTC), has expressed concerns about the lack of clear regulatory guidelines for cryptocurrencies in the United States. He believes that many cryptocurrencies should be considered commodities under existing laws. Behnam argues that the rapid development of this new technology requires a fresh approach to […]
Nasdaq, the largest stock exchange in the US, has decided to repurpose its blockchain technology developments after discontinuing its plans to launch a custodian business for digital assets due to regulatory concerns. Despite this setback, Nasdaq remains focused on expanding its technology services related to tokenized assets.The new strategy for Nasdaq involves using its blockchain […]
Argentina’s new President, Javier Milei, has implemented a 50% devaluation of the Argentine peso and made cuts to energy and transportation subsidies. This move has caused the peso’s value to drop from 400 to 800 pesos per U.S. dollar, which has raised concerns about the country’s economic situation.In light of these developments, cryptocurrencies, particularly Bitcoin […]
Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has highlighted the urgent need for comprehensive regulations in the cryptocurrency industry. Speaking at a panel discussion with the South Korean government and central bank, Georgieva emphasized the potential risks associated with the growing popularity of cryptocurrencies and stressed the importance of establishing a […]
The Philippines Securities and Exchange Commission (PSEC) is taking steps to block and ban Binance, a cryptocurrency exchange, within three months. The commission issued an advisory warning users about Binance’s status as an unregistered exchange and stated that it is not authorized to sell or offer securities in the country. Binance has not registered as […]
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update is in response to feedback from stakeholders who have emphasized the need for better accounting practices in the crypto asset space.The ASU covers all assets defined as intangible […]
In a major security breach, hackers have targeted Ledger’s connector library, compromising numerous decentralized applications (dApps) that rely on Ledger’s technology. This breach has put Ledger wallet users at risk of theft and has exposed severe vulnerabilities in Ledger’s systems.The attack involved hackers replacing Ledger’s connector library with a corrupted version, allowing them to hijack […]
In a recent security breach, unknown attackers targeted Ledger, a popular hardware wallet provider, with the aim of exploiting their LedgerConnect kit. The attack involved injecting a “wallet-draining payload” into the NPM package, which allowed the attackers to hijack the front end of multiple apps and steal hundreds of thousands of dollars worth of assets. […]
LGT has successfully completed the acquisition of Abrdn’s discretionary fund management business in the UK and Jersey. This £140m deal, which was initially announced in February, has allowed LGT Wealth Management, the UK-based wealth arm of LGT, to take on Abrdn Capital’s 4,000 clients and 140 employees. As a result, LGT WM’s total assets have […]
The finance empire of Liechtenstein’s Prince Hans-Adam II, which has been in existence for almost 1,000 years, is thriving. LGT Group, the royal family’s private banking and asset-management firm, reported record assets under management of almost 306 billion Swiss francs ($334 billion) as of June 30, 2022. The firm has been expanding rapidly, recently acquiring […]
