A court in the British Virgin Islands has frozen $1 billion in assets belonging to the founders of collapsed crypto hedge fund, Three Arrows Capital (3AC). The court order prohibits co-founders Su Zhu and Kyle Davies, as well as Davies’ wife, from transferring or selling assets worth over $1 billion.According to liquidators Teneo, 3AC owes […]
Finpact, a spin-off of the University of St. Gallen, has been granted a license as an asset manager by the financial regulator. The company specializes in digital wealth management for customers aged 50 and above, catering to capital payouts, inheritances, and savings. The license from the Swiss Financial Market Supervisory Authority (Finma) is seen as […]
Revolut, a digital bank, has announced that it will suspend some of its cryptocurrency services for its business clients in the United Kingdom. This decision comes as the company prepares for stricter regulations from the Financial Conduct Authority (FCA).Starting from January 3, 2024, Revolut will pause the ability of its UK customers to buy cryptocurrency […]
Russia has taken a significant step towards the implementation of its central bank digital currency (CBDC), the digital ruble, by integrating it into the nation’s tax code. President Vladimir Putin signed the new legislation into law, which aims to regulate the use and taxation of the upcoming CBDC. The tax code includes a definition of […]
The Financial Services Regulatory Authority (FSRA) in the United Arab Emirates has made updates to its Anti-Money Laundering and sanctions rules, specifically related to digital assets. The revisions, announced on December 21, include changes to provisions regarding digital assets within the Financial Action Task Force’s (FATF) Travel Rule. The updates aim to enforce the FATF’s […]
A British Virgin Islands court has issued a freezing order on approximately $1 billion worth of assets belonging to the founders of Three Arrows Capital (3AC), a cryptocurrency hedge fund that faced a significant collapse in 2022 due to a series of unsuccessful investments. The court’s directive restrains co-founders Su Zhu and Kyle Davies, along […]
The powerful rating agency Moody’s has downgraded the credit rating for Bank Julius Bär following the Signa debacle. The reasons cited for the downgrade are the group’s high risk appetite and risk concentration.Moody’s, the American rating agency, has lowered the credit rating for Julius Bär. The private bank’s credit rating has been downgraded to “A3” […]
The United Kingdom and Switzerland are set to establish a new post-Brexit agreement on financial services. The agreement, titled “Mutual Recognition Agreement for Conformity Assessments,” aims to strengthen and bring closer together the connections between the two financial centers.On Thursday, British Finance Minister Jeremy Hunt is expected to visit Bern, where he will sign the […]
Uphold, a popular cryptocurrency exchange, has announced that it will delist several cryptocurrencies, including Dogecoin, Shiba Inu, and Cardano. The move is part of a larger “delisting spree” by Uphold, which aims to comply with emerging cryptocurrency regulations in Canada. Uphold has entered into a “Pre-Registration Undertaking” with the Ontario Securities Commission to become a […]
The founders of Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) have had over a billion dollars of their assets frozen by a court in the British Virgin Islands. The court has banned co-founders Su Zhu and Kyle Davies from transferring or selling assets worth up to $1.14 billion. This freezing order also affects assets […]
