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) linked to spot bitcoin. The SEC has set a deadline of December 29, 2023, for companies to submit their final ETF proposals, with the first round of prospective […]
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 will be replaced by Mark Shifke, the chief financial officer of Grayscale’s owner, DCG. The changes will take effect on January 1, although […]
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 meeting, which included representatives from Hashdex, Tidal Financial Group, and various law firms, focused on the NYSE Arca’s proposed rule change to list and […]
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 services for cryptocurrencies, known as Digital Payment Tokens (DPTs), in Singapore. Sygnum also revealed that it currently manages CHF 3.2 billion in […]
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 operation involved underground banks purchasing virtual currencies and then selling them through overseas trading platforms to obtain foreign currency, thus circumventing China’s strict foreign exchange regulations. […]
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 (HKMA) have published a consultation paper outlining the requirements for obtaining a license. The proposed criteria include full backing of stablecoins with reserves, segregation and safekeeping […]
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 acknowledge that XRP is a security and offered a short window for compliance. However, Ripple rejected the offer, maintaining that XRP is not a security.In […]
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 Grayscale, BlackRock, and Ark Invest, have applied for a spot in a Bitcoin ETF and are hopeful for approval in 2024. The SEC […]
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 recent report on the Credit Suisse crisis has raised questions about whether the “Plan B” for rescuing the bank would have been successful. The […]
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 (BIS) in Basel in September 2023. Maechler had been a member of the SNB Directorate since 2015, leading the III. […]
